T. Rowe Price Group, Inc. (NASDAQ:TROW) Shares Sold by Blueshift Asset Management LLC

Key Points

• Blueshift Asset Management LLC reduced its stake in T. Rowe Price Group by 55.1%, selling 4,015 shares and now holding worth $301,000.
• T. Rowe Price Group reported an EPS of $2.24 for the last quarter, exceeding the consensus estimate of $2.15, despite a decline in quarterly revenue by 0.6% year-over-year.
• The company announced a quarterly dividend of $1.27 per share, representing an annualized yield of 4.9% with a payout ratio of 57.60%.

Blueshift Asset Management LLC lessened its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 55.1% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,273 shares of the asset manager's stock after selling 4,015 shares during the period. Blueshift Asset Management LLC's holdings in T. Rowe Price Group were worth $301,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of TROW. Hexagon Capital Partners LLC boosted its holdings in shares of T. Rowe Price Group by 44.8% in the first quarter. Hexagon Capital Partners LLC now owns 365 shares of the asset manager's stock valued at $34,000 after acquiring an additional 113 shares during the period. Wealthcare Capital Partners LLC boosted its holdings in shares of T. Rowe Price Group by 1.2% in the first quarter. Wealthcare Capital Partners LLC now owns 9,429 shares of the asset manager's stock valued at $866,000 after acquiring an additional 115 shares during the period. Cullen Investment Group LTD. boosted its holdings in shares of T. Rowe Price Group by 0.9% in the first quarter. Cullen Investment Group LTD. now owns 13,554 shares of the asset manager's stock valued at $1,245,000 after acquiring an additional 117 shares during the period. Federated Hermes Inc. boosted its holdings in shares of T. Rowe Price Group by 6.7% in the first quarter. Federated Hermes Inc. now owns 2,112 shares of the asset manager's stock valued at $194,000 after acquiring an additional 133 shares during the period. Finally, Gen Wealth Partners Inc boosted its holdings in shares of T. Rowe Price Group by 3.1% in the fourth quarter. Gen Wealth Partners Inc now owns 4,651 shares of the asset manager's stock valued at $526,000 after acquiring an additional 139 shares during the period. Hedge funds and other institutional investors own 73.39% of the company's stock.

T. Rowe Price Group Trading Down 0.4%

Shares of TROW stock traded down $0.47 during mid-day trading on Thursday, reaching $104.95. The stock had a trading volume of 74,510 shares, compared to its average volume of 1,830,096. T. Rowe Price Group, Inc. has a 12-month low of $77.85 and a 12-month high of $125.81. The company has a market cap of $23.06 billion, a P/E ratio of 11.73, a price-to-earnings-growth ratio of 2.87 and a beta of 1.47. The business has a 50-day simple moving average of $99.07 and a 200 day simple moving average of $98.27.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last posted its quarterly earnings data on Friday, August 1st. The asset manager reported $2.24 EPS for the quarter, beating analysts' consensus estimates of $2.15 by $0.09. The business had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.72 billion. T. Rowe Price Group had a return on equity of 19.77% and a net margin of 28.72%. The business's revenue for the quarter was down .6% compared to the same quarter last year. During the same quarter last year, the company earned $2.26 earnings per share. Research analysts anticipate that T. Rowe Price Group, Inc. will post 9.29 EPS for the current year.

T. Rowe Price Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Friday, June 13th were paid a dividend of $1.27 per share. The ex-dividend date of this dividend was Friday, June 13th. This represents a $5.08 dividend on an annualized basis and a dividend yield of 4.8%. T. Rowe Price Group's dividend payout ratio (DPR) is presently 56.76%.

Insiders Place Their Bets

In other T. Rowe Price Group news, VP Dorothy C. Sawyer sold 2,000 shares of the firm's stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $95.43, for a total value of $190,860.00. Following the sale, the vice president directly owned 44,789 shares of the company's stock, valued at approximately $4,274,214.27. This trade represents a 4.27% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jessica M. Hiebler sold 968 shares of the firm's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $96.98, for a total value of $93,876.64. Following the completion of the sale, the insider directly owned 13,611 shares in the company, valued at approximately $1,319,994.78. The trade was a 6.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on TROW. Wells Fargo & Company increased their price objective on T. Rowe Price Group from $98.00 to $108.00 and gave the company an "equal weight" rating in a report on Friday, July 11th. The Goldman Sachs Group decreased their price target on T. Rowe Price Group from $89.00 to $80.00 and set a "sell" rating for the company in a report on Monday, April 14th. Citigroup decreased their price target on T. Rowe Price Group from $100.00 to $95.00 and set a "neutral" rating for the company in a report on Monday, April 14th. Keefe, Bruyette & Woods increased their price target on T. Rowe Price Group from $110.00 to $112.00 and gave the stock a "market perform" rating in a report on Monday. Finally, Morgan Stanley increased their price target on T. Rowe Price Group from $112.00 to $116.00 and gave the stock an "equal weight" rating in a report on Monday. Four investment analysts have rated the stock with a sell rating and nine have given a hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $101.09.

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.