Seizert Capital Partners LLC Decreases Holdings in T. Rowe Price Group, Inc. $TROW

Seizert Capital Partners LLC decreased its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 7.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 125,449 shares of the asset manager’s stock after selling 10,242 shares during the quarter. Seizert Capital Partners LLC owned approximately 0.06% of T. Rowe Price Group worth $12,106,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in T. Rowe Price Group by 0.5% in the 2nd quarter. Vanguard Group Inc. now owns 26,416,718 shares of the asset manager’s stock worth $2,549,213,000 after buying an additional 130,325 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of T. Rowe Price Group by 7.2% in the first quarter. Charles Schwab Investment Management Inc. now owns 7,706,251 shares of the asset manager’s stock worth $707,973,000 after acquiring an additional 519,075 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of T. Rowe Price Group by 3.4% in the second quarter. Geode Capital Management LLC now owns 6,014,236 shares of the asset manager’s stock worth $578,059,000 after acquiring an additional 197,024 shares during the last quarter. Invesco Ltd. increased its position in shares of T. Rowe Price Group by 43.2% during the first quarter. Invesco Ltd. now owns 3,433,684 shares of the asset manager’s stock worth $315,453,000 after purchasing an additional 1,035,865 shares in the last quarter. Finally, American Century Companies Inc. raised its stake in T. Rowe Price Group by 4.9% in the 1st quarter. American Century Companies Inc. now owns 2,955,703 shares of the asset manager’s stock valued at $271,541,000 after purchasing an additional 138,515 shares during the last quarter. Institutional investors and hedge funds own 73.39% of the company’s stock.

T. Rowe Price Group Stock Performance

Shares of T. Rowe Price Group stock opened at $97.48 on Wednesday. The stock has a 50 day moving average of $103.62 and a 200 day moving average of $101.51. The firm has a market capitalization of $21.27 billion, a price-to-earnings ratio of 10.89, a PEG ratio of 5.61 and a beta of 1.51. T. Rowe Price Group, Inc. has a fifty-two week low of $77.85 and a fifty-two week high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings results on Friday, October 31st. The asset manager reported $2.81 EPS for the quarter, beating the consensus estimate of $2.55 by $0.26. The business had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.88 billion. T. Rowe Price Group had a return on equity of 19.77% and a net margin of 28.72%.The company’s quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.57 EPS. Analysts forecast that T. Rowe Price Group, Inc. will post 9.29 EPS for the current year.

T. Rowe Price Group Announces Dividend

The business 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 5.2%. T. Rowe Price Group’s dividend payout ratio is presently 55.34%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on TROW shares. Keefe, Bruyette & Woods raised their price target on shares of T. Rowe Price Group from $115.00 to $117.00 and gave the stock a “market perform” rating in a research note on Monday, November 3rd. Deutsche Bank Aktiengesellschaft upped their price target on T. Rowe Price Group from $112.00 to $113.00 and gave the company a “hold” rating in a research report on Friday, November 14th. Citigroup lifted their price objective on T. Rowe Price Group from $105.00 to $107.00 in a research report on Monday, November 3rd. TD Cowen boosted their price objective on T. Rowe Price Group from $108.00 to $112.00 and gave the stock a “hold” rating in a research note on Monday, November 3rd. Finally, Bank of America raised their target price on T. Rowe Price Group from $91.00 to $97.00 and gave the stock an “underperform” rating in a research note on Thursday, October 2nd. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat, T. Rowe Price Group presently has a consensus rating of “Reduce” and an average target price of $109.38.

Insiders Place Their Bets

In other T. Rowe Price Group news, Director Robert F. Maclellan sold 3,090 shares of T. Rowe Price Group stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $105.01, for a total transaction of $324,480.90. Following the completion of the sale, the director directly owned 47,335 shares in the company, valued at $4,970,648.35. This trade represents a 6.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.60% of the stock is currently owned by company insiders.

T. Rowe Price Group Company 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.