Natixis Advisors LLC Sells 33,689 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Natixis Advisors LLC lessened its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 41.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 46,875 shares of the asset manager’s stock after selling 33,689 shares during the quarter. Natixis Advisors LLC’s holdings in T. Rowe Price Group were worth $5,106,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Iron Horse Wealth Management LLC raised its stake in T. Rowe Price Group by 90.9% during the 3rd quarter. Iron Horse Wealth Management LLC now owns 231 shares of the asset manager’s stock valued at $25,000 after purchasing an additional 110 shares during the period. Lynx Investment Advisory purchased a new position in T. Rowe Price Group during the 2nd quarter valued at approximately $29,000. Hexagon Capital Partners LLC grew its holdings in T. Rowe Price Group by 54.7% during the 3rd quarter. Hexagon Capital Partners LLC now owns 294 shares of the asset manager’s stock valued at $32,000 after buying an additional 104 shares in the last quarter. Family Firm Inc. purchased a new position in T. Rowe Price Group during the 2nd quarter valued at approximately $36,000. Finally, Versant Capital Management Inc grew its holdings in T. Rowe Price Group by 660.5% during the 2nd quarter. Versant Capital Management Inc now owns 327 shares of the asset manager’s stock valued at $38,000 after buying an additional 284 shares in the last quarter. Institutional investors own 73.39% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. The Goldman Sachs Group cut their price target on T. Rowe Price Group from $106.00 to $102.00 and set a “sell” rating for the company in a report on Thursday, October 3rd. Wells Fargo & Company raised their price target on T. Rowe Price Group from $109.00 to $112.00 and gave the company an “equal weight” rating in a report on Wednesday, October 9th. Barclays raised their price target on T. Rowe Price Group from $101.00 to $110.00 and gave the company an “underweight” rating in a report on Monday, November 4th. Keefe, Bruyette & Woods restated a “market perform” rating and set a $120.00 price target (down previously from $121.00) on shares of T. Rowe Price Group in a report on Monday, July 29th. Finally, Morgan Stanley lifted their target price on T. Rowe Price Group from $127.00 to $129.00 and gave the stock an “equal weight” rating in a report on Monday, November 4th. Four investment analysts have rated the stock with a sell rating and eight have given a hold rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $115.55.

T. Rowe Price Group Stock Performance

Shares of TROW stock opened at $119.84 on Friday. T. Rowe Price Group, Inc. has a 52-week low of $96.48 and a 52-week high of $122.27. The firm has a market capitalization of $26.62 billion, a P/E ratio of 13.11, a P/E/G ratio of 1.67 and a beta of 1.41. The stock has a 50 day moving average price of $112.20 and a 200 day moving average price of $112.43.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings results on Friday, November 1st. The asset manager reported $2.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.36 by $0.21. The firm had revenue of $1.79 billion during the quarter, compared to analyst estimates of $1.84 billion. T. Rowe Price Group had a return on equity of 20.35% and a net margin of 30.35%. T. Rowe Price Group’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same period last year, the company earned $2.17 EPS. As a group, sell-side analysts forecast that T. Rowe Price Group, Inc. will post 9.33 EPS for the current year.

T. Rowe Price Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be given a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a yield of 4.14%. The ex-dividend date of this dividend is Friday, December 13th. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 54.27%.

Insider Buying and Selling at T. Rowe Price Group

In other news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the business’s stock in a transaction on 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 completion of the transaction, the vice president now directly owns 123,624 shares of the company’s stock, valued at approximately $12,712,255.92. The trade was a 8.83 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jessica M. Hiebler sold 484 shares of the business’s stock in a transaction 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 completion of the transaction, the insider now directly owns 13,939 shares of the company’s stock, valued at approximately $1,459,831.47. The trade was a 3.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by corporate insiders.

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.