KBC Group NV Sells 160,358 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

KBC Group NV trimmed its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 31.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 345,957 shares of the asset manager's stock after selling 160,358 shares during the quarter. KBC Group NV owned approximately 0.16% of T. Rowe Price Group worth $37,685,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Insight Folios Inc lifted its position in shares of T. Rowe Price Group by 3.6% in the third quarter. Insight Folios Inc now owns 2,612 shares of the asset manager's stock valued at $285,000 after acquiring an additional 90 shares in the last quarter. Massmutual Trust Co. FSB ADV grew its position in T. Rowe Price Group by 7.4% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 1,328 shares of the asset manager's stock valued at $153,000 after acquiring an additional 92 shares in the last quarter. Keystone Financial Services grew its position in shares of T. Rowe Price Group by 5.1% during the third quarter. Keystone Financial Services now owns 1,885 shares of the asset manager's stock worth $205,000 after buying an additional 92 shares in the last quarter. Nvwm LLC grew its position in shares of T. Rowe Price Group by 2.2% during the third quarter. Nvwm LLC now owns 4,496 shares of the asset manager's stock worth $490,000 after buying an additional 95 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its stake in T. Rowe Price Group by 29.9% during the second quarter. EverSource Wealth Advisors LLC now owns 430 shares of the asset manager's stock worth $49,000 after purchasing an additional 99 shares during the last quarter. 73.39% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at T. Rowe Price Group

In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 484 shares of T. Rowe Price Group 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 transaction, the insider now owns 13,939 shares in the company, valued at $1,459,831.47. The trade was a 3.36 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the business's stock in a transaction dated 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 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 ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is owned by corporate insiders.

T. Rowe Price Group Stock Performance

Shares of T. Rowe Price Group stock traded down $1.03 during trading on Friday, reaching $118.77. The company's stock had a trading volume of 1,318,808 shares, compared to its average volume of 1,266,377. The business's fifty day moving average price is $110.43 and its 200-day moving average price is $112.12. The firm has a market cap of $26.39 billion, a price-to-earnings ratio of 13.17, a price-to-earnings-growth ratio of 1.68 and a beta of 1.41. T. Rowe Price Group, Inc. has a one year low of $96.46 and a one year high of $122.27.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last issued its quarterly earnings results on Friday, November 1st. The asset manager reported $2.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.21. The firm had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.84 billion. T. Rowe Price Group had a return on equity of 20.35% and a net margin of 30.35%. The company's quarterly revenue was up 6.9% compared to the same quarter last year. During the same period in the previous year, the company posted $2.17 earnings per share. Sell-side analysts anticipate that T. Rowe Price Group, Inc. will post 9.33 EPS for the current year.

T. Rowe Price Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be given a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a dividend yield of 4.18%. The ex-dividend date is Friday, December 13th. T. Rowe Price Group's dividend payout ratio is currently 54.27%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on TROW shares. JPMorgan Chase & Co. reduced their price objective on T. Rowe Price Group from $116.00 to $115.00 and set an "underweight" rating for the company in a research note on Monday, November 4th. The Goldman Sachs Group dropped their target price on T. Rowe Price Group from $106.00 to $102.00 and set a "sell" rating on the stock in a report on Thursday, October 3rd. Evercore ISI boosted their target price 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. Keefe, Bruyette & Woods reissued a "market perform" rating and issued a $120.00 target price (down previously from $121.00) on shares of T. Rowe Price Group in a report on Monday, July 29th. Finally, StockNews.com lowered T. Rowe Price Group from a "buy" rating to a "hold" rating in a report on Monday, July 29th. Four equities research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company's stock. According to MarketBeat, T. Rowe Price Group has a consensus rating of "Hold" and an average target price of $115.55.

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.