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

Hsbc Holdings PLC lifted its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 35.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,076,574 shares of the asset manager's stock after acquiring an additional 283,495 shares during the quarter. Hsbc Holdings PLC owned approximately 0.48% of T. Rowe Price Group worth $121,780,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Addison Advisors LLC boosted its position in T. Rowe Price Group by 67.4% during the fourth quarter. Addison Advisors LLC now owns 231 shares of the asset manager's stock worth $26,000 after purchasing an additional 93 shares during the period. Curio Wealth LLC bought a new stake in shares of T. Rowe Price Group during the 4th quarter worth about $27,000. Y.D. More Investments Ltd grew its stake in T. Rowe Price Group by 124.0% in the 4th quarter. Y.D. More Investments Ltd now owns 280 shares of the asset manager's stock valued at $32,000 after buying an additional 155 shares during the last quarter. Stonebridge Financial Group LLC bought a new position in T. Rowe Price Group in the 4th quarter valued at about $32,000. Finally, Advantage Trust Co lifted its position in 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 acquiring an additional 100 shares during the last quarter. 73.39% of the stock is owned by institutional investors and hedge funds.

T. Rowe Price Group Trading Down 1.2 %

T. Rowe Price Group stock traded down $1.08 during mid-day trading on Friday, reaching $88.44. The company had a trading volume of 1,575,567 shares, compared to its average volume of 1,461,281. The business has a fifty day simple moving average of $93.61 and a 200 day simple moving average of $107.71. The company has a market cap of $19.66 billion, a P/E ratio of 9.66, a P/E/G ratio of 2.86 and a beta of 1.50. T. Rowe Price Group, Inc. has a fifty-two week low of $77.85 and a fifty-two week high of $125.81.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last issued its quarterly earnings data on Wednesday, February 5th. The asset manager reported $2.12 earnings per share for the quarter, missing analysts' consensus estimates 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 in the prior year, the business posted $1.72 EPS. Research analysts forecast 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. Investors of record on Friday, March 14th were issued a $1.27 dividend. This represents a $5.08 dividend on an annualized basis and a yield of 5.74%. The ex-dividend date of this dividend was Friday, March 14th. This is a positive change from T. Rowe Price Group's previous quarterly dividend of $1.24. T. Rowe Price Group's dividend payout ratio (DPR) is 55.46%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. dropped their target price on T. Rowe Price Group from $110.00 to $90.00 and set an "underweight" rating for the company in a report on Wednesday, April 16th. StockNews.com downgraded T. Rowe Price Group from a "buy" rating to a "hold" rating in a research note on Sunday, February 2nd. Bank of America reduced their price objective on shares of T. Rowe Price Group from $90.00 to $85.00 and set an "underperform" rating on the stock in a research note on Thursday, April 3rd. Wells Fargo & Company dropped their target price on shares of T. Rowe Price Group from $116.00 to $98.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 8th. Finally, The Goldman Sachs Group cut their price target on shares of T. Rowe Price Group from $89.00 to $80.00 and set a "sell" rating for the company in a report on Monday, April 14th. Four equities research analysts have rated the stock with a sell rating and eight have given a hold rating to the company. According to MarketBeat, T. Rowe Price Group presently has a consensus rating of "Hold" and an average target price of $96.00.

Insider Activity at T. Rowe Price Group

In other news, Director Robert F. Maclellan sold 3,955 shares of the firm's stock in a transaction on 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 of the company's stock, valued at approximately $3,935,157.24. This trade represents a 8.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Arif Husain sold 4,112 shares of the business's stock in a transaction on Tuesday, February 11th. The stock was 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 directly owns 36,800 shares in the company, valued at approximately $4,021,136. This represents a 10.05 % decrease in their position. The disclosure for this sale can be found here. 2.00% of the stock is owned by company insiders.

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.