Hsbc Holdings PLC Acquires 283,495 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Hsbc Holdings PLC raised its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 35.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,076,574 shares of the asset manager's stock after buying an additional 283,495 shares during the period. Hsbc Holdings PLC owned approximately 0.48% of T. Rowe Price Group worth $121,780,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. Addison Advisors LLC lifted its position in shares of T. Rowe Price Group by 67.4% in the 4th quarter. Addison Advisors LLC now owns 231 shares of the asset manager's stock valued at $26,000 after acquiring an additional 93 shares in the last quarter. Curio Wealth LLC purchased a new stake in T. Rowe Price Group in the 4th quarter worth about $27,000. Y.D. More Investments Ltd grew its stake in T. Rowe Price Group by 124.0% during the 4th quarter. Y.D. More Investments Ltd now owns 280 shares of the asset manager's stock valued at $32,000 after acquiring an additional 155 shares in the last quarter. Stonebridge Financial Group LLC acquired a new position in shares of T. Rowe Price Group in the 4th quarter valued at about $32,000. Finally, Advantage Trust Co boosted its holdings in shares of T. Rowe Price Group by 48.8% during the fourth quarter. Advantage Trust Co now owns 305 shares of the asset manager's stock worth $34,000 after purchasing an additional 100 shares during the period. Institutional investors and hedge funds own 73.39% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. TD Cowen decreased their target price on shares of T. Rowe Price Group from $112.00 to $89.00 and set a "hold" rating for the company in a research note on Wednesday, April 9th. Wells Fargo & Company reduced their price target on T. Rowe Price Group from $116.00 to $98.00 and set an "equal weight" rating for the company in a report on Tuesday, April 8th. Bank of America reduced their target price on shares of T. Rowe Price Group from $90.00 to $85.00 and set an "underperform" rating for the company in a research note on Thursday, April 3rd. JPMorgan Chase & Co. reduced their price objective on shares of T. Rowe Price Group from $110.00 to $90.00 and set an "underweight" rating for the company in a research note on Wednesday, April 16th. Finally, Evercore ISI reduced their price target on T. Rowe Price Group from $104.00 to $80.00 and set an "in-line" rating for the company in a research report on Friday, April 11th. Four research analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. According to data from MarketBeat, T. Rowe Price Group presently has a consensus rating of "Hold" and an average target price of $96.00.

T. Rowe Price Group Price Performance

Shares of NASDAQ TROW traded down $1.08 during mid-day trading on Friday, hitting $88.44. The company had a trading volume of 1,575,567 shares, compared to its average volume of 1,461,284. T. Rowe Price Group, Inc. has a 12 month low of $77.85 and a 12 month high of $125.81. The firm has a market cap of $19.66 billion, a P/E ratio of 9.66, a PEG ratio of 2.86 and a beta of 1.50. The business's 50-day simple moving average is $93.61 and its 200-day simple moving average is $107.71.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last announced its quarterly earnings data on Wednesday, February 5th. The asset manager reported $2.12 earnings per share for the quarter, missing the consensus estimate of $2.20 by ($0.08). T. Rowe Price Group had a return on equity of 20.83% and a net margin of 29.61%. During the same period last year, the business posted $1.72 EPS. As a group, sell-side analysts predict that T. Rowe Price Group, Inc. will post 9.29 EPS for the current year.

T. Rowe Price Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were paid a $1.27 dividend. This is a boost from T. Rowe Price Group's previous quarterly dividend of $1.24. The ex-dividend date was Friday, March 14th. This represents a $5.08 dividend on an annualized basis and a dividend yield of 5.74%. T. Rowe Price Group's dividend payout ratio is currently 55.46%.

Insider Activity at T. Rowe Price Group

In related news, VP Arif Husain sold 4,112 shares of the stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $109.27, for a total transaction of $449,318.24. Following the completion of the sale, the vice president now owns 36,800 shares in the company, valued at $4,021,136. This trade represents a 10.05 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Robert F. Maclellan sold 3,955 shares of the business's stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $91.56, for a total transaction of $362,119.80. Following the completion of the transaction, the director now owns 42,979 shares in the company, valued at approximately $3,935,157.24. This trade represents a 8.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by insiders.

T. Rowe Price Group 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.