Crossmark Global Holdings Inc. Sells 548 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Crossmark Global Holdings Inc. reduced its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 4.6% in the 4th quarter, Holdings Channel.com reports. The fund owned 11,357 shares of the asset manager’s stock after selling 548 shares during the period. Crossmark Global Holdings Inc.’s holdings in T. Rowe Price Group were worth $1,284,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Principal Financial Group Inc. grew its position in T. Rowe Price Group by 2.8% in the third quarter. Principal Financial Group Inc. now owns 275,978 shares of the asset manager’s stock valued at $30,062,000 after purchasing an additional 7,503 shares in the last quarter. Janus Henderson Group PLC grew its holdings in shares of T. Rowe Price Group by 3.8% in the 3rd quarter. Janus Henderson Group PLC now owns 29,989 shares of the asset manager’s stock valued at $3,267,000 after acquiring an additional 1,100 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new position in shares of T. Rowe Price Group in the 2nd quarter valued at about $15,907,000. Aigen Investment Management LP acquired a new stake in shares of T. Rowe Price Group in the third quarter valued at about $516,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in T. Rowe Price Group by 3.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 6,840,807 shares of the asset manager’s stock worth $745,169,000 after acquiring an additional 231,286 shares in the last quarter. 73.39% of the stock is currently owned by institutional investors and hedge funds.

T. Rowe Price Group Stock Up 0.7 %

Shares of NASDAQ:TROW opened at $114.21 on Friday. T. Rowe Price Group, Inc. has a 12-month low of $100.49 and a 12-month high of $125.81. The business has a 50 day moving average of $117.31 and a 200-day moving average of $112.81. The stock has a market cap of $25.37 billion, a PE ratio of 12.50, a P/E/G ratio of 1.68 and a beta of 1.43.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings results on Friday, November 1st. The asset manager reported $2.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.21. The business had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.84 billion. T. Rowe Price Group had a return on equity of 20.35% and a net margin of 30.35%. The firm’s quarterly revenue was up 6.9% on a year-over-year basis. During the same period in the previous year, the company posted $2.17 EPS. Equities research analysts expect that T. Rowe Price Group, Inc. will post 9.45 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, December 13th were given a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a yield of 4.34%. The ex-dividend date was Friday, December 13th. T. Rowe Price Group’s dividend payout ratio is 54.27%.

Insiders Place Their Bets

In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the firm’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $123.35, for a total transaction of $499,197.45. Following the transaction, the vice president now owns 119,577 shares in the company, valued at $14,749,822.95. This trade represents a 3.27 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on TROW shares. TD Cowen decreased their price target on T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating for the company in a research note on Monday, November 4th. Wells Fargo & Company lowered their target price on shares of T. Rowe Price Group from $124.00 to $118.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 14th. Evercore ISI increased their price target on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the company an “in-line” rating in a research note on Thursday, November 7th. The Goldman Sachs Group lowered their price objective on shares of T. Rowe Price Group from $106.00 to $102.00 and set a “sell” rating on the stock in a research note on Thursday, October 3rd. Finally, StockNews.com upgraded shares of T. Rowe Price Group from a “hold” rating to a “buy” rating in a research note on Saturday. Four analysts have rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $115.82.

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.