T. Rowe Price Group, Inc. (NASDAQ:TROW) Shares Sold by Apollon Wealth Management LLC

Apollon Wealth Management LLC cut its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 26.7% during the third quarter, Holdings Channel reports. The firm owned 6,104 shares of the asset manager’s stock after selling 2,218 shares during the period. Apollon Wealth Management LLC’s holdings in T. Rowe Price Group were worth $665,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently modified their holdings of TROW. Victory Capital Management Inc. increased its holdings in T. Rowe Price Group by 3.8% in the 2nd quarter. Victory Capital Management Inc. now owns 3,436,019 shares of the asset manager’s stock worth $396,207,000 after buying an additional 124,686 shares during the period. American Century Companies Inc. increased its stake in shares of T. Rowe Price Group by 4.5% in the second quarter. American Century Companies Inc. now owns 2,512,793 shares of the asset manager’s stock worth $289,750,000 after acquiring an additional 107,086 shares during the period. Provident Trust Co. increased its stake in shares of T. Rowe Price Group by 0.3% in the third quarter. Provident Trust Co. now owns 2,397,728 shares of the asset manager’s stock worth $261,185,000 after acquiring an additional 7,905 shares during the period. ProShare Advisors LLC lifted its position in T. Rowe Price Group by 2.5% during the second quarter. ProShare Advisors LLC now owns 1,635,519 shares of the asset manager’s stock valued at $188,592,000 after purchasing an additional 40,490 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in T. Rowe Price Group by 15.8% in the second quarter. Dimensional Fund Advisors LP now owns 1,611,307 shares of the asset manager’s stock valued at $185,810,000 after purchasing an additional 220,105 shares during the last quarter. 73.39% of the stock is currently owned by hedge funds and other institutional investors.

T. Rowe Price Group Trading Down 0.9 %

Shares of T. Rowe Price Group stock opened at $118.77 on Friday. T. Rowe Price Group, Inc. has a twelve month low of $96.46 and a twelve month high of $122.27. The firm has a market capitalization of $26.39 billion, a PE ratio of 12.99, a P/E/G ratio of 1.68 and a beta of 1.41. The firm’s 50-day moving average price is $110.77 and its 200 day moving average price is $112.16.

T. Rowe Price Group (NASDAQ:TROW) last released its earnings results on Friday, November 1st. The asset manager reported $2.57 earnings per share for the quarter, beating the consensus estimate of $2.36 by $0.21. T. Rowe Price Group had a return on equity of 20.35% and a net margin of 30.35%. The business had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.84 billion. During the same quarter last year, the business posted $2.17 earnings per share. The business’s quarterly revenue was up 6.9% compared to the same quarter last year. On average, sell-side analysts predict that T. Rowe Price Group, Inc. will post 9.33 EPS for the current fiscal year.

T. Rowe Price Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be issued a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a dividend yield of 4.18%. The ex-dividend date of this dividend is Friday, December 13th. T. Rowe Price Group’s payout ratio is 54.27%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on TROW. TD Cowen reduced their price objective on T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating for the company in a research note on Monday, November 4th. Wells Fargo & Company boosted their price target on T. Rowe Price Group from $109.00 to $112.00 and gave the company an “equal weight” rating in a report on Wednesday, October 9th. Morgan Stanley raised their price objective on shares of T. Rowe Price Group from $127.00 to $129.00 and gave the stock an “equal weight” rating in a research note on Monday, November 4th. The Goldman Sachs Group decreased their target price on shares of T. Rowe Price Group from $106.00 to $102.00 and set a “sell” rating for the company in a research note on Thursday, October 3rd. Finally, Keefe, Bruyette & Woods restated a “market perform” rating and set a $120.00 price target (down previously from $121.00) on shares of T. Rowe Price Group in a research report on Monday, July 29th. Four research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $115.55.

Insider Activity

In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 484 shares of the firm’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $104.73, for a total value of $50,689.32. Following the completion of the sale, the insider now directly owns 13,939 shares of the company’s stock, valued at $1,459,831.47. This trade represents a 3.36 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the business’s stock in a transaction dated 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 approximately $12,712,255.92. The trade was a 8.83 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.

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.