T. Rowe Price Group, Inc. (NASDAQ:TROW) Shares Sold by Prime Capital Investment Advisors LLC

Prime Capital Investment Advisors LLC reduced its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 19.8% during the third quarter, HoldingsChannel reports. The firm owned 3,190 shares of the asset manager’s stock after selling 787 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in T. Rowe Price Group were worth $347,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Iron Horse Wealth Management LLC lifted its stake in shares of T. Rowe Price Group by 90.9% in the third quarter. Iron Horse Wealth Management LLC now owns 231 shares of the asset manager’s stock worth $25,000 after acquiring an additional 110 shares in the last quarter. Lynx Investment Advisory acquired a new position in shares of T. Rowe Price Group in the 2nd quarter valued at approximately $29,000. Hexagon Capital Partners LLC raised its position in shares of T. Rowe Price Group by 54.7% in the 3rd quarter. Hexagon Capital Partners LLC now owns 294 shares of the asset manager’s stock valued at $32,000 after purchasing an additional 104 shares in the last quarter. Family Firm Inc. purchased a new position in shares of T. Rowe Price Group during the 2nd quarter valued at approximately $36,000. Finally, Versant Capital Management Inc grew its position in shares of T. Rowe Price Group by 660.5% during the second quarter. Versant Capital Management Inc now owns 327 shares of the asset manager’s stock worth $38,000 after buying an additional 284 shares in the last quarter. 73.39% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Morgan Stanley boosted their price objective on T. Rowe Price Group from $127.00 to $129.00 and gave the company an “equal weight” rating in a report on Monday, November 4th. Evercore ISI upped their price target on T. Rowe Price Group from $112.00 to $113.00 and gave the company an “in-line” rating in a research report on Thursday, November 7th. Wells Fargo & Company lifted their price objective on shares of T. Rowe Price Group from $109.00 to $112.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 9th. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $120.00 target price (down previously from $121.00) on shares of T. Rowe Price Group in a research note on Monday, July 29th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of T. Rowe Price Group from $115.00 to $120.00 and gave the stock a “hold” rating in a research report on Monday, November 11th. Four equities research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. Based on data from MarketBeat, T. Rowe Price Group presently has a consensus rating of “Hold” and an average price target of $115.55.

Insider Buying and Selling

In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the company’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $102.83, for a total value of $1,230,772.27. Following the completion of the transaction, the vice president now owns 123,624 shares of the company’s stock, valued at $12,712,255.92. This represents a 8.83 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jessica M. Hiebler sold 484 shares of T. Rowe Price Group stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $104.73, for a total value of $50,689.32. Following the sale, the insider now directly owns 13,939 shares in the company, valued at $1,459,831.47. The trade was a 3.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is owned by corporate insiders.

T. Rowe Price Group Trading Down 0.9 %

Shares of NASDAQ:TROW opened at $118.77 on Friday. The firm has a 50 day moving average of $110.77 and a 200-day moving average of $112.16. The stock has a market capitalization of $26.39 billion, a PE ratio of 12.99, a PEG ratio of 1.68 and a beta of 1.41. T. Rowe Price Group, Inc. has a 12 month low of $96.46 and a 12 month high of $122.27.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings data on Friday, November 1st. The asset manager reported $2.57 earnings per share for the quarter, beating the consensus estimate of $2.36 by $0.21. The business had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.84 billion. T. Rowe Price Group had a return on equity of 20.35% and a net margin of 30.35%. T. Rowe Price Group’s revenue was up 6.9% compared to the same quarter last year. During the same period last year, the firm posted $2.17 earnings per share. On average, research analysts predict that T. Rowe Price Group, Inc. will post 9.33 EPS for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be issued a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a dividend yield of 4.18%. The ex-dividend date of this dividend is Friday, December 13th. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 54.27%.

T. Rowe Price Group Company Profile

T. Rowe Price Group, Inc is a publicly owned investment manager. The firm provides its services to individuals, institutional investors, retirement plans, financial intermediaries, and institutions. It launches and manages equity and fixed income mutual funds. The firm invests in the public equity and fixed income markets across the globe.