Fayez Sarofim & Co Sells 203,550 Shares of T. Rowe Price Group, Inc. $TROW

Fayez Sarofim & Co decreased its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 3.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,045,436 shares of the asset manager’s stock after selling 203,550 shares during the quarter. T. Rowe Price Group comprises about 1.2% of Fayez Sarofim & Co’s investment portfolio, making the stock its 28th largest position. Fayez Sarofim & Co’s holdings in T. Rowe Price Group were worth $517,864,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in TROW. TD Waterhouse Canada Inc. increased its holdings in shares of T. Rowe Price Group by 66.7% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 250 shares of the asset manager’s stock worth $25,000 after buying an additional 100 shares during the last quarter. Essex Bank lifted its holdings in shares of T. Rowe Price Group by 3.6% in the 3rd quarter. Essex Bank now owns 2,914 shares of the asset manager’s stock valued at $299,000 after acquiring an additional 100 shares during the last quarter. PFG Investments LLC grew its position in T. Rowe Price Group by 4.8% in the third quarter. PFG Investments LLC now owns 2,249 shares of the asset manager’s stock worth $231,000 after acquiring an additional 102 shares in the last quarter. Fiduciary Trust Co grew its position in T. Rowe Price Group by 4.5% in the third quarter. Fiduciary Trust Co now owns 2,579 shares of the asset manager’s stock worth $265,000 after acquiring an additional 111 shares in the last quarter. Finally, Beacon Investment Advisors LLC increased its stake in T. Rowe Price Group by 1.2% during the second quarter. Beacon Investment Advisors LLC now owns 10,256 shares of the asset manager’s stock worth $986,000 after acquiring an additional 120 shares during the last quarter. 73.39% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. BMO Capital Markets decreased 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. Morgan Stanley dropped their target price 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. JPMorgan Chase & Co. decreased their price target on T. Rowe Price Group from $108.00 to $106.00 and set an “underweight” rating on the stock in a report on Thursday, February 5th. Keefe, Bruyette & Woods lowered their price target on T. Rowe Price Group from $115.00 to $110.00 and set a “market perform” rating for the company in a research report on Thursday, February 5th. Finally, Evercore lowered their price target on T. Rowe Price Group from $106.00 to $99.00 in a research report on Friday, March 6th. Twelve research analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat.com, T. Rowe Price Group has an average rating of “Reduce” and a consensus target price of $101.69.

T. Rowe Price Group Price Performance

Shares of NASDAQ:TROW opened at $88.59 on Monday. The firm has a market capitalization of $19.32 billion, a PE ratio of 9.58, a price-to-earnings-growth ratio of 3.71 and a beta of 1.54. The business has a 50 day simple moving average of $98.89 and a two-hundred day simple moving average of $102.11. 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 issued its quarterly earnings results on Wednesday, February 4th. The asset manager reported $2.44 earnings per share for the quarter, missing the consensus estimate 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 business had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $1.92 billion. During the same quarter in the previous year, the company posted $2.12 earnings per share. The company’s quarterly revenue was up 6.0% compared to the same quarter last year. Equities research analysts expect that T. Rowe Price Group, Inc. will post 9.29 EPS 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. Shareholders of record on Monday, March 16th will be paid a $1.30 dividend. The ex-dividend date is Monday, March 16th. This is a positive change from T. Rowe Price Group’s previous quarterly dividend of $1.27. This represents a $5.20 dividend on an annualized basis and a yield of 5.9%. T. Rowe Price Group’s payout ratio is 54.92%.

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.