T. Rowe Price Group, Inc. (NASDAQ:TROW) Position Cut by Stephens Inc. AR

Stephens Inc. AR trimmed its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 12.2% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 4,495 shares of the asset manager’s stock after selling 623 shares during the quarter. Stephens Inc. AR’s holdings in T. Rowe Price Group were worth $490,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in TROW. Norden Group LLC bought a new stake in T. Rowe Price Group in the first quarter valued at $420,000. Texas Permanent School Fund Corp lifted its stake in T. Rowe Price Group by 0.5% in the first quarter. Texas Permanent School Fund Corp now owns 51,560 shares of the asset manager’s stock valued at $6,286,000 after buying an additional 266 shares during the last quarter. Empirical Finance LLC lifted its stake in T. Rowe Price Group by 3.5% in the first quarter. Empirical Finance LLC now owns 8,176 shares of the asset manager’s stock valued at $997,000 after buying an additional 274 shares during the last quarter. Envestnet Portfolio Solutions Inc. raised its stake in shares of T. Rowe Price Group by 52.4% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 65,534 shares of the asset manager’s stock valued at $7,990,000 after purchasing an additional 22,533 shares in the last quarter. Finally, Empowered Funds LLC lifted its holdings in T. Rowe Price Group by 62.4% in the first quarter. Empowered Funds LLC now owns 25,779 shares of the asset manager’s stock worth $3,143,000 after purchasing an additional 9,910 shares during the period. 73.39% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on TROW shares. Barclays upped their price objective on shares of T. Rowe Price Group from $101.00 to $110.00 and gave the stock an “underweight” rating in a report on Monday. Wells Fargo & Company upped their price objective on shares of T. Rowe Price Group from $109.00 to $112.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 9th. JPMorgan Chase & Co. reduced their price objective on shares of T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating for the company in a report on Monday. Deutsche Bank Aktiengesellschaft upped their price objective on shares of T. Rowe Price Group from $113.00 to $115.00 and gave the stock a “hold” rating in a report on Monday. Finally, Evercore ISI upped their price objective on shares of T. Rowe Price Group from $108.00 to $109.00 and gave the stock an “in-line” rating in a report on Friday, October 4th. Four analysts have rated the stock with a sell rating and eight have given a hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $114.73.

Insiders Place Their Bets

In other news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the company’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $102.83, for a total value of $1,230,772.27. Following the transaction, the vice president now owns 123,624 shares in the company, valued at $12,712,255.92. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the company’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $102.83, for a total value of $1,230,772.27. Following the transaction, the vice president now owns 123,624 shares in the company, valued at $12,712,255.92. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jessica M. Hiebler sold 484 shares of the company’s 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 transaction, the insider now owns 13,939 shares in the company, valued at $1,459,831.47. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

T. Rowe Price Group Trading Up 5.9 %

NASDAQ TROW opened at $121.31 on Thursday. The stock’s 50-day moving average price is $108.79 and its two-hundred day moving average price is $111.82. The company has a market cap of $26.95 billion, a PE ratio of 13.27, a PEG ratio of 1.73 and a beta of 1.41. T. Rowe Price Group, Inc. has a 1 year low of $90.02 and a 1 year high of $122.27.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings data on Friday, November 1st. The asset manager reported $2.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.21. The firm had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.84 billion. T. Rowe Price Group had a return on equity of 20.35% and a net margin of 30.35%. The business’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.17 EPS. Research analysts forecast that T. Rowe Price Group, Inc. will post 9.27 EPS for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be issued a dividend of $1.24 per share. The ex-dividend date is Friday, December 13th. This represents a $4.96 annualized dividend and a yield of 4.09%. T. Rowe Price Group’s payout ratio is presently 54.27%.

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.