T. Rowe Price Group, Inc. (NASDAQ:TROW) Stake Lessened by Quantinno Capital Management LP

Quantinno Capital Management LP trimmed its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 43.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,487 shares of the asset manager’s stock after selling 14,139 shares during the quarter. Quantinno Capital Management LP’s holdings in T. Rowe Price Group were worth $2,014,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in TROW. Charles Schwab Investment Management Inc. grew its stake in T. Rowe Price Group by 3.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 6,840,807 shares of the asset manager’s stock worth $745,169,000 after purchasing an additional 231,286 shares in the last quarter. Victory Capital Management Inc. grew its position in shares of T. Rowe Price Group by 3.8% in the 2nd quarter. Victory Capital Management Inc. now owns 3,436,019 shares of the asset manager’s stock worth $396,207,000 after acquiring an additional 124,686 shares in the last quarter. American Century Companies Inc. increased its holdings in shares of T. Rowe Price Group by 4.5% in the 2nd quarter. American Century Companies Inc. now owns 2,512,793 shares of the asset manager’s stock valued at $289,750,000 after acquiring an additional 107,086 shares during the last quarter. Provident Trust Co. raised its position in shares of T. Rowe Price Group by 0.3% during the 3rd quarter. Provident Trust Co. now owns 2,397,728 shares of the asset manager’s stock valued at $261,185,000 after acquiring an additional 7,905 shares in the last quarter. Finally, Fisher Asset Management LLC lifted its stake in T. Rowe Price Group by 2.6% during the third quarter. Fisher Asset Management LLC now owns 1,861,454 shares of the asset manager’s stock worth $202,768,000 after purchasing an additional 47,998 shares during the last quarter. 73.39% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

TROW has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft increased their target price on shares of T. Rowe Price Group from $115.00 to $120.00 and gave the stock a “hold” rating in a report on Monday, November 11th. Morgan Stanley raised their target price on shares of 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. TD Cowen lowered their target price on T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating for the company in a report on Monday, November 4th. Evercore ISI raised their price target on T. Rowe Price Group from $112.00 to $113.00 and gave the stock an “in-line” rating in a report on Thursday, November 7th. Finally, The Goldman Sachs Group lowered their price objective on T. Rowe Price Group from $106.00 to $102.00 and set a “sell” rating for the company in a research note on Thursday, October 3rd. Four investment analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $116.00.

T. Rowe Price Group Trading Down 0.5 %

T. Rowe Price Group stock opened at $123.03 on Wednesday. The company’s 50-day moving average price is $115.55 and its two-hundred day moving average price is $113.11. The stock has a market cap of $27.33 billion, a price-to-earnings ratio of 13.46, a PEG ratio of 1.75 and a beta of 1.42. T. Rowe Price Group, Inc. has a 52 week low of $97.50 and a 52 week high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last announced its earnings results on Friday, November 1st. The asset manager reported $2.57 EPS for the quarter, topping the consensus estimate of $2.36 by $0.21. The firm had revenue of $1.79 billion for the quarter, compared to analysts’ expectations of $1.84 billion. T. Rowe Price Group had a return on equity of 20.35% and a net margin of 30.35%. The firm’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.17 earnings per share. Research analysts expect that T. Rowe Price Group, Inc. will post 9.39 earnings per share for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be paid a dividend of $1.24 per share. The ex-dividend date is Friday, December 13th. This represents a $4.96 annualized dividend and a yield of 4.03%. T. Rowe Price Group’s dividend payout ratio is currently 54.27%.

Insider Buying and Selling

In related news, insider Jessica M. Hiebler sold 484 shares of the firm’s 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 sale, the insider now directly 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 sale was disclosed in a filing with the SEC, which is available at the SEC website. 2.00% of the stock is owned by corporate insiders.

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.