T. Rowe Price Group, Inc. (NASDAQ:TROW) Position Reduced by Partnership Wealth Management LLC

Partnership Wealth Management LLC cut its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 16.7% during the 3rd quarter, Holdings Channel reports. The firm owned 10,457 shares of the asset manager’s stock after selling 2,089 shares during the period. T. Rowe Price Group comprises 0.8% of Partnership Wealth Management LLC’s investment portfolio, making the stock its 25th largest position. Partnership Wealth Management LLC’s holdings in T. Rowe Price Group were worth $1,139,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Ashton Thomas Private Wealth LLC purchased a new position in T. Rowe Price Group during the first quarter valued at approximately $1,008,000. Nebula Research & Development LLC purchased a new position in T. Rowe Price Group in the fourth quarter valued at about $807,000. Fisher Asset Management LLC increased its position in T. Rowe Price Group by 6.6% in the 4th quarter. Fisher Asset Management LLC now owns 1,751,405 shares of the asset manager’s stock worth $188,609,000 after purchasing an additional 109,053 shares during the last quarter. Envestnet Portfolio Solutions Inc. raised its stake in shares of T. Rowe Price Group by 52.4% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 65,534 shares of the asset manager’s stock worth $7,990,000 after purchasing an additional 22,533 shares in the last quarter. Finally, Norden Group LLC acquired a new stake in shares of T. Rowe Price Group during the 1st quarter valued at about $8,437,000. Institutional investors own 73.39% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on TROW. Barclays started coverage on T. Rowe Price Group in a report on Tuesday, August 27th. They issued an “underweight” rating and a $99.00 price objective on the stock. Evercore ISI increased their price target on shares of T. Rowe Price Group from $108.00 to $109.00 and gave the stock an “in-line” rating in a research note on Friday, October 4th. The Goldman Sachs Group cut their price target on shares of T. Rowe Price Group from $106.00 to $102.00 and set a “sell” rating on the stock in a report on Thursday, October 3rd. StockNews.com downgraded shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Finally, Keefe, Bruyette & Woods restated a “market perform” rating and set a $120.00 target price (down from $121.00) on shares of T. Rowe Price Group in a report on Monday, July 29th. Four investment analysts have rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. According to MarketBeat.com, T. Rowe Price Group currently has a consensus rating of “Hold” and a consensus target price of $112.36.

Insiders Place Their Bets

In related news, insider Jessica M. Hiebler sold 484 shares of the stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $104.73, for a total value of $50,689.32. Following the completion of the sale, the insider now owns 13,939 shares in the company, valued at approximately $1,459,831.47. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Jessica M. Hiebler sold 484 shares of the business’s stock in a transaction that occurred on 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 directly owns 13,939 shares in the company, valued at approximately $1,459,831.47. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the company’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $102.83, for a total value of $1,230,772.27. Following the completion of the transaction, the vice president now owns 123,624 shares of the company’s stock, valued at $12,712,255.92. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.

T. Rowe Price Group Stock Performance

T. Rowe Price Group stock opened at $106.60 on Wednesday. T. Rowe Price Group, Inc. has a 52 week low of $87.43 and a 52 week high of $122.27. The firm has a market capitalization of $23.73 billion, a PE ratio of 12.66, a PEG ratio of 1.81 and a beta of 1.41. The business’s 50-day simple moving average is $106.92 and its 200-day simple moving average is $112.49.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings results on Friday, July 26th. The asset manager reported $2.26 EPS for the quarter, missing the consensus estimate of $2.27 by ($0.01). T. Rowe Price Group had a return on equity of 19.90% and a net margin of 28.66%. The business had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.79 billion. During the same period in the prior year, the firm earned $2.02 earnings per share. The business’s quarterly revenue was up 7.6% on a year-over-year basis. Research analysts forecast that T. Rowe Price Group, Inc. will post 8.97 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were issued a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a yield of 4.65%. The ex-dividend date of this dividend was Friday, September 13th. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 58.91%.

T. Rowe Price Group 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.