T. Rowe Price Group, Inc. $TROW Shares Sold by QRG Capital Management Inc.

QRG Capital Management Inc. lowered its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 49.9% in the third quarter, Holdings Channel reports. The firm owned 16,791 shares of the asset manager’s stock after selling 16,726 shares during the period. QRG Capital Management Inc.’s holdings in T. Rowe Price Group were worth $1,723,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of TROW. TD Waterhouse Canada Inc. increased its stake in T. Rowe Price Group by 66.7% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 250 shares of the asset manager’s stock worth $25,000 after buying an additional 100 shares in the last quarter. Vermillion & White Wealth Management Group LLC lifted its position in shares of T. Rowe Price Group by 120.0% in the second quarter. Vermillion & White Wealth Management Group LLC now owns 319 shares of the asset manager’s stock valued at $31,000 after acquiring an additional 174 shares in the last quarter. Salomon & Ludwin LLC boosted its stake in shares of T. Rowe Price Group by 84.3% in the third quarter. Salomon & Ludwin LLC now owns 317 shares of the asset manager’s stock worth $33,000 after acquiring an additional 145 shares during the last quarter. Atlantic Union Bankshares Corp purchased a new stake in shares of T. Rowe Price Group during the second quarter worth approximately $35,000. Finally, Quent Capital LLC acquired a new position in T. Rowe Price Group in the 3rd quarter valued at $39,000. Institutional investors and hedge funds own 73.39% of the company’s stock.

T. Rowe Price Group Price Performance

NASDAQ TROW opened at $106.49 on Tuesday. T. Rowe Price Group, Inc. has a 12 month low of $77.85 and a 12 month high of $118.32. The stock has a market capitalization of $23.24 billion, a P/E ratio of 11.60, a PEG ratio of 2.57 and a beta of 1.52. The firm’s 50-day moving average is $103.76 and its two-hundred day moving average is $104.41.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings results on Friday, October 31st. The asset manager reported $2.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.55 by $0.26. The business had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.88 billion. T. Rowe Price Group had a net margin of 28.89% and a return on equity of 19.95%. The business’s revenue was up 6.0% on a year-over-year basis. During the same period in the previous year, the firm earned $2.57 EPS. As a group, analysts anticipate 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 declared a quarterly dividend, which was paid on Tuesday, December 30th. Shareholders of record on Monday, December 15th were paid a dividend of $1.27 per share. This represents a $5.08 dividend on an annualized basis and a yield of 4.8%. The ex-dividend date was Monday, December 15th. T. Rowe Price Group’s dividend payout ratio is 55.34%.

Analyst Upgrades and Downgrades

TROW has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft reduced their target price on shares of T. Rowe Price Group from $113.00 to $106.00 and set a “hold” rating for the company in a research report on Wednesday, December 17th. TD Cowen decreased their target price on shares of T. Rowe Price Group from $112.00 to $109.00 and set a “hold” rating on the stock in a research note on Wednesday, January 14th. JPMorgan Chase & Co. upped their price target on T. Rowe Price Group from $109.00 to $111.00 and gave the company an “underweight” rating in a research report on Monday, November 3rd. BMO Capital Markets lifted their price objective on T. Rowe Price Group from $108.00 to $110.00 and gave the stock a “market perform” rating in a research report on Tuesday, January 13th. Finally, Morgan Stanley boosted their price objective on T. Rowe Price Group from $126.00 to $128.00 and gave the stock an “equal weight” rating in a research note on Wednesday, December 17th. Twelve investment analysts have rated the stock with a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat.com, T. Rowe Price Group presently has a consensus rating of “Reduce” and an average price target of $107.54.

Insider Activity at T. Rowe Price Group

In other news, VP Arif Husain sold 4,260 shares of T. Rowe Price Group stock in a transaction on Wednesday, December 10th. The stock was sold at an average price of $101.96, for a total value of $434,349.60. Following the completion of the sale, the vice president directly owned 47,102 shares of the company’s stock, valued at approximately $4,802,519.92. The trade was a 8.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.60% of the stock is currently owned by corporate insiders.

T. Rowe Price Group 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.