T. Rowe Price Group Inc (TROW) Position Cut by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC cut its position in shares of T. Rowe Price Group Inc (NASDAQ:TROW) by 5.9% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 101,056 shares of the asset manager’s stock after selling 6,373 shares during the quarter. Nisa Investment Advisors LLC’s holdings in T. Rowe Price Group were worth $10,604,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in TROW. Kennedy Capital Management Inc. raised its position in T. Rowe Price Group by 0.8% during the second quarter. Kennedy Capital Management Inc. now owns 54,557 shares of the asset manager’s stock worth $4,049,000 after acquiring an additional 458 shares during the period. Financial Counselors Inc. acquired a new position in T. Rowe Price Group during the second quarter worth $217,000. Riverhead Capital Management LLC raised its position in T. Rowe Price Group by 5.8% during the second quarter. Riverhead Capital Management LLC now owns 4,907 shares of the asset manager’s stock worth $364,000 after acquiring an additional 271 shares during the period. Norinchukin Bank The raised its position in T. Rowe Price Group by 11.4% during the second quarter. Norinchukin Bank The now owns 9,527 shares of the asset manager’s stock worth $707,000 after acquiring an additional 972 shares during the period. Finally, Nationwide Fund Advisors raised its position in T. Rowe Price Group by 22.0% during the second quarter. Nationwide Fund Advisors now owns 141,992 shares of the asset manager’s stock worth $10,537,000 after acquiring an additional 25,566 shares during the period. 72.38% of the stock is currently owned by hedge funds and other institutional investors.

Shares of T. Rowe Price Group Inc (TROW) opened at $115.35 on Friday. The company has a market cap of $27,395.57, a PE ratio of 18.91, a PEG ratio of 1.60 and a beta of 1.32. T. Rowe Price Group Inc has a 12-month low of $65.33 and a 12-month high of $115.62.

T. Rowe Price Group (NASDAQ:TROW) last issued its earnings results on Thursday, October 26th. The asset manager reported $1.56 EPS for the quarter, beating the Zacks’ consensus estimate of $1.36 by $0.20. T. Rowe Price Group had a net margin of 33.10% and a return on equity of 24.76%. The business had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.22 billion. During the same period in the prior year, the business earned $1.17 earnings per share. The company’s quarterly revenue was up 11.8% compared to the same quarter last year. research analysts expect that T. Rowe Price Group Inc will post 5.32 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 28th. Investors of record on Thursday, December 14th were issued a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date of this dividend was Wednesday, December 13th. T. Rowe Price Group’s dividend payout ratio is currently 37.38%.

In related news, CEO William J. Stromberg sold 30,000 shares of the company’s stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $97.09, for a total value of $2,912,700.00. Following the completion of the sale, the chief executive officer now 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 Freeman A. Hrabowski III sold 4,000 shares of the company’s stock in a transaction dated Thursday, December 14th. The shares were sold at an average price of $101.59, for a total transaction of $406,360.00. The disclosure for this sale can be found here. Insiders sold 204,980 shares of company stock valued at $20,776,729 in the last three months. 3.60% of the stock is currently owned by insiders.

A number of equities research analysts have recently commented on the stock. Zacks Investment Research cut shares of T. Rowe Price Group from a “buy” rating to a “hold” rating and set a $115.00 target price for the company. in a research report on Friday, January 5th. UBS Group upgraded shares of T. Rowe Price Group from a “sell” rating to a “neutral” rating and increased their target price for the company from $75.00 to $110.00 in a research report on Tuesday, January 9th. Bank of America upgraded shares of T. Rowe Price Group from a “neutral” rating to a “buy” rating and increased their target price for the company from $113.00 to $125.00 in a research report on Monday, January 8th. Goldman Sachs Group upgraded shares of T. Rowe Price Group from a “neutral” rating to a “buy” rating and increased their target price for the company from $85.00 to $100.00 in a research report on Thursday, September 28th. Finally, Morgan Stanley upgraded shares of T. Rowe Price Group from an “underweight” rating to an “equal” rating and increased their target price for the company from $77.00 to $93.00 in a research report on Thursday, October 5th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $98.70.

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About T. Rowe Price Group

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.

Want to see what other hedge funds are holding TROW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for T. Rowe Price Group Inc (NASDAQ:TROW).

Institutional Ownership by Quarter for T. Rowe Price Group (NASDAQ:TROW)

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