Voya Investment Management LLC Trims Stake in T. Rowe Price Group Inc (NASDAQ:TROW)

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Voya Investment Management LLC reduced its position in shares of T. Rowe Price Group Inc (NASDAQ:TROW) by 7.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 119,454 shares of the asset manager’s stock after selling 9,843 shares during the period. Voya Investment Management LLC owned approximately 0.05% of T. Rowe Price Group worth $13,648,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. North Star Investment Management Corp. purchased a new position in shares of T. Rowe Price Group during the 3rd quarter valued at $27,000. Mechanics Bank Trust Department bought a new stake in shares of T. Rowe Price Group during the 3rd quarter worth $31,000. Heritage Wealth Advisors lifted its holdings in shares of T. Rowe Price Group by 201.5% during the 2nd quarter. Heritage Wealth Advisors now owns 410 shares of the asset manager’s stock worth $45,000 after acquiring an additional 274 shares during the last quarter. Usca Ria LLC bought a new stake in shares of T. Rowe Price Group during the 3rd quarter worth $45,000. Finally, Mitsubishi UFJ Securities Holdings Co. Ltd. bought a new stake in shares of T. Rowe Price Group during the 2nd quarter worth $52,000. Hedge funds and other institutional investors own 70.50% of the company’s stock.

T. Rowe Price Group stock opened at $122.26 on Tuesday. The company has a quick ratio of 3.60, a current ratio of 3.60 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $28.87 billion, a PE ratio of 17.10, a P/E/G ratio of 1.83 and a beta of 1.06. The firm has a fifty day simple moving average of $117.64 and a two-hundred day simple moving average of $111.37. T. Rowe Price Group Inc has a twelve month low of $84.59 and a twelve month high of $124.00.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings results on Thursday, October 24th. The asset manager reported $2.13 earnings per share for the quarter, topping the consensus estimate of $1.98 by $0.15. The business had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.43 billion. T. Rowe Price Group had a net margin of 35.28% and a return on equity of 28.84%. The firm’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.99 earnings per share. As a group, equities analysts expect that T. Rowe Price Group Inc will post 7.84 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 16th will be paid a $0.76 dividend. This represents a $3.04 annualized dividend and a yield of 2.49%. The ex-dividend date is Friday, December 13th. T. Rowe Price Group’s dividend payout ratio is presently 42.52%.

A number of analysts have recently issued reports on the stock. Wells Fargo & Co set a $112.00 price objective on shares of T. Rowe Price Group and gave the stock a “hold” rating in a report on Friday, October 11th. BidaskClub raised shares of T. Rowe Price Group from a “sell” rating to a “hold” rating in a report on Thursday, October 31st. BMO Capital Markets assumed coverage on shares of T. Rowe Price Group in a report on Monday, October 7th. They set a “market perform” rating and a $101.00 price objective for the company. Citigroup dropped their price objective on shares of T. Rowe Price Group from $116.00 to $110.00 and set a “neutral” rating for the company in a report on Tuesday, October 15th. Finally, ValuEngine downgraded shares of T. Rowe Price Group from a “hold” rating to a “sell” rating in a report on Monday, September 16th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $112.08.

In other T. Rowe Price Group news, VP W. Sharps Robert sold 19,064 shares of the business’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $118.50, for a total value of $2,259,084.00. Following the completion of the sale, the vice president now directly owns 467,715 shares of the company’s stock, valued at $55,424,227.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 3.10% 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.

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Institutional Ownership by Quarter for T. Rowe Price Group (NASDAQ:TROW)

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