T. Rowe Price Group, Inc. (NASDAQ:TROW) Stock Position Lessened by Allen Wealth Management LLC

Allen Wealth Management LLC lessened its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 5.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,957 shares of the asset manager’s stock after selling 162 shares during the quarter. Allen Wealth Management LLC’s holdings in T. Rowe Price Group were worth $322,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. International Assets Investment Management LLC increased its stake in 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 worth $116,300,000 after purchasing an additional 1,054,461 shares in the last quarter. Dimensional Fund Advisors LP grew its position 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 worth $185,810,000 after purchasing an additional 220,105 shares in the last quarter. AQR Capital Management LLC raised 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 valued at $52,032,000 after purchasing an additional 196,565 shares during the period. Burney Co. purchased a new stake in shares of T. Rowe Price Group in the second quarter valued at $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 worth $18,681,000 after buying an additional 150,665 shares during the period. 73.39% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

TROW has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft raised their price objective on T. Rowe Price Group from $112.00 to $113.00 and gave the stock a “hold” rating in a research report on Thursday, August 15th. Wells Fargo & Company boosted their price objective on shares of T. Rowe Price Group from $109.00 to $112.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 9th. StockNews.com downgraded shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Barclays lifted their price objective on T. Rowe Price Group from $99.00 to $101.00 and gave the company an “underweight” rating in a research report on Monday, October 14th. Finally, Morgan Stanley upped their target price on T. Rowe Price Group from $125.00 to $127.00 and gave the stock an “equal weight” rating in a research report on Friday, October 18th. Four equities research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $113.00.

T. Rowe Price Group Stock Up 2.0 %

Shares of T. Rowe Price Group stock opened at $112.06 on Friday. T. Rowe Price Group, Inc. has a 12-month low of $90.02 and a 12-month high of $122.27. The stock has a 50 day moving average price of $108.32 and a two-hundred day moving average price of $111.69. The stock has a market capitalization of $24.94 billion, a P/E ratio of 13.23, a PEG ratio of 1.71 and a beta of 1.41.

T. Rowe Price Group (NASDAQ:TROW) last announced its earnings results on Friday, November 1st. The asset manager reported $2.57 EPS for the quarter, topping the consensus estimate of $2.36 by $0.21. T. Rowe Price Group had a net margin of 28.66% and a return on equity of 19.90%. The firm had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.84 billion. During the same quarter last year, the firm posted $2.17 EPS. The business’s quarterly revenue was up 6.9% on a year-over-year basis. Sell-side analysts anticipate that T. Rowe Price Group, Inc. will post 9.16 earnings per share for the current year.

T. Rowe Price Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be given a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a dividend yield of 4.43%. T. Rowe Price Group’s dividend payout ratio is presently 58.56%.

Insider Activity at T. Rowe Price Group

In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of T. Rowe Price Group stock in a transaction that occurred 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 of the company’s stock, valued at $12,712,255.92. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, insider Jessica M. Hiebler sold 484 shares of T. Rowe Price Group stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $104.73, for a total transaction of $50,689.32. Following the sale, the insider now directly owns 13,939 shares of the company’s stock, valued at $1,459,831.47. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the company’s stock in a transaction that occurred 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 completion of 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 0.00 % decrease in their position. The disclosure for this sale can be found here. 2.00% of the stock is owned by corporate insiders.

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.