Zacks Investment Management Lowers Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Zacks Investment Management reduced its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 2.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 66,987 shares of the asset manager’s stock after selling 1,414 shares during the period. Zacks Investment Management’s holdings in T. Rowe Price Group were worth $7,297,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the business. Simplicity Wealth LLC raised its position in T. Rowe Price Group by 7.7% in the 2nd quarter. Simplicity Wealth LLC now owns 2,967 shares of the asset manager’s stock valued at $342,000 after purchasing an additional 212 shares in the last quarter. QRG Capital Management Inc. boosted its holdings in shares of T. Rowe Price Group by 2.8% in the second quarter. QRG Capital Management Inc. now owns 5,199 shares of the asset manager’s stock valued at $599,000 after acquiring an additional 140 shares during the period. Czech National Bank grew its position in T. Rowe Price Group by 8.0% during the 2nd quarter. Czech National Bank now owns 42,552 shares of the asset manager’s stock worth $4,907,000 after purchasing an additional 3,157 shares during the last quarter. Occidental Asset Management LLC increased its stake in T. Rowe Price Group by 6.7% in the second quarter. Occidental Asset Management LLC now owns 26,401 shares of the asset manager’s stock valued at $3,044,000 after purchasing an additional 1,656 shares during the period. Finally, LVW Advisors LLC increased its position in T. Rowe Price Group by 33.5% in the 2nd quarter. LVW Advisors LLC now owns 5,790 shares of the asset manager’s stock valued at $668,000 after acquiring an additional 1,452 shares during the period. 73.39% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at T. Rowe Price Group

In related news, insider Jessica M. Hiebler sold 484 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $104.73, for a total value of $50,689.32. Following the transaction, the insider now owns 13,939 shares in the company, valued at approximately $1,459,831.47. This trade represents a 3.36 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 2.00% of the stock is owned by company insiders.

T. Rowe Price Group Price Performance

TROW opened at $123.83 on Friday. T. Rowe Price Group, Inc. has a 12 month low of $97.50 and a 12 month high of $125.81. The business has a 50-day moving average of $115.26 and a two-hundred day moving average of $113.09. The stock has a market capitalization of $27.51 billion, a price-to-earnings ratio of 13.55, a price-to-earnings-growth ratio of 1.73 and a beta of 1.42.

T. Rowe Price Group (NASDAQ:TROW) last released its earnings results on Friday, November 1st. The asset manager reported $2.57 earnings per share (EPS) 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 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 revenue was up 6.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.17 earnings per share. Equities research analysts anticipate that T. Rowe Price Group, Inc. will post 9.39 earnings per share for the current year.

T. Rowe Price Group Dividend Announcement

The company also recently announced 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. This represents a $4.96 annualized dividend and a dividend yield of 4.01%. The ex-dividend date is Friday, December 13th. T. Rowe Price Group’s dividend payout ratio (DPR) is currently 54.27%.

Wall Street Analyst Weigh In

TROW has been the topic of several recent research reports. 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 note on Monday, November 11th. JPMorgan Chase & Co. cut their price target on shares of T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating for the company in a report on Monday, November 4th. Morgan Stanley lifted their price objective on T. Rowe Price Group from $127.00 to $129.00 and gave the stock an “equal weight” rating in a report on Monday, November 4th. The Goldman Sachs Group lowered their price objective on shares of T. Rowe Price Group from $106.00 to $102.00 and set a “sell” rating on the stock in a research note on Thursday, October 3rd. Finally, Wells Fargo & Company boosted their price target on 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. Four research analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $115.55.

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.