Freestone Capital Holdings LLC Has $217,000 Stake in T. Rowe Price Group, Inc. $TROW

Key Points

• Freestone Capital Holdings LLC reduced its stake in T. Rowe Price by 89%, selling 17,187 shares in Q4 and ending with 2,119 shares valued at about $217,000.
• Wall Street sentiment is weak — T. Rowe Price carries a consensus rating of “Reduce” with an average price target of $97.38, after several downgrades and target cuts from firms including JPMorgan and TD Cowen.
• T. Rowe Price reported Q4 EPS of $2.44 (missing estimates by $0.03) with revenue up 6% year‑over‑year, and raised its quarterly dividend to $1.30 (annualized $5.20, a 5.4% yield).

Freestone Capital Holdings LLC decreased its position in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 89.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 2,119 shares of the asset manager's stock after selling 17,187 shares during the period. Freestone Capital Holdings LLC's holdings in T. Rowe Price Group were worth $217,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TROW. Allen Wealth Management LLC lifted its position in T. Rowe Price Group by 4.6% in the 4th quarter. Allen Wealth Management LLC now owns 14,491 shares of the asset manager's stock worth $1,484,000 after buying an additional 636 shares in the last quarter. Whitener Capital Management Inc. lifted its position in T. Rowe Price Group by 8.0% in the 4th quarter. Whitener Capital Management Inc. now owns 2,640 shares of the asset manager's stock worth $270,000 after buying an additional 195 shares in the last quarter. Legacy Financial Strategies LLC lifted its position in T. Rowe Price Group by 533.0% in the 4th quarter. Legacy Financial Strategies LLC now owns 17,573 shares of the asset manager's stock worth $1,799,000 after buying an additional 14,797 shares in the last quarter. U.S. Capital Wealth Advisors LLC lifted its position in T. Rowe Price Group by 2.9% in the 4th quarter. U.S. Capital Wealth Advisors LLC now owns 11,055 shares of the asset manager's stock worth $1,132,000 after buying an additional 309 shares in the last quarter. Finally, Choreo LLC lifted its position in T. Rowe Price Group by 5.4% in the 4th quarter. Choreo LLC now owns 8,011 shares of the asset manager's stock worth $830,000 after buying an additional 412 shares in the last quarter. Institutional investors and hedge funds own 73.39% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on TROW shares. Barclays set a $94.00 target price on shares of T. Rowe Price Group in a research report on Thursday, February 5th. TD Cowen cut their target price on shares of T. Rowe Price Group from $97.00 to $93.00 and set a "hold" rating for the company in a research report on Thursday, April 9th. Zacks Research downgraded shares of T. Rowe Price Group from a "hold" rating to a "strong sell" rating in a research report on Tuesday. Weiss Ratings reiterated a "hold (c+)" rating on shares of T. Rowe Price Group in a research report on Monday, December 29th. Finally, JPMorgan Chase & Co. cut their target price on shares of T. Rowe Price Group from $108.00 to $106.00 and set an "underweight" rating for the company in a research report on Thursday, February 5th. Ten investment analysts have rated the stock with a Hold rating and five have assigned a Sell rating to the company. According to data from MarketBeat.com, T. Rowe Price Group currently has a consensus rating of "Reduce" and an average price target of $97.38.

T. Rowe Price Group Trading Down 0.4%

T. Rowe Price Group stock opened at $95.75 on Friday. The company has a market capitalization of $20.84 billion, a P/E ratio of 10.35, a P/E/G ratio of 4.17 and a beta of 1.50. The firm's fifty day simple moving average is $91.79 and its 200-day simple moving average is $99.55. T. Rowe Price Group, Inc. has a 1-year low of $82.86 and a 1-year high of $118.22.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last released its quarterly earnings results on Wednesday, February 4th. The asset manager reported $2.44 earnings per share for the quarter, missing analysts' consensus estimates of $2.47 by ($0.03). The business had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.92 billion. T. Rowe Price Group had a net margin of 28.53% and a return on equity of 20.29%. The firm's revenue for the quarter was up 6.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.12 EPS. On average, equities research analysts predict that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current year.

T. Rowe Price Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 30th. Stockholders of record on Monday, March 16th were issued a dividend of $1.30 per share. The ex-dividend date was Monday, March 16th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 5.4%. This is an increase from T. Rowe Price Group's previous quarterly dividend of $1.27. T. Rowe Price Group's payout ratio is 56.22%.

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.

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