AlphaQuest LLC Sells 1,100 Shares of T. Rowe Price Group, Inc. $TROW

AlphaQuest LLC trimmed its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 24.0% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,480 shares of the asset manager’s stock after selling 1,100 shares during the period. AlphaQuest LLC’s holdings in T. Rowe Price Group were worth $336,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in TROW. Invesco Ltd. raised its stake in shares of T. Rowe Price Group by 43.2% in the 1st quarter. Invesco Ltd. now owns 3,433,684 shares of the asset manager’s stock valued at $315,453,000 after acquiring an additional 1,035,865 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of T. Rowe Price Group by 7.2% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 7,706,251 shares of the asset manager’s stock valued at $707,973,000 after acquiring an additional 519,075 shares in the last quarter. ARGA Investment Management LP raised its stake in shares of T. Rowe Price Group by 3,807.3% in the 2nd quarter. ARGA Investment Management LP now owns 477,161 shares of the asset manager’s stock valued at $46,046,000 after acquiring an additional 464,949 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of T. Rowe Price Group in the 2nd quarter valued at approximately $37,722,000. Finally, Vanguard Group Inc. raised its stake in shares of T. Rowe Price Group by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 26,286,393 shares of the asset manager’s stock valued at $2,414,931,000 after acquiring an additional 222,556 shares in the last quarter. 73.39% of the stock is owned by institutional investors.

T. Rowe Price Group Trading Down 1.3%

Shares of NASDAQ:TROW opened at $102.13 on Friday. T. Rowe Price Group, Inc. has a 1-year low of $77.85 and a 1-year high of $125.81. The firm has a market capitalization of $22.44 billion, a PE ratio of 11.41, a PEG ratio of 5.61 and a beta of 1.50. The business’s 50 day moving average is $105.19 and its 200-day moving average is $100.03.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings results on Friday, August 1st. The asset manager reported $2.24 EPS for the quarter, beating the consensus estimate of $2.15 by $0.09. The business had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.72 billion. T. Rowe Price Group had a return on equity of 19.77% and a net margin of 28.72%.T. Rowe Price Group’s quarterly revenue was down .6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.26 EPS. On average, sell-side analysts predict that T. Rowe Price Group, Inc. will post 9.29 EPS for the current year.

T. Rowe Price Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 30th. Investors of record on Monday, December 15th will be paid a $1.27 dividend. The ex-dividend date of this dividend is Monday, December 15th. This represents a $5.08 annualized dividend and a yield of 5.0%. T. Rowe Price Group’s payout ratio is currently 56.76%.

Wall Street Analyst Weigh In

TROW has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft lifted their price target on T. Rowe Price Group from $109.00 to $114.00 and gave the stock a “hold” rating in a research report on Thursday, October 9th. Wells Fargo & Company lifted their price target on T. Rowe Price Group from $98.00 to $108.00 and gave the stock an “equal weight” rating in a research report on Friday, July 11th. The Goldman Sachs Group lifted their price target on T. Rowe Price Group from $91.00 to $92.00 and gave the stock a “sell” rating in a research report on Friday, October 3rd. JPMorgan Chase & Co. lifted their price target on T. Rowe Price Group from $102.00 to $109.00 and gave the stock an “underweight” rating in a research report on Wednesday, October 15th. Finally, Morgan Stanley lifted their price target on T. Rowe Price Group from $125.00 to $126.00 and gave the stock an “equal weight” rating in a research report on Monday. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus price target of $107.62.

Insider Buying and Selling

In related news, Director Robert F. Maclellan sold 3,090 shares of the business’s stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $105.01, for a total value of $324,480.90. Following the sale, the director owned 47,335 shares of the company’s stock, valued at $4,970,648.35. The trade was a 6.13% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.00% of the stock is currently owned by corporate insiders.

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.