T. Rowe Price Group, Inc. $TROW Shares Sold by First Trust Advisors LP

First Trust Advisors LP lessened its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 57.9% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,448,623 shares of the asset manager’s stock after selling 1,992,835 shares during the quarter. First Trust Advisors LP owned approximately 0.66% of T. Rowe Price Group worth $148,687,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Woodline Partners LP increased its holdings in T. Rowe Price Group by 41.0% during the 1st quarter. Woodline Partners LP now owns 18,809 shares of the asset manager’s stock valued at $1,728,000 after acquiring an additional 5,467 shares in the last quarter. Focus Partners Wealth lifted its holdings in shares of T. Rowe Price Group by 10.6% in the first quarter. Focus Partners Wealth now owns 13,054 shares of the asset manager’s stock valued at $1,199,000 after purchasing an additional 1,250 shares in the last quarter. Atria Investments Inc lifted its holdings in shares of T. Rowe Price Group by 2.9% in the second quarter. Atria Investments Inc now owns 7,269 shares of the asset manager’s stock valued at $701,000 after purchasing an additional 207 shares in the last quarter. Atlantic Union Bankshares Corp acquired a new stake in shares of T. Rowe Price Group in the second quarter valued at approximately $35,000. Finally, Resona Asset Management Co. Ltd. increased its stake in shares of T. Rowe Price Group by 6.2% during the 2nd quarter. Resona Asset Management Co. Ltd. now owns 97,120 shares of the asset manager’s stock worth $9,359,000 after purchasing an additional 5,685 shares in the last quarter. 73.39% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on TROW shares. Bank of America lifted their price objective on T. Rowe Price Group from $85.00 to $86.00 in a research report on Wednesday, January 14th. Keefe, Bruyette & Woods lowered their target price on T. Rowe Price Group from $115.00 to $110.00 and set a “market perform” rating on the stock in a report on Thursday, February 5th. Morgan Stanley cut their price target on T. Rowe Price Group from $123.00 to $115.00 and set an “equal weight” rating for the company in a report on Tuesday, February 10th. BMO Capital Markets reduced their price objective on 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, Evercore decreased their price objective on T. Rowe Price Group from $106.00 to $99.00 in a research note on Friday. Twelve research analysts have rated the stock with a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average price target of $101.69.

Insider Transactions at T. Rowe Price Group

In other T. Rowe Price Group news, VP Arif Husain sold 4,260 shares of the firm’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 sale, the vice president directly owned 47,102 shares of the company’s stock, valued at approximately $4,802,519.92. This trade represents a 8.29% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.00% of the company’s stock.

T. Rowe Price Group Stock Performance

Shares of TROW opened at $90.40 on Monday. The stock has a fifty day moving average of $100.33 and a two-hundred day moving average of $102.77. The company has a market capitalization of $19.71 billion, a PE ratio of 9.77, a price-to-earnings-growth ratio of 4.67 and a beta of 1.54. T. Rowe Price Group, Inc. has a fifty-two week low of $77.85 and a fifty-two week high of $118.22.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings data on Wednesday, February 4th. The asset manager reported $2.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.47 by ($0.03). The business had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.92 billion. T. Rowe Price Group had a return on equity of 20.29% and a net margin of 28.53%.T. Rowe Price Group’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same quarter last year, the business earned $2.12 EPS. As a group, equities research analysts forecast that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current fiscal year.

T. Rowe Price Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 30th. Investors of record on Monday, March 16th will be given a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 5.8%. This is a boost from T. Rowe Price Group’s previous quarterly dividend of $1.27. The ex-dividend date is Monday, March 16th. T. Rowe Price Group’s dividend payout ratio (DPR) is currently 56.22%.

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.