Brown Advisory Inc. Has $153.20 Million Stake in T. Rowe Price Group, Inc. $TROW

Key Points

• Brown Advisory trimmed its T. Rowe Price Group stake by 2.2% in the fourth quarter, but still held 1,496,375 shares valued at about $153.2 million.
• Analyst sentiment remains cautious: most firms rate TROW as Hold or Sell, with a consensus rating of “Reduce” and an average price target of $100.08.
• T. Rowe Price reported better-than-expected quarterly results, with EPS of $2.52 topping estimates and revenue of $1.86 billion, while the company also declared a $1.30 quarterly dividend yielding about 4.7% annualized.

Brown Advisory Inc. decreased its position in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 2.2% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 1,496,375 shares of the asset manager's stock after selling 33,318 shares during the period. Brown Advisory Inc. owned about 0.69% of T. Rowe Price Group worth $153,199,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. TD Private Client Wealth LLC lifted its position in T. Rowe Price Group by 91.8% in the 4th quarter. TD Private Client Wealth LLC now owns 257 shares of the asset manager's stock worth $26,000 after buying an additional 123 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. lifted its position in T. Rowe Price Group by 540.9% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 282 shares of the asset manager's stock worth $29,000 after buying an additional 238 shares in the last quarter. Canton Hathaway LLC purchased a new stake in T. Rowe Price Group in the 4th quarter worth approximately $31,000. Sound Income Strategies LLC lifted its position in T. Rowe Price Group by 170.3% in the 4th quarter. Sound Income Strategies LLC now owns 300 shares of the asset manager's stock worth $32,000 after buying an additional 189 shares in the last quarter. Finally, TD Waterhouse Canada Inc. lifted its position in T. Rowe Price Group by 92.0% in the 4th quarter. TD Waterhouse Canada Inc. now owns 386 shares of the asset manager's stock worth $40,000 after buying an additional 185 shares in the last quarter. Institutional investors and hedge funds own 73.39% of the company's stock.

Analyst Ratings Changes

A number of research firms have issued reports on TROW. Barclays increased their target price on shares of T. Rowe Price Group from $87.00 to $89.00 and gave the stock an "underweight" rating in a research report on Friday, May 1st. JPMorgan Chase & Co. cut their target price on shares of T. Rowe Price Group from $106.00 to $103.00 and set an "underweight" rating for the company in a research report on Friday, April 24th. Jefferies Financial Group cut their target price on shares of T. Rowe Price Group from $107.00 to $91.00 and set a "hold" rating for the company in a research report on Wednesday, April 8th. Keefe, Bruyette & Woods increased their target price on shares of 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. Finally, TD Cowen increased their target price on shares of T. Rowe Price Group from $93.00 to $94.00 and gave the stock a "hold" rating in a research report on Friday, May 1st. Eleven analysts have rated the stock with a Hold rating and four have given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Reduce" and a consensus price target of $100.08.

Insider Buying and Selling at T. Rowe Price Group

In other news, VP Stephon A. Jackson sold 3,000 shares of the firm's stock in a transaction 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 transaction, 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.60% of the company's stock.

T. Rowe Price Group Trading Up 1.3%

T. Rowe Price Group stock opened at $109.64 on Friday. The company has a market capitalization of $23.49 billion, a P/E ratio of 11.75, a P/E/G ratio of 5.61 and a beta of 1.50. The firm's fifty day simple moving average is $100.82 and its 200-day simple moving average is $99.62. T. Rowe Price Group, Inc. has a 1-year low of $85.22 and a 1-year high of $118.22.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The asset manager reported $2.52 earnings per share for the quarter, beating analysts' consensus estimates of $2.37 by $0.15. The business had revenue of $1.86 billion for the quarter, compared to the consensus estimate 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 for the quarter was up 5.3% on a year-over-year basis. During the same quarter last year, the firm earned $2.23 EPS. On average, equities research analysts predict that T. Rowe Price Group, Inc. will post 9.63 earnings per share for the current year.

T. Rowe Price Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 29th. Stockholders of record on Monday, June 15th will be issued a dividend of $1.30 per share. The ex-dividend date is Monday, June 15th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.7%. T. Rowe Price Group's dividend payout ratio (DPR) is currently 55.73%.

T. Rowe Price Group 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.

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