Northwestern Mutual Wealth Management Co. Sells 5,320 Shares of T. Rowe Price Group, Inc. $TROW

Northwestern Mutual Wealth Management Co. trimmed its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 14.0% in the 4th quarter, Holdings Channel reports. The institutional investor owned 32,768 shares of the asset manager’s stock after selling 5,320 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in T. Rowe Price Group were worth $3,355,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. MTM Investment Management LLC boosted its stake in shares of T. Rowe Price Group by 3.5% during the 4th quarter. MTM Investment Management LLC now owns 3,167 shares of the asset manager’s stock worth $324,000 after purchasing an additional 107 shares during the period. GenTrust LLC lifted its stake in T. Rowe Price Group by 5.5% in the fourth quarter. GenTrust LLC now owns 2,114 shares of the asset manager’s stock worth $216,000 after purchasing an additional 110 shares during the last quarter. Fiduciary Trust Co boosted its position in shares of T. Rowe Price Group by 4.5% during the third quarter. Fiduciary Trust Co now owns 2,579 shares of the asset manager’s stock valued at $265,000 after buying an additional 111 shares during the period. 1834 Investment Advisors Co. boosted its position in shares of T. Rowe Price Group by 0.3% during the fourth quarter. 1834 Investment Advisors Co. now owns 37,490 shares of the asset manager’s stock valued at $3,838,000 after buying an additional 115 shares during the period. Finally, Allworth Financial LP grew its stake in shares of T. Rowe Price Group by 2.1% during the fourth quarter. Allworth Financial LP now owns 5,541 shares of the asset manager’s stock valued at $567,000 after buying an additional 115 shares during the last quarter. Institutional investors own 73.39% of the company’s stock.

Insider Transactions at T. Rowe Price Group

In other news, VP Stephon A. Jackson sold 3,000 shares of T. Rowe Price Group stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $102.56, for a total value of $307,680.00. Following the transaction, the vice president directly owned 83,883 shares in the company, valued at approximately $8,603,040.48. This trade represents a 3.45% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.60% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

TROW has been the subject of a number of research analyst reports. Argus raised T. Rowe Price Group to a “hold” rating in a research note on Thursday, February 5th. Morgan Stanley set a $105.00 price objective on T. Rowe Price Group in a research report on Monday, April 27th. JPMorgan Chase & Co. reduced their target price on T. Rowe Price Group from $106.00 to $103.00 and set an “underweight” rating on the stock in a research note on Friday, April 24th. TD Cowen lifted their target price on T. Rowe Price Group from $93.00 to $94.00 and gave the stock a “hold” rating in a research report on Friday, May 1st. Finally, The Goldman Sachs Group upped their price target on shares of T. Rowe Price Group from $85.00 to $90.00 in a report on Friday, May 1st. Eleven equities research 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 stock has a consensus rating of “Reduce” and a consensus price target of $99.54.

T. Rowe Price Group Stock Up 2.8%

TROW opened at $106.96 on Friday. The stock’s fifty day moving average is $98.73 and its two-hundred day moving average is $99.26. The company has a market capitalization of $22.92 billion, a P/E ratio of 11.46, a PEG ratio of 5.32 and a beta of 1.50. T. Rowe Price Group, Inc. has a 52 week low of $85.22 and a 52 week high of $118.22.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings data on Thursday, April 30th. The asset manager reported $2.52 earnings per share for the quarter, topping analysts’ consensus estimates of $2.37 by $0.15. The company 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%. The firm’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.23 earnings per share. Equities analysts anticipate that T. Rowe Price Group, Inc. will post 9.63 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 29th. Investors of record on Monday, June 15th will be issued a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 4.9%. The ex-dividend date of this dividend is Monday, June 15th. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 55.73%.

About T. Rowe Price Group

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.