Fort Washington Investment Advisors Inc. OH Sells 21,547 Shares of T. Rowe Price Group, Inc. $TROW

Fort Washington Investment Advisors Inc. OH lessened its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 7.0% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 286,238 shares of the asset manager’s stock after selling 21,547 shares during the period. Fort Washington Investment Advisors Inc. OH’s holdings in T. Rowe Price Group were worth $29,379,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of TROW. First Trust Advisors LP increased its stake in shares of T. Rowe Price Group by 137.7% in the second quarter. First Trust Advisors LP now owns 3,441,458 shares of the asset manager’s stock worth $332,101,000 after purchasing an additional 1,993,920 shares during the period. Norges Bank acquired a new stake in T. Rowe Price Group in the 2nd quarter valued at approximately $82,756,000. ARGA Investment Management LP grew its holdings in T. Rowe Price Group by 3,807.3% in the 2nd quarter. ARGA Investment Management LP now owns 477,161 shares of the asset manager’s stock valued at $46,046,000 after buying an additional 464,949 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in T. Rowe Price Group in the 2nd quarter worth approximately $37,722,000. Finally, ProShare Advisors LLC boosted its position in shares of T. Rowe Price Group by 21.7% in the second quarter. ProShare Advisors LLC now owns 1,887,935 shares of the asset manager’s stock valued at $182,186,000 after acquiring an additional 337,112 shares during the period. Institutional investors and hedge funds own 73.39% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on TROW shares. The Goldman Sachs Group dropped their target price on shares of T. Rowe Price Group from $98.00 to $93.00 and set a “sell” rating on the stock in a research report on Tuesday, November 25th. Keefe, Bruyette & Woods dropped their price objective on shares of T. Rowe Price Group from $117.00 to $115.00 and set a “market perform” rating on the stock in a report on Tuesday, December 16th. Bank of America upped their price objective on shares of T. Rowe Price Group from $91.00 to $97.00 and gave the company an “underperform” rating in a research report on Thursday, October 2nd. JPMorgan Chase & Co. lifted their target price on T. Rowe Price Group from $109.00 to $111.00 and gave the stock an “underweight” rating in a research report on Monday, November 3rd. Finally, Citigroup boosted their price target on T. Rowe Price Group from $105.00 to $107.00 in a research note on Monday, November 3rd. Twelve analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average price target of $108.31.

T. Rowe Price Group Trading Down 0.9%

TROW stock opened at $103.64 on Wednesday. T. Rowe Price Group, Inc. has a 1-year low of $77.85 and a 1-year high of $118.32. The firm has a market cap of $22.62 billion, a P/E ratio of 11.29, a P/E/G ratio of 2.83 and a beta of 1.53. The business’s 50 day moving average is $102.89 and its 200-day moving average is $103.36.

T. Rowe Price Group (NASDAQ:TROW) last posted its earnings results on Friday, October 31st. The asset manager reported $2.81 EPS for the quarter, topping the consensus estimate of $2.55 by $0.26. T. Rowe Price Group had a return on equity of 19.95% and a net margin of 28.89%.The business had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.88 billion. During the same quarter last year, the company earned $2.57 EPS. T. Rowe Price Group’s revenue was up 6.0% on a year-over-year basis. Sell-side analysts forecast that T. Rowe Price Group, Inc. will post 9.29 EPS for the current year.

T. Rowe Price Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 30th. Stockholders of record on Monday, December 15th were paid a $1.27 dividend. This represents a $5.08 annualized dividend and a dividend yield of 4.9%. The ex-dividend date was Monday, December 15th. T. Rowe Price Group’s payout ratio is currently 55.34%.

Insider Buying and Selling at T. Rowe Price Group

In related news, VP Arif Husain sold 4,260 shares of the stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $101.96, for a total transaction of $434,349.60. Following the completion of the sale, the vice president owned 47,102 shares in the company, valued at $4,802,519.92. This trade represents a 8.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 1.60% of the company’s stock.

T. Rowe Price Group Company Profile

T. Rowe Price Group, Inc is a global investment management firm headquartered in Baltimore, Maryland, founded by Thomas Rowe Price Jr. in 1937. The company provides a broad range of investment products and services for individual investors, financial intermediaries, retirement plan sponsors and institutional clients. Its offerings are built around active investment management and in-house research across equity, fixed income and multi-asset strategies, reflecting a long history as a research-driven asset manager.

The firm’s product lineup includes mutual funds, separate accounts, collective investment trusts, target-date and target-risk funds, and managed account solutions, as well as services for defined contribution and defined benefit retirement plans.