T. Rowe Price Group, Inc. $TROW Stake Lessened by Mattern Capital Management LLC

Mattern Capital Management LLC decreased its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 97.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,976 shares of the asset manager’s stock after selling 81,091 shares during the quarter. Mattern Capital Management LLC’s holdings in T. Rowe Price Group were worth $203,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. First Trust Advisors LP grew its stake in T. Rowe Price Group by 137.7% during the 2nd quarter. First Trust Advisors LP now owns 3,441,458 shares of the asset manager’s stock valued at $332,101,000 after acquiring an additional 1,993,920 shares in the last quarter. Norges Bank acquired a new stake in shares of T. Rowe Price Group during the second quarter worth approximately $82,756,000. ARGA Investment Management LP boosted its holdings in shares of T. Rowe Price Group by 3,807.3% during the second quarter. ARGA Investment Management LP now owns 477,161 shares of the asset manager’s stock worth $46,046,000 after purchasing an additional 464,949 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in T. Rowe Price Group during the second quarter valued at approximately $37,722,000. Finally, ProShare Advisors LLC increased its stake in T. Rowe Price Group by 21.7% in the 2nd quarter. ProShare Advisors LLC now owns 1,887,935 shares of the asset manager’s stock valued at $182,186,000 after buying an additional 337,112 shares during the period. 73.39% of the stock is owned by institutional investors and hedge funds.

T. Rowe Price Group Price Performance

Shares of NASDAQ:TROW opened at $104.63 on Friday. The stock has a market capitalization of $22.83 billion, a P/E ratio of 11.40, a P/E/G ratio of 2.60 and a beta of 1.53. The business has a 50-day moving average of $102.90 and a two-hundred day moving average of $103.43. T. Rowe Price Group, Inc. has a fifty-two week low of $77.85 and a fifty-two week high of $118.32.

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

T. Rowe Price Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 30th. Stockholders of record on Monday, December 15th were given a $1.27 dividend. The ex-dividend date of this dividend was Monday, December 15th. This represents a $5.08 dividend on an annualized basis and a dividend yield of 4.9%. T. Rowe Price Group’s dividend payout ratio (DPR) is currently 55.34%.

Insider Buying and Selling at T. Rowe Price Group

In related news, VP Arif Husain sold 4,260 shares of the company’s stock in a transaction on 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 sale, the vice president directly owned 47,102 shares of the company’s stock, valued at approximately $4,802,519.92. This represents a 8.29% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.00% of the company’s stock.

Analysts Set New Price Targets

TROW has been the subject of a number of research reports. BMO Capital Markets assumed coverage on shares of T. Rowe Price Group in a research note on Friday, October 3rd. They set a “market perform” rating and a $108.00 target price for 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 upped their target price on T. Rowe Price Group from $108.00 to $112.00 and gave the stock a “hold” rating in a research report on Monday, November 3rd. The Goldman Sachs Group cut their price target on T. Rowe Price Group from $98.00 to $93.00 and set a “sell” rating for the company in a research note on Tuesday, November 25th. Finally, Barclays boosted their price target on T. Rowe Price Group from $101.00 to $102.00 and gave the company an “underweight” rating in a research note on Friday, December 12th. Twelve analysts have rated the stock with a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat, T. Rowe Price Group presently has a consensus rating of “Reduce” and a consensus target price of $108.31.

T. Rowe Price Group Company Profile

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.