Tredje AP fonden cut its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 2.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 22,624 shares of the asset manager’s stock after selling 540 shares during the period. Tredje AP fonden’s holdings in T. Rowe Price Group were worth $2,051,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. Bronfman E.L. Rothschild L.P. boosted its stake in T. Rowe Price Group by 6.9% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 1,593 shares of the asset manager’s stock worth $118,000 after buying an additional 103 shares in the last quarter. Signature Estate & Investment Advisors LLC purchased a new stake in T. Rowe Price Group in the third quarter worth approximately $118,000. Grove Bank & Trust boosted its stake in T. Rowe Price Group by 178.7% in the third quarter. Grove Bank & Trust now owns 1,310 shares of the asset manager’s stock worth $119,000 after buying an additional 840 shares in the last quarter. Quadrant Capital Group LLC boosted its stake in T. Rowe Price Group by 5.4% in the second quarter. Quadrant Capital Group LLC now owns 1,749 shares of the asset manager’s stock worth $121,000 after buying an additional 89 shares in the last quarter. Finally, Sun Life Financial INC boosted its stake in T. Rowe Price Group by 19,500.0% in the second quarter. Sun Life Financial INC now owns 1,764 shares of the asset manager’s stock worth $131,000 after buying an additional 1,755 shares in the last quarter. Hedge funds and other institutional investors own 72.21% of the company’s stock.
Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) opened at $101.64 on Wednesday. T. Rowe Price Group, Inc. has a 12-month low of $65.33 and a 12-month high of $104.40. The company has a market capitalization of $24,914.31, a price-to-earnings ratio of 20.08, a P/E/G ratio of 1.89 and a beta of 1.32.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 28th. Investors of record on Thursday, December 14th will be given a dividend of $0.57 per share. The ex-dividend date is Wednesday, December 13th. This represents a $2.28 annualized dividend and a dividend yield of 2.24%. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 37.38%.
In other T. Rowe Price Group news, CEO William J. Stromberg sold 30,000 shares of the firm’s stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $97.09, for a total value of $2,912,700.00. Following the transaction, the chief executive officer now directly owns 534,077 shares of the company’s stock, valued at $51,853,535.93. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Anne M. Whittemore sold 4,163 shares of the firm’s stock in a transaction dated Friday, September 29th. The stock was sold at an average price of $90.64, for a total value of $377,334.32. Following the completion of the transaction, the director now directly owns 29,070 shares in the company, valued at $2,634,904.80. The disclosure for this sale can be found here. Insiders have sold 81,705 shares of company stock worth $7,861,938 over the last ninety days. 3.60% of the stock is currently owned by insiders.
Several analysts have issued reports on the company. UBS upped their target price on T. Rowe Price Group from $69.00 to $72.00 and gave the stock a “sell” rating in a research note on Friday, October 27th. Morgan Stanley raised T. Rowe Price Group from an “underweight” rating to an “equal” rating and increased their price objective for the company from $77.00 to $93.00 in a research note on Thursday, October 5th. Goldman Sachs Group raised T. Rowe Price Group from a “neutral” rating to a “buy” rating and increased their price objective for the company from $85.00 to $100.00 in a research note on Thursday, September 28th. Zacks Investment Research raised T. Rowe Price Group from a “hold” rating to a “buy” rating and set a $93.00 price objective for the company in a research note on Tuesday, September 12th. Finally, BidaskClub upgraded T. Rowe Price Group from a “buy” rating to a “strong-buy” rating in a report on Monday, August 14th. Three analysts have rated the stock with a sell rating, five have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $89.50.
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T. Rowe Price Group Profile
T. Rowe Price Group, Inc is a financial services holding company. The Company provides global investment management services through its subsidiaries to investors across the world. The Company provides an array of Company sponsored the United States mutual funds, other sponsored pooled investment vehicles, sub advisory services, separate account management, recordkeeping, and related services to individuals, advisors, institutions, financial intermediaries and retirement plan sponsors.
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