Baillie Gifford & Co. Sells 12,840 Shares of T. Rowe Price Group, Inc. $TROW

Baillie Gifford & Co. decreased its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 2.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 494,107 shares of the asset manager’s stock after selling 12,840 shares during the quarter. Baillie Gifford & Co. owned about 0.22% of T. Rowe Price Group worth $50,715,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of T. Rowe Price Group by 0.5% in the 2nd quarter. Vanguard Group Inc. now owns 26,416,718 shares of the asset manager’s stock worth $2,549,213,000 after purchasing an additional 130,325 shares during the last quarter. State Street Corp increased its stake in T. Rowe Price Group by 1.5% during the 2nd quarter. State Street Corp now owns 14,510,271 shares of the asset manager’s stock valued at $1,400,241,000 after purchasing an additional 211,647 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in T. Rowe Price Group by 1.8% in the second quarter. Charles Schwab Investment Management Inc. now owns 7,846,636 shares of the asset manager’s stock worth $757,200,000 after buying an additional 140,385 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of T. Rowe Price Group by 3.4% in the second quarter. Geode Capital Management LLC now owns 6,014,236 shares of the asset manager’s stock worth $578,059,000 after buying an additional 197,024 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in shares of T. Rowe Price Group by 0.3% during the second quarter. Invesco Ltd. now owns 3,444,720 shares of the asset manager’s stock valued at $332,415,000 after buying an additional 11,036 shares during the last quarter. 73.39% of the stock is owned by hedge funds and other institutional investors.

T. Rowe Price Group Price Performance

Shares of NASDAQ TROW opened at $105.63 on Friday. The stock has a market cap of $23.05 billion, a PE ratio of 11.51, a price-to-earnings-growth ratio of 2.56 and a beta of 1.52. T. Rowe Price Group, Inc. has a 1 year low of $77.85 and a 1 year high of $118.32. The firm has a fifty day moving average price of $103.93 and a 200-day moving average price of $104.55.

T. Rowe Price Group (NASDAQ:TROW) last released its earnings results 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. The company had revenue of $1.89 billion for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.57 EPS. On average, research analysts expect that T. Rowe Price Group, Inc. will post 9.29 EPS for the current year.

T. Rowe Price Group Announces Dividend

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

Insider Buying and Selling at T. Rowe Price Group

In other news, VP Arif Husain sold 4,260 shares of the company’s stock in a transaction dated Wednesday, December 10th. The stock was sold at an average price of $101.96, for a total value of $434,349.60. Following the completion of the transaction, the vice president owned 47,102 shares of the company’s stock, valued at $4,802,519.92. This represents a 8.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 2.00% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

TROW has been the subject of a number of recent analyst reports. Morgan Stanley boosted their price objective on shares of T. Rowe Price Group from $126.00 to $128.00 and gave the stock an “equal weight” rating in a report on Wednesday, December 17th. Barclays decreased their price target on T. Rowe Price Group from $102.00 to $101.00 and set an “underweight” rating for the company in a research note on Thursday, January 15th. Keefe, Bruyette & Woods dropped their price objective on T. Rowe Price Group from $117.00 to $115.00 and set a “market perform” rating on the stock in a research report on Tuesday, December 16th. Deutsche Bank Aktiengesellschaft decreased their target price on T. Rowe Price Group from $113.00 to $106.00 and set a “hold” rating for the company in a research report on Wednesday, December 17th. Finally, Zacks Research cut shares of T. Rowe Price Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 9th. Eleven research analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat, T. Rowe Price Group currently has a consensus rating of “Reduce” and a consensus price target of $107.31.

T. Rowe Price Group 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.