Raymond James Trust N.A. Cuts Stock Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Raymond James Trust N.A. lowered its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 4.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,219 shares of the asset manager’s stock after selling 221 shares during the period. Raymond James Trust N.A.’s holdings in T. Rowe Price Group were worth $569,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. International Assets Investment Management LLC grew its position in T. Rowe Price Group by 7,992.0% in the 3rd quarter. International Assets Investment Management LLC now owns 1,067,655 shares of the asset manager’s stock worth $116,300,000 after purchasing an additional 1,054,461 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of T. Rowe Price Group by 3.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,840,807 shares of the asset manager’s stock worth $745,169,000 after buying an additional 231,286 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of T. Rowe Price Group by 15.8% in the second quarter. Dimensional Fund Advisors LP now owns 1,611,307 shares of the asset manager’s stock valued at $185,810,000 after acquiring an additional 220,105 shares in the last quarter. AQR Capital Management LLC increased its position in shares of T. Rowe Price Group by 77.2% during the second quarter. AQR Capital Management LLC now owns 451,237 shares of the asset manager’s stock valued at $52,032,000 after acquiring an additional 196,565 shares during the last quarter. Finally, Burney Co. bought a new stake in T. Rowe Price Group during the second quarter worth $20,938,000. Hedge funds and other institutional investors own 73.39% of the company’s stock.

Insider Transactions at T. Rowe Price Group

In related news, insider Jessica M. Hiebler sold 484 shares of the company’s 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 transaction, the insider now directly owns 13,939 shares in the company, valued at approximately $1,459,831.47. This represents a 3.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of T. Rowe Price Group stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $102.83, for a total transaction of $1,230,772.27. Following the sale, the vice president now 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 ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

T. Rowe Price Group Stock Performance

Shares of TROW opened at $122.97 on Tuesday. T. Rowe Price Group, Inc. has a 52-week low of $96.48 and a 52-week high of $123.29. The stock’s 50-day simple moving average is $112.54 and its 200 day simple moving average is $112.52. The stock has a market capitalization of $27.32 billion, a price-to-earnings ratio of 13.45, a price-to-earnings-growth ratio of 1.70 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 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 for the quarter, compared to the consensus estimate of $1.84 billion. T. Rowe Price Group had a net margin of 30.35% and a return on equity of 20.35%. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period in the prior year, the firm posted $2.17 earnings per share. On average, research analysts forecast that T. Rowe Price Group, Inc. will post 9.33 earnings per share for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be given a dividend of $1.24 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 4.03%. T. Rowe Price Group’s dividend payout ratio (DPR) is currently 54.27%.

Wall Street Analysts Forecast Growth

TROW has been the subject of a number of recent analyst reports. Morgan Stanley upped their price objective on T. Rowe Price Group from $127.00 to $129.00 and gave the company an “equal weight” rating in a research note on Monday, November 4th. Barclays increased their price target on shares of T. Rowe Price Group from $101.00 to $110.00 and gave the company an “underweight” rating in a research report on Monday, November 4th. The Goldman Sachs Group lowered their price objective on shares of T. Rowe Price Group from $106.00 to $102.00 and set a “sell” rating on the stock in a research report on Thursday, October 3rd. Evercore ISI increased their target price on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the company an “in-line” rating in a research report on Thursday, November 7th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of T. Rowe Price Group from $115.00 to $120.00 and gave the stock a “hold” rating in a report on Monday, November 11th. Four analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. According to data from MarketBeat.com, T. Rowe Price Group presently has a consensus rating of “Hold” and a consensus target price of $115.55.

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.