T. Rowe Price Group, Inc. $TROW Stock: Vise Technologies Inc. Lowers Holdings

Vise Technologies Inc. cut its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 21.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,625 shares of the asset manager’s stock after selling 7,454 shares during the quarter. Vise Technologies Inc.’s holdings in T. Rowe Price Group were worth $2,874,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. BlackRock Inc. purchased a new stake in T. Rowe Price Group during the 2nd quarter valued at about $2,728,119,000. Legal & General Group Plc acquired a new position in T. Rowe Price Group in the 2nd quarter worth approximately $183,130,000. Bank of America Corp DE acquired a new position in T. Rowe Price Group in the 2nd quarter worth approximately $170,572,000. Bank of New York Mellon Corp purchased a new position in T. Rowe Price Group during the 2nd quarter worth approximately $167,984,000. Finally, Caisse de depot et placement du Quebec purchased a new position in T. Rowe Price Group during the 2nd quarter worth approximately $132,649,000. 73.39% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other T. Rowe Price Group news, VP Joshua Nelson sold 10,000 shares of the company’s 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 completion of the transaction, the vice president directly owned 71,328 shares in the company, valued at approximately $7,975,896.96. This represents a 12.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.60% of the company’s stock.

T. Rowe Price Group Stock Up 6.0%

Shares of T. Rowe Price Group stock opened at $112.57 on Thursday. The firm has a market cap of $24.01 billion, a PE ratio of 11.38, a P/E/G ratio of 4.07 and a beta of 1.43. T. Rowe Price Group, Inc. has a twelve month low of $85.22 and a twelve month high of $122.00. The business has a 50-day moving average price of $105.41 and a 200 day moving average price of $103.74.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings data on Thursday, October 29th. The asset manager reported $2.86 EPS for the quarter, beating analysts’ consensus estimates of $2.63 by $0.23. The business had revenue of $2 billion during the quarter, compared to analysts’ expectations of $1.98 billion. T. Rowe Price Group had a return on equity of 20.63% and a net margin of 28.40%. The business’s revenue was up 5.9% compared to the same quarter last year. During the same period in the previous year, the business earned $2.81 earnings per share. On average, sell-side analysts expect that T. Rowe Price Group, Inc. will post 10.29 EPS for the current year.

T. Rowe Price Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 29th. Investors of record on Wednesday, December 16th will be paid a $1.30 dividend. The ex-dividend date of this dividend is Wednesday, December 16th. This represents a $5.20 dividend on an annualized basis and a yield of 4.6%. T. Rowe Price Group’s dividend payout ratio (DPR) is currently 52.58%.

Analyst Upgrades and Downgrades

TROW has been the topic of several recent research reports. Weiss Ratings raised shares of T. Rowe Price Group from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, September 4th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $109.00 target price on shares of T. Rowe Price Group in a report on Monday, August 3rd. Keefe, Bruyette & Woods restated a “market perform” rating and set a $113.00 target price (up from $112.00) on shares of T. Rowe Price Group in a research report on Friday, October 30th. JPMorgan Chase & Co. upped their price target on shares of T. Rowe Price Group from $106.00 to $107.00 and gave the company an “underweight” rating in a report on Friday, October 30th. Finally, Zacks Research downgraded T. Rowe Price Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 13th. One research analyst has rated the stock with a Buy rating, ten have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, T. Rowe Price Group presently has an average rating of “Reduce” and an average price target of $102.83.

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.