Strategic Investment Advisors MI Cuts Stock Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Strategic Investment Advisors MI cut its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 0.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,158 shares of the asset manager’s stock after selling 110 shares during the period. Strategic Investment Advisors MI’s holdings in T. Rowe Price Group were worth $1,375,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Principal Financial Group Inc. grew its position in shares of T. Rowe Price Group by 2.8% in the third quarter. Principal Financial Group Inc. now owns 275,978 shares of the asset manager’s stock valued at $30,062,000 after purchasing an additional 7,503 shares in the last quarter. Janus Henderson Group PLC grew its position in T. Rowe Price Group by 3.8% in the third quarter. Janus Henderson Group PLC now owns 29,989 shares of the asset manager’s stock worth $3,267,000 after acquiring an additional 1,100 shares during the period. Aigen Investment Management LP purchased a new position in T. Rowe Price Group in the third quarter worth approximately $516,000. Charles Schwab Investment Management Inc. grew its position in T. Rowe Price Group by 3.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 6,840,807 shares of the asset manager’s stock worth $745,169,000 after acquiring an additional 231,286 shares during the period. Finally, Quest Partners LLC grew its position in T. Rowe Price Group by 442,900.0% in the third quarter. Quest Partners LLC now owns 4,430 shares of the asset manager’s stock worth $483,000 after acquiring an additional 4,429 shares during the period. 73.39% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently weighed in on TROW shares. The Goldman Sachs Group lowered their price objective on T. Rowe Price Group from $106.00 to $102.00 and set a “sell” rating for the company in a research report on Thursday, October 3rd. JPMorgan Chase & Co. decreased their price target on 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. Wells Fargo & Company decreased their price target on T. Rowe Price Group from $124.00 to $118.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 14th. Evercore ISI upped their price target on T. Rowe Price Group from $112.00 to $113.00 and gave the stock an “in-line” rating in a research note on Thursday, November 7th. Finally, StockNews.com upgraded T. Rowe Price Group from a “hold” rating to a “buy” rating in a research note on Saturday. Four research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $115.82.

Insider Activity at T. Rowe Price Group

In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $123.35, for a total transaction of $499,197.45. Following the transaction, the vice president now owns 119,577 shares of the company’s stock, valued at approximately $14,749,822.95. This trade represents a 3.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.00% of the stock is currently owned by corporate insiders.

T. Rowe Price Group Trading Up 0.7 %

Shares of NASDAQ TROW opened at $114.21 on Monday. The stock has a market cap of $25.37 billion, a P/E ratio of 12.50, a PEG ratio of 1.68 and a beta of 1.43. The business’s fifty day simple moving average is $117.22 and its 200-day simple moving average is $112.79. T. Rowe Price Group, Inc. has a 12-month low of $100.49 and a 12-month high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last posted its earnings results on Friday, November 1st. The asset manager reported $2.57 EPS for the quarter, beating the consensus estimate of $2.36 by $0.21. The firm had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.84 billion. T. Rowe Price Group had a return on equity of 20.35% and a net margin of 30.35%. T. Rowe Price Group’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.17 earnings per share. On average, equities analysts forecast that T. Rowe Price Group, Inc. will post 9.45 EPS for the current fiscal year.

T. Rowe Price Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, December 13th were issued a $1.24 dividend. This represents a $4.96 annualized dividend and a yield of 4.34%. The ex-dividend date of this dividend was Friday, December 13th. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 54.27%.

T. Rowe Price Group Company 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.