Girard Partners LTD. reduced its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 28.7% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,142 shares of the asset manager’s stock after selling 2,072 shares during the quarter. Girard Partners LTD.’s holdings in T. Rowe Price Group were worth $466,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in T. Rowe Price Group by 1.7% in the 2nd quarter. Vanguard Group Inc. now owns 16,576,728 shares of the asset manager’s stock valued at $1,230,159,000 after acquiring an additional 282,162 shares in the last quarter. BlackRock Inc. lifted its position in T. Rowe Price Group by 0.4% in the 2nd quarter. BlackRock Inc. now owns 16,440,056 shares of the asset manager’s stock valued at $1,220,017,000 after acquiring an additional 61,269 shares in the last quarter. State Street Corp lifted its position in T. Rowe Price Group by 1.9% in the 2nd quarter. State Street Corp now owns 14,511,636 shares of the asset manager’s stock valued at $1,076,913,000 after acquiring an additional 273,036 shares in the last quarter. JPMorgan Chase & Co. lifted its position in T. Rowe Price Group by 1.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 11,756,348 shares of the asset manager’s stock valued at $872,439,000 after acquiring an additional 156,326 shares in the last quarter. Finally, Capital World Investors lifted its position in T. Rowe Price Group by 235.0% in the 2nd quarter. Capital World Investors now owns 10,512,236 shares of the asset manager’s stock valued at $780,113,000 after acquiring an additional 7,373,953 shares in the last quarter. 72.60% of the stock is currently owned by hedge funds and other institutional investors.

In other news, insider Jessica M. Hiebler sold 1,000 shares of the company’s stock in a transaction on Thursday, August 31st. The stock was sold at an average price of $84.29, for a total value of $84,290.00. Following the completion of the sale, the insider now directly owns 8,461 shares in the company, valued at approximately $713,177.69. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Kenneth V. Moreland sold 13,041 shares of the company’s stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $90.43, for a total value of $1,179,297.63. Following the completion of the sale, the chief financial officer now owns 135,028 shares of the company’s stock, valued at $12,210,582.04. The disclosure for this sale can be found here. Insiders sold a total of 18,204 shares of company stock valued at $1,640,922 over the last 90 days. 3.60% of the stock is currently owned by company insiders.

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TROW has been the topic of several analyst reports. Barclays PLC initiated coverage on T. Rowe Price Group in a research report on Friday, September 8th. They issued an “underweight” rating and a $79.00 price objective on the stock. Jefferies Group LLC reaffirmed a “buy” rating and issued a $96.00 price objective on shares of T. Rowe Price Group in a research report on Sunday, August 20th. Morgan Stanley raised T. Rowe Price Group from an “underweight” rating to an “equal” rating and upped their price objective for the company from $77.00 to $93.00 in a research report on Thursday, October 5th. Zacks Investment Research raised T. Rowe Price Group from a “hold” rating to a “buy” rating and set a $98.00 price objective on the stock in a research report on Tuesday, September 26th. Finally, Goldman Sachs Group, Inc. (The) raised T. Rowe Price Group from a “neutral” rating to a “buy” rating and upped their price objective for the company from $85.00 to $100.00 in a research report on Thursday, September 28th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. T. Rowe Price Group presently has an average rating of “Hold” and a consensus price target of $89.50.

T. Rowe Price Group, Inc. (TROW) traded up $0.45 during midday trading on Monday, hitting $95.98. The stock had a trading volume of 839,800 shares, compared to its average volume of 1,674,103. The company has a market cap of $23,256.91, a PE ratio of 18.75, a price-to-earnings-growth ratio of 1.76 and a beta of 1.29. T. Rowe Price Group, Inc. has a 12-month low of $65.33 and a 12-month high of $97.35.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings data on Thursday, October 26th. The asset manager reported $1.56 EPS for the quarter, topping the consensus estimate of $1.36 by $0.20. The firm had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.22 billion. T. Rowe Price Group had a return on equity of 24.76% and a net margin of 33.10%. T. Rowe Price Group’s revenue was up 11.8% on a year-over-year basis. During the same period in the prior year, the business posted $1.17 EPS. research analysts anticipate that T. Rowe Price Group, Inc. will post 5.29 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 28th. Stockholders of record on Thursday, December 14th will be paid a $0.57 dividend. The ex-dividend date of this dividend is Wednesday, December 13th. This represents a $2.28 annualized dividend and a dividend yield of 2.38%. T. Rowe Price Group’s dividend payout ratio (DPR) is 37.38%.

T. Rowe Price Group 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.

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

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