T. Rowe Price Group, Inc. (NASDAQ:TROW) Shares Sold by Morse Asset Management Inc

Morse Asset Management Inc cut its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 75.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,803 shares of the asset manager's stock after selling 11,635 shares during the period. Morse Asset Management Inc's holdings in T. Rowe Price Group were worth $414,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Iron Horse Wealth Management LLC boosted its stake in shares of T. Rowe Price Group by 90.9% during the 3rd quarter. Iron Horse Wealth Management LLC now owns 231 shares of the asset manager's stock worth $25,000 after purchasing an additional 110 shares during the period. Hexagon Capital Partners LLC boosted its position in shares of T. Rowe Price Group by 54.7% during the third quarter. Hexagon Capital Partners LLC now owns 294 shares of the asset manager's stock valued at $32,000 after buying an additional 104 shares during the period. Family Firm Inc. purchased a new position in shares of T. Rowe Price Group during the second quarter valued at approximately $36,000. True Wealth Design LLC bought a new position in shares of T. Rowe Price Group during the third quarter valued at approximately $37,000. Finally, Larson Financial Group LLC raised its holdings in shares of T. Rowe Price Group by 866.7% in the third quarter. Larson Financial Group LLC now owns 348 shares of the asset manager's stock worth $38,000 after buying an additional 312 shares during the period. 73.39% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. JPMorgan Chase & Co. dropped their price objective on T. Rowe Price Group from $116.00 to $115.00 and set an "underweight" rating for the company in a report on Monday, November 4th. Barclays boosted their target price on shares of T. Rowe Price Group from $101.00 to $110.00 and gave the company an "underweight" rating in a research note on Monday, November 4th. Evercore ISI raised their price target on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the stock an "in-line" rating in a research note on Thursday, November 7th. Wells Fargo & Company boosted their price objective on shares of T. Rowe Price Group from $109.00 to $112.00 and gave the company an "equal weight" rating in a research report on Wednesday, October 9th. Finally, Morgan Stanley upped their target price on shares of T. Rowe Price Group from $127.00 to $129.00 and gave the stock an "equal weight" rating in a research note on Monday, November 4th. Four analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. According to data from MarketBeat, T. Rowe Price Group presently has an average rating of "Hold" and a consensus price target of $115.55.

T. Rowe Price Group Trading Up 1.4 %

Shares of NASDAQ:TROW traded up $1.69 on Thursday, reaching $124.69. The company had a trading volume of 1,760,651 shares, compared to its average volume of 1,269,304. The firm has a market capitalization of $27.70 billion, a PE ratio of 13.64, a PEG ratio of 1.74 and a beta of 1.42. T. Rowe Price Group, Inc. has a 52-week low of $97.50 and a 52-week high of $124.94. The firm's 50 day simple moving average is $114.97 and its 200-day simple moving average is $113.08.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last announced its earnings results on Friday, November 1st. The asset manager reported $2.57 EPS 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 business had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.84 billion. During the same period in the previous year, the company posted $2.17 earnings per share. The firm's revenue was up 6.9% on a year-over-year basis. As a group, equities research analysts predict that T. Rowe Price Group, Inc. will post 9.39 earnings per share for the current year.

T. Rowe Price Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders 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 annualized dividend and a dividend yield of 3.98%. T. Rowe Price Group's dividend payout ratio is presently 54.27%.

Insider Transactions at T. Rowe Price Group

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 shares were sold at an average price of $104.73, for a total transaction of $50,689.32. Following the transaction, the insider now owns 13,939 shares in the company, valued at approximately $1,459,831.47. This represents a 3.36 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of T. Rowe Price Group stock in a transaction on Friday, September 6th. The stock was sold at an average price of $102.83, for a total transaction of $1,230,772.27. Following the sale, the vice president now owns 123,624 shares of the company's stock, valued at $12,712,255.92. The trade was 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 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.