Citizens Financial Group Inc. RI Reduces Stock Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Citizens Financial Group Inc. RI decreased its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 29.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,067 shares of the asset manager’s stock after selling 850 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in T. Rowe Price Group were worth $225,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of TROW. Price T Rowe Associates Inc. MD increased its position in shares of T. Rowe Price Group by 0.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 295,449 shares of the asset manager’s stock valued at $36,022,000 after buying an additional 2,323 shares in the last quarter. Public Employees Retirement System of Ohio raised its position in T. Rowe Price Group by 9.1% during the first quarter. Public Employees Retirement System of Ohio now owns 161,979 shares of the asset manager’s stock worth $19,748,000 after acquiring an additional 13,468 shares during the last quarter. Paloma Partners Management Co lifted its holdings in shares of T. Rowe Price Group by 148.7% in the first quarter. Paloma Partners Management Co now owns 5,703 shares of the asset manager’s stock valued at $695,000 after purchasing an additional 17,403 shares in the last quarter. Caxton Associates LP grew its position in shares of T. Rowe Price Group by 124.6% in the first quarter. Caxton Associates LP now owns 16,782 shares of the asset manager’s stock valued at $2,046,000 after purchasing an additional 9,310 shares during the last quarter. Finally, Kinloch Capital LLC increased its stake in shares of T. Rowe Price Group by 27.4% during the 1st quarter. Kinloch Capital LLC now owns 32,082 shares of the asset manager’s stock worth $3,911,000 after purchasing an additional 6,896 shares in the last quarter. Institutional investors and hedge funds own 73.39% of the company’s stock.

T. Rowe Price Group Price Performance

NASDAQ TROW opened at $119.84 on Friday. The business’s 50-day simple moving average is $112.20 and its 200-day simple moving average is $112.44. The firm has a market capitalization of $26.62 billion, a P/E ratio of 13.11, a P/E/G ratio of 1.68 and a beta of 1.41. T. Rowe Price Group, Inc. has a 1-year low of $96.48 and a 1-year high of $122.27.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings data on Friday, November 1st. The asset manager reported $2.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.21. The company had revenue of $1.79 billion during the quarter, compared to analyst estimates of $1.84 billion. T. Rowe Price Group had a net margin of 30.35% and a return on equity of 20.35%. The business’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.17 earnings per share. On average, equities research analysts expect that T. Rowe Price Group, Inc. will post 9.33 EPS for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be given a $1.24 dividend. This represents a $4.96 annualized dividend and a dividend yield of 4.14%. The ex-dividend date of this dividend is Friday, December 13th. T. Rowe Price Group’s payout ratio is 54.27%.

Analyst Ratings Changes

A number of brokerages have commented on TROW. Morgan Stanley increased their target price on T. Rowe Price Group from $127.00 to $129.00 and gave the company an “equal weight” rating in a report on Monday, November 4th. Barclays upped their target price on shares of T. Rowe Price Group from $101.00 to $110.00 and gave the company an “underweight” rating in a report on Monday, November 4th. Wells Fargo & Company lifted their price target on shares of T. Rowe Price Group from $109.00 to $112.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 9th. JPMorgan Chase & Co. reduced their price objective on shares of T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating on the stock in a research note on Monday, November 4th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of T. Rowe Price Group from $115.00 to $120.00 and gave the stock a “hold” rating in a research note on Monday, November 11th. Four research analysts have rated the stock with a sell rating and eight have given a hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $115.55.

Insider Activity at T. Rowe Price Group

In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the business’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $102.83, for a total value of $1,230,772.27. Following the transaction, the vice president now owns 123,624 shares in the company, valued at $12,712,255.92. The trade was a 8.83 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Jessica M. Hiebler sold 484 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were 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 of the company’s stock, valued at approximately $1,459,831.47. The trade was a 3.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.

T. Rowe Price Group Profile

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.