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

Sky Investment Group LLC cut its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 3.4% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 54,576 shares of the asset manager’s stock after selling 1,911 shares during the period. Sky Investment Group LLC’s holdings in T. Rowe Price Group were worth $5,945,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. West Coast Financial LLC purchased a new position in T. Rowe Price Group in the first quarter valued at approximately $272,000. Hoxton Planning & Management LLC purchased a new position in shares of T. Rowe Price Group in the 1st quarter valued at $204,000. ARGA Investment Management LP acquired a new position in shares of T. Rowe Price Group during the 1st quarter valued at $1,381,000. IAM Advisory LLC purchased a new stake in T. Rowe Price Group during the 1st quarter worth $231,000. Finally, Elevated Capital Advisors LLC boosted its position in T. Rowe Price Group by 10.3% during the 1st quarter. Elevated Capital Advisors LLC now owns 6,701 shares of the asset manager’s stock worth $817,000 after purchasing an additional 624 shares during the period. 73.39% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on TROW. TD Cowen cut their price objective on T. Rowe Price Group from $123.00 to $118.00 and set a “hold” rating on the stock in a research report on Monday, July 29th. The Goldman Sachs Group dropped their target price on T. Rowe Price Group from $106.00 to $102.00 and set a “sell” rating on the stock in a report on Thursday, October 3rd. Evercore ISI upped their price target on T. Rowe Price Group from $108.00 to $109.00 and gave the stock an “in-line” rating in a report on Friday, October 4th. Wells Fargo & Company increased 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. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of 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. Four equities research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $113.00.

T. Rowe Price Group Trading Down 0.5 %

TROW stock traded down $0.62 during mid-day trading on Tuesday, hitting $113.39. 120,986 shares of the company were exchanged, compared to its average volume of 1,247,665. The firm has a fifty day simple moving average of $107.73 and a 200 day simple moving average of $111.95. The company has a market capitalization of $25.32 billion, a PE ratio of 13.54, a price-to-earnings-growth ratio of 1.93 and a beta of 1.41. T. Rowe Price Group, Inc. has a twelve month low of $87.43 and a twelve month high of $122.27.

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

T. Rowe Price Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were given a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a dividend yield of 4.37%. The ex-dividend date of this dividend was Friday, September 13th. T. Rowe Price Group’s dividend payout ratio is currently 58.91%.

Insider Activity at T. Rowe Price Group

In other news, insider Jessica M. Hiebler sold 484 shares of the firm’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $104.73, for a total value of $50,689.32. Following the transaction, the insider now directly owns 13,939 shares in the company, valued at approximately $1,459,831.47. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the company’s stock in a transaction 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 completion of the transaction, the vice president now directly owns 123,624 shares in the company, valued at $12,712,255.92. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jessica M. Hiebler sold 484 shares of the stock in a transaction 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 directly owns 13,939 shares in the company, valued at $1,459,831.47. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

About T. Rowe Price Group

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.