Vest Financial LLC Trims Position in T. Rowe Price Group, Inc. $TROW

Vest Financial LLC lowered its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 17.3% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 509,784 shares of the asset manager’s stock after selling 106,567 shares during the period. Vest Financial LLC’s holdings in T. Rowe Price Group were worth $52,324,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. TD Waterhouse Canada Inc. lifted its position in T. Rowe Price Group by 66.7% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 250 shares of the asset manager’s stock worth $25,000 after acquiring an additional 100 shares during the period. Root Financial Partners LLC purchased a new position in T. Rowe Price Group in the 3rd quarter valued at $30,000. Vermillion & White Wealth Management Group LLC raised its position in T. Rowe Price Group by 120.0% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 319 shares of the asset manager’s stock worth $31,000 after buying an additional 174 shares during the last quarter. Salomon & Ludwin LLC boosted its holdings in shares of T. Rowe Price Group by 84.3% in the third quarter. Salomon & Ludwin LLC now owns 317 shares of the asset manager’s stock valued at $33,000 after acquiring an additional 145 shares in the last quarter. Finally, Atlantic Union Bankshares Corp acquired a new position in shares of T. Rowe Price Group during the second quarter worth about $35,000. Institutional investors and hedge funds own 73.39% of the company’s stock.

Insider Activity

In related news, VP Arif Husain sold 4,260 shares of T. Rowe Price Group stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $101.96, for a total transaction of $434,349.60. Following the sale, the vice president directly owned 47,102 shares in the company, valued at $4,802,519.92. The trade was a 8.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.60% of the company’s stock.

T. Rowe Price Group Price Performance

Shares of TROW stock opened at $104.95 on Wednesday. The firm has a market cap of $22.90 billion, a P/E ratio of 11.42, a P/E/G ratio of 2.57 and a beta of 1.52. The firm has a fifty day moving average of $103.76 and a two-hundred day moving average of $104.44. T. Rowe Price Group, Inc. has a 1-year low of $77.85 and a 1-year high of $118.32.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings data on Friday, October 31st. The asset manager reported $2.81 earnings per share for the quarter, beating the consensus estimate of $2.55 by $0.26. The firm had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.88 billion. T. Rowe Price Group had a return on equity of 19.95% and a net margin of 28.89%.T. Rowe Price Group’s quarterly revenue was up 6.0% on a year-over-year basis. During the same period in the previous year, the company earned $2.57 earnings per share. On average, sell-side analysts expect that T. Rowe Price Group, Inc. will post 9.29 EPS for the current year.

T. Rowe Price Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 30th. Stockholders of record on Monday, December 15th were paid a $1.27 dividend. The ex-dividend date of this dividend was Monday, December 15th. This represents a $5.08 annualized dividend and a dividend yield of 4.8%. T. Rowe Price Group’s dividend payout ratio is presently 55.34%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on TROW shares. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of T. Rowe Price Group from $113.00 to $106.00 and set a “hold” rating for the company in a research note on Wednesday, December 17th. BMO Capital Markets upped their target price on T. Rowe Price Group from $108.00 to $110.00 and gave the company a “market perform” rating in a report on Tuesday, January 13th. Weiss Ratings reissued a “hold (c+)” rating on shares of T. Rowe Price Group in a research note on Monday, December 29th. Jefferies Financial Group increased their price target on shares of T. Rowe Price Group from $104.00 to $106.00 and gave the company a “hold” rating in a research report on Tuesday, October 7th. Finally, TD Cowen reduced their target price on shares of T. Rowe Price Group from $112.00 to $109.00 and set a “hold” rating on the stock in a report on Wednesday, January 14th. Twelve equities research analysts have rated the stock with a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce” and an average target price of $107.31.

About T. Rowe Price Group

T. Rowe Price Group, Inc is a global investment management firm headquartered in Baltimore, Maryland, founded by Thomas Rowe Price Jr. in 1937. The company provides a broad range of investment products and services for individual investors, financial intermediaries, retirement plan sponsors and institutional clients. Its offerings are built around active investment management and in-house research across equity, fixed income and multi-asset strategies, reflecting a long history as a research-driven asset manager.

The firm’s product lineup includes mutual funds, separate accounts, collective investment trusts, target-date and target-risk funds, and managed account solutions, as well as services for defined contribution and defined benefit retirement plans.