T. Rowe Price Group, Inc. (NASDAQ:TROW) Shares Sold by Claro Advisors LLC

Claro Advisors LLC cut its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 70.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,057 shares of the asset manager’s stock after selling 4,965 shares during the quarter. Claro Advisors LLC’s holdings in T. Rowe Price Group were worth $224,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TROW. Ashton Thomas Private Wealth LLC purchased a new stake in T. Rowe Price Group during the first quarter valued at about $1,008,000. Envestnet Portfolio Solutions Inc. lifted its stake in T. Rowe Price Group by 52.4% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 65,534 shares of the asset manager’s stock valued at $7,990,000 after buying an additional 22,533 shares in the last quarter. Norden Group LLC purchased a new stake in T. Rowe Price Group during the first quarter valued at about $8,437,000. Forsta AP Fonden lifted its stake in T. Rowe Price Group by 32.3% during the second quarter. Forsta AP Fonden now owns 70,100 shares of the asset manager’s stock valued at $8,083,000 after buying an additional 17,100 shares in the last quarter. Finally, Mizuho Markets Americas LLC lifted its stake in T. Rowe Price Group by 90.0% during the first quarter. Mizuho Markets Americas LLC now owns 90,688 shares of the asset manager’s stock valued at $11,057,000 after buying an additional 42,949 shares in the last quarter. 73.39% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have commented on TROW. Keefe, Bruyette & Woods reaffirmed 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 note on Monday, July 29th. Evercore ISI increased their price target on shares of T. Rowe Price Group from $108.00 to $109.00 and gave the stock an “in-line” rating in a research report on Friday, October 4th. StockNews.com lowered shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Deutsche Bank Aktiengesellschaft increased their price objective on T. Rowe Price Group from $112.00 to $113.00 and gave the stock a “hold” rating in a report on Thursday, August 15th. Finally, Barclays increased their price objective on T. Rowe Price Group from $99.00 to $101.00 and gave the stock an “underweight” rating in a report on Monday, October 14th. Four analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $113.00.

Insider Buying and Selling at T. Rowe Price Group

In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $102.83, for a total transaction of $1,230,772.27. Following the transaction, the vice president now owns 123,624 shares in the company, valued at $12,712,255.92. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 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 shares were sold at an average price of $102.83, for a total value of $1,230,772.27. Following the sale, the vice president now 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 legal filing with the SEC, which is accessible through this hyperlink. Also, insider Jessica M. Hiebler sold 484 shares of the firm’s stock in a transaction on Friday, September 13th. The stock was 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 owns 13,939 shares in the company, valued at approximately $1,459,831.47. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

T. Rowe Price Group Stock Up 2.1 %

Shares of TROW stock opened at $115.63 on Monday. T. Rowe Price Group, Inc. has a 12 month low of $87.43 and a 12 month high of $122.27. The business’s 50 day moving average is $107.54 and its two-hundred day moving average is $111.96. The company has a market cap of $25.74 billion, a PE ratio of 13.65, a price-to-earnings-growth ratio of 1.93 and a beta of 1.41.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings results on Friday, July 26th. The asset manager reported $2.26 EPS for the quarter, missing the consensus estimate of $2.27 by ($0.01). T. Rowe Price Group had a net margin of 28.66% and a return on equity of 19.90%. The company had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.79 billion. During the same quarter last year, the business earned $2.02 EPS. The company’s revenue for the quarter was up 7.6% on a year-over-year basis. As a group, equities analysts expect that T. Rowe Price Group, Inc. will post 9.08 EPS for the current fiscal year.

T. Rowe Price Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were issued a dividend of $1.24 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $4.96 annualized dividend and a yield of 4.29%. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 58.56%.

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.