Sumitomo Mitsui Trust Holdings Inc. Sells 13,582 Shares of T. Rowe Price Group, Inc. (TROW)

Sumitomo Mitsui Trust Holdings Inc. reduced its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 1.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 693,570 shares of the asset manager’s stock after selling 13,582 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.29% of T. Rowe Price Group worth $62,872,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. GenTrust LLC lifted its stake in T. Rowe Price Group by 1.0% during the third quarter. GenTrust LLC now owns 140,292 shares of the asset manager’s stock worth $12,717,000 after purchasing an additional 1,401 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its stake in T. Rowe Price Group by 6.5% during the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 62,136 shares of the asset manager’s stock worth $5,633,000 after purchasing an additional 3,769 shares during the last quarter. Signature Estate & Investment Advisors LLC bought a new stake in T. Rowe Price Group during the third quarter worth $118,000. HighPoint Advisor Group LLC lifted its stake in T. Rowe Price Group by 172.4% during the third quarter. HighPoint Advisor Group LLC now owns 15,264 shares of the asset manager’s stock worth $1,444,000 after purchasing an additional 9,661 shares during the last quarter. Finally, Comerica Bank lifted its stake in T. Rowe Price Group by 11.0% during the third quarter. Comerica Bank now owns 67,367 shares of the asset manager’s stock worth $6,226,000 after purchasing an additional 6,695 shares during the last quarter. Institutional investors and hedge funds own 72.21% of the company’s stock.

TROW has been the subject of several recent analyst reports. Jefferies Group restated a “buy” rating and set a $104.00 target price (up from $96.00) on shares of T. Rowe Price Group in a research note on Tuesday, October 10th. Citigroup upped their price target on shares of T. Rowe Price Group from $94.00 to $95.00 and gave the stock a “neutral” rating in a report on Friday, October 27th. UBS upped their price target on shares of T. Rowe Price Group from $69.00 to $72.00 and gave the stock a “sell” rating in a report on Friday, October 27th. Barclays upped their price target on shares of T. Rowe Price Group from $79.00 to $84.00 and gave the stock an “underweight” rating in a report on Friday, October 27th. Finally, Morgan Stanley upgraded shares of T. Rowe Price Group from an “underweight” rating to an “equal” rating and upped their price target for the stock from $77.00 to $93.00 in a report on Thursday, October 5th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Hold” and an average price target of $89.50.

T. Rowe Price Group, Inc. (NASDAQ:TROW) traded up $0.03 during midday trading on Monday, reaching $102.82. The company had a trading volume of 2,102,437 shares, compared to its average volume of 1,670,282. The firm has a market capitalization of $24,907.04, a P/E ratio of 20.08, a price-to-earnings-growth ratio of 1.89 and a beta of 1.32. T. Rowe Price Group, Inc. has a 1-year low of $65.33 and a 1-year high of $103.85.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings data on Thursday, October 26th. The asset manager reported $1.56 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.36 by $0.20. T. Rowe Price Group had a return on equity of 24.76% and a net margin of 33.10%. The business had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.22 billion. During the same period in the prior year, the business posted $1.17 earnings per share. T. Rowe Price Group’s quarterly revenue was up 11.8% on a year-over-year basis. research analysts forecast that T. Rowe Price Group, Inc. will post 5.29 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 28th. Shareholders of record on Thursday, December 14th will be issued a dividend of $0.57 per share. The ex-dividend date is Wednesday, December 13th. This represents a $2.28 dividend on an annualized basis and a yield of 2.22%. T. Rowe Price Group’s payout ratio is currently 37.38%.

In other T. Rowe Price Group news, VP W. Sharps Robert sold 5,000 shares of the stock in a transaction dated Monday, November 27th. The stock was sold at an average price of $98.64, for a total transaction of $493,200.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Anne M. Whittemore sold 4,163 shares of the stock in a transaction dated Friday, September 29th. The stock was sold at an average price of $90.64, for a total transaction of $377,334.32. Following the transaction, 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. Over the last quarter, insiders have sold 81,705 shares of company stock valued at $7,861,938. Company insiders own 3.60% of the company’s stock.

COPYRIGHT VIOLATION NOTICE: “Sumitomo Mitsui Trust Holdings Inc. Sells 13,582 Shares of T. Rowe Price Group, Inc. (TROW)” was originally published by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are reading this news story on another publication, it was copied illegally and republished in violation of international trademark & copyright legislation. The legal version of this news story can be viewed at https://www.dispatchtribunal.com/2017/12/04/sumitomo-mitsui-trust-holdings-inc-has-62-87-million-position-in-t-rowe-price-group-inc-trow.html.

About T. Rowe Price Group

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.

Institutional Ownership by Quarter for T. Rowe Price Group (NASDAQ:TROW)

Receive News & Ratings for T. Rowe Price Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for T. Rowe Price Group Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply