T. Rowe Price Group, Inc. (NASDAQ:TROW) Shares Sold by Heritage Investors Management Corp

Heritage Investors Management Corp lowered its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 3.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 187,804 shares of the asset manager’s stock after selling 7,645 shares during the period. Heritage Investors Management Corp’s holdings in T. Rowe Price Group were worth $20,458,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Victory Capital Management Inc. boosted its holdings in T. Rowe Price Group by 3.8% in the 2nd quarter. Victory Capital Management Inc. now owns 3,436,019 shares of the asset manager’s stock valued at $396,207,000 after purchasing an additional 124,686 shares in the last quarter. American Century Companies Inc. lifted its stake in T. Rowe Price Group by 4.5% in the 2nd quarter. American Century Companies Inc. now owns 2,512,793 shares of the asset manager’s stock valued at $289,750,000 after buying an additional 107,086 shares in the last quarter. ProShare Advisors LLC raised its holdings in T. Rowe Price Group by 2.5% in the 2nd quarter. ProShare Advisors LLC now owns 1,635,519 shares of the asset manager’s stock valued at $188,592,000 after acquiring an additional 40,490 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of T. Rowe Price Group by 15.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,611,307 shares of the asset manager’s stock worth $185,810,000 after buying an additional 220,105 shares during the last quarter. Finally, International Assets Investment Management LLC increased its holdings in T. Rowe Price Group by 7,992.0% in the 3rd quarter. International Assets Investment Management LLC now owns 1,067,655 shares of the asset manager’s stock valued at $116,300,000 after purchasing an additional 1,054,461 shares in the last quarter. Institutional investors and hedge funds own 73.39% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Barclays increased their price target on shares of T. Rowe Price Group from $101.00 to $110.00 and gave the stock an “underweight” rating in a research report on Monday. The Goldman Sachs Group dropped their price target on T. Rowe Price Group from $106.00 to $102.00 and set a “sell” rating on the stock in a report on Thursday, October 3rd. StockNews.com downgraded shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Wells Fargo & Company upped their price objective on shares of T. Rowe Price Group from $109.00 to $112.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 9th. Finally, Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $120.00 price objective (down from $121.00) on shares of T. Rowe Price Group in a report on Monday, July 29th. Four equities research analysts have rated the stock with a sell rating and eight have given a hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $114.73.

Insiders Place Their Bets

In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the company’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $102.83, for a total transaction of $1,230,772.27. Following the transaction, the vice president now owns 123,624 shares in the company, valued at approximately $12,712,255.92. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the firm’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $102.83, for a total transaction of $1,230,772.27. Following the completion of the sale, the vice president now owns 123,624 shares in the company, valued at approximately $12,712,255.92. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Jessica M. Hiebler sold 484 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $104.73, for a total transaction of $50,689.32. Following the completion of the transaction, the insider now owns 13,939 shares of the company’s stock, valued at $1,459,831.47. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

T. Rowe Price Group Stock Up 0.1 %

Shares of NASDAQ:TROW traded up $0.09 during midday trading on Tuesday, hitting $112.58. The stock had a trading volume of 14,844 shares, compared to its average volume of 1,251,402. The company’s 50-day moving average price is $108.38 and its 200-day moving average price is $111.71. T. Rowe Price Group, Inc. has a fifty-two week low of $90.02 and a fifty-two week high of $122.27. The company has a market capitalization of $25.06 billion, a P/E ratio of 12.31, a price-to-earnings-growth ratio of 1.75 and a beta of 1.41.

T. Rowe Price Group (NASDAQ:TROW) last issued its earnings results on Friday, November 1st. The asset manager reported $2.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.21. The business had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.84 billion. T. Rowe Price Group had a net margin of 30.35% and a return on equity of 20.46%. T. Rowe Price Group’s revenue was up 6.9% on a year-over-year basis. During the same period in the prior year, the firm earned $2.17 earnings per share. Research analysts expect that T. Rowe Price Group, Inc. will post 9.16 EPS for the current fiscal year.

T. Rowe Price Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be issued a dividend of $1.24 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $4.96 annualized dividend and a yield of 4.41%. T. Rowe Price Group’s payout ratio is 54.27%.

T. Rowe Price Group Profile

T. Rowe Price Group, Inc is a publicly owned investment manager. The firm provides its services to individuals, institutional investors, retirement plans, financial intermediaries, and institutions. It launches and manages equity and fixed income mutual funds. The firm invests in the public equity and fixed income markets across the globe.