NFJ Investment Group LLC Sells 3,006 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

NFJ Investment Group LLC decreased its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 3.3% during the third quarter, HoldingsChannel reports. The fund owned 87,174 shares of the asset manager’s stock after selling 3,006 shares during the quarter. NFJ Investment Group LLC’s holdings in T. Rowe Price Group were worth $9,496,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Iron Horse Wealth Management LLC grew its stake in T. Rowe Price Group by 90.9% in the 3rd quarter. Iron Horse Wealth Management LLC now owns 231 shares of the asset manager’s stock worth $25,000 after acquiring an additional 110 shares in the last quarter. Lynx Investment Advisory purchased a new position in T. Rowe Price Group in the second quarter valued at about $29,000. Hexagon Capital Partners LLC raised its stake in shares of T. Rowe Price Group by 54.7% during the 3rd quarter. Hexagon Capital Partners LLC now owns 294 shares of the asset manager’s stock worth $32,000 after acquiring an additional 104 shares in the last quarter. Family Firm Inc. purchased a new stake in shares of T. Rowe Price Group during the 2nd quarter valued at $36,000. Finally, True Wealth Design LLC purchased a new stake in T. Rowe Price Group in the third quarter valued at about $37,000. 73.39% of the stock is currently owned by institutional investors.

T. Rowe Price Group Stock Performance

Shares of TROW traded down $0.68 during trading hours on Tuesday, hitting $122.96. The stock had a trading volume of 108,755 shares, compared to its average volume of 1,262,760. T. Rowe Price Group, Inc. has a 12-month low of $97.50 and a 12-month high of $124.83. The firm has a market cap of $27.32 billion, a P/E ratio of 13.53, a P/E/G ratio of 1.74 and a beta of 1.42. The company’s fifty day simple moving average is $113.76 and its 200 day simple moving average is $112.82.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings data on Friday, November 1st. The asset manager reported $2.57 earnings per share for the quarter, beating analysts’ consensus estimates of $2.36 by $0.21. The firm had revenue of $1.79 billion during 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 quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter last year, the firm earned $2.17 EPS. As a group, sell-side analysts predict that T. Rowe Price Group, Inc. will post 9.39 earnings per share for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be given a $1.24 dividend. The ex-dividend date is Friday, December 13th. This represents a $4.96 annualized dividend and a yield of 4.03%. T. Rowe Price Group’s dividend payout ratio is presently 54.27%.

Wall Street Analysts Forecast Growth

TROW has been the subject of several research analyst reports. Evercore ISI raised their price objective on 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. JPMorgan Chase & Co. decreased their target price on T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating on the stock in a research report on Monday, November 4th. The Goldman Sachs Group dropped their price objective on shares of T. Rowe Price Group from $106.00 to $102.00 and set a “sell” rating for the company in a research note on Thursday, October 3rd. Morgan Stanley raised their target price on 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, Deutsche Bank Aktiengesellschaft lifted their price target 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. Four equities research analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. According to data from MarketBeat, T. Rowe Price Group currently has an average rating of “Hold” and a consensus price target of $115.55.

Insider Buying and Selling

In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 484 shares of the business’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 owns 13,939 shares in the company, valued at approximately $1,459,831.47. The trade was a 3.36 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the company’s 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 completion of the transaction, the vice president now directly owns 123,624 shares in the company, valued at $12,712,255.92. This trade represents a 8.83 % 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 Company 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.