Brookstone Capital Management Reduces Position in T. Rowe Price Group, Inc. $TROW

Brookstone Capital Management decreased its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 4.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 101,681 shares of the asset manager’s stock after selling 4,745 shares during the period. Brookstone Capital Management’s holdings in T. Rowe Price Group were worth $9,166,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. State Street Corp increased its stake in T. Rowe Price Group by 0.3% in the fourth quarter. State Street Corp now owns 14,159,797 shares of the asset manager’s stock valued at $1,449,680,000 after purchasing an additional 45,530 shares during the period. Goldman Sachs Group Inc. boosted its stake in shares of T. Rowe Price Group by 332.0% during the fourth 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. Charles Schwab Investment Management Inc. grew its holdings in shares of T. Rowe Price Group by 1.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 8,073,846 shares of the asset manager’s stock worth $826,600,000 after buying an additional 143,109 shares during the last quarter. Invesco Ltd. grew its holdings in shares of T. Rowe Price Group by 3.9% during the fourth quarter. Invesco Ltd. now owns 3,520,858 shares of the asset manager’s stock worth $360,465,000 after buying an additional 131,438 shares during the last quarter. Finally, Morgan Stanley increased its position in T. Rowe Price Group by 16.0% in the 4th quarter. Morgan Stanley now owns 3,443,322 shares of the asset manager’s stock valued at $352,528,000 after acquiring an additional 476,219 shares during the period. Hedge funds and other institutional investors own 73.39% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on TROW shares. JPMorgan Chase & Co. decreased their price objective on T. Rowe Price Group from $106.00 to $103.00 and set an “underweight” rating for the company in a research report on Friday, April 24th. Morgan Stanley set a $105.00 price target on T. Rowe Price Group in a research note on Monday, April 27th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of T. Rowe Price Group in a report on Friday, May 8th. Zacks Research raised shares of T. Rowe Price Group from a “strong sell” rating to a “hold” rating in a research note on Wednesday, May 13th. Finally, Keefe, Bruyette & Woods raised their target price on shares of T. Rowe Price Group from $95.00 to $107.00 and gave the stock a “market perform” rating in a research note on Friday, May 1st. Eleven investment analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Reduce” and a consensus price target of $100.08.

T. Rowe Price Group Price Performance

TROW opened at $107.99 on Tuesday. T. Rowe Price Group, Inc. has a 12 month low of $85.22 and a 12 month high of $118.22. The stock has a market capitalization of $23.14 billion, a P/E ratio of 11.57, a P/E/G ratio of 5.51 and a beta of 1.50. The business has a 50 day simple moving average of $102.94 and a 200-day simple moving average of $99.88.

T. Rowe Price Group (NASDAQ:TROW) last announced 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 firm had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.85 billion. T. Rowe Price Group had a return on equity of 20.60% and a net margin of 28.28%.T. Rowe Price Group’s quarterly revenue was up 5.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.23 earnings per share. Research analysts anticipate that T. Rowe Price Group, Inc. will post 9.63 EPS for the current year.

T. Rowe Price Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 29th. Stockholders of record on Monday, June 15th will be paid a dividend of $1.30 per share. The ex-dividend date of this dividend is Monday, June 15th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.8%. T. Rowe Price Group’s dividend payout ratio is 55.73%.

Insider Activity

In related news, VP Stephon A. Jackson sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $102.56, for a total value of $307,680.00. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.60% of the stock is owned by corporate insiders.

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.