Moran Wealth Management LLC Decreases Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Moran Wealth Management LLC trimmed its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 1.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 74,965 shares of the asset manager’s stock after selling 933 shares during the period. Moran Wealth Management LLC’s holdings in T. Rowe Price Group were worth $8,166,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of TROW. Insight Folios Inc lifted its holdings in shares of T. Rowe Price Group by 3.6% during the 3rd quarter. Insight Folios Inc now owns 2,612 shares of the asset manager’s stock worth $285,000 after acquiring an additional 90 shares during the last quarter. Massmutual Trust Co. FSB ADV lifted its stake in T. Rowe Price Group by 7.4% in the second quarter. Massmutual Trust Co. FSB ADV now owns 1,328 shares of the asset manager’s stock worth $153,000 after purchasing an additional 92 shares during the last quarter. Keystone Financial Services lifted its stake in T. Rowe Price Group by 5.1% in the third quarter. Keystone Financial Services now owns 1,885 shares of the asset manager’s stock worth $205,000 after purchasing an additional 92 shares during the last quarter. Nvwm LLC lifted its stake in T. Rowe Price Group by 2.2% in the third quarter. Nvwm LLC now owns 4,496 shares of the asset manager’s stock worth $490,000 after purchasing an additional 95 shares during the last quarter. Finally, Strategy Asset Managers LLC lifted its stake in T. Rowe Price Group by 4.6% in the third quarter. Strategy Asset Managers LLC now owns 2,169 shares of the asset manager’s stock worth $236,000 after purchasing an additional 95 shares during the last quarter. 73.39% of the stock is currently owned by hedge funds and other institutional investors.

T. Rowe Price Group Stock Performance

Shares of NASDAQ TROW opened at $117.52 on Thursday. The firm’s 50 day moving average price is $111.62 and its 200-day moving average price is $112.33. The company has a market cap of $26.11 billion, a PE ratio of 12.86, a P/E/G ratio of 1.67 and a beta of 1.41. T. Rowe Price Group, Inc. has a 52-week low of $96.46 and a 52-week high of $122.27.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings data on Friday, November 1st. The asset manager reported $2.57 earnings per share 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 the consensus estimate of $1.84 billion. T. Rowe Price Group had a net margin of 30.35% and a return on equity of 20.35%. The firm’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.17 earnings per share. On average, analysts forecast that T. Rowe Price Group, Inc. will post 9.33 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be given a dividend of $1.24 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $4.96 dividend on an annualized basis and a yield of 4.22%. T. Rowe Price Group’s dividend payout ratio (DPR) is 54.27%.

Insider Activity at T. Rowe Price Group

In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $102.83, for a total value of $1,230,772.27. Following the transaction, the vice president now directly owns 123,624 shares in the company, valued at approximately $12,712,255.92. This trade represents a 8.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jessica M. Hiebler sold 484 shares of the stock in a transaction that occurred on Friday, September 13th. The stock was 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 in the company, valued at $1,459,831.47. The trade was a 3.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

TROW has been the topic of a number of analyst reports. The Goldman Sachs Group decreased their price objective on shares of T. Rowe Price Group from $106.00 to $102.00 and set a “sell” rating on the stock in a research report on Thursday, October 3rd. Evercore ISI boosted their price target on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the company an “in-line” rating in a research report on Thursday, November 7th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of T. Rowe Price Group from $115.00 to $120.00 and gave the company a “hold” rating in a research report on Monday, November 11th. Wells Fargo & Company boosted their price target on shares of T. Rowe Price Group from $109.00 to $112.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 9th. Finally, Barclays boosted their price target on shares of T. Rowe Price Group from $101.00 to $110.00 and gave the company an “underweight” rating in a research report on Monday, November 4th. Four equities research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $115.55.

T. Rowe Price Group Company 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.