T. Rowe Price Group, Inc. $TROW Holdings Lowered by Aquatic Capital Management LLC

Aquatic Capital Management LLC reduced its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 63.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 45,092 shares of the asset manager’s stock after selling 77,840 shares during the period. Aquatic Capital Management LLC’s holdings in T. Rowe Price Group were worth $4,628,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in TROW. TD Waterhouse Canada Inc. raised its position in T. Rowe Price Group by 66.7% in the second quarter. TD Waterhouse Canada Inc. now owns 250 shares of the asset manager’s stock worth $25,000 after acquiring an additional 100 shares in the last quarter. Root Financial Partners LLC bought a new position in shares of T. Rowe Price Group during the 3rd quarter valued at about $30,000. Salomon & Ludwin LLC grew its stake in shares of T. Rowe Price Group by 84.3% in the 3rd quarter. Salomon & Ludwin LLC now owns 317 shares of the asset manager’s stock worth $33,000 after purchasing an additional 145 shares during the last quarter. Vermillion & White Wealth Management Group LLC grew its stake in shares of T. Rowe Price Group by 120.0% in the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 319 shares of the asset manager’s stock worth $31,000 after purchasing an additional 174 shares during the last quarter. Finally, Quent Capital LLC bought a new stake in shares of T. Rowe Price Group in the 3rd quarter worth approximately $39,000. 73.39% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently weighed in on TROW. Keefe, Bruyette & Woods reduced their target price on shares of T. Rowe Price Group from $115.00 to $110.00 and set a “market perform” rating for the company in a report on Thursday, February 5th. Morgan Stanley dropped their price target on T. Rowe Price Group from $123.00 to $115.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 10th. Deutsche Bank Aktiengesellschaft reduced their price objective on T. Rowe Price Group from $106.00 to $100.00 and set a “hold” rating for the company in a research note on Thursday, February 5th. TD Cowen decreased their target price on T. Rowe Price Group from $109.00 to $97.00 and set a “hold” rating on the stock in a report on Thursday, February 5th. Finally, Barclays set a $94.00 target price on T. Rowe Price Group in a research report on Thursday, February 5th. Twelve equities research analysts have rated the stock with a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat.com, T. Rowe Price Group currently has a consensus rating of “Reduce” and an average target price of $101.69.

T. Rowe Price Group Stock Down 1.4%

Shares of NASDAQ:TROW opened at $87.38 on Tuesday. The company’s fifty day moving average is $98.51 and its two-hundred day moving average is $101.97. T. Rowe Price Group, Inc. has a 12-month low of $77.85 and a 12-month high of $118.22. The company has a market cap of $19.05 billion, a P/E ratio of 9.45, a price-to-earnings-growth ratio of 3.71 and a beta of 1.54.

T. Rowe Price Group (NASDAQ:TROW) last issued its earnings results on Wednesday, February 4th. The asset manager reported $2.44 EPS for the quarter, missing the consensus estimate of $2.47 by ($0.03). T. Rowe Price Group had a return on equity of 20.29% and a net margin of 28.53%.The business had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.92 billion. During the same period last year, the business earned $2.12 EPS. The business’s quarterly revenue was up 6.0% on a year-over-year basis. 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 Increases Dividend

The firm 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 $1.30 dividend. The ex-dividend date of this dividend is Monday, March 16th. This represents a $5.20 annualized dividend and a yield of 6.0%. This is an increase from T. Rowe Price Group’s previous quarterly dividend of $1.27. T. Rowe Price Group’s dividend payout ratio (DPR) is currently 54.92%.

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.