Seizert Capital Partners LLC Has $8.95 Million Stake in T. Rowe Price Group, Inc. $TROW

Seizert Capital Partners LLC trimmed its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 30.5% in the third quarter, Holdings Channel reports. The fund owned 87,194 shares of the asset manager’s stock after selling 38,255 shares during the period. Seizert Capital Partners LLC’s holdings in T. Rowe Price Group were worth $8,950,000 at the end of the most recent quarter.

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

T. Rowe Price Group Stock Performance

Shares of TROW opened at $104.50 on Tuesday. The business’s 50 day moving average price is $103.76 and its two-hundred day moving average price is $104.41. The firm has a market cap of $22.80 billion, a PE ratio of 11.41, a price-to-earnings-growth ratio of 2.57 and a beta of 1.52. T. Rowe Price Group, Inc. has a 52-week low of $77.85 and a 52-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 EPS for the quarter, topping 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 firm had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.88 billion. During the same period in the previous year, the company posted $2.57 EPS. The company’s revenue for the quarter was up 6.0% on a year-over-year basis. Research analysts predict that T. Rowe Price Group, Inc. will post 9.29 EPS for the current fiscal year.

T. Rowe Price Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 30th. Shareholders 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 annualized dividend and a yield of 4.9%. T. Rowe Price Group’s payout ratio is currently 55.34%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. The Goldman Sachs Group cut their price objective on shares of T. Rowe Price Group from $97.00 to $95.00 and set a “sell” rating for the company in a research report on Wednesday, January 14th. Deutsche Bank Aktiengesellschaft reduced their price target on T. Rowe Price Group from $113.00 to $106.00 and set a “hold” rating on the stock in a research report on Wednesday, December 17th. Barclays reduced their target price on T. Rowe Price Group from $102.00 to $101.00 and set an “underweight” rating on the stock in a report on Thursday, January 15th. Keefe, Bruyette & Woods lowered their price target on 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. Finally, Citigroup upped their price target on shares of T. Rowe Price Group from $105.00 to $107.00 in a research report on Monday, November 3rd. Twelve analysts have rated the stock with a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat, T. Rowe Price Group has an average rating of “Reduce” and a consensus target price of $107.31.

Insider Transactions at T. Rowe Price Group

In other T. Rowe Price Group news, VP Arif Husain sold 4,260 shares of the company’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 transaction, the vice president owned 47,102 shares in the company, valued at $4,802,519.92. This represents a 8.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.60% of the stock is owned by company insiders.

T. Rowe Price Group 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.