Victory Capital Management Inc. trimmed its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 8.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,152,551 shares of the asset manager's stock after selling 283,468 shares during the period. Victory Capital Management Inc. owned approximately 1.42% of T. Rowe Price Group worth $343,407,000 at the end of the most recent quarter.
Several other large investors have also made changes to their positions in TROW. Forsta AP Fonden boosted its position in T. Rowe Price Group by 32.3% in the 2nd quarter. Forsta AP Fonden now owns 70,100 shares of the asset manager's stock worth $8,083,000 after purchasing an additional 17,100 shares in the last quarter. Mizuho Markets Americas LLC increased its holdings in T. Rowe Price Group by 90.0% in the first quarter. Mizuho Markets Americas LLC now owns 90,688 shares of the asset manager's stock valued at $11,057,000 after buying an additional 42,949 shares in the last quarter. Savant Capital LLC raised its position in shares of T. Rowe Price Group by 36.6% in the second quarter. Savant Capital LLC now owns 32,887 shares of the asset manager's stock worth $3,792,000 after acquiring an additional 8,816 shares during the period. CANADA LIFE ASSURANCE Co boosted its stake in shares of T. Rowe Price Group by 4.1% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 171,259 shares of the asset manager's stock worth $20,890,000 after acquiring an additional 6,780 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System grew its position in shares of T. Rowe Price Group by 3.8% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 257,796 shares of the asset manager's stock valued at $29,105,000 after acquiring an additional 9,519 shares during the period. 73.39% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of research firms have recently commented on TROW. The Goldman Sachs Group cut their price objective on T. Rowe Price Group from $106.00 to $102.00 and set a "sell" rating for the company in a research report on Thursday, October 3rd. Wells Fargo & Company boosted their price target 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. Barclays increased their price objective on shares of T. Rowe Price Group from $101.00 to $110.00 and gave the company an "underweight" rating in a report on Monday, November 4th. Morgan Stanley boosted 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. Finally, JPMorgan Chase & Co. lowered their price objective on T. Rowe Price Group from $116.00 to $115.00 and set an "underweight" rating on the stock in a report on Monday, November 4th. Four equities research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $115.55.
View Our Latest Research Report on T. Rowe Price Group
T. Rowe Price Group Trading Up 0.1 %
T. Rowe Price Group stock traded up $0.14 during midday trading on Tuesday, hitting $118.07. 1,227,679 shares of the stock were exchanged, compared to its average volume of 1,262,281. The stock's 50-day simple moving average is $109.56 and its 200 day simple moving average is $111.99. T. Rowe Price Group, Inc. has a fifty-two week low of $91.40 and a fifty-two week high of $122.27. The stock has a market capitalization of $26.23 billion, a price-to-earnings ratio of 12.90, a PEG ratio of 1.71 and a beta of 1.41.
T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last released its quarterly earnings results on Friday, November 1st. The asset manager reported $2.57 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 net margin of 30.35% and a return on equity of 20.35%. The business's revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.17 EPS. Equities analysts anticipate that T. Rowe Price Group, Inc. will post 9.32 EPS for the current fiscal year.
T. Rowe Price Group Dividend Announcement
The business 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 $1.24 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $4.96 annualized dividend and a dividend yield of 4.20%. T. Rowe Price Group's dividend payout ratio is currently 54.27%.
Insider Activity at T. Rowe Price Group
In related news, insider Jessica M. Hiebler sold 484 shares of the firm's stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $104.73, for a total transaction of $50,689.32. Following the completion of the transaction, the insider now directly owns 13,939 shares in the company, valued at $1,459,831.47. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, insider Jessica M. Hiebler sold 484 shares of T. Rowe Price Group 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 completion of the transaction, the insider now directly owns 13,939 shares in the company, valued at approximately $1,459,831.47. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the business's stock in a transaction that occurred 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 transaction, the vice president now owns 123,624 shares of the company's stock, valued at $12,712,255.92. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 2.00% of the stock is owned by insiders.
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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