T. Rowe Price Group, Inc. $TROW Stock: ProShare Advisors LLC Decreases Stake

ProShare Advisors LLC decreased its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 12.0% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 1,478,141 shares of the asset manager’s stock after selling 201,863 shares during the period. ProShare Advisors LLC’s holdings in T. Rowe Price Group were worth $153,801,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Cidel Asset Management Inc. increased its holdings in T. Rowe Price Group by 4.5% in the 3rd quarter. Cidel Asset Management Inc. now owns 4,066 shares of the asset manager’s stock valued at $423,000 after purchasing an additional 174 shares during the last quarter. Unison Advisors LLC increased its position in shares of T. Rowe Price Group by 1.1% in the third quarter. Unison Advisors LLC now owns 18,639 shares of the asset manager’s stock valued at $1,939,000 after buying an additional 201 shares in the last quarter. International Assets Investment Management LLC increased its position in T. Rowe Price Group by 250.8% during the 3rd quarter. International Assets Investment Management LLC now owns 25,000 shares of the asset manager’s stock worth $2,601,000 after purchasing an additional 17,873 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al boosted its stake in T. Rowe Price Group by 59.9% in the 3rd quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 654,000 shares of the asset manager’s stock worth $68,049,000 after buying an additional 244,900 shares during the last quarter. Finally, Soltis Investment Advisors LLC boosted its holdings in T. Rowe Price Group by 112.0% in the third quarter. Soltis Investment Advisors LLC now owns 5,191 shares of the asset manager’s stock valued at $540,000 after acquiring an additional 2,742 shares during the last quarter. 73.39% of the stock is owned by hedge funds and other institutional investors.

T. Rowe Price Group News Roundup

Here are the key news stories impacting T. Rowe Price Group this week:

• Positive Sentiment: Third-quarter adjusted earnings of $2.86 per share exceeded the $2.63 consensus estimate, while revenue reached approximately $2.0 billion versus expectations of $1.98 billion. Revenue increased 5.9% year over year, supported by higher advisory fees. T. Rowe Price Q3 Earnings and Revenues Surpass Estimates
• Positive Sentiment: Keefe, Bruyette & Woods reaffirmed its “market perform” rating but raised its price target to $113 from $112, implying approximately 8.8% potential upside based on the referenced price. Keefe, Bruyette & Woods Ratings
• Neutral Sentiment: T. Rowe Price is expanding its wealth-management operation with more than 50 new roles. The initiative could diversify growth and strengthen distribution over time, although added staffing costs may weigh on near-term efficiency. T. Rowe Price Adds Over 50 Wealth Management Roles
• Negative Sentiment: The earnings beat was offset by substantial client outflows and a decline in AUM during the quarter. Persistent redemptions are a key concern for an asset manager because they reduce fee-generating assets and could limit future revenue growth. T. Rowe Price Q3 Earnings, Revenue Beat Even as AUM Dips

T. Rowe Price Group Price Performance

T. Rowe Price Group stock opened at $103.90 on Friday. The stock’s fifty day moving average price is $105.65 and its two-hundred day moving average price is $103.70. T. Rowe Price Group, Inc. has a one year low of $85.22 and a one year high of $122.00. The firm has a market cap of $22.16 billion, a PE ratio of 10.51, a price-to-earnings-growth ratio of 3.04 and a beta of 1.45.

T. Rowe Price Group (NASDAQ:TROW) last posted its earnings results on Thursday, October 29th. The asset manager reported $2.86 EPS for the quarter, topping the consensus estimate of $2.63 by $0.23. The business had revenue of $2 billion for the quarter, compared to the consensus estimate of $1.98 billion. T. Rowe Price Group had a net margin of 28.40% and a return on equity of 20.71%. The firm’s revenue was up 5.9% compared to the same quarter last year. During the same period last year, the company earned $2.81 EPS. Sell-side analysts expect that T. Rowe Price Group, Inc. will post 10.16 earnings per share for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th were issued a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 5.0%. The ex-dividend date of this dividend was Tuesday, September 15th. T. Rowe Price Group’s payout ratio is 52.58%.

Analyst Ratings Changes

TROW has been the topic of a number of recent research reports. Barclays cut their target price on T. Rowe Price Group from $103.00 to $102.00 and set an “underweight” rating on the stock in a research note on Wednesday, October 14th. TD Cowen dropped their price target on shares of T. Rowe Price Group from $109.00 to $96.00 and set a “hold” rating on the stock in a research note on Friday. UBS Group initiated coverage on T. Rowe Price Group in a research report on Wednesday, October 7th. They issued a “neutral” rating and a $107.00 price target on the stock. BMO Capital Markets decreased their target price on T. Rowe Price Group from $120.00 to $110.00 and set a “market perform” rating on the stock in a research report on Tuesday, October 13th. Finally, Evercore set a $109.00 price objective on shares of T. Rowe Price Group in a report on Friday, October 9th. One analyst has rated the stock with a Buy rating, ten have issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Reduce” and a consensus target price of $103.15.

Insiders Place Their Bets

In other T. Rowe Price Group news, VP Joshua Nelson sold 10,000 shares of the business’s stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $111.82, for a total transaction of $1,118,200.00. Following the sale, the vice president owned 71,328 shares of the company’s stock, valued at $7,975,896.96. The trade was a 12.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.60% of the stock is owned by corporate insiders.

About T. Rowe Price Group

T. Rowe Price Group, Inc is a global investment management firm headquartered in Baltimore, Maryland. Founded in 1937 by Thomas Rowe Price Jr., the company provides investment strategies and advisory services to individual investors, retirement plans, financial intermediaries, institutions and other clients.

The company offers a range of actively managed and multi-asset investment products, including mutual funds, exchange-traded funds, separately managed accounts and other portfolio solutions.