T. Rowe Price Group, Inc. (NASDAQ:TROW) Short Interest Up 19.2% in September

T. Rowe Price Group, Inc. (NASDAQ:TROW) saw a significant increase in short interest in the month of September. As of September 15th, there was short interest totalling 11,810,000 shares, an increase of 19.2% from the August 31st total of 9,910,000 shares. Currently, 5.4% of the company’s shares are short sold. Based on an average daily trading volume, of 1,110,000 shares, the days-to-cover ratio is currently 10.6 days.

Analyst Ratings Changes

Several research firms recently commented on TROW. Evercore ISI decreased their price target on shares of T. Rowe Price Group from $115.00 to $108.00 and set an “in-line” rating for the company in a report on Thursday, September 5th. StockNews.com lowered shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. JPMorgan Chase & Co. upped their price target on shares of T. Rowe Price Group from $102.00 to $107.00 and gave the stock an “underweight” rating in a research note on Tuesday, July 23rd. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $120.00 price objective (down from $121.00) on shares of T. Rowe Price Group in a report on Monday, July 29th. Finally, Wells Fargo & Company began coverage on T. Rowe Price Group in a research note on Thursday, September 12th. They issued an “equal weight” rating and a $109.00 target price on the stock. Three 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 currently has a consensus rating of “Hold” and a consensus price target of $113.30.

T. Rowe Price Group Trading Up 0.1 %

TROW stock opened at $109.51 on Monday. The firm has a market cap of $24.45 billion, a PE ratio of 13.01, a PEG ratio of 1.75 and a beta of 1.41. T. Rowe Price Group has a 1 year low of $87.43 and a 1 year high of $122.27. The company has a fifty day simple moving average of $107.90 and a 200 day simple moving average of $112.94.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings results on Friday, July 26th. The asset manager reported $2.26 earnings per share for the quarter, missing analysts’ consensus estimates of $2.27 by ($0.01). The company had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.79 billion. T. Rowe Price Group had a return on equity of 19.90% and a net margin of 28.66%. T. Rowe Price Group’s quarterly revenue was up 7.6% on a year-over-year basis. During the same period in the prior year, the firm earned $2.02 EPS. As a group, analysts forecast that T. Rowe Price Group will post 8.96 EPS for the current fiscal year.

T. Rowe Price Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were given a dividend of $1.24 per share. The ex-dividend date was Friday, September 13th. This represents a $4.96 dividend on an annualized basis and a yield of 4.53%. T. Rowe Price Group’s payout ratio is currently 58.91%.

Insiders Place Their Bets

In other news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the business’s stock in a transaction that occurred 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 sale, the vice president now owns 123,624 shares in the company, valued at $12,712,255.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 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 in the company, valued at $12,712,255.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jessica M. Hiebler sold 484 shares of the company’s 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 transaction, the insider now directly owns 13,939 shares in the company, valued at $1,459,831.47. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

Institutional Trading of T. Rowe Price Group

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Ashton Thomas Private Wealth LLC bought a new position in T. Rowe Price Group during the first quarter valued at about $1,008,000. Nebula Research & Development LLC bought a new stake in shares of T. Rowe Price Group during the fourth quarter valued at approximately $807,000. Fisher Asset Management LLC increased its position in shares of T. Rowe Price Group by 6.6% during the fourth quarter. Fisher Asset Management LLC now owns 1,751,405 shares of the asset manager’s stock valued at $188,609,000 after purchasing an additional 109,053 shares during the period. Envestnet Portfolio Solutions Inc. raised its stake in shares of T. Rowe Price Group by 52.4% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 65,534 shares of the asset manager’s stock valued at $7,990,000 after purchasing an additional 22,533 shares in the last quarter. Finally, Norden Group LLC bought a new position in T. Rowe Price Group in the first quarter worth $8,437,000. 73.39% of the stock is currently owned by institutional investors and hedge funds.

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.