T. Rowe Price Group, Inc. $TROW Stock: Vest Financial LLC Lowers Position

Vest Financial LLC lessened its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 8.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 500,633 shares of the asset manager’s stock after selling 48,011 shares during the period. Vest Financial LLC’s holdings in T. Rowe Price Group were worth $52,091,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. BlackRock Inc. purchased a new position in shares of T. Rowe Price Group during the second quarter valued at approximately $2,728,119,000. State Street Corp raised its holdings in T. Rowe Price Group by 2.7% in the 2nd quarter. State Street Corp now owns 14,653,478 shares of the asset manager’s stock valued at $1,665,954,000 after acquiring an additional 381,183 shares during the last quarter. First Trust Advisors LP raised its holdings in T. Rowe Price Group by 12.6% in the 1st quarter. First Trust Advisors LP now owns 3,694,171 shares of the asset manager’s stock valued at $332,993,000 after acquiring an additional 413,317 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in T. Rowe Price Group by 20.0% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,150,561 shares of the asset manager’s stock valued at $358,187,000 after acquiring an additional 524,544 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in shares of T. Rowe Price Group by 1.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,124,696 shares of the asset manager’s stock worth $191,512,000 after purchasing an additional 37,642 shares during the period. Institutional investors and hedge funds own 73.39% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on TROW shares. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $109.00 price objective on shares of T. Rowe Price Group in a report on Monday, August 3rd. Barclays lowered their price objective on T. Rowe Price Group from $103.00 to $102.00 and set an “underweight” rating for the company in a research report on Wednesday, October 14th. UBS Group began coverage on T. Rowe Price Group in a research note on Wednesday, October 7th. They issued a “neutral” rating and a $107.00 target price for the company. TD Cowen reduced their target price on T. Rowe Price Group from $110.00 to $109.00 and set a “hold” rating on the stock in a research report on Monday, October 12th. Finally, Weiss Ratings upgraded T. Rowe Price Group from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, September 4th. One analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Reduce” and an average price target of $104.08.

T. Rowe Price Group Stock Performance

T. Rowe Price Group stock opened at $103.29 on Thursday. T. Rowe Price Group, Inc. has a 1 year low of $85.22 and a 1 year high of $122.00. The firm has a 50 day moving average price of $106.60 and a 200 day moving average price of $107.04. The company has a market cap of $22.03 billion, a price-to-earnings ratio of 10.36, a PEG ratio of 2.98 and a beta of 1.45.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings results on Friday, July 31st. The asset manager reported $2.57 EPS for the quarter, topping the consensus estimate of $2.52 by $0.05. The firm had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.89 billion. T. Rowe Price Group had a net margin of 29.26% and a return on equity of 20.91%. T. Rowe Price Group’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.24 earnings per share. Sell-side analysts predict that T. Rowe Price Group, Inc. will post 10.10 EPS for the current year.

T. Rowe Price Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 15th were given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 5.0%. The ex-dividend date of this dividend was Tuesday, September 15th. T. Rowe Price Group’s payout ratio is 52.16%.

Insider Transactions at T. Rowe Price Group

In related news, VP Joshua Nelson sold 10,000 shares of T. Rowe Price Group stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $111.82, for a total transaction of $1,118,200.00. Following the transaction, the vice president owned 71,328 shares in the company, valued at approximately $7,975,896.96. The trade was a 12.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.60% of the stock is currently owned by corporate insiders.

T. Rowe Price Group Company Profile

T. Rowe Price Group, Inc is a global investment management firm headquartered in Baltimore, Maryland. Founded in 1937 by Thomas Rowe Price Jr., the company provides investment strategies and advisory services to individual investors, retirement plans, financial intermediaries, institutions and other clients.

The company offers a range of actively managed and multi-asset investment products, including mutual funds, exchange-traded funds, separately managed accounts and other portfolio solutions.