T. Rowe Price Group, Inc. $TROW Stock: Yousif Capital Management LLC Lowers Position

Yousif Capital Management LLC reduced its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 7.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 76,789 shares of the asset manager’s stock after selling 5,863 shares during the period. Yousif Capital Management LLC’s holdings in T. Rowe Price Group were worth $7,990,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TROW. Brookstone Capital Management raised its position in T. Rowe Price Group by 7.3% during the third quarter. Brookstone Capital Management now owns 7,998 shares of the asset manager’s stock valued at $832,000 after acquiring an additional 541 shares in the last quarter. NBT Bank N.A. acquired a new stake in T. Rowe Price Group in the third quarter valued at approximately $3,281,000. Root Financial Partners LLC acquired a new stake in T. Rowe Price Group in the third quarter valued at approximately $66,000. Cardinal Capital Management grew its position in T. Rowe Price Group by 6.7% in the third quarter. Cardinal Capital Management now owns 77,933 shares of the asset manager’s stock worth $8,109,000 after acquiring an additional 4,883 shares in the last quarter. Finally, Quadrant Capital Group LLC grew its position in T. Rowe Price Group by 1.2% in the third quarter. Quadrant Capital Group LLC now owns 10,849 shares of the asset manager’s stock worth $1,100,000 after acquiring an additional 127 shares in the last quarter. 73.39% of the stock is owned by hedge funds and other institutional investors.

T. Rowe Price Group Stock Up 0.7%

Shares of T. Rowe Price Group stock opened at $104.20 on Friday. The stock has a market capitalization of $22.23 billion, a P/E ratio of 10.45, a PEG ratio of 3.05 and a beta of 1.45. The stock has a 50 day moving average price of $106.32 and a two-hundred day moving average price of $107.11. T. Rowe Price Group, Inc. has a 12-month low of $85.22 and a 12-month high of $122.00.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings results on Friday, July 31st. The asset manager reported $2.57 EPS for the quarter, beating the consensus estimate of $2.52 by $0.05. T. Rowe Price Group had a return on equity of 20.91% and a net margin of 29.26%. The company had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.89 billion. During the same quarter last year, the company posted $2.24 earnings per share. The company’s revenue for the quarter was up 10.7% compared to the same quarter last year. Sell-side analysts anticipate that T. Rowe Price Group, Inc. will post 10.08 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

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

Insider Activity

In related news, VP Joshua Nelson sold 10,000 shares of the firm’s stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $111.82, for a total value of $1,118,200.00. Following the transaction, the vice president directly owned 71,328 shares in the company, valued at approximately $7,975,896.96. This trade represents a 12.30% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 1.60% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on TROW shares. The Goldman Sachs Group increased their price target on shares of T. Rowe Price Group from $90.00 to $92.00 and gave the stock a “sell” rating in a research note on Tuesday, June 30th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $109.00 price objective on shares of T. Rowe Price Group in a research note on Monday, August 3rd. Morgan Stanley upped their price objective on shares of T. Rowe Price Group from $110.00 to $112.00 and gave the stock an “equal weight” rating in a report on Friday. UBS Group began coverage on shares of T. Rowe Price Group in a research report on Wednesday, October 7th. They set a “neutral” rating and a $107.00 target price on the stock. Finally, BMO Capital Markets cut their target price on T. Rowe Price Group from $120.00 to $110.00 and set a “market perform” rating on the stock in a report on Tuesday, October 13th. One investment analyst has rated the stock with a Buy rating, ten have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, T. Rowe Price Group currently has an average rating of “Reduce” and a consensus price target of $104.23.

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.