Stephens Inc. AR Sells 623 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Stephens Inc. AR decreased its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 12.2% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 4,495 shares of the asset manager’s stock after selling 623 shares during the quarter. Stephens Inc. AR’s holdings in T. Rowe Price Group were worth $490,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in TROW. International Assets Investment Management LLC boosted its position 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 boosted its position 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 acquiring an additional 220,105 shares during the period. AQR Capital Management LLC boosted its position in shares of T. Rowe Price Group by 77.2% in the second quarter. AQR Capital Management LLC now owns 451,237 shares of the asset manager’s stock valued at $52,032,000 after acquiring an additional 196,565 shares during the period. Burney Co. bought a new stake in shares of T. Rowe Price Group in the second quarter valued at approximately $20,938,000. Finally, Canada Pension Plan Investment Board boosted its position in shares of T. Rowe Price Group by 1,328.0% in the second quarter. Canada Pension Plan Investment Board now owns 162,010 shares of the asset manager’s stock valued at $18,681,000 after acquiring an additional 150,665 shares during the period. Institutional investors own 73.39% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. StockNews.com cut T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. TD Cowen reduced their price objective on T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating for the company in a research report on Monday. JPMorgan Chase & Co. reduced their price objective on T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating for the company in a research report on Monday. Deutsche Bank Aktiengesellschaft increased their price objective on T. Rowe Price Group from $113.00 to $115.00 and gave the company a “hold” rating in a research report on Monday. Finally, Morgan Stanley upped their target price on T. Rowe Price Group from $127.00 to $129.00 and gave the company an “equal weight” rating in a research note on Monday. Four investment analysts have rated the stock with a sell rating and eight have given a hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $114.73.

Insider Activity

In other news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $102.83, for a total value of $1,230,772.27. Following the completion of the sale, the vice president now directly owns 123,624 shares in the company, valued at approximately $12,712,255.92. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $102.83, for a total value of $1,230,772.27. Following the completion of the sale, the vice president now directly owns 123,624 shares in the company, valued at approximately $12,712,255.92. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Jessica M. Hiebler sold 484 shares of the firm’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $104.73, for a total value of $50,689.32. Following the completion of the transaction, the insider now owns 13,939 shares in the company, valued at approximately $1,459,831.47. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by corporate insiders.

T. Rowe Price Group Price Performance

T. Rowe Price Group stock opened at $121.31 on Thursday. The stock has a fifty day moving average price of $108.79 and a two-hundred day moving average price of $111.82. T. Rowe Price Group, Inc. has a 52-week low of $90.02 and a 52-week high of $122.27. The firm has a market capitalization of $26.95 billion, a P/E ratio of 13.27, a P/E/G ratio of 1.73 and a beta of 1.41.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings data on Friday, November 1st. The asset manager reported $2.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.21. T. Rowe Price Group had a return on equity of 20.35% and a net margin of 30.35%. The firm had revenue of $1.79 billion during the quarter, compared to analyst estimates of $1.84 billion. During the same period in the prior year, the company posted $2.17 earnings per share. The business’s revenue for the quarter was up 6.9% compared to the same quarter last year. On average, equities research analysts predict that T. Rowe Price Group, Inc. will post 9.27 EPS for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The firm also recently announced 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. The ex-dividend date is Friday, December 13th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 4.09%. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 54.27%.

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.