T. Rowe Price Group, Inc. $TROW Position Lessened by Smithbridge Asset Management Inc. DE

Smithbridge Asset Management Inc. DE decreased its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 93.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,500 shares of the asset manager’s stock after selling 69,396 shares during the period. Smithbridge Asset Management Inc. DE’s holdings in T. Rowe Price Group were worth $406,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. TD Private Client Wealth LLC raised its stake in shares of T. Rowe Price Group by 91.8% during the 4th quarter. TD Private Client Wealth LLC now owns 257 shares of the asset manager’s stock worth $26,000 after purchasing an additional 123 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. grew 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 buying 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 approximately $31,000. Sound Income Strategies LLC increased its holdings in T. Rowe Price Group by 170.3% in the fourth quarter. Sound Income Strategies LLC now owns 300 shares of the asset manager’s stock worth $32,000 after buying an additional 189 shares during the last quarter. Finally, DV Equities LLC acquired a new position in T. Rowe Price Group in the fourth quarter worth approximately $32,000. 73.39% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

TROW has been the subject of a number of analyst reports. BMO Capital Markets lifted their target price on shares of T. Rowe Price Group from $98.00 to $110.00 and gave the company a “market perform” rating in a research note on Monday, May 4th. Evercore increased their price target on shares of T. Rowe Price Group from $106.00 to $111.00 in a research note on Monday, June 8th. Jefferies Financial Group cut their price target on shares of T. Rowe Price Group from $107.00 to $91.00 and set a “hold” rating on the stock in a report on Wednesday, April 8th. JPMorgan Chase & Co. reduced 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. Finally, Keefe, Bruyette & Woods upped their price objective on shares of T. Rowe Price Group from $95.00 to $107.00 and gave the stock a “market perform” rating in a report on Friday, May 1st. Eleven equities research analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus price target of $100.54.

Insider Buying and Selling

In related 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 value of $307,680.00. Following the transaction, the vice president owned 83,883 shares in the company, valued at $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 is available through this link. 1.60% of the stock is owned by company insiders.

T. Rowe Price Group Stock Performance

TROW opened at $118.55 on Friday. The business has a 50 day moving average price of $105.40 and a 200 day moving average price of $100.23. T. Rowe Price Group, Inc. has a twelve month low of $85.22 and a twelve month high of $118.64. The firm has a market cap of $25.40 billion, a P/E ratio of 12.71, a price-to-earnings-growth ratio of 5.90 and a beta of 1.47.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings results on Thursday, April 30th. The asset manager reported $2.52 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $1.85 billion. During the same quarter last year, the company posted $2.23 earnings per share. The company’s revenue for the quarter was up 5.3% compared to the same quarter last year. As a group, analysts anticipate that T. Rowe Price Group, Inc. will post 9.69 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 29th. Investors of record on Monday, June 15th were paid a $1.30 dividend. The ex-dividend date was Monday, June 15th. This represents a $5.20 dividend on an annualized basis and a yield of 4.4%. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 55.73%.

T. Rowe Price Group Company 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.