Raymond James & Associates Sells 7,912 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Raymond James & Associates trimmed its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 6.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 112,364 shares of the asset manager’s stock after selling 7,912 shares during the period. Raymond James & Associates’ holdings in T. Rowe Price Group were worth $12,240,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Ashton Thomas Private Wealth LLC acquired a new stake in shares of T. Rowe Price Group in the 1st quarter valued at approximately $1,008,000. Envestnet Portfolio Solutions Inc. lifted its stake in shares of T. Rowe Price Group by 52.4% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 65,534 shares of the asset manager’s stock worth $7,990,000 after buying an additional 22,533 shares during the last quarter. Norden Group LLC acquired a new position in shares of T. Rowe Price Group in the first quarter valued at approximately $8,437,000. Forsta AP Fonden increased its position 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 buying an additional 17,100 shares during the period. Finally, Mizuho Markets Americas LLC increased its position in T. Rowe Price Group by 90.0% during the first quarter. Mizuho Markets Americas LLC now owns 90,688 shares of the asset manager’s stock worth $11,057,000 after acquiring an additional 42,949 shares during the period. 73.39% of the stock is currently owned by institutional investors.

T. Rowe Price Group Trading Down 0.6 %

Shares of NASDAQ:TROW opened at $111.33 on Monday. The stock has a market cap of $24.86 billion, a PE ratio of 13.22, a price-to-earnings-growth ratio of 1.86 and a beta of 1.41. The stock’s fifty day simple moving average is $108.08 and its two-hundred day simple moving average is $111.77. T. Rowe Price Group, Inc. has a 1-year low of $87.43 and a 1-year high of $122.27.

T. Rowe Price Group (NASDAQ:TROW) last posted its earnings results on Friday, July 26th. The asset manager reported $2.26 EPS for the quarter, missing the consensus estimate of $2.27 by ($0.01). The firm had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.79 billion. T. Rowe Price Group had a return on equity of 19.90% and a net margin of 28.66%. T. Rowe Price Group’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same period in the prior year, the business earned $2.02 EPS. On average, sell-side analysts forecast that T. Rowe Price Group, Inc. will post 9.09 earnings per share for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were given a $1.24 dividend. This represents a $4.96 annualized dividend and a yield of 4.46%. The ex-dividend date was Friday, September 13th. T. Rowe Price Group’s dividend payout ratio is 58.91%.

Insider Buying and Selling at T. Rowe Price Group

In related news, insider Jessica M. Hiebler sold 484 shares of T. Rowe Price Group stock in a transaction that occurred on Friday, September 13th. The shares were 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 of the company’s stock, valued at approximately $1,459,831.47. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the company’s stock in a transaction that occurred 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 sale, the vice president now directly owns 123,624 shares in the company, valued at approximately $12,712,255.92. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Jessica M. Hiebler sold 484 shares of T. Rowe Price Group 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 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.

Analysts Set New Price Targets

A number of research analysts recently issued reports on TROW shares. StockNews.com cut shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. JPMorgan Chase & Co. raised their price objective on T. Rowe Price Group from $102.00 to $107.00 and gave the company an “underweight” rating in a report on Tuesday, July 23rd. Deutsche Bank Aktiengesellschaft upped their target price on T. Rowe Price Group from $112.00 to $113.00 and gave the stock a “hold” rating in a report on Thursday, August 15th. Barclays boosted their price target on T. Rowe Price Group from $99.00 to $101.00 and gave the stock an “underweight” rating in a report on Monday, October 14th. Finally, Evercore ISI lifted their target price on shares of T. Rowe Price Group from $108.00 to $109.00 and gave the stock an “in-line” rating in a research report on Friday, October 4th. Four research analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $113.00.

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.