Axa S.A. Decreases Holdings in T. Rowe Price Group, Inc. $TROW

Axa S.A. lowered its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 2.5% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 294,180 shares of the asset manager’s stock after selling 7,685 shares during the period. Axa S.A. owned approximately 0.13% of T. Rowe Price Group worth $28,388,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. XTX Topco Ltd acquired a new stake in shares of T. Rowe Price Group in the first quarter worth approximately $258,000. Chicago Partners Investment Group LLC increased its holdings in T. Rowe Price Group by 7.5% in the 1st quarter. Chicago Partners Investment Group LLC now owns 2,310 shares of the asset manager’s stock valued at $211,000 after purchasing an additional 161 shares in the last quarter. Townsquare Capital LLC raised its position in T. Rowe Price Group by 8.0% in the first quarter. Townsquare Capital LLC now owns 12,969 shares of the asset manager’s stock valued at $1,191,000 after purchasing an additional 966 shares during the period. Zions Bancorporation National Association UT acquired a new position in shares of T. Rowe Price Group during the first quarter worth about $27,000. Finally, Invesco Ltd. boosted its position in shares of T. Rowe Price Group by 43.2% in the first quarter. Invesco Ltd. now owns 3,433,684 shares of the asset manager’s stock worth $315,453,000 after buying an additional 1,035,865 shares during the period. Institutional investors and hedge funds own 73.39% of the company’s stock.

T. Rowe Price Group Stock Up 0.8%

Shares of T. Rowe Price Group stock opened at $105.37 on Wednesday. The business has a 50-day moving average price of $102.93 and a 200 day moving average price of $102.29. T. Rowe Price Group, Inc. has a fifty-two week low of $77.85 and a fifty-two week high of $124.33. The firm has a market cap of $23.00 billion, a P/E ratio of 11.48, a P/E/G ratio of 3.45 and a beta of 1.53.

T. Rowe Price Group (NASDAQ:TROW) last released its earnings results on Friday, October 31st. The asset manager reported $2.81 EPS for the quarter, topping analysts’ consensus estimates of $2.55 by $0.26. T. Rowe Price Group had a return on equity of 19.95% and a net margin of 28.89%.The company had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.88 billion. During the same quarter last year, the business posted $2.57 EPS. T. Rowe Price Group’s quarterly revenue was up 6.0% compared to the same quarter last year. As a group, equities research analysts anticipate that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Monday, December 15th will be paid a dividend of $1.27 per share. The ex-dividend date is Monday, December 15th. This represents a $5.08 annualized dividend and a yield of 4.8%. T. Rowe Price Group’s payout ratio is presently 55.34%.

Insider Buying and Selling at T. Rowe Price Group

In related news, Director Robert F. Maclellan sold 3,090 shares of the business’s stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $105.01, for a total transaction of $324,480.90. Following the completion of the sale, the director owned 47,335 shares of the company’s stock, valued at $4,970,648.35. This represents a 6.13% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Keefe, Bruyette & Woods upped their price target on T. Rowe Price Group from $115.00 to $117.00 and gave the stock a “market perform” rating in a report on Monday, November 3rd. Zacks Research upgraded shares of T. Rowe Price Group from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 10th. BMO Capital Markets initiated coverage on shares of T. Rowe Price Group in a research note on Friday, October 3rd. They set a “market perform” rating and a $108.00 price target on the stock. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the stock a “hold” rating in a report on Friday, November 14th. Finally, Evercore ISI lowered their target price on T. Rowe Price Group from $118.00 to $115.00 and set an “in-line” rating for the company in a research note on Friday, December 5th. One 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus target price of $108.77.

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.