T. Rowe Price Group, Inc. (NASDAQ:TROW) Shares Sold by Associated Banc Corp

Associated Banc Corp trimmed its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 2.3% in the third quarter, HoldingsChannel reports. The firm owned 26,021 shares of the asset manager’s stock after selling 612 shares during the period. Associated Banc Corp’s holdings in T. Rowe Price Group were worth $2,834,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently made changes to their positions in the company. Forsta AP Fonden raised its stake in T. Rowe Price Group by 32.3% during the 2nd quarter. Forsta AP Fonden now owns 70,100 shares of the asset manager’s stock valued at $8,083,000 after acquiring an additional 17,100 shares in the last quarter. Savant Capital LLC raised its stake in shares of T. Rowe Price Group by 36.6% in the 2nd quarter. Savant Capital LLC now owns 32,887 shares of the asset manager’s stock worth $3,792,000 after buying an additional 8,816 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new position in T. Rowe Price Group during the second quarter valued at about $15,907,000. Aigen Investment Management LP bought a new stake in T. Rowe Price Group in the third quarter worth about $516,000. Finally, Cetera Advisors LLC lifted its holdings in T. Rowe Price Group by 156.3% in the 1st quarter. Cetera Advisors LLC now owns 16,826 shares of the asset manager’s stock valued at $2,051,000 after acquiring an additional 10,260 shares during the last quarter. Institutional investors and hedge funds own 73.39% of the company’s stock.

Wall Street Analyst Weigh In

TROW has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft boosted their target price on shares of T. Rowe Price Group from $115.00 to $120.00 and gave the stock a “hold” rating in a report on Monday, November 11th. Morgan Stanley lifted their price objective on shares of T. Rowe Price Group from $127.00 to $129.00 and gave the stock an “equal weight” rating in a research report on Monday, November 4th. The Goldman Sachs Group reduced their target price on 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. Barclays lifted their price target on T. Rowe Price Group from $101.00 to $110.00 and gave the company an “underweight” rating in a report on Monday, November 4th. Finally, Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $120.00 target price (down from $121.00) on shares of T. Rowe Price Group in a research note on Monday, July 29th. Four investment analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. According to MarketBeat.com, T. Rowe Price Group has an average rating of “Hold” and an average price target of $115.55.

T. Rowe Price Group Stock Performance

Shares of TROW opened at $122.97 on Tuesday. T. Rowe Price Group, Inc. has a 52 week low of $96.48 and a 52 week high of $123.29. The firm has a market capitalization of $27.32 billion, a P/E ratio of 13.45, a P/E/G ratio of 1.70 and a beta of 1.41. The company has a 50-day simple moving average of $112.54 and a 200-day simple moving average of $112.52.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings data on Friday, November 1st. The asset manager reported $2.57 earnings per share for the quarter, topping the consensus estimate of $2.36 by $0.21. The company had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.84 billion. T. Rowe Price Group had a return on equity of 20.35% and a net margin of 30.35%. T. Rowe Price Group’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter last year, the firm earned $2.17 EPS. As a group, equities analysts forecast that T. Rowe Price Group, Inc. will post 9.33 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders 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 4.03%. The ex-dividend date is Friday, December 13th. T. Rowe Price Group’s dividend payout ratio is 54.27%.

Insider Activity

In related news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of T. Rowe Price Group stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $102.83, for a total transaction of $1,230,772.27. Following the completion of the transaction, the vice president now directly owns 123,624 shares of the company’s stock, valued at $12,712,255.92. This trade represents a 8.83 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jessica M. Hiebler sold 484 shares of the company’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 sale, the insider now directly owns 13,939 shares in the company, valued at $1,459,831.47. This represents a 3.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate 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.