48,011 T. Rowe Price Group, Inc. $TROW Shares Sold by Vest Financial LLC

Vest Financial LLC reduced its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 8.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 500,633 shares of the asset manager’s stock after selling 48,011 shares during the quarter. Vest Financial LLC owned 0.23% of T. Rowe Price Group worth $52,091,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in TROW. BlackRock Inc. purchased a new stake in shares of T. Rowe Price Group during the 2nd quarter worth approximately $2,728,119,000. State Street Corp grew its holdings in shares of T. Rowe Price Group by 2.7% in the 2nd quarter. State Street Corp now owns 14,653,478 shares of the asset manager’s stock worth $1,665,954,000 after acquiring an additional 381,183 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of T. Rowe Price Group by 20.0% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,150,561 shares of the asset manager’s stock worth $358,187,000 after acquiring an additional 524,544 shares during the period. First Trust Advisors LP grew its holdings in shares of T. Rowe Price Group by 12.6% in the 1st quarter. First Trust Advisors LP now owns 3,694,171 shares of the asset manager’s stock worth $332,993,000 after acquiring an additional 413,317 shares during the period. Finally, Provident Trust Co. increased its stake in T. Rowe Price Group by 0.4% in the 2nd quarter. Provident Trust Co. now owns 2,061,353 shares of the asset manager’s stock valued at $234,355,000 after purchasing an additional 8,524 shares in the last quarter. 73.39% of the stock is owned by hedge funds and other institutional investors.

T. Rowe Price Group Price Performance

Shares of NASDAQ TROW opened at $103.29 on Thursday. The firm’s 50-day moving average is $106.60 and its two-hundred day moving average is $107.04. The company has a market capitalization of $22.03 billion, a PE ratio of 10.36, a price-to-earnings-growth ratio of 2.98 and a beta of 1.45. T. Rowe Price Group, Inc. has a 12-month low of $85.22 and a 12-month high of $122.00.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings data on Friday, July 31st. The asset manager reported $2.57 earnings per share for the quarter, topping analysts’ consensus estimates of $2.52 by $0.05. T. Rowe Price Group had a net margin of 29.26% and a return on equity of 20.91%. The business had revenue of $1.91 billion during the quarter, compared to analysts’ expectations of $1.89 billion. During the same period last year, the company posted $2.24 EPS. The company’s revenue was up 10.7% on a year-over-year basis. On average, analysts forecast that T. Rowe Price Group, Inc. will post 10.10 EPS for the current fiscal year.

T. Rowe Price Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 15th were issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 5.0%. The ex-dividend date was Tuesday, September 15th. T. Rowe Price Group’s dividend payout ratio is 52.16%.

Insiders Place Their Bets

In other T. Rowe Price Group news, VP Joshua Nelson sold 10,000 shares of the firm’s stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $111.82, for a total transaction of $1,118,200.00. Following the completion of the transaction, the vice president owned 71,328 shares of the company’s stock, valued at approximately $7,975,896.96. This trade represents a 12.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 1.60% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Weiss Ratings raised T. Rowe Price Group from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, September 4th. Barclays decreased their target price on T. Rowe Price Group from $103.00 to $102.00 and set an “underweight” rating on the stock in a research report on Wednesday, October 14th. JPMorgan Chase & Co. lowered their target price on T. Rowe Price Group from $107.00 to $106.00 and set an “underweight” rating on the stock in a report on Tuesday, October 13th. Morgan Stanley dropped their price target on T. Rowe Price Group from $116.00 to $110.00 and set an “equal weight” rating for the company in a research report on Friday, September 25th. Finally, Evercore set a $109.00 price target on T. Rowe Price Group in a research note on Friday, October 9th. One research analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, T. Rowe Price Group has an average rating of “Reduce” and an average price target of $104.08.

About T. Rowe Price Group

T. Rowe Price Group, Inc is a global investment management firm headquartered in Baltimore, Maryland. Founded in 1937 by Thomas Rowe Price Jr., the company provides investment strategies and advisory services to individual investors, retirement plans, financial intermediaries, institutions and other clients.

The company offers a range of actively managed and multi-asset investment products, including mutual funds, exchange-traded funds, separately managed accounts and other portfolio solutions.