Confluence Investment Management LLC Reduces Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Confluence Investment Management LLC decreased its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 1.5% during the third quarter, HoldingsChannel reports. The fund owned 983,989 shares of the asset manager’s stock after selling 15,218 shares during the quarter. T. Rowe Price Group accounts for approximately 1.4% of Confluence Investment Management LLC’s investment portfolio, making the stock its 23rd largest holding. Confluence Investment Management LLC’s holdings in T. Rowe Price Group were worth $107,186,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in TROW. Victory Capital Management Inc. raised its holdings in shares of T. Rowe Price Group by 3.8% in the second quarter. Victory Capital Management Inc. now owns 3,436,019 shares of the asset manager’s stock worth $396,207,000 after buying an additional 124,686 shares during the period. American Century Companies Inc. grew its position in T. Rowe Price Group by 4.5% in the 2nd quarter. American Century Companies Inc. now owns 2,512,793 shares of the asset manager’s stock valued at $289,750,000 after acquiring an additional 107,086 shares during the last quarter. ProShare Advisors LLC increased its stake in T. Rowe Price Group by 2.5% in the second quarter. ProShare Advisors LLC now owns 1,635,519 shares of the asset manager’s stock worth $188,592,000 after purchasing an additional 40,490 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of T. Rowe Price Group by 15.8% during the second 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 during the last quarter. Finally, International Assets Investment Management LLC boosted its stake in shares of T. Rowe Price Group by 7,992.0% during the third quarter. International Assets Investment Management LLC now owns 1,067,655 shares of the asset manager’s stock valued at $116,300,000 after purchasing an additional 1,054,461 shares during the period. Hedge funds and other institutional investors own 73.39% of the company’s stock.

Insider Buying and Selling at T. Rowe Price Group

In other 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 transaction, the vice president now directly owns 123,624 shares of the company’s stock, valued at approximately $12,712,255.92. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the firm’s stock in a transaction dated 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 completion of the sale, the vice president now 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jessica M. Hiebler sold 484 shares of the business’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $104.73, for a total value of $50,689.32. Following the sale, the insider now owns 13,939 shares in the company, valued at $1,459,831.47. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 2.00% of the stock is owned by insiders.

T. Rowe Price Group Trading Down 1.0 %

TROW opened at $120.06 on Friday. The firm has a market cap of $26.67 billion, a price-to-earnings ratio of 13.14, a PEG ratio of 1.76 and a beta of 1.41. 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 fifty day moving average price of $108.79 and a 200-day moving average price of $111.82.

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 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 the consensus estimate of $1.84 billion. During the same period in the previous year, the company posted $2.17 earnings per share. The firm’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 9.32 EPS for the current year.

T. Rowe Price Group Announces Dividend

The company also recently announced 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. The ex-dividend date of this dividend is Friday, December 13th. This represents a $4.96 dividend on an annualized basis and a yield of 4.13%. T. Rowe Price Group’s payout ratio is 54.27%.

Wall Street Analyst Weigh In

Several research analysts recently commented on TROW shares. Morgan Stanley raised their price target 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. The Goldman Sachs Group reduced their target price on shares of T. Rowe Price Group from $106.00 to $102.00 and set a “sell” rating on the stock in a research report on Thursday, October 3rd. TD Cowen lowered their price target on T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating for the company in a report on Monday. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $120.00 price objective (down previously from $121.00) on shares of T. Rowe Price Group in a research note on Monday, July 29th. Finally, Evercore ISI upped their target price on T. Rowe Price Group from $112.00 to $113.00 and gave the stock an “in-line” rating in a report on Thursday. Four research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $115.09.

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.