Los Angeles Capital Management & Equity Research Inc. lowered its holdings in T. Rowe Price Group Inc (NASDAQ:TROW) by 11.6% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 165,750 shares of the asset manager’s stock after selling 21,770 shares during the period. Los Angeles Capital Management & Equity Research Inc. owned about 0.07% of T. Rowe Price Group worth $18,097,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. BlackRock Inc. raised its position in shares of T. Rowe Price Group by 2.2% during the 2nd quarter. BlackRock Inc. now owns 17,346,810 shares of the asset manager’s stock worth $2,013,792,000 after purchasing an additional 368,297 shares during the period. Massachusetts Financial Services Co. MA increased its position in T. Rowe Price Group by 0.3% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,561,756 shares of the asset manager’s stock valued at $413,484,000 after acquiring an additional 10,433 shares during the period. Bank of America Corp DE increased its position in T. Rowe Price Group by 10.2% in the 2nd quarter. Bank of America Corp DE now owns 2,545,305 shares of the asset manager’s stock valued at $295,485,000 after acquiring an additional 236,487 shares during the period. MERIAN GLOBAL INVESTORS UK Ltd increased its position in T. Rowe Price Group by 9.6% in the 3rd quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 2,297,776 shares of the asset manager’s stock valued at $250,871,000 after acquiring an additional 201,553 shares during the period. Finally, Bank of New York Mellon Corp increased its position in T. Rowe Price Group by 0.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,116,400 shares of the asset manager’s stock valued at $245,692,000 after acquiring an additional 8,164 shares during the period. 70.99% of the stock is owned by hedge funds and other institutional investors.

Several research firms recently commented on TROW. Zacks Investment Research cut T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Monday, October 29th. Citigroup lowered their target price on T. Rowe Price Group from $113.00 to $105.00 and set a “hold” rating on the stock in a research report on Monday, October 29th. Credit Suisse Group lowered their target price on T. Rowe Price Group from $161.00 to $123.00 and set an “outperform” rating on the stock in a research report on Friday, October 26th. Wells Fargo & Co lowered their target price on T. Rowe Price Group from $115.00 to $106.00 and set a “market perform” rating on the stock in a research report on Friday, October 26th. Finally, Barclays lowered their target price on T. Rowe Price Group from $114.00 to $95.00 and set an “underweight” rating on the stock in a research report on Friday, October 26th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $114.11.

TROW opened at $98.48 on Friday. T. Rowe Price Group Inc has a 12 month low of $92.01 and a 12 month high of $127.43. The company has a market capitalization of $24.43 billion, a P/E ratio of 14.26, a price-to-earnings-growth ratio of 1.16 and a beta of 1.21.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings results on Thursday, October 25th. The asset manager reported $2.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.93 by $0.37. T. Rowe Price Group had a return on equity of 29.52% and a net margin of 33.98%. The company had revenue of $1.39 billion for the quarter, compared to analysts’ expectations of $1.38 billion. During the same period last year, the firm earned $1.56 EPS. Equities analysts anticipate that T. Rowe Price Group Inc will post 7.37 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 28th. Stockholders of record on Friday, December 14th will be given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 2.84%. The ex-dividend date is Thursday, December 13th. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 51.57%.

TRADEMARK VIOLATION WARNING: This story was originally posted by Daily Political and is the sole property of of Daily Political. If you are accessing this story on another website, it was illegally copied and reposted in violation of U.S. & international copyright & trademark legislation. The correct version of this story can be viewed at https://www.dailypolitical.com/2018/11/10/los-angeles-capital-management-equity-research-inc-has-18-10-million-position-in-t-rowe-price-group-inc-trow.html.

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.

Further Reading: How to calculate the intrinsic value of a stock

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

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