Baillie Gifford & Co. Cuts Stake in T. Rowe Price Group, Inc. $TROW

Baillie Gifford & Co. lowered its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 2.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 494,107 shares of the asset manager’s stock after selling 12,840 shares during the period. Baillie Gifford & Co.’s holdings in T. Rowe Price Group were worth $50,715,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the stock. TFG Advisers LLC grew its stake in T. Rowe Price Group by 3.6% during the second quarter. TFG Advisers LLC now owns 2,779 shares of the asset manager’s stock valued at $268,000 after acquiring an additional 97 shares in the last quarter. TD Waterhouse Canada Inc. lifted its stake in T. Rowe Price Group by 66.7% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 250 shares of the asset manager’s stock worth $25,000 after purchasing an additional 100 shares in the last quarter. Bill Few Associates Inc. boosted its holdings in shares of T. Rowe Price Group by 4.3% during the 2nd quarter. Bill Few Associates Inc. now owns 2,577 shares of the asset manager’s stock valued at $249,000 after purchasing an additional 107 shares during the last quarter. Dakota Wealth Management boosted its holdings in shares of T. Rowe Price Group by 4.7% during the 2nd quarter. Dakota Wealth Management now owns 2,537 shares of the asset manager’s stock valued at $245,000 after purchasing an additional 114 shares during the last quarter. Finally, Beacon Investment Advisors LLC grew its position in shares of T. Rowe Price Group by 1.2% during the second quarter. Beacon Investment Advisors LLC now owns 10,256 shares of the asset manager’s stock valued at $986,000 after purchasing an additional 120 shares in the last quarter. Hedge funds and other institutional investors own 73.39% of the company’s stock.

T. Rowe Price Group Price Performance

NASDAQ:TROW opened at $105.63 on Friday. The firm has a market capitalization of $23.05 billion, a price-to-earnings ratio of 11.51, a PEG ratio of 2.56 and a beta of 1.52. The business has a 50 day simple moving average of $103.93 and a 200-day simple moving average of $104.55. T. Rowe Price Group, Inc. has a 1 year low of $77.85 and a 1 year high of $118.32.

T. Rowe Price Group (NASDAQ:TROW) last released its earnings results on Friday, October 31st. The asset manager reported $2.81 earnings per share for the quarter, beating 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 firm had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.88 billion. During the same quarter in the previous year, the company posted $2.57 EPS. The company’s revenue for the quarter was up 6.0% compared to the same quarter last year. As a group, analysts expect that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 30th. Shareholders of record on Monday, December 15th were given a dividend of $1.27 per share. The ex-dividend date was Monday, December 15th. This represents a $5.08 dividend on an annualized basis and a yield of 4.8%. T. Rowe Price Group’s payout ratio is 55.34%.

Insider Buying and Selling at T. Rowe Price Group

In other news, VP Arif Husain sold 4,260 shares of the firm’s stock in a transaction dated Wednesday, December 10th. The shares were 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 owned 47,102 shares in the company, valued at approximately $4,802,519.92. This trade represents a 8.29% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

TROW has been the topic of a number of research analyst reports. Barclays decreased their target price on T. Rowe Price Group from $102.00 to $101.00 and set an “underweight” rating on the stock in a research report on Thursday, January 15th. Deutsche Bank Aktiengesellschaft reduced their price objective on T. Rowe Price Group from $113.00 to $106.00 and set a “hold” rating on the stock in a research note on Wednesday, December 17th. Keefe, Bruyette & Woods lowered their target price on T. Rowe Price Group from $117.00 to $115.00 and set a “market perform” rating for the company in a research report on Tuesday, December 16th. Morgan Stanley raised their target price on shares of T. Rowe Price Group from $126.00 to $128.00 and gave the company an “equal weight” rating in a report on Wednesday, December 17th. Finally, Jefferies Financial Group boosted their price target on shares of T. Rowe Price Group from $104.00 to $106.00 and gave the stock a “hold” rating in a research report on Tuesday, October 7th. Eleven equities research analysts have rated the stock with a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus price target of $107.31.

About T. Rowe Price Group

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.