Quantbot Technologies LP Sells 7,603 Shares of T. Rowe Price Group, Inc. $TROW

Quantbot Technologies LP trimmed its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 39.5% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 11,650 shares of the asset manager’s stock after selling 7,603 shares during the period. Quantbot Technologies LP’s holdings in T. Rowe Price Group were worth $1,196,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in TROW. TD Waterhouse Canada Inc. lifted its stake in shares of T. Rowe Price Group by 66.7% during the second 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 period. Root Financial Partners LLC acquired a new stake in T. Rowe Price Group in the third quarter worth about $30,000. Salomon & Ludwin LLC raised its holdings 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 purchasing an additional 145 shares during the last quarter. Vermillion & White Wealth Management Group LLC lifted its position in T. Rowe Price Group by 120.0% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 319 shares of the asset manager’s stock valued at $31,000 after purchasing an additional 174 shares during the period. Finally, Atlantic Union Bankshares Corp bought a new position in shares of T. Rowe Price Group in the 2nd quarter valued at about $35,000. 73.39% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Barclays set a $94.00 price target on shares of T. Rowe Price Group in a research note on Thursday, February 5th. JPMorgan Chase & Co. cut their price target on T. Rowe Price Group from $108.00 to $106.00 and set an “underweight” rating on the stock in a research note on Thursday, February 5th. Deutsche Bank Aktiengesellschaft reduced their price target on T. Rowe Price Group from $106.00 to $100.00 and set a “hold” rating on the stock in a research report on Thursday, February 5th. Bank of America upped their price objective on T. Rowe Price Group from $85.00 to $86.00 in a report on Wednesday, January 14th. Finally, BMO Capital Markets cut their target price on T. Rowe Price Group from $110.00 to $104.00 and set a “market perform” rating on the stock in a research note on Thursday, February 12th. Twelve investment analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average target price of $102.23.

T. Rowe Price Group Stock Up 0.1%

TROW opened at $92.04 on Friday. The stock has a market cap of $20.07 billion, a P/E ratio of 9.95, a P/E/G ratio of 4.75 and a beta of 1.54. T. Rowe Price Group, Inc. has a 12 month low of $77.85 and a 12 month high of $118.22. The company has a fifty day simple moving average of $100.62 and a 200 day simple moving average of $102.92.

T. Rowe Price Group (NASDAQ:TROW) last posted its earnings results on Wednesday, February 4th. The asset manager reported $2.44 earnings per share (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 analyst estimates of $1.92 billion. T. Rowe Price Group had a net margin of 28.53% and a return on equity of 20.29%. The firm’s revenue was up 6.0% on a year-over-year basis. During the same period in the previous year, the firm posted $2.12 earnings per share. On average, equities research analysts expect that T. Rowe Price Group, Inc. will post 9.29 earnings per share 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. Shareholders of record on Monday, March 16th will be issued a dividend of $1.30 per share. This is an increase from T. Rowe Price Group’s previous quarterly dividend of $1.27. The ex-dividend date is Monday, March 16th. This represents a $5.20 annualized dividend and a yield of 5.6%. T. Rowe Price Group’s dividend payout ratio is 54.92%.

Insiders Place Their Bets

In other news, VP Arif Husain sold 4,260 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the vice president owned 47,102 shares in the company, valued at $4,802,519.92. This represents a 8.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 2.00% of the company’s stock.

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.