T. Rowe Price Group, Inc. (NASDAQ:TROW) Shares Sold by Associated Banc Corp

Associated Banc Corp trimmed its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 2.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 26,021 shares of the asset manager’s stock after selling 612 shares during the quarter. Associated Banc Corp’s holdings in T. Rowe Price Group were worth $2,834,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in TROW. Private Trust Co. NA increased its position in shares of T. Rowe Price Group by 33.2% during the 3rd quarter. Private Trust Co. NA now owns 3,819 shares of the asset manager’s stock worth $416,000 after purchasing an additional 952 shares during the last quarter. Independent Advisor Alliance grew its position in T. Rowe Price Group by 5.7% in the 3rd quarter. Independent Advisor Alliance now owns 19,788 shares of the asset manager’s stock valued at $2,156,000 after acquiring an additional 1,068 shares in the last quarter. Davis R M Inc. increased its stake in T. Rowe Price Group by 1.1% during the third quarter. Davis R M Inc. now owns 153,511 shares of the asset manager’s stock worth $16,722,000 after purchasing an additional 1,639 shares during the period. Fisher Asset Management LLC grew its holdings in shares of T. Rowe Price Group by 2.6% in the third quarter. Fisher Asset Management LLC now owns 1,861,454 shares of the asset manager’s stock valued at $202,768,000 after purchasing an additional 47,998 shares in the last quarter. Finally, Daiwa Securities Group Inc. lifted its holdings in T. Rowe Price Group by 11.0% during the 3rd quarter. Daiwa Securities Group Inc. now owns 27,122 shares of the asset manager’s stock worth $2,954,000 after buying an additional 2,688 shares in the last quarter. Hedge funds and other institutional investors own 73.39% of the company’s stock.

Wall Street Analyst Weigh In

TROW has been the topic of a number of recent research reports. Barclays upped 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. Deutsche Bank Aktiengesellschaft boosted their target price on T. Rowe Price Group from $115.00 to $120.00 and gave the stock a “hold” rating in a research report on Monday, November 11th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $120.00 price target (down previously from $121.00) on shares of T. Rowe Price Group in a research note on Monday, July 29th. Wells Fargo & Company raised their target price on shares of T. Rowe Price Group from $109.00 to $112.00 and gave the company an “equal weight” rating in a report on Wednesday, October 9th. Finally, JPMorgan Chase & Co. lowered 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 report on Monday, November 4th. Four equities research analysts have rated the stock with a sell rating and eight have given a hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $115.55.

Insiders Place Their Bets

In other news, insider Jessica M. Hiebler sold 484 shares of T. Rowe Price Group stock in a transaction that occurred on 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 trade represents a 3.36 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 transaction of $1,230,772.27. Following the sale, the vice president now owns 123,624 shares of the company’s stock, valued at approximately $12,712,255.92. The trade was a 8.83 % decrease in their position. The disclosure for this sale can be found here. 2.00% of the stock is owned by company insiders.

T. Rowe Price Group Price Performance

NASDAQ:TROW opened at $122.97 on Tuesday. The firm has a 50-day moving average of $112.54 and a two-hundred day moving average of $112.52. The stock has a market cap of $27.32 billion, a P/E ratio of 13.45, a PEG ratio of 1.70 and a beta of 1.41. T. Rowe Price Group, Inc. has a 1-year low of $96.48 and a 1-year high of $123.29.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings data on Friday, November 1st. The asset manager reported $2.57 earnings per share for the quarter, beating analysts’ consensus estimates of $2.36 by $0.21. T. Rowe Price Group had a return on equity of 20.35% and a net margin of 30.35%. The firm had revenue of $1.79 billion during the quarter, compared to analyst estimates of $1.84 billion. During the same quarter last year, the firm earned $2.17 EPS. T. Rowe Price Group’s quarterly revenue was up 6.9% on a year-over-year basis. As a group, equities analysts expect that T. Rowe Price Group, Inc. will post 9.33 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be paid 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 4.03%. T. Rowe Price Group’s dividend payout ratio (DPR) is 54.27%.

T. Rowe Price Group Company Profile

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.