Quantinno Capital Management LP Sells 14,139 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Quantinno Capital Management LP lessened its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 43.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,487 shares of the asset manager's stock after selling 14,139 shares during the period. Quantinno Capital Management LP's holdings in T. Rowe Price Group were worth $2,014,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. increased its stake in T. Rowe Price Group by 3.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,840,807 shares of the asset manager's stock valued at $745,169,000 after buying an additional 231,286 shares during the last quarter. Victory Capital Management Inc. increased its stake in shares of T. Rowe Price Group by 3.8% during the 2nd quarter. Victory Capital Management Inc. now owns 3,436,019 shares of the asset manager's stock worth $396,207,000 after purchasing an additional 124,686 shares during the last quarter. American Century Companies Inc. increased its stake in shares of T. Rowe Price Group by 4.5% during the 2nd quarter. American Century Companies Inc. now owns 2,512,793 shares of the asset manager's stock worth $289,750,000 after purchasing an additional 107,086 shares during the last quarter. Provident Trust Co. increased its stake in shares of T. Rowe Price Group by 0.3% during the 3rd quarter. Provident Trust Co. now owns 2,397,728 shares of the asset manager's stock worth $261,185,000 after purchasing an additional 7,905 shares during the last quarter. Finally, Fisher Asset Management LLC increased its stake in shares of T. Rowe Price Group by 2.6% during the 3rd quarter. Fisher Asset Management LLC now owns 1,861,454 shares of the asset manager's stock worth $202,768,000 after purchasing an additional 47,998 shares during the last quarter. Institutional investors and hedge funds own 73.39% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on TROW shares. Evercore ISI raised their price objective on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the stock an "in-line" rating in a report on Thursday, November 7th. Barclays raised their price objective 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. The Goldman Sachs Group cut their price objective on shares of T. Rowe Price Group from $106.00 to $102.00 and set a "sell" rating for the company in a report on Thursday, October 3rd. Wells Fargo & Company raised their price objective on shares of 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. Finally, TD Cowen cut their price objective on shares of T. Rowe Price Group from $120.00 to $116.00 and set a "hold" rating for the company in a report on Monday, November 4th. Four analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. According to data from MarketBeat, T. Rowe Price Group presently has an average rating of "Hold" and a consensus price target of $116.00.

T. Rowe Price Group Trading Down 0.6 %

Shares of TROW traded down $0.70 during mid-day trading on Wednesday, reaching $122.33. 654,996 shares of the stock traded hands, compared to its average volume of 1,266,385. The firm has a fifty day moving average price of $115.87 and a 200 day moving average price of $113.14. The company has a market cap of $27.18 billion, a price-to-earnings ratio of 13.39, 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 announced its earnings results on Friday, November 1st. The asset manager reported $2.57 earnings per share (EPS) for the quarter, topping the consensus estimate 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 previous year, the business earned $2.17 earnings per share. The firm's quarterly revenue was up 6.9% compared to the same quarter last year. On average, sell-side analysts anticipate that T. Rowe Price Group, Inc. will post 9.39 EPS for the current year.

T. Rowe Price Group Announces Dividend

The business 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 $1.24 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $4.96 annualized dividend and a yield of 4.05%. T. Rowe Price Group's dividend payout ratio (DPR) is presently 54.27%.

Insider Buying and Selling

In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the business's stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $123.35, for a total value of $499,197.45. Following the completion of the sale, the vice president now directly owns 119,577 shares of the company's stock, valued at $14,749,822.95. The trade was a 3.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Jessica M. Hiebler sold 484 shares of the company's stock in a transaction dated Friday, September 13th. The shares were 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 of the company's stock, valued at approximately $1,459,831.47. This trade represents a 3.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is owned by company insiders.

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.