Wellington Management Group LLP Lowers Stock Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Wellington Management Group LLP trimmed its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 16.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 55,093 shares of the asset manager's stock after selling 10,676 shares during the quarter. Wellington Management Group LLP's holdings in T. Rowe Price Group were worth $6,001,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Iron Horse Wealth Management LLC grew its holdings 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 in the last quarter. Hexagon Capital Partners LLC lifted its position in 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 worth $32,000 after purchasing an additional 104 shares during the period. Family Firm Inc. acquired a new stake in T. Rowe Price Group during the second quarter worth about $36,000. True Wealth Design LLC bought a new position in T. Rowe Price Group in the 3rd quarter valued at about $37,000. Finally, Larson Financial Group LLC lifted its holdings in shares of T. Rowe Price Group by 866.7% during the 3rd quarter. Larson Financial Group LLC now owns 348 shares of the asset manager's stock worth $38,000 after acquiring an additional 312 shares during the period. Institutional investors and hedge funds own 73.39% of the company's stock.

Insider Buying and Selling at T. Rowe Price Group

In other news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the business's stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $123.35, for a total transaction 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 legal filing with the SEC, which is available at this link. Insiders own 2.00% of the company's stock.

T. Rowe Price Group Stock Performance

Shares of TROW traded down $1.39 during mid-day trading on Tuesday, reaching $117.89. 1,744,585 shares of the company were exchanged, compared to its average volume of 1,272,744. The business has a 50 day simple moving average of $116.92 and a two-hundred day simple moving average of $113.25. T. Rowe Price Group, Inc. has a 52 week low of $100.49 and a 52 week high of $125.81. The stock has a market capitalization of $26.19 billion, a PE ratio of 12.96, a PEG ratio of 1.73 and a beta of 1.42.

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 for the quarter, topping analysts' consensus estimates of $2.36 by $0.21. The business had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.84 billion. T. Rowe Price Group had a net margin of 30.35% and a return on equity of 20.35%. T. Rowe Price Group's quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter last year, the firm earned $2.17 earnings per share. On average, analysts predict that T. Rowe Price Group, Inc. will post 9.39 EPS for the current year.

T. Rowe Price Group Dividend Announcement

The company 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 dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a yield of 4.21%. The ex-dividend date is Friday, December 13th. T. Rowe Price Group's dividend payout ratio (DPR) is currently 54.27%.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of T. Rowe Price Group from $115.00 to $120.00 and gave the company a "hold" rating in a research report on Monday, November 11th. Barclays boosted their price target on T. Rowe Price Group from $110.00 to $115.00 and gave the stock an "underweight" rating in a report on Monday, December 9th. JPMorgan Chase & Co. reduced their price objective on T. Rowe Price Group from $116.00 to $115.00 and set an "underweight" rating on the stock in a research note on Monday, November 4th. Wells Fargo & Company raised their price target on shares of T. Rowe Price Group from $112.00 to $124.00 and gave the company an "equal weight" rating in a research note on Thursday, December 12th. Finally, The Goldman Sachs Group lowered their price target 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. Four investment analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $117.09.

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.