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

Key Points

• HSBC Holdings PLC trimmed its T. Rowe Price stake by 1.9% in the fourth quarter, selling 19,993 shares and leaving it with 1,034,158 shares valued at about $105.99 million.
• T. Rowe Price reported stronger-than-expected quarterly results, posting EPS of $2.52 versus estimates of $2.37 and revenue of $1.86 billion, up 5.3% year over year.
• The company announced a quarterly dividend of $1.30 per share, or $5.20 annualized, implying a 4.8% yield. Analysts remain cautious overall, with an average rating of “Reduce” and an average price target of $100.08.

Hsbc Holdings PLC lessened its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 1.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,034,158 shares of the asset manager's stock after selling 19,993 shares during the period. Hsbc Holdings PLC owned 0.47% of T. Rowe Price Group worth $105,986,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. AG Campbell Advisory LLC bought a new stake in shares of T. Rowe Price Group during the 4th quarter worth about $345,000. Tobam raised its stake in shares of T. Rowe Price Group by 21,661.1% in the 4th quarter. Tobam now owns 7,834 shares of the asset manager's stock valued at $802,000 after acquiring an additional 7,798 shares in the last quarter. Anchor Investment Management LLC raised its stake in shares of T. Rowe Price Group by 2.2% in the 4th quarter. Anchor Investment Management LLC now owns 28,974 shares of the asset manager's stock valued at $2,966,000 after acquiring an additional 612 shares in the last quarter. KW Wealth Management LLC lifted its holdings in T. Rowe Price Group by 62.9% in the 4th quarter. KW Wealth Management LLC now owns 3,337 shares of the asset manager's stock worth $342,000 after purchasing an additional 1,289 shares during the last quarter. Finally, MidFirst Bank acquired a new stake in T. Rowe Price Group in the 4th quarter worth approximately $102,000. 73.39% of the stock is currently owned by institutional investors.

T. Rowe Price Group Price Performance

Shares of TROW opened at $107.65 on Monday. The company has a market capitalization of $23.07 billion, a P/E ratio of 11.54, a PEG ratio of 5.51 and a beta of 1.50. T. Rowe Price Group, Inc. has a one year low of $85.22 and a one year high of $118.22. The business's 50 day simple moving average is $102.63 and its 200-day simple moving average is $99.84.

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. T. Rowe Price Group had a return on equity of 20.60% and a net margin of 28.28%.The firm had revenue of $1.86 billion during the quarter, compared to analysts' expectations of $1.85 billion. During the same period last year, the firm posted $2.23 EPS. The business's revenue was up 5.3% on a year-over-year basis. On average, sell-side analysts anticipate that T. Rowe Price Group, Inc. will post 9.63 EPS for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 29th. Stockholders of record on Monday, June 15th will be paid a $1.30 dividend. The ex-dividend date is Monday, June 15th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.8%. T. Rowe Price Group's dividend payout ratio (DPR) is 55.73%.

Analysts Set New Price Targets

Several brokerages have commented on TROW. The Goldman Sachs Group increased their price target on T. Rowe Price Group from $85.00 to $90.00 in a report on Friday, May 1st. Weiss Ratings restated a "hold (c)" rating on shares of T. Rowe Price Group in a research note on Friday, May 8th. TD Cowen upped their price objective on shares of T. Rowe Price Group from $93.00 to $94.00 and gave the stock a "hold" rating in a report on Friday, May 1st. Zacks Research upgraded shares of T. Rowe Price Group from a "strong sell" rating to a "hold" rating in a research note on Wednesday, May 13th. Finally, Keefe, Bruyette & Woods lifted 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 report on Friday, May 1st. Eleven analysts have rated the stock with a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Reduce" and an average price target of $100.08.

Insider Buying and Selling at T. Rowe Price Group

In related news, VP Stephon A. Jackson sold 3,000 shares of T. Rowe Price Group stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $102.56, for a total value of $307,680.00. Following the completion of the transaction, the vice president directly owned 83,883 shares of the company's stock, valued at $8,603,040.48. The trade was a 3.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 1.60% of the company's stock.

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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