DF Dent & Co. Inc. Cuts Position in T. Rowe Price Group, Inc. (TROW)

DF Dent & Co. Inc. reduced its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 6.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 142,264 shares of the asset manager’s stock after selling 9,456 shares during the period. DF Dent & Co. Inc. owned 0.06% of T. Rowe Price Group worth $12,896,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Bronfman E.L. Rothschild L.P. raised its holdings in T. Rowe Price Group by 6.9% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 1,593 shares of the asset manager’s stock valued at $118,000 after acquiring an additional 103 shares during the last quarter. Signature Estate & Investment Advisors LLC acquired a new position in T. Rowe Price Group in the 3rd quarter valued at $118,000. Grove Bank & Trust raised its holdings in T. Rowe Price Group by 178.7% in the 3rd quarter. Grove Bank & Trust now owns 1,310 shares of the asset manager’s stock valued at $119,000 after acquiring an additional 840 shares during the last quarter. Quadrant Capital Group LLC raised its holdings in T. Rowe Price Group by 5.4% in the 2nd quarter. Quadrant Capital Group LLC now owns 1,749 shares of the asset manager’s stock valued at $121,000 after acquiring an additional 89 shares during the last quarter. Finally, Sun Life Financial INC raised its holdings in T. Rowe Price Group by 19,500.0% in the 2nd quarter. Sun Life Financial INC now owns 1,764 shares of the asset manager’s stock valued at $131,000 after acquiring an additional 1,755 shares during the last quarter. Institutional investors own 72.21% of the company’s stock.

Shares of T. Rowe Price Group, Inc. (NASDAQ TROW) opened at $101.85 on Tuesday. The company has a market capitalization of $24,897.35, a price-to-earnings ratio of 20.07, a PEG ratio of 1.89 and a beta of 1.32. T. Rowe Price Group, Inc. has a twelve month low of $65.33 and a twelve month high of $104.40.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings data on Thursday, October 26th. The asset manager reported $1.56 EPS for the quarter, topping analysts’ consensus estimates 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 return on equity of 24.76% and a net margin of 33.10%. The business’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.17 EPS. research analysts forecast that T. Rowe Price Group, Inc. will post 5.29 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 28th. Stockholders 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 dividend yield of 2.24%. T. Rowe Price Group’s payout ratio is 37.38%.

In related news, VP W. Sharps Robert sold 5,000 shares of the company’s stock in a transaction on Monday, November 27th. The shares were sold at an average price of $98.64, for a total transaction of $493,200.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William J. Stromberg sold 30,000 shares of the company’s stock in a transaction on Wednesday, November 22nd. The stock was sold at an average price of $97.09, for a total transaction of $2,912,700.00. Following the sale, the chief executive officer now directly owns 534,077 shares of the company’s stock, valued at $51,853,535.93. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 81,705 shares of company stock valued at $7,861,938. Insiders own 3.60% of the company’s stock.

Several research analysts have weighed in on TROW shares. Barclays started coverage on T. Rowe Price Group in a report on Friday, September 8th. They issued an “underweight” rating and a $79.00 price target for the company. Jefferies Group reiterated a “buy” rating and issued a $96.00 price target on shares of T. Rowe Price Group in a report on Sunday, August 20th. Morgan Stanley upgraded T. Rowe Price Group from an “underweight” rating to an “equal” rating and boosted their price target for the company from $77.00 to $93.00 in a report on Thursday, October 5th. Zacks Investment Research upgraded T. Rowe Price Group from a “hold” rating to a “buy” rating and set a $98.00 price target for the company in a report on Tuesday, September 26th. Finally, Goldman Sachs Group upgraded T. Rowe Price Group from a “neutral” rating to a “buy” rating and boosted their price target for the company from $85.00 to $100.00 in a report on Thursday, September 28th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. T. Rowe Price Group has a consensus rating of “Hold” and an average price target of $89.67.

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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.

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

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