Nomura Asset Management Co. Ltd. cut its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 3.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 377,919 shares of the asset manager's stock after selling 14,181 shares during the period. Nomura Asset Management Co. Ltd. owned about 0.17% of T. Rowe Price Group worth $41,167,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TROW. Insight Folios Inc grew its holdings 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. Keystone Financial Services increased its position in shares of T. Rowe Price Group by 5.1% during the 3rd quarter. Keystone Financial Services now owns 1,885 shares of the asset manager's stock valued at $205,000 after purchasing an additional 92 shares during the last quarter. Nvwm LLC raised its stake in shares of T. Rowe Price Group by 2.2% during the 3rd quarter. Nvwm LLC now owns 4,496 shares of the asset manager's stock worth $490,000 after purchasing an additional 95 shares during the period. Strategy Asset Managers LLC boosted its holdings in shares of T. Rowe Price Group by 4.6% in the 3rd quarter. Strategy Asset Managers LLC now owns 2,169 shares of the asset manager's stock worth $236,000 after buying an additional 95 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its position 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 valued at $49,000 after buying an additional 99 shares during the period. Hedge funds and other institutional investors own 73.39% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research firms recently commented on TROW. Barclays lifted their price target on shares of T. Rowe Price Group from $110.00 to $115.00 and gave the stock an "underweight" rating in a report on Monday. JPMorgan Chase & Co. dropped their price target on T. Rowe Price Group from $116.00 to $115.00 and set an "underweight" rating on the stock in a research report on Monday, November 4th. Morgan Stanley lifted their price objective 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. Evercore ISI upped 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 report on Thursday, November 7th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of T. Rowe Price Group from $115.00 to $120.00 and gave the stock a "hold" rating in a research note on Monday, November 11th. Four investment analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $116.00.
View Our Latest Stock Report on T. Rowe Price Group
Insider Activity
In other news, insider Jessica M. Hiebler sold 484 shares of the stock in a transaction 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 of the company's stock, valued at approximately $1,459,831.47. This represents a 3.36 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 2.00% of the stock is currently owned by company insiders.
T. Rowe Price Group Price Performance
TROW traded down $0.56 during trading on Tuesday, hitting $123.03. 1,514,629 shares of the stock traded hands, compared to its average volume of 1,269,022. The firm has a market capitalization of $27.33 billion, a P/E 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 12-month low of $97.50 and a 12-month high of $125.81. The firm has a 50-day moving average of $115.55 and a 200 day moving average of $113.11.
T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last posted 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 company had revenue of $1.79 billion during the quarter, compared to analyst estimates of $1.84 billion. During the same period in the prior year, the business posted $2.17 earnings per share. T. Rowe Price Group's revenue for the quarter was up 6.9% on a year-over-year basis. As a group, equities analysts predict that T. Rowe Price Group, Inc. will post 9.39 EPS for the current fiscal year.
T. Rowe Price Group Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be paid a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a yield of 4.03%. The ex-dividend date is Friday, December 13th. T. Rowe Price Group's payout ratio is currently 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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