Fmr LLC Sells 150,129 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

FMR LLC cut its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 39.1% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 233,534 shares of the asset manager's stock after selling 150,129 shares during the period. FMR LLC owned about 0.11% of T. Rowe Price Group worth $25,439,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of TROW. D.A. Davidson & CO. raised its holdings in T. Rowe Price Group by 4.6% during the third quarter. D.A. Davidson & CO. now owns 107,484 shares of the asset manager's stock valued at $11,708,000 after acquiring an additional 4,695 shares during the period. Qsemble Capital Management LP raised its holdings in T. Rowe Price Group by 172.9% during the third quarter. Qsemble Capital Management LP now owns 34,042 shares of the asset manager's stock valued at $3,708,000 after acquiring an additional 21,567 shares during the period. Bank of Montreal Can raised its holdings in T. Rowe Price Group by 5.5% during the third quarter. Bank of Montreal Can now owns 686,086 shares of the asset manager's stock valued at $75,133,000 after acquiring an additional 35,922 shares during the period. Private Trust Co. NA raised its holdings in T. Rowe Price Group by 33.2% during the third quarter. Private Trust Co. NA now owns 3,819 shares of the asset manager's stock valued at $416,000 after acquiring an additional 952 shares during the period. Finally, Independent Advisor Alliance raised its holdings in T. Rowe Price Group by 5.7% during the third quarter. Independent Advisor Alliance now owns 19,788 shares of the asset manager's stock valued at $2,156,000 after acquiring an additional 1,068 shares during the period. 73.39% of the stock is currently owned by hedge funds and other institutional investors.

T. Rowe Price Group Price Performance

Shares of TROW traded down $0.56 during midday trading on Tuesday, hitting $123.03. The stock had a trading volume of 1,514,629 shares, compared to its average volume of 1,269,022. The stock's 50 day moving average is $115.55 and its 200 day moving average is $113.11. The firm has a market cap of $27.33 billion, a PE ratio of 13.46, a price-to-earnings-growth ratio of 1.75 and a beta of 1.42. T. Rowe Price Group, Inc. has a 1 year low of $97.50 and a 1 year high of $125.81.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.84 billion. During the same period in the prior year, the company posted $2.17 EPS. The firm's revenue for the quarter was up 6.9% on a year-over-year basis. As a group, equities research analysts expect that T. Rowe Price Group, Inc. will post 9.39 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 Friday, December 27th. Stockholders of record on Friday, December 13th will be issued a $1.24 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $4.96 annualized dividend and a dividend yield of 4.03%. T. Rowe Price Group's payout ratio is 54.27%.

Insider Transactions at T. Rowe Price Group

In other 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 value of $50,689.32. Following the sale, the insider now directly owns 13,939 shares in the company, valued at approximately $1,459,831.47. This represents a 3.36 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 2.00% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Evercore ISI raised their price target on T. Rowe Price Group from $112.00 to $113.00 and gave the company an "in-line" rating in a report on Thursday, November 7th. Wells Fargo & Company lifted their target price on T. Rowe Price Group from $109.00 to $112.00 and gave the stock an "equal weight" rating in a report on Wednesday, October 9th. Morgan Stanley lifted their target price on T. Rowe Price Group from $127.00 to $129.00 and gave the stock an "equal weight" rating in a report on Monday, November 4th. TD Cowen reduced their target price on T. Rowe Price Group from $120.00 to $116.00 and set a "hold" rating on the stock in a report on Monday, November 4th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on T. Rowe Price Group from $115.00 to $120.00 and gave the stock a "hold" rating in a report on Monday, November 11th. Four 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, the stock currently has a consensus rating of "Hold" and a consensus target price of $116.00.

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.