T. Rowe Price Group, Inc. $TROW Stock Position Reduced by ProShare Advisors LLC

ProShare Advisors LLC lessened its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 12.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,478,141 shares of the asset manager’s stock after selling 201,863 shares during the period. ProShare Advisors LLC owned 0.69% of T. Rowe Price Group worth $153,801,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in TROW. Wealthcare Capital Partners LLC raised its stake in shares of T. Rowe Price Group by 1.0% during the 2nd quarter. Wealthcare Capital Partners LLC now owns 9,565 shares of the asset manager’s stock worth $1,087,000 after buying an additional 93 shares during the last quarter. Kesler Norman & Wride LLC raised its holdings in T. Rowe Price Group by 0.6% during the 2nd quarter. Kesler Norman & Wride LLC now owns 15,914 shares of the asset manager’s stock worth $1,809,000 after buying an additional 96 shares during the period. MassMutual Private Wealth & Trust FSB increased its position in T. Rowe Price Group by 9.4% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,150 shares of the asset manager’s stock worth $131,000 after purchasing an additional 99 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its position in shares of T. Rowe Price Group by 0.4% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 25,062 shares of the asset manager’s stock worth $2,259,000 after purchasing an additional 100 shares during the last quarter. Finally, Concorde Asset Management LLC raised its position in T. Rowe Price Group by 3.9% in the first quarter. Concorde Asset Management LLC now owns 2,730 shares of the asset manager’s stock worth $246,000 after purchasing an additional 102 shares in the last quarter. Institutional investors and hedge funds own 73.39% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $109.00 target price on shares of T. Rowe Price Group in a research note on Monday, August 3rd. Weiss Ratings raised shares of T. Rowe Price Group from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, September 4th. Morgan Stanley boosted their price target on shares of T. Rowe Price Group from $110.00 to $112.00 and gave the stock an “equal weight” rating in a research note on Friday, October 23rd. Barclays dropped their price objective on shares of T. Rowe Price Group from $103.00 to $102.00 and set an “underweight” rating on the stock in a research note on Wednesday, October 14th. Finally, BMO Capital Markets dropped their target price on shares of T. Rowe Price Group from $120.00 to $110.00 and set a “market perform” rating for the company in a report on Tuesday, October 13th. One analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, T. Rowe Price Group presently has a consensus rating of “Reduce” and a consensus price target of $103.15.

More T. Rowe Price Group News

Here are the key news stories impacting T. Rowe Price Group this week:

• Positive Sentiment: Third-quarter adjusted earnings of $2.86 per share exceeded the $2.63 consensus estimate, while revenue reached approximately $2.0 billion versus expectations of $1.98 billion. Revenue increased 5.9% year over year, supported by higher advisory fees. T. Rowe Price Q3 Earnings and Revenues Surpass Estimates
• Positive Sentiment: Keefe, Bruyette & Woods reaffirmed its “market perform” rating but raised its price target to $113 from $112, implying approximately 8.8% potential upside based on the referenced price. Keefe, Bruyette & Woods Ratings
• Neutral Sentiment: T. Rowe Price is expanding its wealth-management operation with more than 50 new roles. The initiative could diversify growth and strengthen distribution over time, although added staffing costs may weigh on near-term efficiency. T. Rowe Price Adds Over 50 Wealth Management Roles
• Negative Sentiment: The earnings beat was offset by substantial client outflows and a decline in AUM during the quarter. Persistent redemptions are a key concern for an asset manager because they reduce fee-generating assets and could limit future revenue growth. T. Rowe Price Q3 Earnings, Revenue Beat Even as AUM Dips

Insider Buying and Selling at T. Rowe Price Group

In other news, VP Joshua Nelson sold 10,000 shares of the company’s stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $111.82, for a total value of $1,118,200.00. Following the completion of the sale, the vice president owned 71,328 shares in the company, valued at $7,975,896.96. This represents a 12.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.60% of the stock is owned by corporate insiders.

T. Rowe Price Group Price Performance

T. Rowe Price Group stock opened at $103.90 on Friday. The stock’s 50-day moving average is $105.65 and its 200-day moving average is $103.70. The company has a market cap of $22.16 billion, a price-to-earnings ratio of 10.51, a price-to-earnings-growth ratio of 3.04 and a beta of 1.45. T. Rowe Price Group, Inc. has a 12 month low of $85.22 and a 12 month high of $122.00.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings results on Thursday, October 29th. The asset manager reported $2.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.63 by $0.23. The company had revenue of $2 billion for the quarter, compared to analysts’ expectations of $1.98 billion. T. Rowe Price Group had a return on equity of 20.71% and a net margin of 28.40%. The firm’s revenue was up 5.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.81 earnings per share. Research analysts anticipate that T. Rowe Price Group, Inc. will post 10.16 EPS for the current year.

T. Rowe Price Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 15th were issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 5.0%. The ex-dividend date of this dividend was Tuesday, September 15th. T. Rowe Price Group’s payout ratio is presently 52.58%.

T. Rowe Price Group Profile

T. Rowe Price Group, Inc is a global investment management firm headquartered in Baltimore, Maryland. Founded in 1937 by Thomas Rowe Price Jr., the company provides investment strategies and advisory services to individual investors, retirement plans, financial intermediaries, institutions and other clients.

The company offers a range of actively managed and multi-asset investment products, including mutual funds, exchange-traded funds, separately managed accounts and other portfolio solutions.