PARK CIRCLE Co Has $4.51 Million Position in T. Rowe Price Group, Inc. $TROW

Key Points

• PARK CIRCLE Co cut its stake in T. Rowe Price Group by 21.4% in the fourth quarter, but still held 44,041 shares valued at about $4.51 million. The stock remains a major holding, making up 3.9% of the fund’s portfolio.
• Insider activity included VP Stephon A. Jackson selling 3,000 shares at an average price of $102.56, reducing his position by 3.45%. Corporate insiders own 1.60% of the company.
• T. Rowe Price reported better-than-expected quarterly results with EPS of $2.52 versus $2.37 expected, and revenue of $1.86 billion. The company also declared a quarterly dividend of $1.30 per share, implying a 4.7% annual yield.

PARK CIRCLE Co decreased its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 21.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 44,041 shares of the asset manager's stock after selling 12,000 shares during the quarter. T. Rowe Price Group comprises approximately 3.9% of PARK CIRCLE Co's investment portfolio, making the stock its 7th largest position. PARK CIRCLE Co's holdings in T. Rowe Price Group were worth $4,509,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. TD Private Client Wealth LLC increased its stake in shares of 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 valued at $26,000 after acquiring an additional 123 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. increased its stake in shares of 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 valued at $29,000 after acquiring an additional 238 shares in the last quarter. Canton Hathaway LLC bought a new stake in shares of T. Rowe Price Group in the 4th quarter valued at $31,000. Sound Income Strategies LLC increased its stake in shares of 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 valued at $32,000 after acquiring an additional 189 shares in the last quarter. Finally, Motiv8 Investments LLC bought a new stake in shares of T. Rowe Price Group in the 4th quarter valued at $35,000. Institutional investors own 73.39% of the company's stock.

Insider Transactions at T. Rowe Price Group

In other T. Rowe Price Group news, VP Stephon A. Jackson sold 3,000 shares of T. Rowe Price Group 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 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.60% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have recently weighed in on TROW. JPMorgan Chase & Co. lowered their price objective on shares of T. Rowe Price Group from $106.00 to $103.00 and set an "underweight" rating for the company in a research note on Friday, April 24th. Barclays boosted their price target on shares of T. Rowe Price Group from $87.00 to $89.00 and gave the company an "underweight" rating in a research note on Friday, May 1st. Keefe, Bruyette & Woods boosted their price target on shares of T. Rowe Price Group from $95.00 to $107.00 and gave the company a "market perform" rating in a research note on Friday, May 1st. TD Cowen boosted their price target on shares of T. Rowe Price Group from $93.00 to $94.00 and gave the company a "hold" rating in a research note on Friday, May 1st. Finally, Jefferies Financial Group decreased their price target on shares of T. Rowe Price Group from $107.00 to $91.00 and set a "hold" rating for the company in a research note on Wednesday, April 8th. Eleven research analysts have rated the stock with a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Reduce" and an average price target of $100.08.

T. Rowe Price Group Stock Performance

Shares of TROW stock opened at $109.64 on Monday. The firm has a market capitalization of $23.49 billion, a PE ratio of 11.75, a price-to-earnings-growth ratio of 5.61 and a beta of 1.50. The firm has a fifty day simple moving average of $100.82 and a two-hundred day simple moving average of $99.62. T. Rowe Price Group, Inc. has a 12 month low of $85.22 and a 12 month high of $118.22.

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

T. Rowe Price Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 29th. Shareholders of record on Monday, June 15th will be issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 4.7%. The ex-dividend date of this dividend is Monday, June 15th. T. Rowe Price Group's payout ratio 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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