Campbell & CO Investment Adviser LLC Sells 43,888 Shares of T. Rowe Price Group, Inc. $TROW

Campbell & CO Investment Adviser LLC lowered its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 94.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,635 shares of the asset manager’s stock after selling 43,888 shares during the quarter. Campbell & CO Investment Adviser LLC’s holdings in T. Rowe Price Group were worth $254,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. TFG Advisers LLC boosted its position in T. Rowe Price Group by 3.6% in the second quarter. TFG Advisers LLC now owns 2,779 shares of the asset manager’s stock worth $268,000 after purchasing an additional 97 shares during the last quarter. Bill Few Associates Inc. lifted its stake in shares of T. Rowe Price Group by 4.3% in the 2nd quarter. Bill Few Associates Inc. now owns 2,577 shares of the asset manager’s stock worth $249,000 after purchasing an additional 107 shares during the period. Cooper Financial Group boosted its holdings in shares of T. Rowe Price Group by 5.2% in the first quarter. Cooper Financial Group now owns 2,234 shares of the asset manager’s stock worth $205,000 after buying an additional 110 shares during the last quarter. Associated Banc Corp grew its position in T. Rowe Price Group by 0.5% during the first quarter. Associated Banc Corp now owns 24,864 shares of the asset manager’s stock valued at $2,284,000 after buying an additional 114 shares during the period. Finally, Dakota Wealth Management increased its holdings in T. Rowe Price Group by 4.7% during the second quarter. Dakota Wealth Management now owns 2,537 shares of the asset manager’s stock valued at $245,000 after buying an additional 114 shares during the last quarter. 73.39% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently weighed in on TROW. The Goldman Sachs Group lifted their price target on shares of T. Rowe Price Group from $93.00 to $98.00 in a research note on Monday, November 3rd. Morgan Stanley lifted their target price on T. Rowe Price Group from $125.00 to $126.00 and gave the company an “equal weight” rating in a research report on Monday, October 27th. Citigroup upped their price target on T. Rowe Price Group from $105.00 to $107.00 in a research report on Monday, November 3rd. Barclays set a $101.00 price objective on T. Rowe Price Group in a research note on Monday, November 3rd. Finally, JPMorgan Chase & Co. raised their target price on shares of T. Rowe Price Group from $109.00 to $111.00 and gave the stock an “underweight” rating in a research note on Monday, November 3rd. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Reduce” and a consensus target price of $109.38.

T. Rowe Price Group Stock Performance

Shares of NASDAQ TROW opened at $97.42 on Tuesday. The company has a market cap of $21.26 billion, a P/E ratio of 10.88, a P/E/G ratio of 5.61 and a beta of 1.51. T. Rowe Price Group, Inc. has a 52-week low of $77.85 and a 52-week high of $125.81. The firm’s fifty day moving average is $103.81 and its two-hundred day moving average is $101.47.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings data on Friday, October 31st. The asset manager reported $2.81 earnings per share for the quarter, beating analysts’ consensus estimates of $2.55 by $0.26. T. Rowe Price Group had a return on equity of 19.77% and a net margin of 28.72%.The firm had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.88 billion. During the same quarter last year, the business posted $2.57 earnings per share. The business’s quarterly revenue was up 6.0% compared to the same quarter last year. As a group, analysts forecast that T. Rowe Price Group, Inc. will post 9.29 EPS for the current fiscal year.

T. Rowe Price Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Monday, December 15th will be paid a $1.27 dividend. The ex-dividend date of this dividend is Monday, December 15th. This represents a $5.08 dividend on an annualized basis and a yield of 5.2%. T. Rowe Price Group’s payout ratio is presently 55.34%.

Insider Activity

In other news, Director Robert F. Maclellan sold 3,090 shares of the stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $105.01, for a total transaction of $324,480.90. Following the completion of the transaction, the director directly owned 47,335 shares in the company, valued at approximately $4,970,648.35. This represents a 6.13% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.00% of the stock is owned by company insiders.

About T. Rowe Price Group

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.