T. Rowe Price Group, Inc. (NASDAQ:TROW) Stake Lessened by Toroso Investments LLC

Toroso Investments LLC cut its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 4.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,532 shares of the asset manager’s stock after selling 907 shares during the period. Toroso Investments LLC’s holdings in T. Rowe Price Group were worth $2,092,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Fairfield Bush & CO. acquired a new stake in T. Rowe Price Group during the first quarter valued at approximately $150,000. Roundview Capital LLC acquired a new stake in T. Rowe Price Group during the first quarter valued at approximately $2,092,000. Cibc World Market Inc. lifted its stake in T. Rowe Price Group by 75.9% during the first quarter. Cibc World Market Inc. now owns 27,065 shares of the asset manager’s stock valued at $4,092,000 after purchasing an additional 11,675 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in T. Rowe Price Group by 5.5% during the first quarter. Dimensional Fund Advisors LP now owns 1,158,038 shares of the asset manager’s stock valued at $175,099,000 after purchasing an additional 60,580 shares during the last quarter. Finally, Prudential PLC lifted its stake in T. Rowe Price Group by 47.1% during the first quarter. Prudential PLC now owns 12,117 shares of the asset manager’s stock valued at $1,832,000 after purchasing an additional 3,880 shares during the last quarter. 75.85% of the stock is currently owned by institutional investors.

Insider Activity at T. Rowe Price Group

In related news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the firm’s stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $111.82, for a total value of $1,338,373.58. Following the transaction, the vice president now directly owns 129,436 shares in the company, valued at approximately $14,473,533.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.10% of the stock is currently owned by company insiders.

T. Rowe Price Group Stock Down 0.4 %

Shares of TROW opened at $109.63 on Friday. The company’s fifty day moving average is $114.06 and its 200-day moving average is $111.22. T. Rowe Price Group, Inc. has a 12 month low of $93.53 and a 12 month high of $134.64. The firm has a market cap of $24.59 billion, a price-to-earnings ratio of 16.34, a price-to-earnings-growth ratio of 3.30 and a beta of 1.32.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings results on Friday, July 28th. The asset manager reported $2.02 EPS for the quarter, topping the consensus estimate of $1.73 by $0.29. T. Rowe Price Group had a net margin of 24.73% and a return on equity of 18.30%. The company had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.60 billion. During the same quarter in the prior year, the business posted $1.79 EPS. T. Rowe Price Group’s quarterly revenue was up 6.4% on a year-over-year basis. As a group, research analysts predict that T. Rowe Price Group, Inc. will post 7.29 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 28th. Investors of record on Friday, September 15th will be paid a $1.22 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $4.88 dividend on an annualized basis and a yield of 4.45%. T. Rowe Price Group’s payout ratio is presently 72.73%.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. The Goldman Sachs Group upped their price target on shares of T. Rowe Price Group from $89.50 to $100.00 and gave the company a “sell” rating in a research report on Monday, July 31st. Wells Fargo & Company upped their price target on shares of T. Rowe Price Group from $117.00 to $123.00 and gave the company an “equal weight” rating in a research report on Monday, July 31st. StockNews.com assumed coverage on shares of T. Rowe Price Group in a research report on Thursday, August 17th. They issued a “hold” rating for the company. UBS Group upped their price target on shares of T. Rowe Price Group from $83.00 to $90.00 and gave the company a “sell” rating in a research report on Monday, July 31st. Finally, Morgan Stanley upped their price target on shares of T. Rowe Price Group from $108.00 to $118.00 and gave the company an “equal weight” rating in a research report on Monday, July 31st. Six research analysts have rated the stock with a sell rating and six have given a hold rating to the company. According to data from MarketBeat, T. Rowe Price Group has an average rating of “Hold” and an average price target of $96.73.

T. Rowe Price Group 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.