Lowe Brockenbrough & Co. Inc. Sells 735 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Lowe Brockenbrough & Co. Inc. decreased its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 5.1% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 13,578 shares of the asset manager’s stock after selling 735 shares during the quarter. Lowe Brockenbrough & Co. Inc.’s holdings in T. Rowe Price Group were worth $1,479,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. International Assets Investment Management LLC raised its holdings in shares of T. Rowe Price Group by 7,992.0% in the third quarter. International Assets Investment Management LLC now owns 1,067,655 shares of the asset manager’s stock valued at $116,300,000 after purchasing an additional 1,054,461 shares during the last quarter. Dimensional Fund Advisors LP grew its position in T. Rowe Price Group by 15.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,611,307 shares of the asset manager’s stock worth $185,810,000 after purchasing an additional 220,105 shares in the last quarter. AQR Capital Management LLC increased its stake in T. Rowe Price Group by 77.2% in the 2nd quarter. AQR Capital Management LLC now owns 451,237 shares of the asset manager’s stock valued at $52,032,000 after buying an additional 196,565 shares during the last quarter. Burney Co. bought a new position in shares of T. Rowe Price Group during the 2nd quarter worth approximately $20,938,000. Finally, Canada Pension Plan Investment Board boosted its stake in shares of T. Rowe Price Group by 1,328.0% in the 2nd quarter. Canada Pension Plan Investment Board now owns 162,010 shares of the asset manager’s stock worth $18,681,000 after buying an additional 150,665 shares during the last quarter. Institutional investors and hedge funds own 73.39% of the company’s stock.

Analysts Set New Price Targets

TROW has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. lifted their price target on T. Rowe Price Group from $102.00 to $107.00 and gave the stock an “underweight” rating in a report on Tuesday, July 23rd. Deutsche Bank Aktiengesellschaft boosted their price target on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the stock a “hold” rating in a report on Thursday, August 15th. Keefe, Bruyette & Woods restated a “market perform” rating and set a $120.00 price objective (down previously from $121.00) on shares of T. Rowe Price Group in a report on Monday, July 29th. StockNews.com cut shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Finally, Barclays raised their price target on shares of T. Rowe Price Group from $99.00 to $101.00 and gave the stock an “underweight” rating in a research note on Monday, October 14th. Four equities research analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $113.00.

T. Rowe Price Group Stock Up 2.0 %

TROW stock opened at $112.06 on Friday. The stock has a 50-day simple moving average of $108.32 and a two-hundred day simple moving average of $111.69. T. Rowe Price Group, Inc. has a twelve month low of $90.02 and a twelve month high of $122.27. The firm has a market capitalization of $24.94 billion, a PE ratio of 13.23, a PEG ratio of 1.71 and a beta of 1.41.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings data on Friday, November 1st. The asset manager reported $2.57 EPS for the quarter, beating the consensus estimate of $2.36 by $0.21. T. Rowe Price Group had a net margin of 28.66% and a return on equity of 19.90%. The company had revenue of $1.79 billion during the quarter, compared to analysts’ expectations of $1.84 billion. During the same quarter in the previous year, the company earned $2.17 earnings per share. T. Rowe Price Group’s revenue for the quarter was up 6.9% on a year-over-year basis. On average, equities research analysts anticipate that T. Rowe Price Group, Inc. will post 9.16 EPS for the current fiscal year.

T. Rowe Price Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be issued a $1.24 dividend. This represents a $4.96 annualized dividend and a dividend yield of 4.43%. T. Rowe Price Group’s payout ratio is currently 58.56%.

Insider Buying and Selling

In related news, insider Jessica M. Hiebler sold 484 shares of the business’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $104.73, for a total transaction of $50,689.32. Following the completion of the transaction, the insider now directly owns 13,939 shares in the company, valued at $1,459,831.47. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of T. Rowe Price Group stock in a transaction on Friday, September 6th. The shares were sold at an average price of $102.83, for a total transaction of $1,230,772.27. Following the completion of the sale, the vice president now directly owns 123,624 shares of the company’s stock, valued at approximately $12,712,255.92. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jessica M. Hiebler sold 484 shares of the stock in a transaction on Friday, September 13th. The shares were sold at an average price of $104.73, for a total value of $50,689.32. Following the completion of the transaction, the insider now directly owns 13,939 shares in the company, valued at approximately $1,459,831.47. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by company insiders.

About T. Rowe Price Group

T. Rowe Price Group, Inc is a publicly owned investment manager. The firm provides its services to individuals, institutional investors, retirement plans, financial intermediaries, and institutions. It launches and manages equity and fixed income mutual funds. The firm invests in the public equity and fixed income markets across the globe.