T. Rowe Price Group, Inc. $TROW Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. lowered its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 0.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 26,393,723 shares of the asset manager’s stock after selling 22,995 shares during the period. Vanguard Group Inc. owned approximately 12.09% of T. Rowe Price Group worth $2,709,052,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of TROW. Fidelis Capital Partners LLC acquired a new position in shares of T. Rowe Price Group during the 3rd quarter worth about $540,000. Candriam S.C.A. increased its stake in T. Rowe Price Group by 20.4% during the 2nd quarter. Candriam S.C.A. now owns 30,931 shares of the asset manager’s stock worth $2,985,000 after buying an additional 5,236 shares in the last quarter. Greenspring Advisors LLC acquired a new position in shares of T. Rowe Price Group during the third quarter valued at approximately $1,583,000. First Citizens Bank & Trust Co. lifted its position in shares of T. Rowe Price Group by 141.9% in the third quarter. First Citizens Bank & Trust Co. now owns 175,885 shares of the asset manager’s stock valued at $18,053,000 after acquiring an additional 103,174 shares in the last quarter. Finally, Allen Wealth Management LLC lifted its position in shares of T. Rowe Price Group by 459.3% in the third quarter. Allen Wealth Management LLC now owns 13,855 shares of the asset manager’s stock valued at $1,422,000 after acquiring an additional 11,378 shares in the last quarter. 73.39% of the stock is owned by hedge funds and other institutional investors.

T. Rowe Price Group Stock Performance

TROW opened at $94.93 on Thursday. The stock has a market capitalization of $20.70 billion, a PE ratio of 10.26, a P/E/G ratio of 4.84 and a beta of 1.53. T. Rowe Price Group, Inc. has a one year low of $77.85 and a one year high of $118.22. The business’s 50 day moving average price is $102.78 and its 200 day moving average price is $103.84.

T. Rowe Price Group (NASDAQ:TROW) last posted its earnings results on Wednesday, February 4th. The asset manager reported $2.44 EPS for the quarter, missing analysts’ consensus estimates of $2.47 by ($0.03). T. Rowe Price Group had a net margin of 28.53% and a return on equity of 20.29%. The business had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $1.92 billion. During the same quarter in the prior year, the firm earned $2.12 EPS. T. Rowe Price Group’s revenue for the quarter was up 6.0% compared to the same quarter last year. As a group, equities research analysts forecast that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current fiscal year.

T. Rowe Price Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 30th. Shareholders of record on Monday, March 16th will be given a $1.30 dividend. The ex-dividend date of this dividend is Monday, March 16th. This is an increase from T. Rowe Price Group’s previous quarterly dividend of $1.27. This represents a $5.20 dividend on an annualized basis and a yield of 5.5%. T. Rowe Price Group’s dividend payout ratio is currently 54.92%.

Analyst Ratings Changes

Several analysts recently commented on the company. Zacks Research cut T. Rowe Price Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 9th. TD Cowen dropped their target price on shares of T. Rowe Price Group from $109.00 to $97.00 and set a “hold” rating for the company in a report on Thursday, February 5th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of T. Rowe Price Group from $106.00 to $100.00 and set a “hold” rating for the company in a research report on Thursday, February 5th. BMO Capital Markets lowered their price target on shares of T. Rowe Price Group from $110.00 to $104.00 and set a “market perform” rating on the stock in a research report on Thursday, February 12th. Finally, Bank of America increased their price objective on shares of T. Rowe Price Group from $85.00 to $86.00 in a report on Wednesday, January 14th. Twelve research analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus target price of $102.23.

Insiders Place Their Bets

In other T. Rowe Price Group news, VP Arif Husain sold 4,260 shares of the 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 completion of the transaction, the vice president owned 47,102 shares of the company’s stock, valued at $4,802,519.92. This trade represents a 8.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 2.00% of the stock is currently owned by company insiders.

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.