T. Rowe Price Group, Inc. (NASDAQ:TROW) Shares Sold by Sky Investment Group LLC

Sky Investment Group LLC lessened its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 3.4% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 54,576 shares of the asset manager’s stock after selling 1,911 shares during the quarter. Sky Investment Group LLC’s holdings in T. Rowe Price Group were worth $5,945,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. West Coast Financial LLC bought a new stake in T. Rowe Price Group during the 1st quarter valued at $272,000. Hoxton Planning & Management LLC bought a new position in shares of T. Rowe Price Group in the first quarter worth $204,000. ARGA Investment Management LP acquired a new position in shares of T. Rowe Price Group during the first quarter valued at $1,381,000. IAM Advisory LLC bought a new stake in shares of T. Rowe Price Group during the first quarter valued at about $231,000. Finally, Elevated Capital Advisors LLC lifted its holdings in T. Rowe Price Group by 10.3% in the first quarter. Elevated Capital Advisors LLC now owns 6,701 shares of the asset manager’s stock worth $817,000 after purchasing an additional 624 shares during the period. 73.39% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. The Goldman Sachs Group lowered their target price on shares of T. Rowe Price Group from $106.00 to $102.00 and set a “sell” rating on the stock in a research note on Thursday, October 3rd. TD Cowen dropped their price objective on T. Rowe Price Group from $123.00 to $118.00 and set a “hold” rating on the stock in a research note on Monday, July 29th. 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 raised their price objective on shares of T. Rowe Price Group from $109.00 to $112.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 9th. Finally, Evercore ISI lifted their price objective on shares of T. Rowe Price Group from $108.00 to $109.00 and gave the stock an “in-line” rating in a research note 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. According to MarketBeat, T. Rowe Price Group currently has a consensus rating of “Hold” and an average target price of $113.00.

T. Rowe Price Group Trading Down 0.5 %

TROW stock traded down $0.62 during mid-day trading on Tuesday, reaching $113.39. 120,986 shares of the stock traded hands, compared to its average volume of 1,247,665. T. Rowe Price Group, Inc. has a 52-week low of $87.43 and a 52-week high of $122.27. The stock’s fifty day moving average is $107.73 and its 200-day moving average is $111.95. The company has a market cap of $25.32 billion, a P/E 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 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.27 by ($0.01). T. Rowe Price Group had a net margin of 28.66% and a return on equity of 19.90%. The firm had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.79 billion. During the same quarter in the prior year, the firm earned $2.02 EPS. The firm’s revenue was up 7.6% compared to the same quarter last year. Equities research analysts expect that T. Rowe Price Group, Inc. will post 9.08 earnings per share for the current year.

T. Rowe Price Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were issued a $1.24 dividend. The ex-dividend date was Friday, September 13th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 4.37%. T. Rowe Price Group’s payout ratio is currently 58.91%.

Insider Transactions at T. Rowe Price Group

In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of T. Rowe Price Group stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $102.83, for a total transaction of $1,230,772.27. Following the transaction, the vice president now owns 123,624 shares of the company’s stock, valued at $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 available through this hyperlink. In other 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 transaction of $1,230,772.27. Following the transaction, the vice president now directly owns 123,624 shares in the company, valued at $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 available at this link. Also, insider Jessica M. Hiebler sold 484 shares of the company’s stock in a transaction on 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. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by insiders.

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.