Mizuho Markets Americas LLC Sells 6,195 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Mizuho Markets Americas LLC reduced its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 11.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 49,309 shares of the asset manager's stock after selling 6,195 shares during the quarter. Mizuho Markets Americas LLC's holdings in T. Rowe Price Group were worth $5,371,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Mitsubishi UFJ Trust & Banking Corp lifted its stake in T. Rowe Price Group by 3.1% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 204,369 shares of the asset manager's stock valued at $24,812,000 after buying an additional 6,153 shares during the period. Edgestream Partners L.P. raised its position in shares of T. Rowe Price Group by 40.3% in the 1st quarter. Edgestream Partners L.P. now owns 11,656 shares of the asset manager's stock valued at $1,421,000 after acquiring an additional 3,347 shares during the period. Davis R M Inc. boosted its stake in T. Rowe Price Group by 9.1% during the 1st quarter. Davis R M Inc. now owns 145,369 shares of the asset manager's stock worth $17,723,000 after acquiring an additional 12,140 shares during the last quarter. O Shaughnessy Asset Management LLC grew its holdings in T. Rowe Price Group by 44.5% during the first quarter. O Shaughnessy Asset Management LLC now owns 16,040 shares of the asset manager's stock valued at $1,956,000 after purchasing an additional 4,938 shares during the period. Finally, Seven Eight Capital LP acquired a new position in T. Rowe Price Group during the first quarter valued at approximately $679,000. Institutional investors own 73.39% of the company's stock.

T. Rowe Price Group Stock Performance

T. Rowe Price Group stock traded down $1.03 during mid-day trading on Friday, reaching $118.77. The company's stock had a trading volume of 1,319,129 shares, compared to its average volume of 1,410,650. The business's 50 day simple moving average is $110.77 and its 200 day simple moving average is $112.18. T. Rowe Price Group, Inc. has a 12 month low of $96.46 and a 12 month high of $122.27. The company has a market capitalization of $26.39 billion, a price-to-earnings ratio of 12.99, a price-to-earnings-growth ratio of 1.68 and a beta of 1.41.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last released its earnings results on Friday, November 1st. The asset manager reported $2.57 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.36 by $0.21. The business had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.84 billion. T. Rowe Price Group had a return on equity of 20.35% and a net margin of 30.35%. T. Rowe Price Group's quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.17 earnings per share. As a group, sell-side analysts expect 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 announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be issued a dividend of $1.24 per share. The ex-dividend date is Friday, December 13th. This represents a $4.96 dividend on an annualized basis and a yield of 4.18%. T. Rowe Price Group's payout ratio is 54.27%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. Keefe, Bruyette & Woods reissued a "market perform" rating and set a $120.00 price target (down from $121.00) on shares of T. Rowe Price Group in a research report on Monday, July 29th. JPMorgan Chase & Co. decreased their target price 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. Deutsche Bank Aktiengesellschaft increased their price target 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. Morgan Stanley lifted their price objective on T. Rowe Price Group from $127.00 to $129.00 and gave the company an "equal weight" rating in a report on Monday, November 4th. Finally, TD Cowen lowered their target price on T. Rowe Price Group from $120.00 to $116.00 and set a "hold" rating for the company in a research note on Monday, November 4th. 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, T. Rowe Price Group currently has a consensus rating of "Hold" and an average target price of $115.55.

Insiders Place Their Bets

In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 484 shares of the company's 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 owns 13,939 shares in the company, valued at $1,459,831.47. This represents a 3.36 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of T. Rowe Price Group stock in a transaction that occurred 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 transaction, the vice president now owns 123,624 shares of the company's stock, valued at $12,712,255.92. This represents a 8.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.00% of the company's stock.

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.