Mutual of America Capital Management LLC Decreases Stock Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Mutual of America Capital Management LLC decreased its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 2.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 27,412 shares of the asset manager’s stock after selling 749 shares during the period. Mutual of America Capital Management LLC’s holdings in T. Rowe Price Group were worth $2,986,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD boosted its holdings in T. Rowe Price Group by 0.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 295,449 shares of the asset manager’s stock valued at $36,022,000 after purchasing an additional 2,323 shares during the last quarter. Public Employees Retirement System of Ohio grew its position in shares of T. Rowe Price Group by 9.1% during the first quarter. Public Employees Retirement System of Ohio now owns 161,979 shares of the asset manager’s stock worth $19,748,000 after buying an additional 13,468 shares in the last quarter. Paloma Partners Management Co increased its stake in shares of T. Rowe Price Group by 148.7% in the first quarter. Paloma Partners Management Co now owns 5,703 shares of the asset manager’s stock worth $695,000 after buying an additional 17,403 shares during the last quarter. Caxton Associates LP raised its holdings in T. Rowe Price Group by 124.6% in the first quarter. Caxton Associates LP now owns 16,782 shares of the asset manager’s stock valued at $2,046,000 after acquiring an additional 9,310 shares in the last quarter. Finally, Kinloch Capital LLC boosted its stake in T. Rowe Price Group by 27.4% during the 1st quarter. Kinloch Capital LLC now owns 32,082 shares of the asset manager’s stock valued at $3,911,000 after acquiring an additional 6,896 shares during the last quarter. Institutional investors and hedge funds own 73.39% of the company’s stock.

Analyst Ratings Changes

TROW has been the topic of a number of recent analyst reports. Wells Fargo & Company upped 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 research note on Wednesday, October 9th. Morgan Stanley increased their target price on T. Rowe Price Group from $127.00 to $129.00 and gave the stock an “equal weight” rating in a report on Monday, November 4th. Deutsche Bank Aktiengesellschaft boosted their price target on T. Rowe Price Group from $115.00 to $120.00 and gave the company a “hold” rating in a report on Monday, November 11th. The Goldman Sachs Group reduced their price objective on T. Rowe Price Group from $106.00 to $102.00 and set a “sell” rating on the stock in a research note on Thursday, October 3rd. Finally, JPMorgan Chase & Co. dropped 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 report on Monday, November 4th. Four research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. Based on data from MarketBeat, T. Rowe Price Group has an average rating of “Hold” and a consensus price target of $115.55.

T. Rowe Price Group Price Performance

TROW opened at $119.84 on Friday. The stock’s 50 day moving average price is $112.20 and its 200 day moving average price is $112.44. The stock has a market cap of $26.62 billion, a P/E ratio of 13.11, a P/E/G ratio of 1.68 and a beta of 1.41. T. Rowe Price Group, Inc. has a 12 month low of $96.48 and a 12 month high of $122.27.

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

T. Rowe Price Group Dividend Announcement

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 paid a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a dividend yield of 4.14%. The ex-dividend date is Friday, December 13th. T. Rowe Price Group’s dividend payout ratio is currently 54.27%.

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 completion of the transaction, the vice president now directly owns 123,624 shares of the company’s stock, valued at approximately $12,712,255.92. This trade represents a 8.83 % decrease in their position. The sale was disclosed in a document filed 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 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 transaction, the insider now owns 13,939 shares in the company, valued at approximately $1,459,831.47. This trade represents a 3.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

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.