Cullen Frost Bankers Inc. Sells 525 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Cullen Frost Bankers Inc. lessened its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 1.9% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 26,927 shares of the asset manager’s stock after selling 525 shares during the period. Cullen Frost Bankers Inc.’s holdings in T. Rowe Price Group were worth $2,900,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. International Assets Investment Management LLC grew its holdings in T. Rowe Price Group by 8,968.6% during the 4th quarter. International Assets Investment Management LLC now owns 902,146 shares of the asset manager’s stock valued at $97,152,000 after buying an additional 892,198 shares in the last quarter. Qube Research & Technologies Ltd purchased a new stake in T. Rowe Price Group during the third quarter valued at $21,114,000. Charles Schwab Investment Management Inc. lifted its position in T. Rowe Price Group by 2.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 4,900,101 shares of the asset manager’s stock valued at $513,874,000 after purchasing an additional 134,839 shares during the last quarter. Invesco Ltd. increased its holdings in shares of T. Rowe Price Group by 7.6% in the 3rd quarter. Invesco Ltd. now owns 1,684,057 shares of the asset manager’s stock worth $176,607,000 after buying an additional 119,305 shares during the last quarter. Finally, Fisher Asset Management LLC raised its position in shares of T. Rowe Price Group by 6.7% during the 4th quarter. Fisher Asset Management LLC now owns 1,752,005 shares of the asset manager’s stock valued at $188,674,000 after buying an additional 109,653 shares in the last quarter. Institutional investors own 73.39% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on TROW. TD Cowen upgraded T. Rowe Price Group from a “sell” rating to a “hold” rating and lifted their price target for the stock from $92.00 to $114.00 in a research report on Monday, April 8th. UBS Group boosted their target price on T. Rowe Price Group from $100.00 to $109.00 and gave the company a “sell” rating in a research report on Friday, April 12th. JPMorgan Chase & Co. raised their price target on T. Rowe Price Group from $94.00 to $103.00 and gave the stock an “underweight” rating in a research report on Tuesday, April 16th. Morgan Stanley lifted their price objective on shares of T. Rowe Price Group from $114.00 to $125.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 17th. Finally, Keefe, Bruyette & Woods upgraded shares of T. Rowe Price Group from an “underperform” rating to a “market perform” rating and raised their target price for the stock from $106.00 to $120.00 in a report on Thursday, April 11th. Four equities research analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $112.10.

Insider Activity at T. Rowe Price Group

In related news, Director Freeman A. Hrabowski III sold 8,740 shares of the company’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $118.32, for a total transaction of $1,034,116.80. Following the completion of the sale, the director now directly owns 21,073 shares in the company, valued at approximately $2,493,357.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Jessica M. Hiebler sold 1,138 shares of the business’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $107.13, for a total transaction of $121,913.94. Following the transaction, the insider now directly owns 14,113 shares in the company, valued at approximately $1,511,925.69. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Freeman A. Hrabowski III sold 8,740 shares of the company’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $118.32, for a total value of $1,034,116.80. Following the transaction, the director now directly owns 21,073 shares in the company, valued at $2,493,357.36. The disclosure for this sale can be found here. Insiders have sold a total of 12,921 shares of company stock valued at $1,500,133 over the last ninety days. 2.00% of the stock is owned by company insiders.

T. Rowe Price Group Stock Performance

Shares of NASDAQ:TROW opened at $111.49 on Thursday. The firm’s 50 day simple moving average is $115.24 and its 200-day simple moving average is $107.68. T. Rowe Price Group, Inc. has a one year low of $87.43 and a one year high of $132.76. The firm has a market cap of $24.90 billion, a PE ratio of 13.24, a price-to-earnings-growth ratio of 1.93 and a beta of 1.40.

T. Rowe Price Group (NASDAQ:TROW) last issued its earnings results on Friday, April 26th. The asset manager reported $2.38 earnings per share for the quarter, topping the consensus estimate of $2.04 by $0.34. The business had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.71 billion. T. Rowe Price Group had a return on equity of 19.70% and a net margin of 29.09%. The business’s revenue for the quarter was up 13.8% compared to the same quarter last year. During the same period in the prior year, the business earned $1.69 EPS. Equities research analysts predict that T. Rowe Price Group, Inc. will post 8.75 EPS for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Friday, June 14th will be given a $1.24 dividend. This represents a $4.96 annualized dividend and a dividend yield of 4.45%. T. Rowe Price Group’s payout ratio is presently 58.91%.

About T. Rowe Price Group

T. Rowe Price Group, Inc is a publicly owned investment manager. The firm provides its services to individuals, institutional investors, retirement plans, financial intermediaries, and institutions. It launches and manages equity and fixed income mutual funds. The firm invests in the public equity and fixed income markets across the globe.