Stifel Financial Corp reduced its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 15.7% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 453,288 shares of the asset manager’s stock after selling 84,349 shares during the period. Stifel Financial Corp owned about 0.19% of T. Rowe Price Group worth $41,110,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Skandinaviska Enskilda Banken AB publ grew its holdings in shares of T. Rowe Price Group by 10.2% in the third quarter. Skandinaviska Enskilda Banken AB publ now owns 672,957 shares of the asset manager’s stock valued at $61,004,000 after acquiring an additional 62,100 shares in the last quarter. KBC Group NV grew its holdings in shares of T. Rowe Price Group by 7.7% in the third quarter. KBC Group NV now owns 25,926 shares of the asset manager’s stock valued at $2,350,000 after acquiring an additional 1,846 shares in the last quarter. Hartford Investment Management Co. grew its holdings in shares of T. Rowe Price Group by 0.9% in the third quarter. Hartford Investment Management Co. now owns 87,971 shares of the asset manager’s stock valued at $7,975,000 after acquiring an additional 757 shares in the last quarter. Sun Life Financial INC grew its holdings in shares of T. Rowe Price Group by 215.8% in the third quarter. Sun Life Financial INC now owns 5,571 shares of the asset manager’s stock valued at $505,000 after acquiring an additional 3,807 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. grew its holdings in shares of T. Rowe Price Group by 2.6% in the third quarter. Schwab Charles Investment Management Inc. now owns 1,246,962 shares of the asset manager’s stock valued at $113,038,000 after acquiring an additional 31,636 shares in the last quarter. 72.21% of the stock is owned by hedge funds and other institutional investors.

Several equities analysts have recently issued reports on TROW shares. Zacks Investment Research raised T. Rowe Price Group from a “hold” rating to a “buy” rating and set a $93.00 target price for the company in a report on Tuesday, September 12th. Jefferies Group reaffirmed a “buy” rating and issued a $96.00 target price on shares of T. Rowe Price Group in a report on Sunday, August 20th. Goldman Sachs Group raised T. Rowe Price Group from a “neutral” rating to a “buy” rating and upped their target price for the company from $85.00 to $100.00 in a report on Thursday, September 28th. Morgan Stanley upgraded 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 note on Thursday, October 5th. Finally, Citigroup upped their price objective on T. Rowe Price Group from $94.00 to $95.00 and gave the company a “neutral” rating in a research note on Friday, October 27th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. T. Rowe Price Group presently has an average rating of “Hold” and an average price target of $89.50.

In other T. Rowe Price Group news, CFO Kenneth V. Moreland sold 13,041 shares of the stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $90.43, for a total transaction of $1,179,297.63. Following the sale, the chief financial officer now owns 135,028 shares in the company, valued at $12,210,582.04. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP W. Sharps Robert sold 5,000 shares of the stock in a transaction on Monday, November 27th. The stock was sold at an average price of $98.64, for a total value of $493,200.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 81,705 shares of company stock worth $7,861,938. 3.60% of the stock is owned by company insiders.

T. Rowe Price Group, Inc. (NASDAQ TROW) opened at $102.79 on Monday. T. Rowe Price Group, Inc. has a 12 month low of $65.33 and a 12 month high of $103.85. The company has a market capitalization of $24,907.04, a P/E ratio of 20.08, a P/E/G ratio of 1.89 and a beta of 1.32.

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, beating the consensus estimate of $1.36 by $0.20. T. Rowe Price Group had a return on equity of 24.76% and a net margin of 33.10%. The business had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.22 billion. During the same quarter in the prior year, the business earned $1.17 earnings per share. T. Rowe Price Group’s revenue for the quarter was up 11.8% on a year-over-year basis. analysts expect that T. Rowe Price Group, Inc. will post 5.29 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 28th. Investors of record on Thursday, December 14th will be paid a $0.57 dividend. The ex-dividend date is Wednesday, December 13th. This represents a $2.28 annualized dividend and a yield of 2.22%. T. Rowe Price Group’s payout ratio is 37.38%.

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About T. Rowe Price Group

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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