BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp reduced its position in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 13.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 37,253 shares of the asset manager's stock after selling 5,579 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's holdings in T. Rowe Price Group were worth $4,058,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in TROW. Iron Horse Wealth Management LLC increased its position in shares of T. Rowe Price Group by 90.9% during the third quarter. Iron Horse Wealth Management LLC now owns 231 shares of the asset manager's stock worth $25,000 after acquiring an additional 110 shares during the period. Hexagon Capital Partners LLC increased its position in shares of T. Rowe Price Group by 54.7% during the third quarter. Hexagon Capital Partners LLC now owns 294 shares of the asset manager's stock worth $32,000 after acquiring an additional 104 shares during the period. Family Firm Inc. purchased a new position in shares of T. Rowe Price Group during the second quarter worth approximately $36,000. Larson Financial Group LLC increased its position in shares of T. Rowe Price Group by 866.7% during the third quarter. Larson Financial Group LLC now owns 348 shares of the asset manager's stock worth $38,000 after acquiring an additional 312 shares during the period. Finally, EverSource Wealth Advisors LLC increased its position 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 worth $40,000 after acquiring an additional 160 shares during the period. 73.39% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling at T. Rowe Price Group
In other news, insider Jessica M. Hiebler sold 484 shares of T. Rowe Price Group stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $104.73, for a total value of $50,689.32. Following the sale, the insider now owns 13,939 shares in the company, valued at $1,459,831.47. This trade represents a 3.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of T. Rowe Price Group stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $102.83, for a total transaction of $1,230,772.27. Following the completion of the sale, the vice president now owns 123,624 shares in the company, valued at approximately $12,712,255.92. This trade represents a 8.83 % decrease in their position. The disclosure for this sale can be found here. 2.00% of the stock is owned by corporate insiders.
Wall Street Analyst Weigh In
A number of equities analysts have recently commented on the stock. TD Cowen reduced their target price on shares of T. Rowe Price Group from $120.00 to $116.00 and set a "hold" rating on the stock in a research report on Monday, November 4th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of T. Rowe Price Group from $115.00 to $120.00 and gave the company a "hold" rating in a research note on Monday, November 11th. JPMorgan Chase & Co. dropped their price objective on shares of T. Rowe Price Group from $116.00 to $115.00 and set an "underweight" rating on the stock in a research note on Monday, November 4th. Wells Fargo & Company increased their price objective on shares of T. Rowe Price Group from $109.00 to $112.00 and gave the company an "equal weight" rating in a research note on Wednesday, October 9th. Finally, Evercore ISI increased their price objective on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the company an "in-line" rating in a research note on Thursday, November 7th. Four investment analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $115.55.
Get Our Latest Stock Report on TROW
T. Rowe Price Group Stock Performance
Shares of T. Rowe Price Group stock traded down $0.42 during trading on Wednesday, hitting $123.00. 1,102,901 shares of the company's stock were exchanged, compared to its average volume of 1,267,204. The business has a 50-day simple moving average of $114.67 and a 200-day simple moving average of $112.99. T. Rowe Price Group, Inc. has a 52-week low of $97.50 and a 52-week high of $124.83. The stock has a market capitalization of $27.33 billion, a price-to-earnings ratio of 13.46, a PEG ratio of 1.74 and a beta of 1.42.
T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last released its quarterly earnings data on Friday, November 1st. The asset manager reported $2.57 earnings per share for the quarter, beating analysts' consensus estimates of $2.36 by $0.21. T. Rowe Price Group had a net margin of 30.35% and a return on equity of 20.35%. The company had revenue of $1.79 billion during the quarter, compared to analysts' expectations of $1.84 billion. During the same quarter in the previous year, the company earned $2.17 earnings per share. The firm's revenue for the quarter was up 6.9% on a year-over-year basis. On average, equities analysts anticipate that T. Rowe Price Group, Inc. will post 9.39 earnings per share for the current fiscal year.
T. Rowe Price Group Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be issued a $1.24 dividend. The ex-dividend date is Friday, December 13th. This represents a $4.96 dividend on an annualized basis and a yield of 4.03%. T. Rowe Price Group's payout ratio is 54.27%.
T. Rowe Price Group Profile
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Free Report)
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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