Hsbc Holdings PLC Trims Stake in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Hsbc Holdings PLC trimmed its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 27.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund 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 institutional investors also recently modified their holdings of the stock. Lynx Investment Advisory purchased a new stake in shares of T. Rowe Price Group during the second quarter valued at approximately $29,000. Family Firm Inc. purchased a new stake in shares of T. Rowe Price Group during the second quarter valued at approximately $36,000. Versant Capital Management Inc boosted its stake in shares of T. Rowe Price Group by 660.5% during the second quarter. Versant Capital Management Inc now owns 327 shares of the asset manager's stock valued at $38,000 after purchasing an additional 284 shares during the period. EverSource Wealth Advisors LLC boosted its stake in shares of T. Rowe Price Group by 93.6% during the first quarter. EverSource Wealth Advisors LLC now owns 331 shares of the asset manager's stock valued at $40,000 after purchasing an additional 160 shares during the period. Finally, Riverview Trust Co boosted its stake in shares of T. Rowe Price Group by 136.4% during the second quarter. Riverview Trust Co now owns 357 shares of the asset manager's stock valued at $41,000 after purchasing an additional 206 shares during the period. 73.39% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 484 shares of the firm's stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $104.73, for a total value of $50,689.32. Following the sale, the insider now directly owns 13,939 shares of the company's stock, valued at $1,459,831.47. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of T. Rowe Price Group stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $102.83, for a total value of $1,230,772.27. Following the sale, the vice president now directly owns 123,624 shares of the company's stock, valued at $12,712,255.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jessica M. Hiebler sold 484 shares of T. Rowe Price Group stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $104.73, for a total value of $50,689.32. Following the transaction, the insider now owns 13,939 shares in the company, valued at approximately $1,459,831.47. The disclosure for this sale can be found here. Insiders have sold a total of 13,854 shares of company stock valued at $1,443,767 over the last ninety days. Company insiders own 2.00% of the company's stock.

T. Rowe Price Group Stock Down 2.0 %

Shares of NASDAQ TROW traded down $2.26 during mid-day trading on Friday, reaching $108.29. 2,450,888 shares of the company were exchanged, compared to its average volume of 1,275,780. The stock has a market cap of $24.11 billion, a price-to-earnings ratio of 12.86, a P/E/G ratio of 1.69 and a beta of 1.41. T. Rowe Price Group, Inc. has a 1 year low of $87.43 and a 1 year high of $122.27. The firm has a 50-day moving average of $108.80 and a 200 day moving average of $113.30.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) 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). T. Rowe Price Group had a net margin of 28.66% and a return on equity of 19.90%. The business had revenue of $1.73 billion during the quarter, compared to analysts' expectations of $1.79 billion. During the same quarter last year, the business posted $2.02 earnings per share. The company's quarterly revenue was up 7.6% compared to the same quarter last year. On average, equities analysts forecast that T. Rowe Price Group, Inc. will post 9 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be issued a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a yield of 4.58%. The ex-dividend date of this dividend is Friday, September 13th. T. Rowe Price Group's dividend payout ratio (DPR) is 58.91%.

Analyst Ratings Changes

TROW has been the subject of a number of recent analyst reports. StockNews.com downgraded T. Rowe Price Group from a "buy" rating to a "hold" rating in a report on Monday, July 29th. TD Cowen decreased their target price on T. Rowe Price Group from $123.00 to $118.00 and set a "hold" rating for the company in a report on Monday, July 29th. Barclays assumed coverage on T. Rowe Price Group in a research report on Tuesday, August 27th. They set an "underweight" rating and a $99.00 price objective for the company. Deutsche Bank Aktiengesellschaft raised their price objective on T. Rowe Price Group from $112.00 to $113.00 and gave the company a "hold" rating in a research report on Thursday, August 15th. Finally, Keefe, Bruyette & Woods reissued a "market perform" rating and set a $120.00 price objective (down previously from $121.00) on shares of T. Rowe Price Group in a research report on Monday, July 29th. Three analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $113.30.

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.