T. Rowe Price Group, Inc. $TROW Shares Sold by USS Investment Management Ltd

USS Investment Management Ltd decreased its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 32.0% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 38,828 shares of the asset manager’s stock after selling 18,246 shares during the period. USS Investment Management Ltd’s holdings in T. Rowe Price Group were worth $3,566,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Zions Bancorporation National Association UT acquired a new stake in shares of T. Rowe Price Group in the first quarter valued at $27,000. Hexagon Capital Partners LLC lifted its holdings in shares of T. Rowe Price Group by 44.8% during the first quarter. Hexagon Capital Partners LLC now owns 365 shares of the asset manager’s stock valued at $34,000 after purchasing an additional 113 shares during the last quarter. Smallwood Wealth Investment Management LLC purchased a new stake in shares of T. Rowe Price Group during the first quarter valued at $39,000. Chilton Capital Management LLC purchased a new stake in shares of T. Rowe Price Group during the first quarter valued at $41,000. Finally, Ameriflex Group Inc. purchased a new stake in shares of T. Rowe Price Group during the fourth quarter valued at $42,000. Institutional investors and hedge funds own 73.39% of the company’s stock.

T. Rowe Price Group Trading Up 0.0%

NASDAQ:TROW opened at $108.17 on Tuesday. The firm has a market capitalization of $23.77 billion, a price-to-earnings ratio of 12.09, a PEG ratio of 2.82 and a beta of 1.51. T. Rowe Price Group, Inc. has a 1-year low of $77.85 and a 1-year high of $125.81. The business’s fifty day moving average price is $105.17 and its 200 day moving average price is $97.41.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings results on Friday, August 1st. The asset manager reported $2.24 earnings per share for the quarter, beating the consensus estimate of $2.15 by $0.09. The firm had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.72 billion. T. Rowe Price Group had a return on equity of 19.77% and a net margin of 28.72%.T. Rowe Price Group’s quarterly revenue was down .6% on a year-over-year basis. During the same period in the previous year, the firm earned $2.26 earnings per share. Equities analysts forecast that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current year.

T. Rowe Price Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Monday, September 15th will be given a dividend of $1.27 per share. This represents a $5.08 annualized dividend and a yield of 4.7%. The ex-dividend date of this dividend is Monday, September 15th. T. Rowe Price Group’s payout ratio is presently 56.76%.

Insiders Place Their Bets

In other T. Rowe Price Group news, VP Dorothy C. Sawyer sold 2,000 shares of the company’s stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $95.43, for a total value of $190,860.00. Following the transaction, the vice president directly owned 44,789 shares of the company’s stock, valued at $4,274,214.27. This represents a 4.27% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 1.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on TROW. Morgan Stanley upped their target price on T. Rowe Price Group from $112.00 to $116.00 and gave the company an “equal weight” rating in a report on Monday, August 4th. Wells Fargo & Company upped their target price on T. Rowe Price Group from $98.00 to $108.00 and gave the company an “equal weight” rating in a report on Friday, July 11th. Evercore ISI reaffirmed a “positive” rating on shares of T. Rowe Price Group in a report on Friday. Keefe, Bruyette & Woods upped their target price on T. Rowe Price Group from $110.00 to $112.00 and gave the company a “market perform” rating in a report on Monday, August 4th. Finally, Barclays reaffirmed an “underweight” rating and set a $95.00 target price (up from $91.00) on shares of T. Rowe Price Group in a report on Monday, August 4th. One research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat.com, T. Rowe Price Group currently has a consensus rating of “Reduce” and a consensus target price of $101.55.

About T. Rowe Price Group

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.