Nationwide Fund Advisors Sells 39,458 Shares of T. Rowe Price Group, Inc. (TROW)
Nationwide Fund Advisors lessened its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 27.8% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 102,534 shares of the asset manager’s stock after selling 39,458 shares during the quarter. Nationwide Fund Advisors’ holdings in T. Rowe Price Group were worth $9,295,000 as of its most recent SEC filing.
Several other institutional investors have also made changes to their positions in the company. Reliance Trust Co. of Delaware bought a new stake in T. Rowe Price Group during the third quarter worth about $304,000. Evermay Wealth Management LLC bought a new position in shares of T. Rowe Price Group in the third quarter worth about $207,000. Strs Ohio lifted its holdings in shares of T. Rowe Price Group by 94.5% in the third quarter. Strs Ohio now owns 6,181 shares of the asset manager’s stock worth $560,000 after acquiring an additional 3,003 shares during the last quarter. Alpha Cubed Investments LLC bought a new position in shares of T. Rowe Price Group in the third quarter worth about $256,000. Finally, APG Asset Management N.V. lifted its holdings in shares of T. Rowe Price Group by 3.5% in the third quarter. APG Asset Management N.V. now owns 329,885 shares of the asset manager’s stock worth $29,904,000 after acquiring an additional 11,100 shares during the last quarter. 72.21% of the stock is owned by institutional investors.
A number of research firms have recently commented on TROW. Zacks Investment Research cut shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Wednesday. UBS increased their target price on shares of T. Rowe Price Group from $69.00 to $72.00 and gave the stock a “sell” rating in a report on Friday, October 27th. Barclays increased their target price on shares of T. Rowe Price Group from $79.00 to $84.00 and gave the stock an “underweight” rating in a report on Friday, October 27th. Citigroup increased their target price on shares of T. Rowe Price Group from $94.00 to $95.00 and gave the stock a “neutral” rating in a report on Friday, October 27th. Finally, Jefferies Group reissued a “buy” rating and issued a $104.00 target price (up previously from $96.00) on shares of T. Rowe Price Group in a report on Tuesday, October 10th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $89.67.
Shares of T. Rowe Price Group, Inc. (NASDAQ TROW) opened at $102.74 on Friday. The firm has a market cap of $24,664.73, a P/E ratio of 19.88, a price-to-earnings-growth ratio of 1.87 and a beta of 1.32. T. Rowe Price Group, Inc. has a 52-week low of $65.33 and a 52-week high of $104.40.
T. Rowe Price Group (NASDAQ:TROW) last released its earnings results on Thursday, October 26th. The asset manager reported $1.56 earnings per share for the quarter, beating analysts’ consensus estimates of $1.36 by $0.20. The business had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.22 billion. T. Rowe Price Group had a net margin of 33.10% and a return on equity of 24.76%. The company’s revenue for the quarter was up 11.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.17 EPS. equities research analysts anticipate that T. Rowe Price Group, Inc. will post 5.29 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 28th. Shareholders of record on Thursday, December 14th will be given a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date is Wednesday, December 13th. T. Rowe Price Group’s dividend payout ratio is presently 37.38%.
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T. Rowe Price Group Profile
T. Rowe Price Group, Inc is a financial services holding company. The Company provides global investment management services through its subsidiaries to investors across the world. The Company provides an array of Company sponsored the United States mutual funds, other sponsored pooled investment vehicles, sub advisory services, separate account management, recordkeeping, and related services to individuals, advisors, institutions, financial intermediaries and retirement plan sponsors.
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