Hsbc Holdings PLC Sells 19,993 Shares of T. Rowe Price Group, Inc. $TROW

Hsbc Holdings PLC lowered its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 1.9% during the fourth quarter, Holdings Channel reports. The institutional investor owned 1,034,158 shares of the asset manager’s stock after selling 19,993 shares during the period. Hsbc Holdings PLC’s holdings in T. Rowe Price Group were worth $105,986,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. TD Private Client Wealth LLC lifted its position in T. Rowe Price Group by 91.8% during the fourth quarter. TD Private Client Wealth LLC now owns 257 shares of the asset manager’s stock worth $26,000 after acquiring an additional 123 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. grew its position in shares of T. Rowe Price Group by 540.9% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 282 shares of the asset manager’s stock valued at $29,000 after purchasing an additional 238 shares during the last quarter. Canton Hathaway LLC acquired a new position in shares of T. Rowe Price Group in the fourth quarter valued at approximately $31,000. Sound Income Strategies LLC increased its stake in shares of T. Rowe Price Group by 170.3% during the fourth quarter. Sound Income Strategies LLC now owns 300 shares of the asset manager’s stock worth $32,000 after purchasing an additional 189 shares during the period. Finally, DV Equities LLC bought a new position in shares of T. Rowe Price Group during the fourth quarter worth approximately $32,000. 73.39% of the stock is owned by institutional investors.

T. Rowe Price Group Stock Performance

Shares of TROW stock opened at $118.55 on Friday. The stock has a market cap of $25.40 billion, a P/E ratio of 12.71, a price-to-earnings-growth ratio of 6.02 and a beta of 1.47. T. Rowe Price Group, Inc. has a 1 year low of $85.22 and a 1 year high of $118.64. The stock has a 50 day simple moving average of $105.76 and a 200 day simple moving average of $100.36.

T. Rowe Price Group (NASDAQ:TROW) last posted 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 during the quarter, compared to analysts’ expectations of $1.85 billion. T. Rowe Price Group had a net margin of 28.28% and a return on equity of 20.60%. T. Rowe Price Group’s revenue was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.23 earnings per share. Analysts forecast that T. Rowe Price Group, Inc. will post 9.69 EPS for the current year.

T. Rowe Price Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 29th. Stockholders of record on Monday, June 15th were issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date of this dividend was Monday, June 15th. T. Rowe Price Group’s dividend payout ratio is 55.73%.

Insider Activity

In related news, VP Stephon A. Jackson sold 3,000 shares of the stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $102.56, for a total transaction of $307,680.00. Following the sale, the vice president owned 83,883 shares in the company, valued at approximately $8,603,040.48. This trade represents a 3.45% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 1.60% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Keefe, Bruyette & Woods lifted their price target on T. Rowe Price Group from $95.00 to $107.00 and gave the stock a “market perform” rating in a report on Friday, May 1st. The Goldman Sachs Group upped their price objective on T. Rowe Price Group from $90.00 to $92.00 and gave the company a “sell” rating in a report on Tuesday, June 30th. Morgan Stanley increased their price objective on T. Rowe Price Group from $105.00 to $109.00 and gave the stock an “equal weight” rating in a research report on Friday, June 26th. Evercore lifted their target price on T. Rowe Price Group from $106.00 to $111.00 in a report on Monday, June 8th. Finally, BMO Capital Markets boosted their target price on shares of T. Rowe Price Group from $98.00 to $110.00 and gave the company a “market perform” rating in a research report on Monday, May 4th. Eleven equities research analysts have rated the stock with a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat, T. Rowe Price Group currently has a consensus rating of “Reduce” and a consensus target price of $100.54.

T. Rowe Price Group Company Profile

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.