Brookstone Capital Management Decreases Position in T. Rowe Price Group, Inc. $TROW

Brookstone Capital Management decreased its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 4.5% during the 1st quarter, Holdings Channel reports. The firm owned 101,681 shares of the asset manager’s stock after selling 4,745 shares during the quarter. Brookstone Capital Management’s holdings in T. Rowe Price Group were worth $9,166,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in TROW. Goldman Sachs Group Inc. increased its holdings in T. Rowe Price Group by 332.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 8,770,071 shares of the asset manager’s stock valued at $897,880,000 after acquiring an additional 6,740,172 shares in the last quarter. First Trust Advisors LP grew its position in shares of T. Rowe Price Group by 126.5% in the fourth quarter. First Trust Advisors LP now owns 3,280,854 shares of the asset manager’s stock valued at $335,894,000 after purchasing an additional 1,832,231 shares during the last quarter. Norges Bank acquired a new stake in shares of T. Rowe Price Group in the fourth quarter valued at approximately $128,283,000. PFA Pension Forsikringsaktieselskab purchased a new position in shares of T. Rowe Price Group during the 4th quarter worth approximately $61,073,000. Finally, Caisse de depot et placement du Quebec raised its position in shares of T. Rowe Price Group by 81.0% during the 3rd quarter. Caisse de depot et placement du Quebec now owns 1,306,922 shares of the asset manager’s stock worth $134,142,000 after purchasing an additional 584,949 shares during the last quarter. 73.39% of the stock is currently owned by hedge funds and other institutional investors.

T. Rowe Price Group Price Performance

NASDAQ TROW opened at $107.99 on Tuesday. T. Rowe Price Group, Inc. has a 12 month low of $85.22 and a 12 month high of $118.22. The company has a 50-day moving average of $102.94 and a 200-day moving average of $99.88. The company has a market cap of $23.14 billion, a P/E ratio of 11.57, a P/E/G ratio of 5.51 and a beta of 1.50.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings data on Thursday, April 30th. The asset manager reported $2.52 earnings per share for the quarter, topping the consensus estimate of $2.37 by $0.15. The business had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.85 billion. T. Rowe Price Group had a net margin of 28.28% and a return on equity of 20.60%. The company’s revenue was up 5.3% on a year-over-year basis. During the same period in the prior year, the firm posted $2.23 EPS. As a group, equities research analysts anticipate that T. Rowe Price Group, Inc. will post 9.63 EPS for the current year.

T. Rowe Price Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 29th. Investors of record on Monday, June 15th will be given a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 4.8%. The ex-dividend date of this dividend is Monday, June 15th. T. Rowe Price Group’s dividend payout ratio (DPR) is 55.73%.

Insider Transactions at T. Rowe Price Group

In other T. Rowe Price Group news, VP Stephon A. Jackson sold 3,000 shares of the business’s stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $102.56, for a total transaction of $307,680.00. Following the completion of the sale, the vice president owned 83,883 shares of the company’s stock, valued at approximately $8,603,040.48. The trade was a 3.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.60% of the company’s stock.

Analyst Upgrades and Downgrades

TROW has been the subject of a number of analyst reports. Jefferies Financial Group cut their price target on T. Rowe Price Group from $107.00 to $91.00 and set a “hold” rating for the company in a report on Wednesday, April 8th. Keefe, Bruyette & Woods lifted their price objective on T. Rowe Price Group from $95.00 to $107.00 and gave the stock a “market perform” rating in a research report on Friday, May 1st. Barclays boosted their target price on shares of T. Rowe Price Group from $87.00 to $89.00 and gave the company an “underweight” rating in a research note on Friday, May 1st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of T. Rowe Price Group in a research note on Friday, May 8th. Finally, Evercore upped their price objective on shares of T. Rowe Price Group from $106.00 to $111.00 in a research note on Monday, June 8th. Eleven research analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Reduce” and an average price target of $100.08.

About T. Rowe Price Group

T. Rowe Price Group, Inc is a global investment management firm headquartered in Baltimore, Maryland, founded by Thomas Rowe Price Jr. in 1937. The company provides a broad range of investment products and services for individual investors, financial intermediaries, retirement plan sponsors and institutional clients. Its offerings are built around active investment management and in-house research across equity, fixed income and multi-asset strategies, reflecting a long history as a research-driven asset manager.

The firm’s product lineup includes mutual funds, separate accounts, collective investment trusts, target-date and target-risk funds, and managed account solutions, as well as services for defined contribution and defined benefit retirement plans.