IFM Investors Pty Ltd Lowers Stake in T. Rowe Price Group, Inc. (NASDAQ:TROW)

IFM Investors Pty Ltd decreased its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 1.8% during the third quarter, Holdings Channel reports. The firm owned 43,476 shares of the asset manager’s stock after selling 792 shares during the quarter. IFM Investors Pty Ltd’s holdings in T. Rowe Price Group were worth $4,736,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. International Assets Investment Management LLC increased its stake in T. Rowe Price Group by 7,992.0% during the third quarter. International Assets Investment Management LLC now owns 1,067,655 shares of the asset manager’s stock worth $116,300,000 after purchasing an additional 1,054,461 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of T. Rowe Price Group by 15.8% in the second quarter. Dimensional Fund Advisors LP now owns 1,611,307 shares of the asset manager’s stock valued at $185,810,000 after purchasing an additional 220,105 shares in the last quarter. AQR Capital Management LLC increased its stake in T. Rowe Price Group by 77.2% during the 2nd quarter. AQR Capital Management LLC now owns 451,237 shares of the asset manager’s stock worth $52,032,000 after buying an additional 196,565 shares during the period. Burney Co. acquired a new stake in T. Rowe Price Group during the 2nd quarter worth approximately $20,938,000. Finally, Canada Pension Plan Investment Board boosted its position in T. Rowe Price Group by 1,328.0% in the 2nd quarter. Canada Pension Plan Investment Board now owns 162,010 shares of the asset manager’s stock valued at $18,681,000 after buying an additional 150,665 shares during the period. Hedge funds and other institutional investors own 73.39% of the company’s stock.

Analyst Ratings Changes

TROW has been the topic of a number of recent research reports. JPMorgan Chase & Co. upped their price objective on T. Rowe Price Group from $102.00 to $107.00 and gave the stock an “underweight” rating in a research report on Tuesday, July 23rd. TD Cowen reduced their price target on T. Rowe Price Group from $123.00 to $118.00 and set a “hold” rating on the stock in a research report on Monday, July 29th. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $120.00 price objective (down from $121.00) on shares of T. Rowe Price Group in a research report on Monday, July 29th. StockNews.com cut shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Finally, Wells Fargo & Company lifted their price target on shares of T. Rowe Price Group from $109.00 to $112.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 9th. Four equities research analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $113.00.

T. Rowe Price Group Stock Down 0.6 %

NASDAQ:TROW opened at $111.33 on Friday. The company has a market capitalization of $24.86 billion, a PE ratio of 13.22, a P/E/G ratio of 1.86 and a beta of 1.41. T. Rowe Price Group, Inc. has a 52-week low of $87.43 and a 52-week high of $122.27. The stock’s 50 day moving average price is $108.08 and its 200 day moving average price is $111.86.

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

T. Rowe Price Group Dividend Announcement

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

Insider Activity

In related news, 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 directly owns 13,939 shares in the company, valued at $1,459,831.47. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the company’s stock in a transaction 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 transaction, the vice president now directly owns 123,624 shares of the company’s stock, valued at $12,712,255.92. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jessica M. Hiebler sold 484 shares of the stock in a transaction dated 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 directly owns 13,939 shares of the company’s stock, valued at approximately $1,459,831.47. This trade 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.

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.