L. Roy Papp & Associates LLP Sells 35,004 Shares of T. Rowe Price Group, Inc. $TROW

L. Roy Papp & Associates LLP lowered its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 27.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 90,822 shares of the asset manager’s stock after selling 35,004 shares during the quarter. T. Rowe Price Group comprises 1.0% of L. Roy Papp & Associates LLP’s portfolio, making the stock its 27th largest position. L. Roy Papp & Associates LLP’s holdings in T. Rowe Price Group were worth $9,322,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Toth Financial Advisory Corp lifted its stake in shares of T. Rowe Price Group by 2.6% in the 3rd quarter. Toth Financial Advisory Corp now owns 47,503 shares of the asset manager’s stock valued at $4,876,000 after purchasing an additional 1,198 shares during the period. U.S. Capital Wealth Advisors LLC grew its stake in T. Rowe Price Group by 14.1% in the third quarter. U.S. Capital Wealth Advisors LLC now owns 10,746 shares of the asset manager’s stock worth $1,103,000 after purchasing an additional 1,327 shares during the period. Wedmont Private Capital raised its holdings in T. Rowe Price Group by 6.1% in the third quarter. Wedmont Private Capital now owns 2,366 shares of the asset manager’s stock worth $250,000 after purchasing an additional 137 shares in the last quarter. Czech National Bank lifted its position in T. Rowe Price Group by 3.6% during the third quarter. Czech National Bank now owns 55,804 shares of the asset manager’s stock valued at $5,728,000 after buying an additional 1,951 shares during the period. Finally, Wynn Capital LLC boosted its holdings in shares of T. Rowe Price Group by 2.7% during the 3rd quarter. Wynn Capital LLC now owns 5,241 shares of the asset manager’s stock valued at $538,000 after buying an additional 136 shares in the last quarter. 73.39% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Bank of America lifted their price target on shares of T. Rowe Price Group from $91.00 to $97.00 and gave the company an “underperform” rating in a research report on Thursday, October 2nd. JPMorgan Chase & Co. raised their target price on shares of 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. Citigroup boosted their price target on T. Rowe Price Group from $105.00 to $107.00 in a research report on Monday, November 3rd. Morgan Stanley upped their price target on T. Rowe Price Group from $126.00 to $128.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Finally, The Goldman Sachs Group lowered their price objective on T. Rowe Price Group from $98.00 to $93.00 and set a “sell” rating for the company in a research note on Tuesday, November 25th. Twelve research analysts have rated the stock with a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus target price of $108.31.

T. Rowe Price Group Stock Down 0.0%

Shares of NASDAQ TROW opened at $103.28 on Friday. The firm has a market cap of $22.54 billion, a P/E ratio of 11.25, a PEG ratio of 3.40 and a beta of 1.53. T. Rowe Price Group, Inc. has a twelve month low of $77.85 and a twelve month high of $118.32. The company has a 50 day moving average of $102.95 and a 200 day moving average of $102.74.

T. Rowe Price Group (NASDAQ:TROW) last posted its earnings results on Friday, October 31st. The asset manager reported $2.81 EPS for the quarter, topping analysts’ consensus estimates of $2.55 by $0.26. T. Rowe Price Group had a return on equity of 19.95% and a net margin of 28.89%.The business had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.88 billion. During the same quarter last year, the company earned $2.57 EPS. The company’s quarterly revenue was up 6.0% compared to the same quarter last year. As a group, equities analysts expect that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

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

Insider Activity

In other news, VP Arif Husain sold 4,260 shares of the business’s stock in a transaction that occurred on Wednesday, December 10th. The shares were sold at an average price of $101.96, for a total transaction of $434,349.60. Following the completion of the transaction, the vice president directly owned 47,102 shares of the company’s stock, valued at $4,802,519.92. The trade was a 8.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert F. Maclellan sold 3,090 shares of the firm’s stock in a transaction that occurred on 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 owned 47,335 shares in the company, valued at $4,970,648.35. This represents a 6.13% decrease in their position. The SEC filing for this sale provides additional information. 2.00% 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 by Thomas Rowe Price Jr. in 1937. The company provides a broad range of investment products and services for individual investors, financial intermediaries, retirement plan sponsors and institutional clients. Its offerings are built around active investment management and in-house research across equity, fixed income and multi-asset strategies, reflecting a long history as a research-driven asset manager.

The firm’s product lineup includes mutual funds, separate accounts, collective investment trusts, target-date and target-risk funds, and managed account solutions, as well as services for defined contribution and defined benefit retirement plans.