Blackhawk Capital Partners LLC Sells 5,655 Shares of T. Rowe Price Group, Inc. $TROW

Blackhawk Capital Partners LLC lowered its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 26.5% during the 3rd quarter, Holdings Channel reports. The firm owned 15,649 shares of the asset manager’s stock after selling 5,655 shares during the quarter. Blackhawk Capital Partners LLC’s holdings in T. Rowe Price Group were worth $1,606,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in TROW. TD Waterhouse Canada Inc. boosted its stake in T. Rowe Price Group by 66.7% during the second quarter. TD Waterhouse Canada Inc. now owns 250 shares of the asset manager’s stock valued at $25,000 after buying an additional 100 shares during the last quarter. Root Financial Partners LLC bought a new stake in T. Rowe Price Group in the third quarter worth $30,000. Vermillion & White Wealth Management Group LLC raised its stake in T. Rowe Price Group by 120.0% during the second quarter. Vermillion & White Wealth Management Group LLC now owns 319 shares of the asset manager’s stock valued at $31,000 after purchasing an additional 174 shares in the last quarter. Salomon & Ludwin LLC lifted its position in T. Rowe Price Group by 84.3% during the third quarter. Salomon & Ludwin LLC now owns 317 shares of the asset manager’s stock valued at $33,000 after purchasing an additional 145 shares during the last quarter. Finally, Atlantic Union Bankshares Corp bought a new stake in shares of T. Rowe Price Group in the 2nd quarter valued at approximately $35,000. Hedge funds and other institutional investors own 73.39% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. BMO Capital Markets increased their target price on shares of T. Rowe Price Group from $108.00 to $110.00 and gave the company a “market perform” rating in a research note on Tuesday, January 13th. Evercore ISI upped their target price on T. Rowe Price Group from $115.00 to $116.00 in a research note on Monday, January 12th. Weiss Ratings reiterated a “hold (c+)” rating on shares of T. Rowe Price Group in a report on Monday, December 29th. Bank of America boosted their price objective on T. Rowe Price Group from $85.00 to $86.00 in a report on Wednesday, January 14th. Finally, Keefe, Bruyette & Woods decreased their target price on T. Rowe Price Group from $117.00 to $115.00 and set a “market perform” rating for the company in a research report on Tuesday, December 16th. Eleven investment analysts have rated the stock with a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat, T. Rowe Price Group presently has a consensus rating of “Reduce” and a consensus price target of $107.31.

T. Rowe Price Group Trading Down 1.4%

Shares of T. Rowe Price Group stock opened at $105.63 on Friday. The stock’s fifty day moving average price is $103.93 and its 200-day moving average price is $104.51. The firm has a market cap of $23.05 billion, a P/E ratio of 11.51, a P/E/G ratio of 2.59 and a beta of 1.52. T. Rowe Price Group, Inc. has a 12 month low of $77.85 and a 12 month high of $118.32.

T. Rowe Price Group (NASDAQ:TROW) last issued its earnings results on Friday, October 31st. The asset manager reported $2.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.55 by $0.26. T. Rowe Price Group had a net margin of 28.89% and a return on equity of 19.95%. The company had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.88 billion. During the same period in the prior year, the business earned $2.57 EPS. The firm’s quarterly revenue was up 6.0% on a year-over-year basis. Analysts forecast that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 30th. Shareholders of record on Monday, December 15th were given a dividend of $1.27 per share. This represents a $5.08 annualized dividend and a yield of 4.8%. The ex-dividend date of this dividend was Monday, December 15th. T. Rowe Price Group’s dividend payout ratio (DPR) is 55.34%.

Insider Activity

In other news, VP Arif Husain sold 4,260 shares of the business’s stock in a transaction on Wednesday, December 10th. The stock was sold at an average price of $101.96, for a total value of $434,349.60. Following the completion of the transaction, the vice president directly owned 47,102 shares of the company’s stock, valued at approximately $4,802,519.92. The trade was a 8.29% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 2.00% of the company’s stock.

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.