Caprock Group LLC Sells 627 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Caprock Group LLC lowered its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 17.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,972 shares of the asset manager’s stock after selling 627 shares during the period. Caprock Group LLC’s holdings in T. Rowe Price Group were worth $324,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Pathstone Holdings LLC grew its holdings in T. Rowe Price Group by 3.4% during the third quarter. Pathstone Holdings LLC now owns 27,535 shares of the asset manager’s stock worth $2,999,000 after buying an additional 894 shares in the last quarter. Windle Wealth LLC grew its position in T. Rowe Price Group by 9.1% in the 3rd quarter. Windle Wealth LLC now owns 62,375 shares of the asset manager’s stock worth $6,795,000 after purchasing an additional 5,216 shares in the last quarter. Mendel Capital Management LLC grew its position in T. Rowe Price Group by 4.4% in the 3rd quarter. Mendel Capital Management LLC now owns 5,164 shares of the asset manager’s stock worth $562,000 after purchasing an additional 219 shares in the last quarter. LMR Partners LLP bought a new stake in T. Rowe Price Group in the 3rd quarter worth about $249,000. Finally, Quest Partners LLC grew its position in T. Rowe Price Group by 442,900.0% in the 3rd quarter. Quest Partners LLC now owns 4,430 shares of the asset manager’s stock worth $483,000 after purchasing an additional 4,429 shares in the last quarter. Institutional investors own 73.39% of the company’s stock.

Insider Activity at T. Rowe Price Group

In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 484 shares of the stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $104.73, for a total value of $50,689.32. Following the sale, the insider now directly owns 13,939 shares in the company, valued at $1,459,831.47. This represents a 3.36 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the 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 owns 123,624 shares in the company, valued at $12,712,255.92. This represents a 8.83 % 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.

T. Rowe Price Group Stock Up 1.4 %

T. Rowe Price Group stock opened at $119.84 on Friday. T. Rowe Price Group, Inc. has a twelve month low of $96.48 and a twelve month high of $122.27. The firm has a 50 day moving average price of $112.20 and a 200-day moving average price of $112.44. The company has a market capitalization of $26.62 billion, a P/E ratio of 13.11, a P/E/G ratio of 1.68 and a beta of 1.41.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings results on Friday, November 1st. The asset manager reported $2.57 EPS for the quarter, beating analysts’ consensus estimates of $2.36 by $0.21. The company had revenue of $1.79 billion for the quarter, compared to analysts’ expectations of $1.84 billion. T. Rowe Price Group had a net margin of 30.35% and a return on equity of 20.35%. T. Rowe Price Group’s revenue was up 6.9% compared to the same quarter last year. During the same period in the prior year, the company posted $2.17 EPS. Equities analysts expect that T. Rowe Price Group, Inc. will post 9.33 EPS for the current fiscal year.

T. Rowe Price Group Announces Dividend

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

Wall Street Analyst Weigh In

TROW has been the subject of a number of recent analyst reports. The Goldman Sachs Group reduced their price objective on shares of T. Rowe Price Group from $106.00 to $102.00 and set a “sell” rating for the company in a research report on Thursday, October 3rd. Evercore ISI upped their price objective on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the stock an “in-line” rating in a research report on Thursday, November 7th. Morgan Stanley upped their price objective on shares of T. Rowe Price Group from $127.00 to $129.00 and gave the stock an “equal weight” rating in a research report on Monday, November 4th. 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 research report on Monday, November 4th. Finally, TD Cowen reduced their price objective on shares of T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating for the company in a research report on Monday, November 4th. Four research analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $115.55.

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.