Investment Management of Virginia LLC cut its stake in T. Rowe Price Group Inc. (NASDAQ:TROW) by 4.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 89,608 shares of the company’s stock after selling 4,258 shares during the period. T. Rowe Price Group comprises approximately 1.5% of Investment Management of Virginia LLC’s portfolio, making the stock its 16th largest position. Investment Management of Virginia LLC’s holdings in T. Rowe Price Group were worth $5,959,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in TROW. Toth Financial Advisory Corp raised its stake in T. Rowe Price Group by 9.1% in the third quarter. Toth Financial Advisory Corp now owns 13,411 shares of the company’s stock valued at $892,000 after buying an additional 1,123 shares in the last quarter. Prospera Financial Services Inc acquired a new stake in T. Rowe Price Group during the third quarter valued at approximately $200,000. Keystone Financial Planning Inc. raised its stake in T. Rowe Price Group by 231.7% in the third quarter. Keystone Financial Planning Inc. now owns 50,044 shares of the company’s stock valued at $3,328,000 after buying an additional 34,955 shares in the last quarter. Nisa Investment Advisors LLC raised its stake in T. Rowe Price Group by 12.4% in the third quarter. Nisa Investment Advisors LLC now owns 94,160 shares of the company’s stock valued at $6,262,000 after buying an additional 10,403 shares in the last quarter. Finally, Capstone Asset Management Co. raised its stake in T. Rowe Price Group by 2.3% in the third quarter. Capstone Asset Management Co. now owns 28,014 shares of the company’s stock valued at $1,863,000 after buying an additional 620 shares in the last quarter. Institutional investors and hedge funds own 69.82% of the company’s stock.

Institutional Ownership by Quarter for T. Rowe Price Group (NASDAQ:TROW)

Shares of T. Rowe Price Group Inc. (NASDAQ:TROW) traded down 1.72% during mid-day trading on Monday, reaching $73.15. 1,292,601 shares of the company’s stock traded hands. T. Rowe Price Group Inc. has a 1-year low of $62.97 and a 1-year high of $79.00. The company has a market capitalization of $17.81 billion, a P/E ratio of 16.50 and a beta of 1.21. The firm has a 50-day moving average price of $67.72 and a 200-day moving average price of $70.23.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings results on Thursday, October 27th. The company reported $1.17 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.18 by $0.01. The company earned $1.10 billion during the quarter, compared to analysts’ expectations of $1.08 billion. T. Rowe Price Group had a return on equity of 24.78% and a net margin of 26.71%. The company’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.06 EPS. On average, equities research analysts forecast that T. Rowe Price Group Inc. will post $4.38 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 29th. Investors of record on Thursday, December 15th will be paid a $0.54 dividend. The ex-dividend date of this dividend is Tuesday, December 13th. This represents a $2.16 dividend on an annualized basis and a yield of 2.90%. T. Rowe Price Group’s dividend payout ratio is currently 49.54%.

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Several equities research analysts recently commented on the stock. UBS AG upgraded shares of T. Rowe Price Group from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $66.00 to $82.00 in a research report on Thursday, November 10th. Zacks Investment Research lowered shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Tuesday, November 1st. Citigroup Inc. restated a “neutral” rating on shares of T. Rowe Price Group in a report on Sunday, October 30th. Keefe, Bruyette & Woods set a $72.00 target price on shares of T. Rowe Price Group and gave the company a “hold” rating in a report on Saturday, October 15th. Finally, Barclays PLC reduced their target price on shares of T. Rowe Price Group from $72.00 to $68.00 and set an “equal weight” rating on the stock in a report on Thursday, October 13th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and five have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $75.00.

T. Rowe Price Group Company Profile

T. Rowe Price Group, Inc is a financial services holding company. The Company provides global investment management services to individual and institutional investors in the sponsored T. Rowe Price mutual funds distributed in the United States and other investment portfolios. It operates through investment advisory business segment.

5 Day Chart for NASDAQ:TROW

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