Northern Trust Corp Lowers Holdings in T. Rowe Price (TROW)

Northern Trust Corp reduced its holdings in shares of T. Rowe Price (NASDAQ:TROW) by 4.2% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 2,930,444 shares of the asset manager’s stock after selling 128,405 shares during the period. Northern Trust Corp owned approximately 1.21% of T. Rowe Price worth $316,399,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the business. KCM Investment Advisors LLC grew its position in T. Rowe Price by 15.7% during the 1st quarter. KCM Investment Advisors LLC now owns 3,403 shares of the asset manager’s stock worth $367,000 after purchasing an additional 461 shares during the last quarter. Tower Research Capital LLC TRC boosted its holdings in shares of T. Rowe Price by 50.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,472 shares of the asset manager’s stock valued at $155,000 after acquiring an additional 491 shares in the last quarter. BB&T Securities LLC boosted its holdings in shares of T. Rowe Price by 2.7% in the fourth quarter. BB&T Securities LLC now owns 18,973 shares of the asset manager’s stock valued at $1,990,000 after acquiring an additional 492 shares in the last quarter. Bronfman E.L. Rothschild L.P. boosted its holdings in shares of T. Rowe Price by 30.9% in the fourth quarter. Bronfman E.L. Rothschild L.P. now owns 2,101 shares of the asset manager’s stock valued at $220,000 after acquiring an additional 496 shares in the last quarter. Finally, Aviance Capital Partners LLC boosted its holdings in shares of T. Rowe Price by 2.9% in the first quarter. Aviance Capital Partners LLC now owns 17,662 shares of the asset manager’s stock valued at $1,906,000 after acquiring an additional 500 shares in the last quarter. 72.04% of the stock is currently owned by institutional investors.

Several analysts have recently weighed in on the stock. UBS lowered their target price on shares of T. Rowe Price from $125.00 to $117.00 and set a “neutral” rating on the stock in a report on Thursday. Jefferies Group raised shares of T. Rowe Price from a “neutral” rating to a “hold” rating in a report on Thursday, May 17th. Credit Suisse Group raised shares of T. Rowe Price from a “neutral” rating to an “outperform” rating and set a $123.00 target price on the stock in a report on Wednesday, May 16th. Deutsche Bank raised shares of T. Rowe Price from a “hold” rating to a “buy” rating and lowered their target price for the company from $121.00 to $114.00 in a report on Wednesday, May 16th. Finally, Zacks Investment Research raised shares of T. Rowe Price from a “sell” rating to a “hold” rating in a report on Tuesday, April 24th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $113.10.

TROW stock opened at $121.38 on Friday. The stock has a market cap of $29.70 billion, a P/E ratio of 22.35, a P/E/G ratio of 1.62 and a beta of 1.21. T. Rowe Price has a 52 week low of $68.30 and a 52 week high of $123.47.

T. Rowe Price (NASDAQ:TROW) last released its quarterly earnings data on Wednesday, April 25th. The asset manager reported $1.74 EPS for the quarter, topping analysts’ consensus estimates of $1.65 by $0.09. The firm had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.28 billion. T. Rowe Price had a net margin of 31.10% and a return on equity of 26.93%. The firm’s revenue was up 17.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.18 earnings per share. analysts forecast that T. Rowe Price will post 7.01 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 29th. Investors of record on Friday, June 15th will be issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 2.31%. The ex-dividend date is Thursday, June 14th. T. Rowe Price’s dividend payout ratio is currently 51.57%.

T. Rowe Price announced that its board has approved a share repurchase program on Thursday, April 26th that authorizes the company to buyback 10,000,000 outstanding shares. This buyback authorization authorizes the asset manager to reacquire shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.

T. Rowe Price 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 (NASDAQ:TROW)

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