Foster & Motley Inc. Sells 789 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Foster & Motley Inc. decreased its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 15.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,328 shares of the asset manager’s stock after selling 789 shares during the quarter. Foster & Motley Inc.’s holdings in T. Rowe Price Group were worth $471,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in TROW. Envestnet Portfolio Solutions Inc. raised its stake in shares of T. Rowe Price Group by 52.4% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 65,534 shares of the asset manager’s stock valued at $7,990,000 after purchasing an additional 22,533 shares during the period. Forsta AP Fonden increased its position in shares of 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. Mizuho Markets Americas LLC lifted its holdings in shares of T. Rowe Price Group by 90.0% in the first quarter. Mizuho Markets Americas LLC now owns 90,688 shares of the asset manager’s stock worth $11,057,000 after buying an additional 42,949 shares in the last quarter. Savant Capital LLC boosted its position in shares of T. Rowe Price Group by 36.6% in the second 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 during the period. Finally, CANADA LIFE ASSURANCE Co grew its stake in T. Rowe Price Group by 4.1% during the first quarter. CANADA LIFE ASSURANCE Co now owns 171,259 shares of the asset manager’s stock valued at $20,890,000 after acquiring an additional 6,780 shares in the last quarter. Hedge funds and other institutional investors own 73.39% of the company’s stock.

T. Rowe Price Group Stock Performance

Shares of T. Rowe Price Group stock opened at $120.06 on Friday. T. Rowe Price Group, Inc. has a 52-week low of $90.02 and a 52-week high of $122.27. The company has a fifty day moving average of $108.79 and a 200-day moving average of $111.82. The stock has a market capitalization of $26.67 billion, a price-to-earnings ratio of 13.14, a price-to-earnings-growth ratio of 1.73 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 earnings per share (EPS) for the quarter, beating the consensus estimate 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 period in the prior year, the business posted $2.17 earnings per share. The company’s revenue was up 6.9% on a year-over-year basis. On average, equities research analysts forecast that T. Rowe Price Group, Inc. will post 9.27 earnings per share for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be given a $1.24 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $4.96 annualized dividend and a yield of 4.13%. T. Rowe Price Group’s payout ratio is currently 54.27%.

Insider Activity

In related news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of T. Rowe Price Group 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 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the business’s stock in a transaction dated 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. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jessica M. Hiebler sold 484 shares of the stock in a transaction that occurred on Friday, September 13th. The stock was 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 owns 13,939 shares of the company’s stock, valued at approximately $1,459,831.47. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on TROW shares. Morgan Stanley increased their target price on shares of T. Rowe Price Group from $127.00 to $129.00 and gave the stock an “equal weight” rating in a research note on Monday. Barclays lifted their price objective on T. Rowe Price Group from $101.00 to $110.00 and gave the company an “underweight” rating in a research note on Monday. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $120.00 target price (down from $121.00) on shares of T. Rowe Price Group in a research note on Monday, July 29th. Wells Fargo & Company lifted their price target on 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. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of T. Rowe Price Group from $113.00 to $115.00 and gave the stock a “hold” rating in a research report on Monday. Four analysts have rated the stock with a sell rating and eight have given a hold rating to the company’s stock. According to data from MarketBeat.com, T. Rowe Price Group currently has an average rating of “Hold” and an average price target of $115.09.

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.