Voya Investment Management LLC Sells 14,376 Shares of T. Rowe Price Group, Inc. $TROW

Voya Investment Management LLC decreased its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 22.6% in the third quarter, Holdings Channel reports. The institutional investor owned 49,358 shares of the asset manager’s stock after selling 14,376 shares during the quarter. Voya Investment Management LLC’s holdings in T. Rowe Price Group were worth $5,066,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. TFG Advisers LLC raised its position in shares of T. Rowe Price Group by 3.6% in the 2nd quarter. TFG Advisers LLC now owns 2,779 shares of the asset manager’s stock worth $268,000 after purchasing an additional 97 shares during the last quarter. TD Waterhouse Canada Inc. raised its holdings in T. Rowe Price Group by 66.7% in the second quarter. TD Waterhouse Canada Inc. now owns 250 shares of the asset manager’s stock worth $25,000 after buying an additional 100 shares during the last quarter. Bill Few Associates Inc. lifted its stake in shares of T. Rowe Price Group by 4.3% in the second quarter. Bill Few Associates Inc. now owns 2,577 shares of the asset manager’s stock worth $249,000 after buying an additional 107 shares in the last quarter. Dakota Wealth Management grew its holdings in shares of T. Rowe Price Group by 4.7% during the second quarter. Dakota Wealth Management now owns 2,537 shares of the asset manager’s stock valued at $245,000 after buying an additional 114 shares during the last quarter. Finally, Beacon Investment Advisors LLC increased its position in shares of T. Rowe Price Group by 1.2% during the second quarter. Beacon Investment Advisors LLC now owns 10,256 shares of the asset manager’s stock valued at $986,000 after acquiring an additional 120 shares in the last quarter. 73.39% of the stock is owned by hedge funds and other institutional investors.

T. Rowe Price Group Stock Performance

Shares of NASDAQ:TROW opened at $103.89 on Friday. The stock’s 50-day simple moving average is $102.87 and its two-hundred day simple moving average is $103.03. The stock has a market capitalization of $22.67 billion, a price-to-earnings ratio of 11.32, a PEG ratio of 2.83 and a beta of 1.53. T. Rowe Price Group, Inc. has a 52-week low of $77.85 and a 52-week high of $118.32.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings data on Friday, October 31st. The asset manager reported $2.81 earnings per share for the quarter, topping the consensus estimate of $2.55 by $0.26. The firm had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.88 billion. T. Rowe Price Group had a net margin of 28.89% and a return on equity of 19.95%. The business’s quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.57 EPS. As a group, equities analysts forecast that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Monday, December 15th will be paid a dividend of $1.27 per share. This represents a $5.08 annualized dividend and a dividend yield of 4.9%. The ex-dividend date is Monday, December 15th. T. Rowe Price Group’s dividend payout ratio (DPR) is currently 55.34%.

Insider Buying and Selling at T. Rowe Price Group

In other news, VP Arif Husain sold 4,260 shares of the business’s stock in a transaction on Wednesday, December 10th. The shares were sold at an average price of $101.96, for a total transaction of $434,349.60. Following the completion of the sale, the vice president owned 47,102 shares of the company’s stock, valued at $4,802,519.92. The trade was a 8.29% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 2.00% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

TROW has been the topic of several analyst reports. TD Cowen upped their price objective on T. Rowe Price Group from $108.00 to $112.00 and gave the company a “hold” rating in a research report on Monday, November 3rd. Jefferies Financial Group upped their price target on T. Rowe Price Group from $104.00 to $106.00 and gave the company a “hold” rating in a report on Tuesday, October 7th. Bank of America lifted their price objective on T. Rowe Price Group from $91.00 to $97.00 and gave the stock an “underperform” rating in a report on Thursday, October 2nd. The Goldman Sachs Group lowered their target price on shares of T. Rowe Price Group from $98.00 to $93.00 and set a “sell” rating on the stock in a research note on Tuesday, November 25th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of T. Rowe Price Group in a research note on Wednesday, October 8th. Twelve research analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat.com, T. Rowe Price Group currently has a consensus rating of “Reduce” and an average price target of $108.31.

T. Rowe Price Group Company Profile

T. Rowe Price Group, Inc is a global investment management firm headquartered in Baltimore, Maryland, founded by Thomas Rowe Price Jr. in 1937. The company provides a broad range of investment products and services for individual investors, financial intermediaries, retirement plan sponsors and institutional clients. Its offerings are built around active investment management and in-house research across equity, fixed income and multi-asset strategies, reflecting a long history as a research-driven asset manager.

The firm’s product lineup includes mutual funds, separate accounts, collective investment trusts, target-date and target-risk funds, and managed account solutions, as well as services for defined contribution and defined benefit retirement plans.