SG Americas Securities LLC Sells 72,034 Shares of T. Rowe Price Group, Inc. $TROW

SG Americas Securities LLC trimmed its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 83.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,746 shares of the asset manager’s stock after selling 72,034 shares during the period. SG Americas Securities LLC’s holdings in T. Rowe Price Group were worth $1,514,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. TD Waterhouse Canada Inc. boosted 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 valued at $25,000 after acquiring an additional 100 shares in the last quarter. Vermillion & White Wealth Management Group LLC grew 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 purchasing an additional 174 shares during the last quarter. Salomon & Ludwin LLC increased its position in shares of T. Rowe Price Group by 84.3% in the 3rd quarter. Salomon & Ludwin LLC now owns 317 shares of the asset manager’s stock valued at $33,000 after acquiring an additional 145 shares during the period. Atlantic Union Bankshares Corp acquired a new position in shares of T. Rowe Price Group in the second quarter valued at about $35,000. Finally, Curio Wealth LLC lifted its stake in T. Rowe Price Group by 20,700.0% during the 2nd quarter. Curio Wealth LLC now owns 416 shares of the asset manager’s stock valued at $40,000 after acquiring an additional 414 shares during the period. Hedge funds and other institutional investors own 73.39% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on TROW shares. Deutsche Bank Aktiengesellschaft reduced their price target on T. Rowe Price Group from $113.00 to $106.00 and set a “hold” rating for the company in a research report on Wednesday, December 17th. BMO Capital Markets raised their price target on shares of T. Rowe Price Group from $108.00 to $110.00 and gave the company a “market perform” rating in a research note on Tuesday. Keefe, Bruyette & Woods dropped their target price on shares of T. Rowe Price Group from $117.00 to $115.00 and set a “market perform” rating for the company in a report on Tuesday, December 16th. The Goldman Sachs Group lowered their price objective on T. Rowe Price Group from $97.00 to $95.00 and set a “sell” rating on the stock in a research note on Wednesday. Finally, JPMorgan Chase & Co. raised their price target on shares of T. Rowe Price Group from $109.00 to $111.00 and gave the stock an “underweight” rating in a report on Monday, November 3rd. Twelve research analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Reduce” and a consensus target price of $107.54.

Insider Activity at T. Rowe Price Group

In other T. Rowe Price Group news, VP Arif Husain sold 4,260 shares of the firm’s stock in a transaction on Wednesday, December 10th. The stock was sold at an average price of $101.96, for a total value of $434,349.60. Following the completion of the sale, the vice president owned 47,102 shares of the company’s stock, valued at approximately $4,802,519.92. This trade represents a 8.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.00% of the stock is owned by corporate insiders.

T. Rowe Price Group Price Performance

NASDAQ:TROW opened at $107.32 on Friday. T. Rowe Price Group, Inc. has a 12 month low of $77.85 and a 12 month high of $118.32. The firm has a market capitalization of $23.42 billion, a PE ratio of 11.69, a price-to-earnings-growth ratio of 2.69 and a beta of 1.52. The business’s fifty day moving average price is $103.61 and its 200 day moving average price is $104.23.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings results on Friday, October 31st. The asset manager reported $2.81 EPS for the quarter, topping the consensus estimate of $2.55 by $0.26. T. Rowe Price Group had a net margin of 28.89% and a return on equity of 19.95%. The firm had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.88 billion. During the same period last year, the business earned $2.57 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 analysts anticipate that T. Rowe Price Group, Inc. will post 9.29 EPS for the current year.

T. Rowe Price Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 30th. Investors of record on Monday, December 15th were issued a dividend of $1.27 per share. This represents a $5.08 annualized dividend and a yield of 4.7%. The ex-dividend date of this dividend was Monday, December 15th. T. Rowe Price Group’s dividend payout ratio is currently 55.34%.

Key T. Rowe Price Group News

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

• Positive Sentiment: Evercore raised its price target to $116 (from $115), signaling upside potential and supporting the stock’s gains today. Evercore Raises PT to $116
• Positive Sentiment: BMO lifted its price target to $110 and kept a market-perform rating, a modest endorsement that helps support the stock. BMO Raises PT to $110
• Positive Sentiment: Zacks highlights T. Rowe’s history of earnings beats and suggests the company has the setup to beat again, which supports investor sentiment heading into future reports. Zacks: Earnings Beat Setup
• Positive Sentiment: Coverage pieces (Zacks/MSN) promoting T. Rowe as a strong growth stock add to bullish retail/institutional interest. MSN: Growth Thesis
• Neutral Sentiment: TD Cowen trimmed its target slightly to $109 (from $112) and kept a hold rating; this is largely neutral for immediate price direction given the small implied upside. TD Cowen Lowers PT to $109
• Negative Sentiment: Goldman Sachs cut its price target to $95 and maintained a “sell” rating — the most bearish call among recent notes and a key reason some selling pressure is present. Goldman Lowers PT to $95, Sells
• Negative Sentiment: Barclays trimmed its target to $101 and kept an underweight call, and Bank of America’s $86 target (raised marginally from $85) still implies substantial downside — both add downward pressure versus the current price. Barclays/BoA Targets

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.