T. Rowe Price Group, Inc. $TROW Position Trimmed by Blair William & Co. IL

Blair William & Co. IL decreased its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 4.0% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 219,489 shares of the asset manager’s stock after selling 9,217 shares during the quarter. Blair William & Co. IL owned 0.10% of T. Rowe Price Group worth $22,528,000 as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

Several research firms have issued reports on TROW. Keefe, Bruyette & Woods cut their price objective 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. Weiss Ratings reiterated a “hold (c+)” rating on shares of T. Rowe Price Group in a research report on Monday, December 29th. BMO Capital Markets cut their target price 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 note on Thursday, February 12th. Barclays set a $94.00 target price on T. Rowe Price Group in a research report on Thursday, February 5th. Finally, Zacks Research downgraded T. Rowe Price Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 9th. Twelve investment 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, the stock currently has an average rating of “Reduce” and a consensus target price of $101.69.

T. Rowe Price Group Stock Performance

T. Rowe Price Group stock opened at $90.40 on Monday. T. Rowe Price Group, Inc. has a twelve month low of $77.85 and a twelve month high of $118.22. The firm has a market cap of $19.71 billion, a PE ratio of 9.77, a P/E/G ratio of 4.67 and a beta of 1.54. The firm’s 50 day moving average price is $100.33 and its two-hundred day moving average price is $102.77.

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

T. Rowe Price Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 30th. Investors of record on Monday, March 16th will be issued a dividend of $1.30 per share. This is a positive change from T. Rowe Price Group’s previous quarterly dividend of $1.27. This represents a $5.20 annualized dividend and a dividend yield of 5.8%. The ex-dividend date is Monday, March 16th. T. Rowe Price Group’s dividend payout ratio is 56.22%.

Insider Transactions at T. Rowe Price Group

In other T. Rowe Price Group news, VP Arif Husain sold 4,260 shares of the business’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 transaction, the vice president owned 47,102 shares in the company, valued at $4,802,519.92. The trade was a 8.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 2.00% of the company’s stock.

About T. Rowe Price Group

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.