Metis Global Partners LLC Has $1.12 Million Position in T. Rowe Price Group, Inc. $TROW

Metis Global Partners LLC lessened its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 21.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,641 shares of the asset manager’s stock after selling 3,102 shares during the quarter. Metis Global Partners LLC’s holdings in T. Rowe Price Group were worth $1,123,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. TFG Advisers LLC boosted its position in shares of T. Rowe Price Group by 3.6% during the 2nd quarter. TFG Advisers LLC now owns 2,779 shares of the asset manager’s stock valued at $268,000 after acquiring an additional 97 shares in the last quarter. Bill Few Associates Inc. lifted its stake in T. Rowe Price Group by 4.3% during the second quarter. Bill Few Associates Inc. now owns 2,577 shares of the asset manager’s stock worth $249,000 after purchasing an additional 107 shares during the period. Cooper Financial Group boosted its holdings in T. Rowe Price Group by 5.2% during the first quarter. Cooper Financial Group now owns 2,234 shares of the asset manager’s stock valued at $205,000 after purchasing an additional 110 shares in the last quarter. Associated Banc Corp grew its stake in shares of T. Rowe Price Group by 0.5% in the 1st quarter. Associated Banc Corp now owns 24,864 shares of the asset manager’s stock valued at $2,284,000 after purchasing an additional 114 shares during the period. Finally, Dakota Wealth Management grew its stake in shares of T. Rowe Price Group by 4.7% in the 2nd quarter. Dakota Wealth Management now owns 2,537 shares of the asset manager’s stock valued at $245,000 after purchasing an additional 114 shares during the period. 73.39% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other T. Rowe Price Group news, Director Robert F. Maclellan sold 3,090 shares of the business’s stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $105.01, for a total transaction of $324,480.90. Following the completion of the sale, the director directly owned 47,335 shares of the company’s stock, valued at approximately $4,970,648.35. The trade was a 6.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 2.00% of the company’s stock.

T. Rowe Price Group Price Performance

Shares of T. Rowe Price Group stock opened at $103.67 on Wednesday. The firm has a 50 day simple moving average of $104.32 and a 200 day simple moving average of $101.09. T. Rowe Price Group, Inc. has a fifty-two week low of $77.85 and a fifty-two week high of $125.81. The firm has a market cap of $22.62 billion, a P/E ratio of 11.58, a P/E/G ratio of 5.61 and a beta of 1.51.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings data on Friday, October 31st. The asset manager reported $2.81 EPS for the quarter, beating analysts’ consensus estimates of $2.55 by $0.26. The firm had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.88 billion. T. Rowe Price Group had a return on equity of 19.77% and a net margin of 28.72%.The business’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same period last year, the company earned $2.57 EPS. On average, sell-side analysts expect that T. Rowe Price Group, Inc. will post 9.29 EPS for the current year.

T. Rowe Price Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Investors of record on Monday, December 15th will be given a $1.27 dividend. This represents a $5.08 dividend on an annualized basis and a yield of 4.9%. The ex-dividend date is Monday, December 15th. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 55.34%.

Wall Street Analyst Weigh In

Several analysts recently commented on TROW shares. JPMorgan Chase & Co. boosted their price target on T. Rowe Price Group from $109.00 to $111.00 and gave the company an “underweight” rating in a research note on Monday, November 3rd. Weiss Ratings reiterated a “hold (c)” rating on shares of T. Rowe Price Group in a research note on Wednesday, October 8th. The Goldman Sachs Group lifted their price objective on T. Rowe Price Group from $93.00 to $98.00 in a report on Monday, November 3rd. Bank of America upped their target price on shares of T. Rowe Price Group from $91.00 to $97.00 and gave the stock an “underperform” rating in a report on Thursday, October 2nd. Finally, BMO Capital Markets assumed coverage on shares of T. Rowe Price Group in a report on Friday, October 3rd. They set a “market perform” rating and a $108.00 price target for the company. One investment 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 company’s stock. Based on data from MarketBeat, T. Rowe Price Group presently has a consensus rating of “Reduce” and a consensus target price of $109.31.

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.