T. Rowe Price Group, Inc. $TROW Shares Sold by Fisher Asset Management LLC

Fisher Asset Management LLC lowered its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 1.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,649,203 shares of the asset manager’s stock after selling 21,335 shares during the quarter. Fisher Asset Management LLC owned 0.76% of T. Rowe Price Group worth $169,274,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. TD Waterhouse Canada Inc. raised its holdings in shares of T. Rowe Price Group by 66.7% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 250 shares of the asset manager’s stock worth $25,000 after purchasing an additional 100 shares during the period. Root Financial Partners LLC acquired a new stake in T. Rowe Price Group during the 3rd quarter worth approximately $30,000. Vermillion & White Wealth Management Group LLC raised its holdings in T. Rowe Price Group by 120.0% in the second quarter. Vermillion & White Wealth Management Group LLC now owns 319 shares of the asset manager’s stock valued at $31,000 after buying an additional 174 shares during the period. Salomon & Ludwin LLC lifted its position in T. Rowe Price Group by 84.3% during the third quarter. Salomon & Ludwin LLC now owns 317 shares of the asset manager’s stock valued at $33,000 after buying an additional 145 shares in the last quarter. Finally, Atlantic Union Bankshares Corp purchased a new stake in T. Rowe Price Group during the second quarter worth approximately $35,000. Hedge funds and other institutional investors own 73.39% of the company’s stock.

T. Rowe Price Group Stock Performance

Shares of NASDAQ TROW opened at $94.92 on Tuesday. T. Rowe Price Group, Inc. has a 1 year low of $77.85 and a 1 year high of $118.22. The stock’s 50-day simple moving average is $101.31 and its 200-day simple moving average is $103.17. The firm has a market cap of $20.70 billion, a price-to-earnings ratio of 10.26, a PEG ratio of 4.88 and a beta of 1.54.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings data on Wednesday, February 4th. The asset manager reported $2.44 earnings per share for the quarter, missing analysts’ consensus estimates of $2.47 by ($0.03). T. Rowe Price Group had a net margin of 28.53% and a return on equity of 20.29%. The business had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.92 billion. During the same quarter last year, the business earned $2.12 EPS. T. Rowe Price Group’s revenue for the quarter was up 6.0% compared to the same quarter last year. As a group, research analysts predict that T. Rowe Price Group, Inc. will post 9.29 EPS for the current year.

T. Rowe Price Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 30th. Investors of record on Monday, March 16th will be paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 5.5%. This is a boost from T. Rowe Price Group’s previous quarterly dividend of $1.27. The ex-dividend date is Monday, March 16th. T. Rowe Price Group’s payout ratio is presently 54.92%.

Insider Activity

In related news, VP Arif Husain sold 4,260 shares of the company’s stock in a transaction on Wednesday, December 10th. The shares were sold at an average price of $101.96, for a total value of $434,349.60. Following the sale, the vice president directly owned 47,102 shares of the company’s stock, valued at $4,802,519.92. This represents a 8.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft cut their target price on shares of T. Rowe Price Group from $106.00 to $100.00 and set a “hold” rating on the stock in a research note on Thursday, February 5th. Barclays set a $94.00 price objective on T. Rowe Price Group in a research report on Thursday, February 5th. Morgan Stanley reduced their price objective on T. Rowe Price Group from $123.00 to $115.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 10th. Citigroup increased their target price on T. Rowe Price Group from $105.00 to $107.00 in a research note on Monday, November 3rd. Finally, Argus upgraded T. Rowe Price Group to a “hold” rating in a report on Thursday, February 5th. Twelve investment analysts have rated the stock with a Hold rating and four have given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average price target of $102.23.

About T. Rowe Price Group

T. Rowe Price Group, Inc is a global investment management firm headquartered in Baltimore, Maryland, founded by Thomas Rowe Price Jr. in 1937. The company provides a broad range of investment products and services for individual investors, financial intermediaries, retirement plan sponsors and institutional clients. Its offerings are built around active investment management and in-house research across equity, fixed income and multi-asset strategies, reflecting a long history as a research-driven asset manager.

The firm’s product lineup includes mutual funds, separate accounts, collective investment trusts, target-date and target-risk funds, and managed account solutions, as well as services for defined contribution and defined benefit retirement plans.