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

Key Points

• HSBC Holdings PLC trimmed its T. Rowe Price Group stake by 1.9% in the fourth quarter, selling 19,993 shares and leaving it with 1,034,158 shares valued at about $106 million.
• Several other institutional investors increased their positions in TROW, and hedge funds/institutions now own 73.39% of the company, showing continued heavy institutional interest.
• T. Rowe Price recently reported better-than-expected earnings of $2.52 per share and paid a quarterly dividend of $1.30, which annualizes to a 4.4% yield.

Hsbc Holdings PLC decreased its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 1.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 1,034,158 shares of the asset manager's stock after selling 19,993 shares during the quarter. Hsbc Holdings PLC owned 0.48% of T. Rowe Price Group worth $105,986,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in TROW. Robeco Institutional Asset Management B.V. increased its holdings in T. Rowe Price Group by 17.4% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 79,003 shares of the asset manager's stock valued at $8,088,000 after buying an additional 11,691 shares during the period. Assenagon Asset Management S.A. lifted its holdings in shares of T. Rowe Price Group by 43.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 312,768 shares of the asset manager's stock worth $32,021,000 after acquiring an additional 95,351 shares during the period. LBP AM SA lifted its holdings in shares of T. Rowe Price Group by 23.9% during the 4th quarter. LBP AM SA now owns 156,879 shares of the asset manager's stock worth $16,061,000 after acquiring an additional 30,226 shares during the period. SVB Wealth LLC boosted its position in shares of T. Rowe Price Group by 77.5% during the 4th quarter. SVB Wealth LLC now owns 37,000 shares of the asset manager's stock valued at $3,788,000 after acquiring an additional 16,155 shares in the last quarter. Finally, Nordea Investment Management AB boosted its position in shares of T. Rowe Price Group by 1,307.4% during the 4th quarter. Nordea Investment Management AB now owns 325,029 shares of the asset manager's stock valued at $33,377,000 after acquiring an additional 301,934 shares in the last quarter. Institutional investors and hedge funds own 73.39% of the company's stock.

Insider Buying and Selling at T. Rowe Price Group

In related news, VP Stephon A. Jackson sold 3,000 shares of the company's stock in a transaction on Wednesday, May 13th. The shares were 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 approximately $8,603,040.48. This represents a 3.45% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.60% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

TROW has been the subject of a number of recent research reports. Morgan Stanley increased their target price on T. Rowe Price Group from $105.00 to $109.00 and gave the stock an "equal weight" rating in a report on Friday, June 26th. Evercore boosted their price target on T. Rowe Price Group from $106.00 to $111.00 in a research note on Monday, June 8th. Keefe, Bruyette & Woods upped their price target on T. Rowe Price Group from $95.00 to $107.00 and gave the company a "market perform" rating in a research report on Friday, May 1st. TD Cowen increased their price objective on T. Rowe Price Group from $93.00 to $94.00 and gave the stock a "hold" rating in a research note on Friday, May 1st. Finally, BMO Capital Markets lifted their price objective on T. Rowe Price Group from $98.00 to $110.00 and gave the company a "market perform" rating in a report on Monday, May 4th. Eleven equities research analysts have rated the stock with a Hold rating and four have given a Sell rating to the company. According to MarketBeat, T. Rowe Price Group presently has an average rating of "Reduce" and an average target price of $100.54.

T. Rowe Price Group Stock Performance

Shares of T. Rowe Price Group stock opened at $118.55 on Friday. The firm has a fifty day moving average of $105.76 and a two-hundred day moving average of $100.36. The stock has a market capitalization of $25.40 billion, a price-to-earnings ratio of 12.71, a PEG ratio of 6.02 and a beta of 1.47. T. Rowe Price Group, Inc. has a 52 week low of $85.22 and a 52 week high of $118.64.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last released its quarterly earnings data on Thursday, April 30th. The asset manager reported $2.52 EPS 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 business had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.85 billion. During the same quarter in the prior year, the company posted $2.23 earnings per share. The firm's revenue was up 5.3% on a year-over-year basis. As a group, research analysts forecast that T. Rowe Price Group, Inc. will post 9.69 EPS for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 29th. Shareholders of record on Monday, June 15th were paid a $1.30 dividend. The ex-dividend date of this dividend was Monday, June 15th. This represents a $5.20 dividend on an annualized basis and a yield of 4.4%. T. Rowe Price Group's payout ratio is presently 55.73%.

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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