Lowe Brockenbrough & Co. Inc. trimmed its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 2.9% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 25,387 shares of the asset manager’s stock after selling 760 shares during the quarter. Lowe Brockenbrough & Co. Inc.’s holdings in T. Rowe Price Group were worth $2,301,000 as of its most recent filing with the SEC.

Other institutional investors also recently added to or reduced their stakes in the company. Alpha Cubed Investments LLC purchased a new stake in T. Rowe Price Group in the third quarter valued at approximately $256,000. JPMorgan Chase & Co. grew its holdings in T. Rowe Price Group by 1.3% in the second quarter. JPMorgan Chase & Co. now owns 11,756,348 shares of the asset manager’s stock valued at $872,439,000 after purchasing an additional 156,326 shares during the period. Reliance Trust Co. of Delaware purchased a new stake in T. Rowe Price Group in the third quarter valued at approximately $304,000. Ffcm LLC grew its holdings in T. Rowe Price Group by 6.4% in the second quarter. Ffcm LLC now owns 37,660 shares of the asset manager’s stock valued at $2,795,000 after purchasing an additional 2,261 shares during the period. Finally, OLD Point Trust & Financial Services N A grew its holdings in T. Rowe Price Group by 11.6% in the third quarter. OLD Point Trust & Financial Services N A now owns 15,334 shares of the asset manager’s stock valued at $1,390,000 after purchasing an additional 1,600 shares during the period. Hedge funds and other institutional investors own 72.28% of the company’s stock.

COPYRIGHT VIOLATION NOTICE: “T. Rowe Price Group, Inc. (TROW) Position Cut by Lowe Brockenbrough & Co. Inc.” was first published by Daily Political and is the property of of Daily Political. If you are accessing this story on another site, it was stolen and reposted in violation of US & international trademark and copyright law. The original version of this story can be read at https://www.dailypolitical.com/2017/11/17/t-rowe-price-group-inc-trow-position-cut-by-lowe-brockenbrough-co-inc.html.

T. Rowe Price Group, Inc. (NASDAQ:TROW) traded up $1.18 during midday trading on Friday, hitting $95.53. 981,400 shares of the stock were exchanged, compared to its average volume of 1,677,861. T. Rowe Price Group, Inc. has a twelve month low of $65.33 and a twelve month high of $97.35. The firm has a market capitalization of $23,150.00, a PE ratio of 18.43, a P/E/G ratio of 1.73 and a beta of 1.28.

T. Rowe Price Group (NASDAQ:TROW) last posted its earnings results on Thursday, October 26th. The asset manager reported $1.56 EPS for the quarter, topping analysts’ consensus estimates of $1.36 by $0.20. T. Rowe Price Group had a net margin of 33.10% and a return on equity of 24.76%. The business had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.22 billion. During the same period in the previous year, the company posted $1.17 earnings per share. The business’s revenue for the quarter was up 11.8% compared to the same quarter last year. sell-side analysts expect that T. Rowe Price Group, Inc. will post 5.29 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 28th. Stockholders of record on Thursday, December 14th will be given a dividend of $0.57 per share. The ex-dividend date of this dividend is Wednesday, December 13th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.39%. T. Rowe Price Group’s payout ratio is currently 37.32%.

In other news, CFO Kenneth V. Moreland sold 13,041 shares of the business’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $90.43, for a total transaction of $1,179,297.63. Following the transaction, the chief financial officer now directly owns 135,028 shares of the company’s stock, valued at $12,210,582.04. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Anne M. Whittemore sold 4,163 shares of the business’s stock in a transaction on Friday, September 29th. The stock was sold at an average price of $90.64, for a total transaction of $377,334.32. Following the transaction, the director now directly owns 29,070 shares in the company, valued at $2,634,904.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 18,204 shares of company stock worth $1,640,922. Corporate insiders own 3.60% of the company’s stock.

A number of equities research analysts recently issued reports on TROW shares. Jefferies Group LLC restated a “buy” rating and issued a $104.00 target price (up from $96.00) on shares of T. Rowe Price Group in a report on Tuesday, October 10th. ValuEngine upgraded shares of T. Rowe Price Group from a “hold” rating to a “buy” rating in a report on Wednesday, August 2nd. Zacks Investment Research downgraded shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Wednesday, September 13th. Wells Fargo & Company restated a “market perform” rating on shares of T. Rowe Price Group in a report on Thursday, July 27th. Finally, Barclays PLC assumed coverage on shares of T. Rowe Price Group in a report on Friday, September 8th. They issued an “underweight” rating and a $79.00 target price for the company. Three investment analysts have rated the stock with a sell rating, five have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. T. Rowe Price Group presently has an average rating of “Hold” and a consensus target price of $89.50.

T. Rowe Price Group Company Profile

T. Rowe Price Group, Inc is a financial services holding company. The Company provides global investment management services through its subsidiaries to investors across the world. The Company provides an array of Company sponsored the United States mutual funds, other sponsored pooled investment vehicles, sub advisory services, separate account management, recordkeeping, and related services to individuals, advisors, institutions, financial intermediaries and retirement plan sponsors.

Institutional Ownership by Quarter for T. Rowe Price Group (NASDAQ:TROW)

Receive News & Ratings for T. Rowe Price Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for T. Rowe Price Group Inc. and related companies with MarketBeat.com's FREE daily email newsletter.