Blackhawk Capital Partners LLC Sells 10,905 Shares of T. Rowe Price Group, Inc. $TROW

Blackhawk Capital Partners LLC reduced its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 53.9% during the second quarter, Holdings Channel.com reports. The fund owned 9,327 shares of the asset manager’s stock after selling 10,905 shares during the quarter. Blackhawk Capital Partners LLC’s holdings in T. Rowe Price Group were worth $1,060,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of TROW. Goldman Sachs Group Inc. lifted its holdings in shares of T. Rowe Price Group by 332.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 8,770,071 shares of the asset manager’s stock worth $897,880,000 after buying an additional 6,740,172 shares during the period. First Trust Advisors LP increased its stake in shares of T. Rowe Price Group by 126.5% during the fourth quarter. First Trust Advisors LP now owns 3,280,854 shares of the asset manager’s stock valued at $335,894,000 after buying an additional 1,832,231 shares during the period. Norges Bank bought a new stake in shares of T. Rowe Price Group in the fourth quarter valued at about $128,283,000. PFA Pension Forsikringsaktieselskab bought a new stake in shares of T. Rowe Price Group in the fourth quarter valued at about $61,073,000. Finally, Caisse de depot et placement du Quebec lifted its stake in T. Rowe Price Group by 81.0% in the third quarter. Caisse de depot et placement du Quebec now owns 1,306,922 shares of the asset manager’s stock worth $134,142,000 after acquiring an additional 584,949 shares during the period. Institutional investors own 73.39% of the company’s stock.

Analyst Upgrades and Downgrades

TROW has been the topic of a number of research reports. Zacks Research raised shares of T. Rowe Price Group from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 15th. BMO Capital Markets upped their target price on T. Rowe Price Group from $110.00 to $120.00 and gave the company a “market perform” rating in a research report on Monday, August 3rd. Weiss Ratings raised T. Rowe Price Group from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, July 2nd. TD Cowen upped their price objective on shares of T. Rowe Price Group from $107.00 to $108.00 and gave the company a “hold” rating in a report on Monday, August 3rd. Finally, JPMorgan Chase & Co. dropped their target price on T. Rowe Price Group from $106.00 to $103.00 and set an “underweight” rating on the stock in a report on Friday, April 24th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat, T. Rowe Price Group currently has an average rating of “Reduce” and an average target price of $105.67.

T. Rowe Price Group Stock Performance

Shares of TROW opened at $111.42 on Thursday. The stock has a 50 day moving average price of $113.35 and a 200 day moving average price of $102.56. T. Rowe Price Group, Inc. has a one year low of $85.22 and a one year high of $122.00. The stock has a market capitalization of $23.77 billion, a price-to-earnings ratio of 11.18, a PEG ratio of 4.43 and a beta of 1.47.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings data on Friday, July 31st. The asset manager reported $2.57 earnings per share for the quarter, beating analysts’ consensus estimates of $2.52 by $0.05. T. Rowe Price Group had a return on equity of 20.91% and a net margin of 29.26%.The company had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.89 billion. During the same quarter last year, the firm posted $2.24 EPS. The firm’s revenue for the quarter was up 10.7% on a year-over-year basis. On average, analysts predict that T. Rowe Price Group, Inc. will post 10.13 earnings per share for the current year.

T. Rowe Price Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 15th will be given a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date is Tuesday, September 15th. T. Rowe Price Group’s dividend payout ratio is 52.16%.

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.