Crossmark Global Holdings Inc. Acquires 7,007 Shares of T. Rowe Price Group, Inc. $TROW

Crossmark Global Holdings Inc. increased its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 71.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,858 shares of the asset manager’s stock after acquiring an additional 7,007 shares during the period. Crossmark Global Holdings Inc.’s holdings in T. Rowe Price Group were worth $1,726,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. Sound Financial Strategies Group LLC bought a new stake in T. Rowe Price Group during the fourth quarter worth about $578,000. Generali Asset Management SPA SGR boosted its stake in T. Rowe Price Group by 1,680.4% during the fourth quarter. Generali Asset Management SPA SGR now owns 17,715 shares of the asset manager’s stock worth $1,814,000 after acquiring an additional 16,720 shares in the last quarter. MGO One Seven LLC raised its stake in T. Rowe Price Group by 12.7% during the fourth quarter. MGO One Seven LLC now owns 3,716 shares of the asset manager’s stock valued at $380,000 after buying an additional 418 shares during the last quarter. Crestwood Advisors Group LLC raised its stake in T. Rowe Price Group by 40.6% during the fourth quarter. Crestwood Advisors Group LLC now owns 4,190 shares of the asset manager’s stock valued at $429,000 after buying an additional 1,209 shares during the last quarter. Finally, Sequoia Financial Advisors LLC raised its stake in T. Rowe Price Group by 26.6% during the fourth quarter. Sequoia Financial Advisors LLC now owns 7,313 shares of the asset manager’s stock valued at $749,000 after buying an additional 1,538 shares during the last quarter. Institutional investors own 73.39% of the company’s stock.

T. Rowe Price Group Trading Down 1.8%

T. Rowe Price Group stock opened at $102.84 on Wednesday. The firm has a market cap of $22.04 billion, a price-to-earnings ratio of 11.02, a PEG ratio of 4.58 and a beta of 1.51. The stock has a fifty day simple moving average of $94.01 and a two-hundred day simple moving average of $99.21. 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) last posted 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 company had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.85 billion. During the same quarter in the prior year, the business earned $2.23 earnings per share. T. Rowe Price Group’s revenue for the quarter was up 5.3% compared to the same quarter last year. On average, equities research analysts forecast that T. Rowe Price Group, Inc. will post 9.61 EPS for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The firm also recently disclosed 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. This represents a $5.20 annualized dividend and a dividend yield of 5.1%. The ex-dividend date is Monday, June 15th. T. Rowe Price Group’s dividend payout ratio is 55.73%.

Analysts Set New Price Targets

A number of research analysts have issued reports on TROW shares. Zacks Research cut T. Rowe Price Group from a “hold” rating to a “strong sell” rating in a research note on Tuesday, April 14th. Keefe, Bruyette & Woods lifted their price objective on 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. Jefferies Financial Group lowered their price objective on 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. Barclays raised their price objective 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. Finally, Morgan Stanley set a $105.00 target price on shares of T. Rowe Price Group in a report on Monday, April 27th. Ten equities research analysts have rated the stock with a Hold rating and five have given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus target price of $99.54.

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.