T. Rowe Price Group, Inc. (NASDAQ:TROW) Stock Position Lowered by Brown Capital Management LLC

Brown Capital Management LLC trimmed its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 12.6% during the 3rd quarter, HoldingsChannel reports. The firm owned 22,551 shares of the asset manager’s stock after selling 3,240 shares during the quarter. Brown Capital Management LLC’s holdings in T. Rowe Price Group were worth $2,456,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Forsta AP Fonden raised its position 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 during the period. Savant Capital LLC grew its stake in T. Rowe Price Group by 36.6% during the 2nd quarter. Savant Capital LLC now owns 32,887 shares of the asset manager’s stock valued at $3,792,000 after acquiring an additional 8,816 shares in the last quarter. CANADA LIFE ASSURANCE Co increased its holdings in shares of T. Rowe Price Group by 4.1% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 171,259 shares of the asset manager’s stock valued at $20,890,000 after purchasing an additional 6,780 shares during the period. Susquehanna Fundamental Investments LLC purchased a new stake in shares of T. Rowe Price Group in the second quarter worth approximately $15,907,000. Finally, Aigen Investment Management LP acquired a new stake in shares of T. Rowe Price Group during the third quarter worth approximately $516,000. 73.39% of the stock is owned by institutional investors and hedge funds.

T. Rowe Price Group Trading Down 0.4 %

Shares of T. Rowe Price Group stock opened at $117.52 on Thursday. T. Rowe Price Group, Inc. has a 1 year low of $96.46 and a 1 year high of $122.27. The company’s fifty day simple moving average is $111.62 and its 200-day simple moving average is $112.33. The company has a market cap of $26.11 billion, a price-to-earnings ratio of 12.86, a PEG ratio of 1.67 and a beta of 1.41.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings data on Friday, November 1st. The asset manager reported $2.57 EPS for the quarter, beating analysts’ consensus estimates of $2.36 by $0.21. T. Rowe Price Group had a net margin of 30.35% and a return on equity of 20.35%. The business had revenue of $1.79 billion during the quarter, compared to analyst estimates of $1.84 billion. During the same quarter in the prior year, the business earned $2.17 earnings per share. The firm’s revenue for the quarter was up 6.9% on a year-over-year basis. As a group, research analysts forecast 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 company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be issued a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a dividend yield of 4.22%. The ex-dividend date is Friday, December 13th. T. Rowe Price Group’s payout ratio is presently 54.27%.

Analyst Upgrades and Downgrades

TROW has been the topic of several research reports. Morgan Stanley upped their price objective on shares of T. Rowe Price Group from $127.00 to $129.00 and gave the company an “equal weight” rating in a research note on Monday, November 4th. StockNews.com lowered T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Wells Fargo & Company boosted their target price on T. Rowe Price Group from $109.00 to $112.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 9th. TD Cowen cut their price target on 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. Finally, Evercore ISI boosted their price target on T. Rowe Price Group from $112.00 to $113.00 and gave the company an “in-line” rating in a research note 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 data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $115.55.

Insider Activity

In other news, 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 sale, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jessica M. Hiebler sold 484 shares of the 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 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 disclosure for this sale can be found here. 2.00% of the stock is currently owned by company insiders.

T. Rowe Price Group Company 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.