Quinn Opportunity Partners LLC Sells 26,803 Shares of T. Rowe Price Group, Inc. $TROW

Quinn Opportunity Partners LLC lessened its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 22.0% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 95,098 shares of the asset manager’s stock after selling 26,803 shares during the quarter. Quinn Opportunity Partners LLC’s holdings in T. Rowe Price Group were worth $9,761,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. TD Waterhouse Canada Inc. lifted its stake 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 valued at $25,000 after acquiring an additional 100 shares during the last quarter. Root Financial Partners LLC purchased a new stake in T. Rowe Price Group during the 3rd quarter valued at about $30,000. Salomon & Ludwin LLC grew its position in T. Rowe Price Group by 84.3% during the 3rd quarter. Salomon & Ludwin LLC now owns 317 shares of the asset manager’s stock worth $33,000 after acquiring an additional 145 shares during the last quarter. Vermillion & White Wealth Management Group LLC increased its stake in T. Rowe Price Group by 120.0% in the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 319 shares of the asset manager’s stock worth $31,000 after purchasing an additional 174 shares during the period. Finally, Quent Capital LLC purchased a new position in T. Rowe Price Group in the 3rd quarter worth approximately $39,000. 73.39% of the stock is owned by institutional investors.

T. Rowe Price Group Stock Performance

TROW opened at $88.59 on Friday. The stock has a market capitalization of $19.32 billion, a PE ratio of 9.58, a price-to-earnings-growth ratio of 3.68 and a beta of 1.54. The stock’s 50 day moving average price is $98.89 and its 200-day moving average price is $102.21. T. Rowe Price Group, Inc. has a 52-week low of $77.85 and a 52-week high of $118.22.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings results on Wednesday, February 4th. The asset manager reported $2.44 EPS for the quarter, missing analysts’ consensus estimates of $2.47 by ($0.03). The business had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $1.92 billion. T. Rowe Price Group had a return on equity of 20.29% and a net margin of 28.53%.The business’s revenue was up 6.0% compared to the same quarter last year. During the same period in the previous year, the business earned $2.12 EPS. Research analysts forecast that T. Rowe Price Group, Inc. will post 9.29 EPS for the current fiscal year.

T. Rowe Price Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 30th. Stockholders of record on Monday, March 16th will be given a $1.30 dividend. The ex-dividend date of this dividend is Monday, March 16th. This represents a $5.20 annualized dividend and a dividend yield of 5.9%. This is a positive change from T. Rowe Price Group’s previous quarterly dividend of $1.27. T. Rowe Price Group’s dividend payout ratio is 54.92%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on TROW. TD Cowen dropped their price objective on T. Rowe Price Group from $109.00 to $97.00 and set a “hold” rating for the company in a research note on Thursday, February 5th. Evercore decreased their target price on shares of T. Rowe Price Group from $106.00 to $99.00 in a research note on Friday, March 6th. JPMorgan Chase & Co. lowered their price target on shares of T. Rowe Price Group from $108.00 to $106.00 and set an “underweight” rating for the company in a report on Thursday, February 5th. Argus raised shares of T. Rowe Price Group to a “hold” rating in a research report on Thursday, February 5th. Finally, Barclays set a $94.00 price target on shares of T. Rowe Price Group in a report on Thursday, February 5th. Twelve equities research analysts have rated the stock with a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat, T. Rowe Price Group currently has an average rating of “Reduce” and an average price target of $101.69.

T. Rowe Price Group Profile

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.