Hsbc Holdings PLC Sells 210,200 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Hsbc Holdings PLC trimmed its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 27.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 542,796 shares of the asset manager’s stock after selling 210,200 shares during the period. Hsbc Holdings PLC owned approximately 0.24% of T. Rowe Price Group worth $62,596,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Victory Capital Management Inc. grew its holdings in T. Rowe Price Group by 3.8% in the 2nd quarter. Victory Capital Management Inc. now owns 3,436,019 shares of the asset manager’s stock valued at $396,207,000 after buying an additional 124,686 shares during the last quarter. American Century Companies Inc. boosted its position in shares of T. Rowe Price Group by 4.5% in the second quarter. American Century Companies Inc. now owns 2,512,793 shares of the asset manager’s stock valued at $289,750,000 after acquiring an additional 107,086 shares during the period. Fisher Asset Management LLC grew its stake in shares of T. Rowe Price Group by 6.6% in the fourth quarter. Fisher Asset Management LLC now owns 1,751,405 shares of the asset manager’s stock worth $188,609,000 after acquiring an additional 109,053 shares during the last quarter. Dimensional Fund Advisors LP increased its position in T. Rowe Price Group by 15.8% during the second quarter. Dimensional Fund Advisors LP now owns 1,611,307 shares of the asset manager’s stock worth $185,810,000 after acquiring an additional 220,105 shares during the period. Finally, First Trust Advisors LP raised its stake in T. Rowe Price Group by 1.3% during the 4th quarter. First Trust Advisors LP now owns 1,173,858 shares of the asset manager’s stock valued at $126,413,000 after purchasing an additional 15,504 shares during the last quarter. 73.39% of the stock is owned by institutional investors and hedge funds.

Insider Activity at T. Rowe Price Group

In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 1,401 shares of the business’s stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $115.85, for a total value of $162,305.85. Following the transaction, the insider now owns 14,198 shares of the company’s stock, valued at $1,644,838.30. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $102.83, for a total value of $1,230,772.27. Following the completion of the transaction, the vice president now owns 123,624 shares in the company, valued at approximately $12,712,255.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jessica M. Hiebler sold 1,401 shares of the company’s stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $115.85, for a total value of $162,305.85. Following the transaction, the insider now directly owns 14,198 shares in the company, valued at approximately $1,644,838.30. The disclosure for this sale can be found here. Insiders sold 13,854 shares of company stock valued at $1,443,767 in the last three months. Corporate insiders own 2.00% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on TROW. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $120.00 price target (down from $121.00) on shares of T. Rowe Price Group in a research report on Monday, July 29th. Wells Fargo & Company began coverage on T. Rowe Price Group in a research note on Thursday, September 12th. They set an “equal weight” rating and a $109.00 price target on the stock. StockNews.com cut T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Barclays began coverage on T. Rowe Price Group in a report on Tuesday, August 27th. They set an “underweight” rating and a $99.00 price objective on the stock. Finally, TD Cowen cut their target price on T. Rowe Price Group from $123.00 to $118.00 and set a “hold” rating for the company in a research note on Monday, July 29th. Three equities research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $113.30.

T. Rowe Price Group Stock Performance

Shares of NASDAQ TROW opened at $110.55 on Friday. The business has a fifty day moving average of $109.00 and a two-hundred day moving average of $113.36. T. Rowe Price Group, Inc. has a 52-week low of $87.43 and a 52-week high of $122.27. The stock has a market cap of $24.61 billion, a PE ratio of 13.13, a PEG ratio of 1.69 and a beta of 1.41.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings results on Friday, July 26th. The asset manager reported $2.26 EPS for the quarter, missing analysts’ consensus estimates of $2.27 by ($0.01). The firm had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.79 billion. T. Rowe Price Group had a net margin of 28.66% and a return on equity of 19.90%. T. Rowe Price Group’s quarterly revenue was up 7.6% on a year-over-year basis. During the same quarter last year, the firm earned $2.02 earnings per share. Analysts predict that T. Rowe Price Group, Inc. will post 9 earnings per share for the current year.

T. Rowe Price Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be given a dividend of $1.24 per share. The ex-dividend date is Friday, September 13th. This represents a $4.96 dividend on an annualized basis and a yield of 4.49%. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 58.91%.

About T. Rowe Price Group

T. Rowe Price Group, Inc is a publicly owned investment manager. The firm provides its services to individuals, institutional investors, retirement plans, financial intermediaries, and institutions. It launches and manages equity and fixed income mutual funds. The firm invests in the public equity and fixed income markets across the globe.