Signaturefd LLC Cuts Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Signaturefd LLC cut its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 8.7% during the third quarter, HoldingsChannel reports. The fund owned 3,493 shares of the asset manager’s stock after selling 333 shares during the quarter. Signaturefd LLC’s holdings in T. Rowe Price Group were worth $380,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Victory Capital Management Inc. boosted its position in shares of T. Rowe Price Group by 3.8% in the 2nd quarter. Victory Capital Management Inc. now owns 3,436,019 shares of the asset manager’s stock worth $396,207,000 after purchasing an additional 124,686 shares in the last quarter. American Century Companies Inc. boosted its position in shares of T. Rowe Price Group by 4.5% in the 2nd quarter. American Century Companies Inc. now owns 2,512,793 shares of the asset manager’s stock worth $289,750,000 after purchasing an additional 107,086 shares in the last quarter. ProShare Advisors LLC boosted its position in shares of T. Rowe Price Group by 2.5% in the 2nd quarter. ProShare Advisors LLC now owns 1,635,519 shares of the asset manager’s stock worth $188,592,000 after purchasing an additional 40,490 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of T. Rowe Price Group by 15.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,611,307 shares of the asset manager’s stock worth $185,810,000 after purchasing an additional 220,105 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of T. Rowe Price Group by 0.7% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 654,139 shares of the asset manager’s stock worth $75,429,000 after purchasing an additional 4,701 shares in the last quarter. 73.39% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

TROW has been the subject of a number of research reports. StockNews.com cut T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. TD Cowen lowered their price target on T. Rowe Price Group from $123.00 to $118.00 and set a “hold” rating for the company in a research report on Monday, July 29th. Wells Fargo & Company lifted their price target on T. Rowe Price Group from $109.00 to $112.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 9th. Deutsche Bank Aktiengesellschaft lifted their price target on T. Rowe Price Group from $112.00 to $113.00 and gave the stock a “hold” rating in a research report on Thursday, August 15th. Finally, Morgan Stanley lifted their price target on T. Rowe Price Group from $125.00 to $127.00 and gave the stock an “equal weight” rating in a research report on Friday, October 18th. Four analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. According to data from MarketBeat.com, T. Rowe Price Group has a consensus rating of “Hold” and an average target price of $113.00.

Insiders Place Their Bets

In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $102.83, for a total transaction of $1,230,772.27. Following the completion of the sale, the vice president now directly owns 123,624 shares in the company, valued at approximately $12,712,255.92. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $102.83, for a total transaction of $1,230,772.27. Following the transaction, the vice president now directly owns 123,624 shares in the company, valued at $12,712,255.92. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 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 represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is owned by company insiders.

T. Rowe Price Group Stock Down 0.6 %

Shares of T. Rowe Price Group stock opened at $111.33 on Friday. T. Rowe Price Group, Inc. has a twelve month low of $87.43 and a twelve month high of $122.27. The business has a 50-day moving average price of $108.02 and a 200 day moving average price of $111.90. The firm has a market cap of $24.86 billion, a PE ratio of 13.22, a P/E/G ratio of 1.86 and a beta of 1.41.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings results on Friday, July 26th. The asset manager reported $2.26 earnings per share for the quarter, missing the consensus estimate of $2.27 by ($0.01). T. Rowe Price Group had a net margin of 28.66% and a return on equity of 19.90%. The business had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.79 billion. During the same quarter in the prior year, the firm earned $2.02 EPS. T. Rowe Price Group’s revenue for the quarter was up 7.6% on a year-over-year basis. On average, sell-side analysts expect that T. Rowe Price Group, Inc. will post 9.09 EPS for the current year.

T. Rowe Price Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were paid a dividend of $1.24 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $4.96 annualized dividend and a yield of 4.46%. T. Rowe Price Group’s dividend payout ratio (DPR) is currently 58.91%.

About T. Rowe Price Group

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.