Cerity Partners LLC Sells 9,650 Shares of T. Rowe Price Group, Inc. $TROW

Cerity Partners LLC decreased its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 6.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 142,051 shares of the asset manager’s stock after selling 9,650 shares during the quarter. Cerity Partners LLC owned approximately 0.06% of T. Rowe Price Group worth $14,580,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Cigna Investments Inc. New bought a new stake in shares of T. Rowe Price Group in the 3rd quarter valued at about $211,000. Hennion & Walsh Asset Management Inc. increased its holdings in T. Rowe Price Group by 2.6% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 14,423 shares of the asset manager’s stock valued at $1,480,000 after buying an additional 371 shares during the period. Gries Financial LLC increased its holdings in T. Rowe Price Group by 45.0% during the third quarter. Gries Financial LLC now owns 20,372 shares of the asset manager’s stock valued at $2,091,000 after buying an additional 6,327 shares during the period. Robeco Institutional Asset Management B.V. raised its stake in T. Rowe Price Group by 38.7% in the third quarter. Robeco Institutional Asset Management B.V. now owns 67,312 shares of the asset manager’s stock worth $6,909,000 after buying an additional 18,764 shares in the last quarter. Finally, Greenspring Advisors LLC purchased a new stake in T. Rowe Price Group during the third quarter worth $1,583,000. 73.39% of the stock is currently owned by institutional investors.

T. Rowe Price Group Stock Down 1.2%

TROW stock opened at $107.31 on Friday. The stock has a market capitalization of $23.42 billion, a PE ratio of 11.69, a price-to-earnings-growth ratio of 2.72 and a beta of 1.52. T. Rowe Price Group, Inc. has a 52 week low of $77.85 and a 52 week high of $118.32. The firm has a 50 day moving average of $103.29 and a 200 day moving average of $104.01.

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

T. Rowe Price Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 30th. Investors of record on Monday, December 15th were paid a $1.27 dividend. The ex-dividend date was Monday, December 15th. This represents a $5.08 dividend on an annualized basis and a yield of 4.7%. T. Rowe Price Group’s dividend payout ratio (DPR) is 55.34%.

Insider Buying and Selling

In other T. Rowe Price Group news, VP Arif Husain sold 4,260 shares of T. Rowe Price Group stock in a transaction dated Wednesday, December 10th. The stock was sold at an average price of $101.96, for a total transaction of $434,349.60. Following the completion of the sale, the vice president owned 47,102 shares of the company’s stock, valued at approximately $4,802,519.92. The trade was a 8.29% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

TROW has been the topic of a number of analyst reports. Keefe, Bruyette & Woods cut their price target on T. Rowe Price Group from $117.00 to $115.00 and set a “market perform” rating on the stock in a report on Tuesday, December 16th. Evercore ISI reduced their target price on shares of T. Rowe Price Group from $118.00 to $115.00 and set an “in-line” rating for the company in a report on Friday, December 5th. TD Cowen increased their price target on shares of T. Rowe Price Group from $108.00 to $112.00 and gave the company a “hold” rating in a research report on Monday, November 3rd. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of T. Rowe Price Group in a research report on Monday, December 29th. Finally, The Goldman Sachs Group reduced their price objective on shares of T. Rowe Price Group from $98.00 to $93.00 and set a “sell” rating for the company in a research note on Tuesday, November 25th. Twelve equities research analysts have rated the stock with a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Reduce” and an average target price of $108.31.

T. Rowe Price Group Company Profile

T. Rowe Price Group, Inc is a global investment management firm headquartered in Baltimore, Maryland, founded by Thomas Rowe Price Jr. in 1937. The company provides a broad range of investment products and services for individual investors, financial intermediaries, retirement plan sponsors and institutional clients. Its offerings are built around active investment management and in-house research across equity, fixed income and multi-asset strategies, reflecting a long history as a research-driven asset manager.

The firm’s product lineup includes mutual funds, separate accounts, collective investment trusts, target-date and target-risk funds, and managed account solutions, as well as services for defined contribution and defined benefit retirement plans.