American Century Companies Inc. Reduces Stock Position in T. Rowe Price Group, Inc. $TROW

American Century Companies Inc. trimmed its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 21.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,055,963 shares of the asset manager’s stock after selling 562,958 shares during the quarter. American Century Companies Inc. owned 0.94% of T. Rowe Price Group worth $211,024,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Fidelis Capital Partners LLC bought a new stake in T. Rowe Price Group during the 3rd quarter valued at about $540,000. Candriam S.C.A. increased its position in shares of T. Rowe Price Group by 20.4% during the second quarter. Candriam S.C.A. now owns 30,931 shares of the asset manager’s stock worth $2,985,000 after acquiring an additional 5,236 shares during the period. Greenspring Advisors LLC purchased a new position in shares of T. Rowe Price Group during the third quarter worth approximately $1,583,000. First Citizens Bank & Trust Co. raised its stake in shares of T. Rowe Price Group by 141.9% during the third quarter. First Citizens Bank & Trust Co. now owns 175,885 shares of the asset manager’s stock valued at $18,053,000 after acquiring an additional 103,174 shares in the last quarter. Finally, Allen Wealth Management LLC boosted its holdings in shares of T. Rowe Price Group by 459.3% in the third quarter. Allen Wealth Management LLC now owns 13,855 shares of the asset manager’s stock valued at $1,422,000 after purchasing an additional 11,378 shares during the period. Hedge funds and other institutional investors own 73.39% of the company’s stock.

T. Rowe Price Group Stock Performance

NASDAQ:TROW opened at $94.63 on Friday. The company’s 50-day simple moving average is $101.51 and its 200-day simple moving average is $103.32. T. Rowe Price Group, Inc. has a fifty-two week low of $77.85 and a fifty-two week high of $118.22. The stock has a market capitalization of $20.64 billion, a P/E ratio of 10.23, a P/E/G ratio of 4.88 and a beta of 1.53.

T. Rowe Price Group (NASDAQ:TROW) last posted its 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 company’s revenue was up 6.0% on a year-over-year basis. During the same period in the previous year, the company earned $2.12 EPS. On average, research analysts forecast that T. Rowe Price Group, Inc. will post 9.29 EPS 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. Stockholders of record on Monday, March 16th will be given a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 5.5%. The ex-dividend date of this dividend 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 payout ratio is 54.92%.

Analyst Ratings Changes

Several brokerages recently issued reports on TROW. TD Cowen dropped their price objective on T. Rowe Price Group from $109.00 to $97.00 and set a “hold” rating on the stock in a research note on Thursday, February 5th. Barclays set a $94.00 target price on T. Rowe Price Group in a report on Thursday, February 5th. Deutsche Bank Aktiengesellschaft cut their price target on T. Rowe Price Group from $106.00 to $100.00 and set a “hold” rating on the stock in a research note on Thursday, February 5th. Weiss Ratings restated a “hold (c+)” rating on shares of T. Rowe Price Group in a report on Monday, December 29th. Finally, Citigroup increased their target price on shares of T. Rowe Price Group from $105.00 to $107.00 in a report on Monday, November 3rd. Twelve equities research analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus target price of $102.23.

Insiders Place Their Bets

In related news, VP Arif Husain sold 4,260 shares of the business’s stock in a transaction on Wednesday, December 10th. The stock was sold at an average price of $101.96, for a total transaction of $434,349.60. Following the transaction, the vice president directly owned 47,102 shares in the company, valued at $4,802,519.92. The trade was a 8.29% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 2.00% of the stock is currently owned by company insiders.

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.