Mizuho Markets Americas LLC Sells 6,195 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Mizuho Markets Americas LLC lowered its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 11.2% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 49,309 shares of the asset manager’s stock after selling 6,195 shares during the quarter. Mizuho Markets Americas LLC’s holdings in T. Rowe Price Group were worth $5,371,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of TROW. Empirical Finance LLC grew its position in T. Rowe Price Group by 2.1% during the third quarter. Empirical Finance LLC now owns 7,780 shares of the asset manager’s stock valued at $847,000 after buying an additional 159 shares during the period. Empowered Funds LLC increased its stake in shares of T. Rowe Price Group by 380.1% during the 3rd quarter. Empowered Funds LLC now owns 122,178 shares of the asset manager’s stock worth $13,309,000 after purchasing an additional 96,727 shares during the last quarter. Cornercap Investment Counsel Inc. bought a new stake in shares of T. Rowe Price Group in the 3rd quarter worth approximately $1,584,000. CIBC Asset Management Inc lifted its stake in T. Rowe Price Group by 6.8% in the third quarter. CIBC Asset Management Inc now owns 38,064 shares of the asset manager’s stock valued at $4,146,000 after purchasing an additional 2,423 shares during the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. increased its position in T. Rowe Price Group by 6.0% in the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 5,814 shares of the asset manager’s stock worth $633,000 after buying an additional 327 shares during the last quarter. Institutional investors own 73.39% of the company’s stock.

T. Rowe Price Group Price Performance

Shares of T. Rowe Price Group stock opened at $118.77 on Friday. The company has a 50 day simple moving average of $110.77 and a two-hundred day simple moving average of $112.18. The firm has a market cap of $26.39 billion, a PE ratio of 12.99, a PEG ratio of 1.68 and a beta of 1.41. T. Rowe Price Group, Inc. has a 1 year low of $96.46 and a 1 year high of $122.27.

T. Rowe Price Group (NASDAQ:TROW) last announced its earnings results on Friday, November 1st. The asset manager reported $2.57 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $1.79 billion during the quarter, compared to analyst estimates of $1.84 billion. During the same period in the previous year, the business earned $2.17 earnings per share. The firm’s quarterly revenue was up 6.9% compared to the same quarter last year. As a group, research analysts anticipate that T. Rowe Price Group, Inc. will post 9.33 earnings per share for the current year.

T. Rowe Price Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be issued 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 dividend yield of 4.18%. T. Rowe Price Group’s dividend payout ratio is 54.27%.

Insider Buying and Selling

In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the business’s stock in a transaction on Friday, September 6th. The shares were 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 directly owns 123,624 shares of the company’s stock, valued at $12,712,255.92. The trade was a 8.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Jessica M. Hiebler sold 484 shares of T. Rowe Price Group 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 completion of the transaction, the insider now owns 13,939 shares in the company, valued at approximately $1,459,831.47. This represents a 3.36 % decrease in their position. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have recently weighed in on TROW. Wells Fargo & Company increased their price target on T. Rowe Price Group from $109.00 to $112.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 9th. Barclays lifted their target price on shares of T. Rowe Price Group from $101.00 to $110.00 and gave the stock an “underweight” rating in a research note on Monday, November 4th. JPMorgan Chase & Co. dropped their price target on shares of T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating on the stock in a research note on Monday, November 4th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of T. Rowe Price Group from $115.00 to $120.00 and gave the company a “hold” rating in a research note on Monday, November 11th. Finally, Morgan Stanley lifted their price target on T. Rowe Price Group from $127.00 to $129.00 and gave the company an “equal weight” rating in a research report on Monday, November 4th. Four investment analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $115.55.

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.