Caprock Group LLC Lowers Stake in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Caprock Group LLC lowered its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 17.4% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 2,972 shares of the asset manager’s stock after selling 627 shares during the period. Caprock Group LLC’s holdings in T. Rowe Price Group were worth $324,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Iron Horse Wealth Management LLC raised its position in shares of T. Rowe Price Group by 90.9% during the 3rd quarter. Iron Horse Wealth Management LLC now owns 231 shares of the asset manager’s stock valued at $25,000 after buying an additional 110 shares in the last quarter. Lynx Investment Advisory purchased a new stake in shares of T. Rowe Price Group during the 2nd quarter valued at $29,000. Hexagon Capital Partners LLC raised its position in shares of T. Rowe Price Group by 54.7% during the 3rd quarter. Hexagon Capital Partners LLC now owns 294 shares of the asset manager’s stock valued at $32,000 after buying an additional 104 shares in the last quarter. Family Firm Inc. purchased a new stake in shares of T. Rowe Price Group during the 2nd quarter valued at $36,000. Finally, Versant Capital Management Inc raised its position in shares of T. Rowe Price Group by 660.5% during the 2nd quarter. Versant Capital Management Inc now owns 327 shares of the asset manager’s stock valued at $38,000 after buying an additional 284 shares in the last quarter. Hedge funds and other institutional investors own 73.39% of the company’s stock.

T. Rowe Price Group Stock Up 1.4 %

Shares of T. Rowe Price Group stock opened at $119.84 on Friday. The firm has a market cap of $26.62 billion, a PE ratio of 13.11, a price-to-earnings-growth ratio of 1.68 and a beta of 1.41. T. Rowe Price Group, Inc. has a 12-month low of $96.48 and a 12-month high of $122.27. The company’s fifty day simple moving average is $112.20 and its two-hundred day simple moving average is $112.44.

T. Rowe Price Group (NASDAQ:TROW) last announced its earnings results 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 firm had revenue of $1.79 billion for 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 revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.17 EPS. As a group, sell-side analysts expect that T. Rowe Price Group, Inc. will post 9.33 earnings per share for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The business 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 dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a dividend yield of 4.14%. The ex-dividend date is Friday, December 13th. T. Rowe Price Group’s payout ratio is 54.27%.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. StockNews.com lowered shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Wells Fargo & Company increased their target price on shares of T. Rowe Price Group from $109.00 to $112.00 and gave the company an “equal weight” rating in a report on Wednesday, October 9th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $120.00 target price (down previously from $121.00) on shares of T. Rowe Price Group in a report on Monday, July 29th. JPMorgan Chase & Co. reduced their target price on shares of T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating on the stock in a report on Monday, November 4th. Finally, Evercore ISI increased their target price on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the company an “in-line” rating in a report on Thursday, November 7th. Four analysts have rated the stock with a sell rating and eight have given a hold rating to the company. According to MarketBeat, T. Rowe Price Group has a consensus rating of “Hold” and a consensus price target of $115.55.

Insider Activity

In related news, insider Jessica M. Hiebler sold 484 shares of T. Rowe Price Group 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 $1,459,831.47. This trade represents a 3.36 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of T. Rowe Price Group stock in a transaction dated 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 approximately $12,712,255.92. This trade represents a 8.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

T. Rowe Price Group 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.