Vanguard Group Inc. Cuts Position in T. Rowe Price Group, Inc. $TROW

Vanguard Group Inc. trimmed its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 0.1% during the third quarter, Holdings Channel reports. The firm owned 26,393,723 shares of the asset manager’s stock after selling 22,995 shares during the quarter. Vanguard Group Inc. owned approximately 0.12% of T. Rowe Price Group worth $2,709,052,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. State of New Jersey Common Pension Fund D lifted its stake in T. Rowe Price Group by 5.8% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 69,640 shares of the asset manager’s stock worth $7,148,000 after acquiring an additional 3,821 shares in the last quarter. HighTower Advisors LLC increased its stake in T. Rowe Price Group by 13.0% during the third quarter. HighTower Advisors LLC now owns 220,153 shares of the asset manager’s stock worth $22,596,000 after purchasing an additional 25,253 shares during the period. GenTrust LLC purchased a new stake in T. Rowe Price Group during the third quarter worth about $206,000. Taylor Hoffman Capital Management LLC lifted its position in shares of T. Rowe Price Group by 3.6% during the third quarter. Taylor Hoffman Capital Management LLC now owns 42,785 shares of the asset manager’s stock worth $4,391,000 after purchasing an additional 1,473 shares in the last quarter. Finally, Aberdeen Group plc boosted its stake in shares of T. Rowe Price Group by 0.7% in the third quarter. Aberdeen Group plc now owns 203,405 shares of the asset manager’s stock valued at $20,681,000 after purchasing an additional 1,512 shares during the period. 73.39% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on TROW shares. Argus raised shares of T. Rowe Price Group to a “hold” rating in a research note on Thursday, February 5th. Zacks Research lowered T. Rowe Price Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 9th. Morgan Stanley cut their price objective on T. Rowe Price Group from $123.00 to $115.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 10th. TD Cowen decreased their target price on T. Rowe Price Group from $109.00 to $97.00 and set a “hold” rating for the company in a report on Thursday, February 5th. Finally, Citigroup boosted their target price on T. Rowe Price Group from $105.00 to $107.00 in a research note on Monday, November 3rd. Twelve analysts have rated the stock with a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat, T. Rowe Price Group currently has a consensus rating of “Reduce” and a consensus target price of $102.23.

Insider Buying and Selling at T. Rowe Price Group

In related news, VP Arif Husain sold 4,260 shares of the stock in a transaction on Wednesday, December 10th. The shares were sold at an average price of $101.96, for a total value of $434,349.60. Following the transaction, the vice president directly owned 47,102 shares of the company’s stock, valued at $4,802,519.92. This trade represents a 8.29% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 2.00% of the company’s stock.

T. Rowe Price Group Price Performance

Shares of NASDAQ TROW opened at $94.93 on Thursday. The business has a 50-day moving average of $102.78 and a two-hundred day moving average of $103.84. The company has a market capitalization of $20.70 billion, a price-to-earnings ratio of 10.26, a price-to-earnings-growth ratio of 4.84 and a beta of 1.53. T. Rowe Price Group, Inc. has a 1 year low of $77.85 and a 1 year high of $118.22.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings data on Wednesday, February 4th. The asset manager reported $2.44 EPS for the quarter, missing analysts’ consensus estimates of $2.47 by ($0.03). The business had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $1.92 billion. T. Rowe Price Group had a net margin of 28.53% and a return on equity of 20.29%. The company’s revenue was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.12 EPS. As a group, equities research analysts expect that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current year.

T. Rowe Price Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 30th. Shareholders of record on Monday, March 16th will be issued a dividend of $1.30 per share. The ex-dividend date of this dividend is Monday, March 16th. This is an increase from T. Rowe Price Group’s previous quarterly dividend of $1.27. This represents a $5.20 dividend on an annualized basis and a yield of 5.5%. T. Rowe Price Group’s dividend payout ratio is 54.92%.

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.