Cardan Capital Partners LLC Reduces Stock Position in T. Rowe Price Group Inc (NASDAQ:TROW)

Cardan Capital Partners LLC reduced its position in shares of T. Rowe Price Group Inc (NASDAQ:TROW) by 2.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 31,805 shares of the asset manager’s stock after selling 684 shares during the period. Cardan Capital Partners LLC’s holdings in T. Rowe Price Group were worth $3,106,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in TROW. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its stake in T. Rowe Price Group by 12.2% in the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 84,402 shares of the asset manager’s stock worth $8,242,000 after purchasing an additional 9,157 shares in the last quarter. National Asset Management Inc. lifted its stake in shares of T. Rowe Price Group by 4.0% in the first quarter. National Asset Management Inc. now owns 2,863 shares of the asset manager’s stock worth $280,000 after buying an additional 109 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in T. Rowe Price Group by 3.5% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 19,380 shares of the asset manager’s stock valued at $1,893,000 after purchasing an additional 654 shares in the last quarter. Northwestern Mutual Investment Management Company LLC lifted its holdings in T. Rowe Price Group by 33.9% in the 1st quarter. Northwestern Mutual Investment Management Company LLC now owns 12,157 shares of the asset manager’s stock valued at $1,187,000 after purchasing an additional 3,080 shares in the last quarter. Finally, Carnegie Capital Asset Management LLC lifted its holdings in T. Rowe Price Group by 36.4% in the 1st quarter. Carnegie Capital Asset Management LLC now owns 40,018 shares of the asset manager’s stock valued at $3,909,000 after purchasing an additional 10,673 shares in the last quarter. Hedge funds and other institutional investors own 71.82% of the company’s stock.

In related news, Director Mary K. Bush sold 1,851 shares of the firm’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $115.34, for a total transaction of $213,494.34. Following the transaction, the director now directly owns 15,955 shares in the company, valued at $1,840,249.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP W. Sharps Robert sold 3,500 shares of the firm’s stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $117.50, for a total value of $411,250.00. Following the transaction, the vice president now owns 476,176 shares in the company, valued at $55,950,680. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by company insiders.

Several brokerages have recently weighed in on TROW. Bank of America cut their price objective on shares of T. Rowe Price Group from $118.00 to $98.00 and set a “buy” rating on the stock in a report on Monday, March 23rd. Citigroup increased their price objective on shares of T. Rowe Price Group from $100.00 to $112.00 and gave the stock a “neutral” rating in a report on Wednesday, April 29th. Barclays increased their target price on shares of T. Rowe Price Group from $90.00 to $100.00 and gave the stock an “underweight” rating in a research report on Wednesday, April 29th. Wells Fargo & Co increased their target price on shares of T. Rowe Price Group from $115.00 to $125.00 in a research report on Wednesday, April 29th. Finally, BMO Capital Markets increased their target price on shares of T. Rowe Price Group from $86.00 to $92.00 and gave the stock a “market perform” rating in a research report on Wednesday, April 29th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the stock. T. Rowe Price Group presently has an average rating of “Hold” and a consensus price target of $108.67.

Shares of TROW stock traded up $0.48 during mid-day trading on Friday, reaching $115.13. 25,353 shares of the company were exchanged, compared to its average volume of 1,329,762. T. Rowe Price Group Inc has a fifty-two week low of $82.51 and a fifty-two week high of $139.82. The company has a debt-to-equity ratio of 0.03, a quick ratio of 4.55 and a current ratio of 4.55. The company has a market capitalization of $26.13 billion, a P/E ratio of 14.28, a P/E/G ratio of 1.82 and a beta of 1.16. The business’s 50 day simple moving average is $106.14 and its 200 day simple moving average is $118.52.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings results on Tuesday, April 28th. The asset manager reported $1.87 earnings per share for the quarter, topping analysts’ consensus estimates of $1.79 by $0.08. T. Rowe Price Group had a net margin of 33.86% and a return on equity of 29.22%. The business had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.43 billion. During the same quarter last year, the company earned $1.87 earnings per share. The business’s quarterly revenue was up 10.2% compared to the same quarter last year. On average, analysts forecast that T. Rowe Price Group Inc will post 6.81 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be given a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a dividend yield of 3.13%. The ex-dividend date is Friday, June 12th. T. Rowe Price Group’s payout ratio is currently 44.61%.

T. Rowe Price Group Company Profile

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.

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Institutional Ownership by Quarter for T. Rowe Price Group (NASDAQ:TROW)

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