Tandem Investment Advisors Inc. reduced its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 5.0% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 83,626 shares of the asset manager’s stock after selling 4,368 shares during the quarter. T. Rowe Price Group accounts for approximately 2.9% of Tandem Investment Advisors Inc.’s holdings, making the stock its 14th largest holding. Tandem Investment Advisors Inc.’s holdings in T. Rowe Price Group were worth $7,581,000 at the end of the most recent reporting period.
Other large investors also recently made changes to their positions in the company. Cleararc Capital Inc. increased its holdings in T. Rowe Price Group by 0.5% during the 1st quarter. Cleararc Capital Inc. now owns 5,944 shares of the asset manager’s stock worth $405,000 after purchasing an additional 31 shares during the last quarter. Sheets Smith Wealth Management boosted its position in T. Rowe Price Group by 0.7% during the 2nd quarter. Sheets Smith Wealth Management now owns 5,292 shares of the asset manager’s stock valued at $393,000 after purchasing an additional 38 shares during the period. Good Life Advisors LLC boosted its position in T. Rowe Price Group by 1.1% during the 2nd quarter. Good Life Advisors LLC now owns 4,650 shares of the asset manager’s stock valued at $359,000 after purchasing an additional 52 shares during the period. GHP Investment Advisors Inc. boosted its position in T. Rowe Price Group by 0.3% during the 2nd quarter. GHP Investment Advisors Inc. now owns 19,549 shares of the asset manager’s stock valued at $1,451,000 after purchasing an additional 53 shares during the period. Finally, Private Trust Co. NA raised its stake in T. Rowe Price Group by 0.8% during the 2nd quarter. Private Trust Co. NA now owns 7,307 shares of the asset manager’s stock valued at $542,000 after acquiring an additional 60 shares in the last quarter. Institutional investors and hedge funds own 73.51% of the company’s stock.
In related news, CFO Kenneth V. Moreland sold 13,041 shares of the business’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $90.43, for a total value of $1,179,297.63. Following the sale, the chief financial officer now owns 135,028 shares of the company’s stock, valued at $12,210,582.04. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Anne M. Whittemore sold 4,163 shares of the business’s stock in a transaction on Friday, September 29th. The stock was sold at an average price of $90.64, for a total transaction of $377,334.32. Following the completion of the sale, the director now directly owns 29,070 shares in the company, valued at approximately $2,634,904.80. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 18,204 shares of company stock worth $1,640,922. Insiders own 3.60% of the company’s stock.
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T. Rowe Price Group, Inc. (NASDAQ TROW) traded down 1.26% during midday trading on Friday, reaching $93.87. The company had a trading volume of 815,656 shares. T. Rowe Price Group, Inc. has a one year low of $62.97 and a one year high of $97.35. The company has a market capitalization of $22.56 billion, a PE ratio of 16.12 and a beta of 1.25. The stock’s 50 day moving average is $89.68 and its 200 day moving average is $79.57.
T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings data on Thursday, October 26th. The asset manager reported $1.56 EPS for the quarter, beating the consensus estimate of $1.36 by $0.20. The business had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.22 billion. T. Rowe Price Group had a net margin of 32.64% and a return on equity of 24.38%. The company’s revenue was up 11.8% on a year-over-year basis. During the same period in the previous year, the business earned $1.17 earnings per share. Equities research analysts forecast that T. Rowe Price Group, Inc. will post $5.86 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 28th. Shareholders of record on Thursday, December 14th will be paid a dividend of $0.57 per share. The ex-dividend date of this dividend is Wednesday, December 13th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.40%. T. Rowe Price Group’s payout ratio is presently 39.18%.
TROW has been the topic of a number of research reports. Barclays PLC started coverage on T. Rowe Price Group in a research note on Friday, September 8th. They issued an “underweight” rating and a $79.00 price objective on the stock. Jefferies Group LLC reaffirmed a “buy” rating and set a $96.00 target price on shares of T. Rowe Price Group in a research report on Sunday, August 20th. Morgan Stanley raised T. Rowe Price Group from an “underweight” rating to an “equal” rating and boosted their target price for the stock from $77.00 to $93.00 in a research report on Thursday, October 5th. Zacks Investment Research raised T. Rowe Price Group from a “hold” rating to a “buy” rating and set a $98.00 target price on the stock in a research report on Tuesday, September 26th. Finally, Goldman Sachs Group, Inc. (The) raised T. Rowe Price Group from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $85.00 to $100.00 in a research report on Thursday, September 28th. Three analysts have rated the stock with a sell rating, five have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. T. Rowe Price Group presently has a consensus rating of “Hold” and an average price target of $88.60.
T. Rowe Price Group Company Profile
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.
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