Plimoth Trust Co. LLC Lowers Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Plimoth Trust Co. LLC cut its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 3.0% during the third quarter, Holdings Channel.com reports. The firm owned 3,846 shares of the asset manager’s stock after selling 120 shares during the period. Plimoth Trust Co. LLC’s holdings in T. Rowe Price Group were worth $419,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Ashton Thomas Private Wealth LLC purchased a new stake in shares of T. Rowe Price Group during the 1st quarter valued at $1,008,000. Envestnet Portfolio Solutions Inc. raised its holdings in T. Rowe Price Group by 52.4% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 65,534 shares of the asset manager’s stock worth $7,990,000 after purchasing an additional 22,533 shares during the period. Norden Group LLC acquired a new position in shares of T. Rowe Price Group during the 1st quarter worth approximately $8,437,000. Forsta AP Fonden lifted its holdings in T. Rowe Price Group by 32.3% during the second quarter. Forsta AP Fonden now owns 70,100 shares of the asset manager’s stock valued at $8,083,000 after purchasing an additional 17,100 shares in the last quarter. Finally, Mizuho Markets Americas LLC boosted its holdings in T. Rowe Price Group by 90.0% in the 1st quarter. Mizuho Markets Americas LLC now owns 90,688 shares of the asset manager’s stock worth $11,057,000 after buying an additional 42,949 shares during the last quarter. 73.39% of the stock is owned by institutional investors.

Insider Transactions at T. Rowe Price Group

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

T. Rowe Price Group Price Performance

Shares of NASDAQ:TROW traded down $1.62 during mid-day trading on Monday, reaching $114.01. 1,032,432 shares of the company were exchanged, compared to its average volume of 1,253,214. T. Rowe Price Group, Inc. has a 1 year low of $87.43 and a 1 year high of $122.27. The firm’s 50-day simple moving average is $107.54 and its 200 day simple moving average is $111.96. The firm has a market cap of $25.46 billion, a price-to-earnings ratio of 13.54, a P/E/G ratio of 1.93 and a beta of 1.41.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings results on Friday, July 26th. The asset manager reported $2.26 EPS for the quarter, missing the consensus estimate of $2.27 by ($0.01). The firm had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.79 billion. T. Rowe Price Group had a return on equity of 19.90% and a net margin of 28.66%. The company’s quarterly revenue was up 7.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.02 earnings per share. On average, research analysts forecast that T. Rowe Price Group, Inc. will post 9.08 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were paid a dividend of $1.24 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $4.96 dividend on an annualized basis and a yield of 4.35%. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 58.91%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $120.00 price target (down from $121.00) on shares of T. Rowe Price Group in a research report on Monday, July 29th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the company a “hold” rating in a research report on Thursday, August 15th. StockNews.com cut shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Wells Fargo & Company boosted their target price on shares of T. Rowe Price Group from $109.00 to $112.00 and gave the company an “equal weight” rating in a report on Wednesday, October 9th. Finally, Evercore ISI raised their price target on shares of T. Rowe Price Group from $108.00 to $109.00 and gave the stock an “in-line” rating in a report on Friday, October 4th. Four research analysts have rated the stock with a sell rating and eight have given a hold rating to the company. Based on data from MarketBeat.com, T. Rowe Price Group has an average rating of “Hold” and an average price target of $113.00.

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.