Cadence Capital Management LLC Sells 627 Shares of T. Rowe Price Group Inc (TROW)

Cadence Capital Management LLC lowered its position in T. Rowe Price Group Inc (NASDAQ:TROW) by 2.1% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 29,329 shares of the asset manager’s stock after selling 627 shares during the quarter. Cadence Capital Management LLC’s holdings in T. Rowe Price Group were worth $3,202,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. Wells Fargo & Company MN lifted its stake in T. Rowe Price Group by 7.1% in the third quarter. Wells Fargo & Company MN now owns 1,584,545 shares of the asset manager’s stock worth $173,000,000 after acquiring an additional 104,997 shares during the last quarter. Marathon Asset Management LLP lifted its position in shares of T. Rowe Price Group by 6.8% during the 3rd quarter. Marathon Asset Management LLP now owns 293,416 shares of the asset manager’s stock worth $32,035,000 after buying an additional 18,771 shares during the last quarter. Creative Financial Designs Inc. ADV lifted its position in shares of T. Rowe Price Group by 47.2% during the 3rd quarter. Creative Financial Designs Inc. ADV now owns 2,965 shares of the asset manager’s stock worth $324,000 after buying an additional 951 shares during the last quarter. Stratos Wealth Partners LTD. lifted its position in shares of T. Rowe Price Group by 41.3% during the 3rd quarter. Stratos Wealth Partners LTD. now owns 7,459 shares of the asset manager’s stock worth $814,000 after buying an additional 2,179 shares during the last quarter. Finally, Tdam USA Inc. lifted its position in shares of T. Rowe Price Group by 21.1% during the 3rd quarter. Tdam USA Inc. now owns 3,046 shares of the asset manager’s stock worth $352,000 after buying an additional 530 shares during the last quarter. Institutional investors own 70.99% of the company’s stock.

Several analysts have recently weighed in on TROW shares. Deutsche Bank downgraded shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Friday, September 7th. UBS Group reduced their price objective on shares of T. Rowe Price Group from $127.00 to $121.00 and set a “neutral” rating for the company in a research report on Monday, October 8th. Morgan Stanley boosted their price objective on shares of T. Rowe Price Group from $116.00 to $118.00 and gave the stock a “hold” rating in a research report on Tuesday, October 9th. BidaskClub downgraded shares of T. Rowe Price Group from a “sell” rating to a “strong sell” rating in a research report on Saturday, September 1st. Finally, Citigroup reduced their price objective on shares of T. Rowe Price Group from $113.00 to $105.00 and set a “hold” rating for the company in a research report on Monday, October 29th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company. T. Rowe Price Group presently has an average rating of “Hold” and an average price target of $114.11.

Shares of NASDAQ:TROW opened at $97.42 on Tuesday. The company has a market cap of $23.33 billion, a PE ratio of 17.94, a P/E/G ratio of 1.11 and a beta of 1.21. T. Rowe Price Group Inc has a twelve month low of $90.95 and a twelve month high of $127.43.

T. Rowe Price Group (NASDAQ:TROW) last announced its earnings results on Thursday, October 25th. The asset manager reported $2.30 EPS for the quarter, beating analysts’ consensus estimates of $1.93 by $0.37. The business had revenue of $1.39 billion for the quarter, compared to analysts’ expectations of $1.38 billion. T. Rowe Price Group had a net margin of 33.98% and a return on equity of 29.52%. During the same period in the previous year, the company posted $1.56 EPS. As a group, research analysts expect that T. Rowe Price Group Inc will post 7.37 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 28th. Stockholders of record on Friday, December 14th will be issued a $0.70 dividend. The ex-dividend date is Thursday, December 13th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.87%. T. Rowe Price Group’s payout ratio is 51.57%.

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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.

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

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