T. Rowe Price Group, Inc. $TROW Shares Sold by RBO & Co. LLC

RBO & Co. LLC decreased its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 87.2% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,843 shares of the asset manager’s stock after selling 80,929 shares during the quarter. RBO & Co. LLC’s holdings in T. Rowe Price Group were worth $1,216,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of TROW. Cresset Asset Management LLC grew its stake in T. Rowe Price Group by 6.8% during the 3rd quarter. Cresset Asset Management LLC now owns 66,448 shares of the asset manager’s stock valued at $6,820,000 after acquiring an additional 4,251 shares in the last quarter. Manske Wealth Management grew its position in shares of T. Rowe Price Group by 5.9% in the third quarter. Manske Wealth Management now owns 8,003 shares of the asset manager’s stock valued at $821,000 after purchasing an additional 449 shares in the last quarter. CI Investments Inc. grew its position in shares of T. Rowe Price Group by 14.9% in the third quarter. CI Investments Inc. now owns 1,686 shares of the asset manager’s stock valued at $173,000 after purchasing an additional 218 shares in the last quarter. Kingsview Wealth Management LLC increased its holdings in shares of T. Rowe Price Group by 3.9% in the third quarter. Kingsview Wealth Management LLC now owns 3,323 shares of the asset manager’s stock valued at $341,000 after purchasing an additional 124 shares during the last quarter. Finally, 111 Capital purchased a new position in T. Rowe Price Group during the third quarter worth approximately $201,000. 73.39% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

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 value of $434,349.60. Following the sale, the vice president owned 47,102 shares in the company, valued at approximately $4,802,519.92. The trade was a 8.29% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on TROW. Barclays set a $94.00 target price on T. Rowe Price Group in a report on Thursday, February 5th. Argus raised shares of T. Rowe Price Group to a “hold” rating in a report on Thursday, February 5th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of 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. BMO Capital Markets dropped their price target on shares of T. Rowe Price Group from $110.00 to $104.00 and set a “market perform” rating for the company in a research note on Thursday, February 12th. Finally, JPMorgan Chase & Co. reduced their price target on shares of T. Rowe Price Group from $108.00 to $106.00 and set an “underweight” rating on the stock in a research report on Thursday, February 5th. Twelve research analysts have rated the stock with a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus price target of $102.23.

T. Rowe Price Group Price Performance

Shares of TROW opened at $93.42 on Wednesday. The firm has a 50-day simple moving average of $101.10 and a two-hundred day simple moving average of $103.08. The stock has a market cap of $20.37 billion, a PE ratio of 10.10, a P/E/G ratio of 4.90 and a beta of 1.54. T. Rowe Price Group, Inc. has a 1-year low of $77.85 and a 1-year 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 for the quarter, missing analysts’ consensus estimates 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 company had revenue of $1.93 billion for the quarter, compared to analysts’ expectations of $1.92 billion. During the same period in the previous year, the business posted $2.12 EPS. The business’s revenue for the quarter was up 6.0% on a year-over-year basis. As a group, sell-side analysts expect 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 company also recently disclosed a quarterly dividend, which will be paid on Monday, March 30th. Stockholders 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 is a boost from T. Rowe Price Group’s previous quarterly dividend of $1.27. This represents a $5.20 dividend on an annualized basis and a dividend yield of 5.6%. T. Rowe Price Group’s payout ratio is presently 54.92%.

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.