Lincoln National Corp Sells 219 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Lincoln National Corp lessened its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 2.4% in the 4th quarter, HoldingsChannel.com reports. The firm owned 8,916 shares of the asset manager’s stock after selling 219 shares during the period. Lincoln National Corp’s holdings in T. Rowe Price Group were worth $960,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. OFI Invest Asset Management bought a new stake in shares of T. Rowe Price Group during the third quarter worth approximately $25,000. Creative Financial Designs Inc. ADV raised its position in shares of T. Rowe Price Group by 83.5% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 233 shares of the asset manager’s stock valued at $25,000 after acquiring an additional 106 shares during the last quarter. Park Place Capital Corp lifted its stake in shares of T. Rowe Price Group by 1,775.0% in the 4th quarter. Park Place Capital Corp now owns 300 shares of the asset manager’s stock valued at $32,000 after purchasing an additional 284 shares during the period. Fortitude Family Office LLC bought a new position in shares of T. Rowe Price Group in the 4th quarter worth $33,000. Finally, NBC Securities Inc. acquired a new stake in shares of T. Rowe Price Group during the third quarter worth $39,000. Institutional investors and hedge funds own 73.39% of the company’s stock.

Analyst Upgrades and Downgrades

TROW has been the topic of several analyst reports. UBS Group increased their target price on T. Rowe Price Group from $100.00 to $109.00 and gave the company a “sell” rating in a research note on Friday, April 12th. Evercore ISI reduced their price objective on shares of T. Rowe Price Group from $110.00 to $107.00 and set an “in-line” rating on the stock in a research note on Tuesday, April 30th. Wells Fargo & Company boosted their price objective on shares of T. Rowe Price Group from $105.00 to $108.00 and gave the company an “underweight” rating in a report on Friday, February 9th. Keefe, Bruyette & Woods upgraded shares of T. Rowe Price Group from an “underperform” rating to a “market perform” rating and increased their target price for the stock from $106.00 to $120.00 in a report on Thursday, April 11th. Finally, TD Cowen raised shares of T. Rowe Price Group from a “sell” rating to a “hold” rating and boosted their price target for the company from $92.00 to $114.00 in a report on Monday, April 8th. Four analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. According to MarketBeat.com, T. Rowe Price Group has an average rating of “Hold” and a consensus price target of $112.10.

Insider Transactions at T. Rowe Price Group

In related news, Director Robert F. Maclellan sold 3,043 shares of the stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $113.08, for a total transaction of $344,102.44. Following the completion of the transaction, the director now directly owns 34,635 shares of the company’s stock, valued at $3,916,525.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other T. Rowe Price Group news, Director Robert F. Maclellan sold 3,043 shares of the firm’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $113.08, for a total transaction of $344,102.44. Following the completion of the sale, the director now owns 34,635 shares of the company’s stock, valued at approximately $3,916,525.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Freeman A. Hrabowski III sold 8,740 shares of the company’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $118.32, for a total transaction of $1,034,116.80. Following the completion of the transaction, the director now owns 21,073 shares in the company, valued at approximately $2,493,357.36. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.

T. Rowe Price Group Price Performance

TROW opened at $111.30 on Friday. The company has a market capitalization of $24.85 billion, a price-to-earnings ratio of 13.22, a P/E/G ratio of 1.93 and a beta of 1.40. The business’s 50-day moving average price is $115.22 and its two-hundred day moving average price is $107.71. T. Rowe Price Group, Inc. has a 1 year low of $87.43 and a 1 year high of $132.76.

T. Rowe Price Group (NASDAQ:TROW) last released its earnings results on Friday, April 26th. The asset manager reported $2.38 EPS for the quarter, beating the consensus estimate of $2.04 by $0.34. The firm had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.71 billion. T. Rowe Price Group had a return on equity of 19.70% and a net margin of 29.09%. The business’s quarterly revenue was up 13.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.69 EPS. Sell-side analysts anticipate that T. Rowe Price Group, Inc. will post 8.75 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Friday, June 14th will be given a dividend of $1.24 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $4.96 annualized dividend and a yield of 4.46%. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 58.91%.

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.