TFG Advisers LLC Sells 414 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

TFG Advisers LLC reduced its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 14.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,437 shares of the asset manager’s stock after selling 414 shares during the quarter. TFG Advisers LLC’s holdings in T. Rowe Price Group were worth $281,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in TROW. Dimensional Fund Advisors LP raised its holdings in shares of T. Rowe Price Group by 15.8% in the second quarter. Dimensional Fund Advisors LP now owns 1,611,307 shares of the asset manager’s stock valued at $185,810,000 after purchasing an additional 220,105 shares during the last quarter. AQR Capital Management LLC increased its stake in T. Rowe Price Group by 77.2% in the 2nd quarter. AQR Capital Management LLC now owns 451,237 shares of the asset manager’s stock valued at $52,032,000 after buying an additional 196,565 shares during the last quarter. Burney Co. bought a new stake in T. Rowe Price Group during the 2nd quarter worth about $20,938,000. Canada Pension Plan Investment Board boosted its stake in shares of T. Rowe Price Group by 1,328.0% during the 2nd quarter. Canada Pension Plan Investment Board now owns 162,010 shares of the asset manager’s stock worth $18,681,000 after buying an additional 150,665 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC acquired a new position in shares of T. Rowe Price Group during the 2nd quarter worth about $15,907,000. 73.39% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

TROW has been the topic of several analyst reports. JPMorgan Chase & Co. upped their target price on T. Rowe Price Group from $102.00 to $107.00 and gave the stock an “underweight” rating in a report on Tuesday, July 23rd. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $120.00 price objective (down previously from $121.00) on shares of T. Rowe Price Group in a research note on Monday, July 29th. Deutsche Bank Aktiengesellschaft raised their target price on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the company a “hold” rating in a research note on Thursday, August 15th. StockNews.com lowered shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Finally, TD Cowen decreased their price objective on shares of T. Rowe Price Group from $123.00 to $118.00 and set a “hold” rating for the company in a research report on Monday, July 29th. Four equities research analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $113.00.

Insider Buying and Selling at T. Rowe Price Group

In other news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the business’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $102.83, for a total transaction of $1,230,772.27. Following the completion of the transaction, the vice president now owns 123,624 shares of the company’s stock, valued at approximately $12,712,255.92. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 484 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $104.73, for a total value of $50,689.32. Following the sale, the insider now owns 13,939 shares in the company, valued at $1,459,831.47. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the company’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $102.83, for a total transaction of $1,230,772.27. Following the transaction, the vice president now owns 123,624 shares of the company’s stock, valued at $12,712,255.92. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.

T. Rowe Price Group Stock Performance

Shares of NASDAQ TROW opened at $109.53 on Thursday. The stock has a market capitalization of $24.46 billion, a P/E ratio of 13.01, a PEG ratio of 1.93 and a beta of 1.41. The stock’s fifty day moving average is $107.95 and its 200 day moving average is $111.90. T. Rowe Price Group, Inc. has a 52 week low of $87.43 and a 52 week high of $122.27.

T. Rowe Price Group (NASDAQ:TROW) last released its earnings results on Friday, July 26th. The asset manager reported $2.26 EPS for the quarter, missing the consensus estimate of $2.27 by ($0.01). T. Rowe Price Group had a net margin of 28.66% and a return on equity of 19.90%. The firm had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.79 billion. During the same period in the prior year, the business earned $2.02 earnings per share. T. Rowe Price Group’s quarterly revenue was up 7.6% compared to the same quarter last year. Equities research analysts forecast that T. Rowe Price Group, Inc. will post 9.08 earnings per share for the current year.

T. Rowe Price Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were paid a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a yield of 4.53%. The ex-dividend date of this dividend was Friday, September 13th. T. Rowe Price Group’s payout ratio is presently 58.91%.

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.