T. Rowe Price Group, Inc. $TROW Stock Holdings Lowered by Baird Financial Group Inc.

Key Points

• Baird Financial Group Inc. reduced its holdings in T. Rowe Price Group, Inc. by 12.2% during the first quarter, owning 149,236 shares worth approximately $13.71 million at the end of the period.
• The stock is currently trading at $105.60 with a market capitalization of $23.20 billion and a dividend yield of 4.8% following a recent announcement of a $1.27 quarterly dividend.
• Several analysts have updated their price targets for T. Rowe Price Group, with Morgan Stanley increasing its target from $112.00 to $116.00 while maintaining an "equal weight" rating.

Baird Financial Group Inc. reduced its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 12.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 149,236 shares of the asset manager's stock after selling 20,738 shares during the quarter. Baird Financial Group Inc. owned 0.07% of T. Rowe Price Group worth $13,710,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Cooper Financial Group increased its position in shares of T. Rowe Price Group by 5.2% in the first quarter. Cooper Financial Group now owns 2,234 shares of the asset manager's stock worth $205,000 after acquiring an additional 110 shares in the last quarter. Hexagon Capital Partners LLC increased its position in shares of T. Rowe Price Group by 44.8% in the first quarter. Hexagon Capital Partners LLC now owns 365 shares of the asset manager's stock worth $34,000 after acquiring an additional 113 shares in the last quarter. Associated Banc Corp increased its position in shares of T. Rowe Price Group by 0.5% in the first quarter. Associated Banc Corp now owns 24,864 shares of the asset manager's stock worth $2,284,000 after acquiring an additional 114 shares in the last quarter. Wealthcare Capital Partners LLC increased its position in shares of T. Rowe Price Group by 1.2% in the first quarter. Wealthcare Capital Partners LLC now owns 9,429 shares of the asset manager's stock worth $866,000 after acquiring an additional 115 shares in the last quarter. Finally, Cullen Investment Group LTD. increased its position in shares of T. Rowe Price Group by 0.9% in the first quarter. Cullen Investment Group LTD. now owns 13,554 shares of the asset manager's stock worth $1,245,000 after acquiring an additional 117 shares in the last quarter. 73.39% of the stock is currently owned by institutional investors.

T. Rowe Price Group Stock Down 1.9%

NASDAQ TROW opened at $105.60 on Wednesday. The stock has a market capitalization of $23.20 billion, a PE ratio of 11.80, a price-to-earnings-growth ratio of 2.81 and a beta of 1.51. The company has a 50 day moving average price of $104.19 and a two-hundred day moving average price of $97.46. T. Rowe Price Group, Inc. has a 12-month low of $77.85 and a 12-month high of $125.81.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last posted its earnings results on Friday, August 1st. The asset manager reported $2.24 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.15 by $0.09. T. Rowe Price Group had a net margin of 28.72% and a return on equity of 19.77%. The firm had revenue of $1.72 billion during the quarter, compared to analysts' expectations of $1.72 billion. During the same period in the previous year, the company earned $2.26 earnings per share. The company's revenue was down .6% compared to the same quarter last year. As a group, equities analysts anticipate that T. Rowe Price Group, Inc. will post 9.29 EPS for the current year.

T. Rowe Price Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Monday, September 15th will be paid a $1.27 dividend. This represents a $5.08 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date is Monday, September 15th. T. Rowe Price Group's payout ratio is presently 56.76%.

Insider Buying and Selling at T. Rowe Price Group

In other news, VP Dorothy C. Sawyer sold 2,000 shares of the business's stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $95.43, for a total value of $190,860.00. Following the completion of the sale, the vice president directly owned 44,789 shares in the company, valued at approximately $4,274,214.27. The trade was a 4.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.60% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on TROW. Morgan Stanley lifted their target price on shares of T. Rowe Price Group from $112.00 to $116.00 and gave the stock an "equal weight" rating in a research report on Monday, August 4th. Evercore ISI lifted their target price on shares of T. Rowe Price Group from $106.00 to $110.00 and gave the stock an "in-line" rating in a research report on Monday, August 4th. Keefe, Bruyette & Woods lifted their target price on shares of T. Rowe Price Group from $110.00 to $112.00 and gave the stock a "market perform" rating in a research report on Monday, August 4th. Barclays reissued an "underweight" rating and issued a $95.00 target price (up from $91.00) on shares of T. Rowe Price Group in a research report on Monday, August 4th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of T. Rowe Price Group from $98.00 to $102.00 and gave the company an "underweight" rating in a research report on Monday, August 4th. Eight equities research analysts have rated the stock with a Hold rating and four have given a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Reduce" and a consensus price target of $101.09.

T. Rowe Price Group Company Profile

T. Rowe Price Group, Inc is a publicly owned investment manager. The firm provides its services to individuals, institutional investors, retirement plans, financial intermediaries, and institutions. It launches and manages equity and fixed income mutual funds. The firm invests in the public equity and fixed income markets across the globe.

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