Prime Capital Investment Advisors LLC Cuts Stock Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Prime Capital Investment Advisors LLC lessened its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 19.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,190 shares of the asset manager’s stock after selling 787 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in T. Rowe Price Group were worth $347,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in TROW. Forsta AP Fonden boosted its stake in T. Rowe Price Group by 32.3% during the 2nd quarter. Forsta AP Fonden now owns 70,100 shares of the asset manager’s stock worth $8,083,000 after purchasing an additional 17,100 shares during the last quarter. Savant Capital LLC boosted its position in T. Rowe Price Group by 36.6% during the second quarter. Savant Capital LLC now owns 32,887 shares of the asset manager’s stock worth $3,792,000 after acquiring an additional 8,816 shares during the last quarter. CANADA LIFE ASSURANCE Co boosted its position in T. Rowe Price Group by 4.1% during the first quarter. CANADA LIFE ASSURANCE Co now owns 171,259 shares of the asset manager’s stock worth $20,890,000 after acquiring an additional 6,780 shares during the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in T. Rowe Price Group during the 2nd quarter valued at about $15,907,000. Finally, Cetera Advisors LLC raised its holdings in T. Rowe Price Group by 156.3% in the 1st quarter. Cetera Advisors LLC now owns 16,826 shares of the asset manager’s stock valued at $2,051,000 after acquiring an additional 10,260 shares during the last quarter. 73.39% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the stock in a transaction on Friday, September 6th. The stock was 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 of the company’s stock, valued at $12,712,255.92. This represents a 8.83 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Jessica M. Hiebler sold 484 shares of the firm’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $104.73, for a total value of $50,689.32. Following the sale, the insider now owns 13,939 shares in the company, valued at $1,459,831.47. This trade represents a 3.36 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.

T. Rowe Price Group Stock Down 0.9 %

NASDAQ:TROW opened at $118.77 on Friday. T. Rowe Price Group, Inc. has a 52-week low of $96.46 and a 52-week high of $122.27. The stock has a fifty day simple moving average of $110.77 and a 200-day simple moving average of $112.16. The company has a market capitalization of $26.39 billion, a PE ratio of 12.99, a price-to-earnings-growth ratio of 1.68 and a beta of 1.41.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings results on Friday, November 1st. The asset manager reported $2.57 EPS for the quarter, beating the consensus estimate of $2.36 by $0.21. T. Rowe Price Group had a net margin of 30.35% and a return on equity of 20.35%. The business had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.84 billion. During the same period in the prior year, the business earned $2.17 earnings per share. The company’s quarterly revenue was up 6.9% on a year-over-year basis. As a group, equities analysts anticipate that T. Rowe Price Group, Inc. will post 9.33 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be issued a $1.24 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 4.18%. T. Rowe Price Group’s dividend payout ratio (DPR) is 54.27%.

Analyst Upgrades and Downgrades

Several research firms recently commented on TROW. Barclays increased their price target on T. Rowe Price Group from $101.00 to $110.00 and gave the company an “underweight” rating in a report on Monday, November 4th. TD Cowen reduced their price target on T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating on the stock in a report on Monday, November 4th. StockNews.com lowered shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Monday, July 29th. JPMorgan Chase & Co. reduced their target price on shares of T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating on the stock in a research note on Monday, November 4th. Finally, Wells Fargo & Company boosted their target price on shares of T. Rowe Price Group from $109.00 to $112.00 and gave the company an “equal weight” rating in a report on Wednesday, October 9th. Four equities research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $115.55.

About T. Rowe Price Group

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.