Apollon Wealth Management LLC Sells 2,218 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Apollon Wealth Management LLC reduced its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 26.7% in the third quarter, according to its most recent filing with the SEC. The fund owned 6,104 shares of the asset manager’s stock after selling 2,218 shares during the quarter. Apollon Wealth Management LLC’s holdings in T. Rowe Price Group were worth $665,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of TROW. International Assets Investment Management LLC lifted its stake in shares of T. Rowe Price Group by 7,992.0% in the 3rd quarter. International Assets Investment Management LLC now owns 1,067,655 shares of the asset manager’s stock valued at $116,300,000 after purchasing an additional 1,054,461 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in T. Rowe Price Group by 15.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,611,307 shares of the asset manager’s stock valued at $185,810,000 after buying an additional 220,105 shares during the period. AQR Capital Management LLC lifted its position in 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 worth $52,032,000 after buying an additional 196,565 shares during the last quarter. Burney Co. bought a new position in T. Rowe Price Group during the second quarter valued at $20,938,000. Finally, Canada Pension Plan Investment Board increased its position in T. Rowe Price Group by 1,328.0% during 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 last quarter. 73.39% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other T. Rowe Price Group 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 value of $50,689.32. Following the completion of the sale, the insider now directly owns 13,939 shares in the company, valued at $1,459,831.47. This trade represents a 3.36 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the company’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 transaction, the vice president now directly owns 123,624 shares in the company, valued at approximately $12,712,255.92. The trade was a 8.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on TROW shares. TD Cowen dropped their price target on shares of T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating for the company in a research note on Monday, November 4th. Deutsche Bank Aktiengesellschaft boosted their target price on 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. Evercore ISI increased 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. The Goldman Sachs Group dropped their price objective on T. Rowe Price Group from $106.00 to $102.00 and set a “sell” rating for the company in a report on Thursday, October 3rd. Finally, StockNews.com lowered T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Four equities research 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 has a consensus rating of “Hold” and an average price target of $115.55.

T. Rowe Price Group Price Performance

TROW stock opened at $118.77 on Friday. T. Rowe Price Group, Inc. has a 1-year low of $96.46 and a 1-year high of $122.27. The business has a 50-day moving average price of $110.77 and a 200 day moving average price of $112.16. The company has a market capitalization of $26.39 billion, a P/E ratio of 12.99, a PEG ratio of 1.68 and a beta of 1.41.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings results on Friday, November 1st. The asset manager reported $2.57 EPS for the quarter, beating the consensus estimate of $2.36 by $0.21. The business had revenue of $1.79 billion during the quarter, compared to analyst estimates of $1.84 billion. T. Rowe Price Group had a net margin of 30.35% and a return on equity of 20.35%. The company’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.17 EPS. On average, analysts anticipate 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 announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be given 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 4.18%. 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.