Ameritas Investment Partners Inc. Has $932,000 Stock Holdings in T. Rowe Price Group, Inc. $TROW

Ameritas Investment Partners Inc. cut its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 42.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 9,084 shares of the asset manager’s stock after selling 6,682 shares during the period. Ameritas Investment Partners Inc.’s holdings in T. Rowe Price Group were worth $932,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Koshinski Asset Management Inc. bought a new position in shares of T. Rowe Price Group in the 3rd quarter valued at about $208,000. Personal CFO Solutions LLC grew its stake in T. Rowe Price Group by 7.5% in the 3rd quarter. Personal CFO Solutions LLC now owns 3,214 shares of the asset manager’s stock valued at $330,000 after buying an additional 225 shares during the last quarter. Tredje AP fonden lifted its holdings in T. Rowe Price Group by 22.9% during the 3rd quarter. Tredje AP fonden now owns 24,592 shares of the asset manager’s stock worth $2,524,000 after purchasing an additional 4,577 shares during the last quarter. Synovus Financial Corp boosted its position in shares of T. Rowe Price Group by 1.7% in the third quarter. Synovus Financial Corp now owns 11,204 shares of the asset manager’s stock valued at $1,150,000 after acquiring an additional 186 shares during the period. Finally, Syon Capital LLC grew its position in shares of T. Rowe Price Group by 11.2% during the 3rd quarter. Syon Capital LLC now owns 3,022 shares of the asset manager’s stock worth $310,000 after purchasing an additional 305 shares in the last quarter. Institutional investors and hedge funds own 73.39% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on TROW shares. Weiss Ratings reiterated a “hold (c+)” rating on shares of T. Rowe Price Group in a research report on Monday, December 29th. Argus upgraded T. Rowe Price Group to a “hold” rating in a research report on Thursday, February 5th. The Goldman Sachs Group decreased their price objective on T. Rowe Price Group from $95.00 to $90.00 and set a “sell” rating for the company in a report on Thursday, February 5th. BMO Capital Markets cut their price target on shares of T. Rowe Price Group from $110.00 to $104.00 and set a “market perform” rating on the stock in a research report on Thursday, February 12th. Finally, Barclays set a $94.00 target price on shares of T. Rowe Price Group in a research note on Thursday, February 5th. Twelve investment analysts have rated the stock with a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat.com, T. Rowe Price Group has an average rating of “Reduce” and a consensus price target of $102.23.

T. Rowe Price Group Stock Up 1.2%

T. Rowe Price Group stock opened at $96.46 on Friday. The company has a market capitalization of $21.04 billion, a P/E ratio of 10.43, a P/E/G ratio of 4.92 and a beta of 1.53. The firm has a 50 day moving average price of $101.68 and a 200-day moving average price of $103.42. T. Rowe Price Group, Inc. has a twelve month low of $77.85 and a twelve month high of $118.22.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings results on Wednesday, February 4th. The asset manager reported $2.44 EPS for the quarter, missing analysts’ consensus estimates of $2.47 by ($0.03). The firm had revenue of $1.93 billion for the quarter, compared to analysts’ expectations of $1.92 billion. T. Rowe Price Group had a net margin of 28.53% and a return on equity of 20.29%. The firm’s quarterly revenue was up 6.0% on a year-over-year basis. During the same period in the prior year, the company earned $2.12 EPS. Equities analysts expect that T. Rowe Price Group, Inc. will post 9.29 EPS for the current fiscal year.

T. Rowe Price Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 30th. Investors of record on Monday, March 16th will be paid a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 5.4%. The ex-dividend date is Monday, March 16th. This is a positive change from T. Rowe Price Group’s previous quarterly dividend of $1.27. T. Rowe Price Group’s dividend payout ratio is presently 54.92%.

Insider Activity

In other news, VP Arif Husain sold 4,260 shares of the firm’s stock in a transaction that occurred on Wednesday, December 10th. The shares were 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 directly owned 47,102 shares in the company, valued at approximately $4,802,519.92. This trade represents a 8.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.00% of the company’s stock.

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.