Confluence Investment Management LLC cut its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 1.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 983,989 shares of the asset manager's stock after selling 15,218 shares during the period. T. Rowe Price Group makes up about 1.4% of Confluence Investment Management LLC's portfolio, making the stock its 23rd biggest holding. Confluence Investment Management LLC owned approximately 0.44% of T. Rowe Price Group worth $107,186,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors have also recently modified their holdings of the stock. Iron Horse Wealth Management LLC lifted its stake in 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 purchasing an additional 110 shares during the last quarter. Lynx Investment Advisory bought a new stake in shares of T. Rowe Price Group during the 2nd quarter worth $29,000. Hexagon Capital Partners LLC boosted its stake in T. Rowe Price Group by 54.7% in the third quarter. Hexagon Capital Partners LLC now owns 294 shares of the asset manager's stock valued at $32,000 after buying an additional 104 shares in the last quarter. Family Firm Inc. acquired a new stake in T. Rowe Price Group in the second quarter valued at about $36,000. Finally, Versant Capital Management Inc grew its position in T. Rowe Price Group by 660.5% in the second quarter. Versant Capital Management Inc now owns 327 shares of the asset manager's stock valued at $38,000 after acquiring an additional 284 shares during the last quarter. 73.39% of the stock is currently owned by institutional investors.
T. Rowe Price Group Stock Down 2.0 %
T. Rowe Price Group stock traded down $2.44 during mid-day trading on Friday, hitting $117.62. 1,383,406 shares of the stock were exchanged, compared to its average volume of 1,263,906. The stock has a market capitalization of $26.13 billion, a price-to-earnings ratio of 12.87, a PEG ratio of 1.76 and a beta of 1.41. T. Rowe Price Group, Inc. has a 12 month low of $90.02 and a 12 month high of $122.27. The firm's fifty day simple moving average is $109.33 and its two-hundred day simple moving average is $111.92.
T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last announced its earnings results on Friday, November 1st. The asset manager reported $2.57 earnings per share for the quarter, topping 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 business had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.84 billion. During the same quarter last year, the firm earned $2.17 earnings per share. T. Rowe Price Group's quarterly revenue was up 6.9% on a year-over-year basis. As a group, analysts forecast that T. Rowe Price Group, Inc. will post 9.32 earnings per share for the current fiscal year.
T. Rowe Price Group Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be given a dividend of $1.24 per share. The ex-dividend date is Friday, December 13th. This represents a $4.96 annualized dividend and a dividend yield of 4.22%. T. Rowe Price Group's payout ratio is 54.27%.
Insider Buying and Selling
In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 484 shares of the stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $104.73, for a total transaction of $50,689.32. Following the transaction, the insider now directly owns 13,939 shares in the company, valued at approximately $1,459,831.47. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Jessica M. Hiebler sold 484 shares of the business's stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $104.73, for a total value of $50,689.32. Following the completion of the sale, the insider now directly owns 13,939 shares of the company's stock, valued at $1,459,831.47. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the stock in a transaction 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 completion of the transaction, the vice president now owns 123,624 shares in the company, valued at approximately $12,712,255.92. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by insiders.
Wall Street Analyst Weigh In
A number of research firms have recently weighed in on TROW. JPMorgan Chase & Co. decreased their price target on shares of T. Rowe Price Group from $116.00 to $115.00 and set an "underweight" rating on the stock in a report on Monday. TD Cowen decreased 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 note on Monday. The Goldman Sachs Group dropped their price target on T. Rowe Price Group from $106.00 to $102.00 and set a "sell" rating for the company in a research note on Thursday, October 3rd. Wells Fargo & Company boosted their price objective on T. Rowe Price Group from $109.00 to $112.00 and gave the stock an "equal weight" rating in a research report on Wednesday, October 9th. Finally, Barclays increased their target price on T. Rowe Price Group from $101.00 to $110.00 and gave the company an "underweight" rating in a research report on Monday. Four research analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. According to data from MarketBeat.com, T. Rowe Price Group presently has an average rating of "Hold" and a consensus price target of $115.09.
Get Our Latest Stock Analysis on T. Rowe Price Group
About T. Rowe Price Group
(
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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