L. Roy Papp & Associates LLP Reduces Stock Holdings in T. Rowe Price Group, Inc. $TROW

L. Roy Papp & Associates LLP lowered its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 27.8% in the 3rd quarter, Holdings Channel.com reports. The firm owned 90,822 shares of the asset manager’s stock after selling 35,004 shares during the quarter. T. Rowe Price Group makes up approximately 1.0% of L. Roy Papp & Associates LLP’s investment portfolio, making the stock its 27th largest position. L. Roy Papp & Associates LLP’s holdings in T. Rowe Price Group were worth $9,322,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. TD Waterhouse Canada Inc. raised its position in T. Rowe Price Group by 66.7% in the second quarter. TD Waterhouse Canada Inc. now owns 250 shares of the asset manager’s stock worth $25,000 after acquiring an additional 100 shares during the period. Vermillion & White Wealth Management Group LLC increased its stake in shares of T. Rowe Price Group by 120.0% in the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 319 shares of the asset manager’s stock worth $31,000 after purchasing an additional 174 shares in the last quarter. Atlantic Union Bankshares Corp bought a new position in T. Rowe Price Group in the 2nd quarter worth $35,000. Curio Wealth LLC raised its holdings in T. Rowe Price Group by 20,700.0% in the 2nd quarter. Curio Wealth LLC now owns 416 shares of the asset manager’s stock worth $40,000 after purchasing an additional 414 shares during the period. Finally, Cromwell Holdings LLC lifted its position in T. Rowe Price Group by 3,483.3% during the second quarter. Cromwell Holdings LLC now owns 430 shares of the asset manager’s stock valued at $41,000 after purchasing an additional 418 shares in the last quarter. Hedge funds and other institutional investors own 73.39% of the company’s stock.

Insider Buying and Selling

In other T. Rowe Price Group news, Director Robert F. Maclellan sold 3,090 shares of T. Rowe Price Group stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $105.01, for a total value of $324,480.90. Following the sale, the director owned 47,335 shares of the company’s stock, valued at $4,970,648.35. The trade was a 6.13% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Arif Husain sold 4,260 shares of the stock in a transaction that occurred on Wednesday, December 10th. The shares were sold at an average price of $101.96, for a total value of $434,349.60. Following the transaction, the vice president owned 47,102 shares of the company’s stock, valued at $4,802,519.92. This represents a 8.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 2.00% of the company’s stock.

T. Rowe Price Group Stock Performance

TROW stock opened at $103.28 on Friday. The company has a market capitalization of $22.54 billion, a PE ratio of 11.25, a price-to-earnings-growth ratio of 3.40 and a beta of 1.53. The company’s fifty day moving average price is $102.95 and its 200-day moving average price is $102.74. T. Rowe Price Group, Inc. has a one year low of $77.85 and a one year high of $118.32.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings data on Friday, October 31st. The asset manager reported $2.81 EPS for the quarter, beating the consensus estimate of $2.55 by $0.26. T. Rowe Price Group had a net margin of 28.89% and a return on equity of 19.95%. The business had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.88 billion. During the same quarter in the prior year, the firm earned $2.57 EPS. The business’s revenue was up 6.0% on a year-over-year basis. On average, research analysts predict that T. Rowe Price Group, Inc. will post 9.29 EPS for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Monday, December 15th will be issued a dividend of $1.27 per share. This represents a $5.08 annualized dividend and a yield of 4.9%. The ex-dividend date is Monday, December 15th. T. Rowe Price Group’s dividend payout ratio (DPR) is currently 55.34%.

Analyst Ratings Changes

A number of analysts have commented on the company. Citigroup upped their price target on T. Rowe Price Group from $105.00 to $107.00 in a research report on Monday, November 3rd. TD Cowen boosted their price objective on T. Rowe Price Group from $108.00 to $112.00 and gave the company a “hold” rating in a research note on Monday, November 3rd. Jefferies Financial Group increased their target price on shares of T. Rowe Price Group from $104.00 to $106.00 and gave the stock a “hold” rating in a report on Tuesday, October 7th. JPMorgan Chase & Co. lifted their price target on shares of T. Rowe Price Group from $109.00 to $111.00 and gave the company an “underweight” rating in a report on Monday, November 3rd. Finally, Zacks Research cut shares of T. Rowe Price Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 9th. Twelve equities research analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat.com, T. Rowe Price Group presently has a consensus rating of “Reduce” and a consensus price target of $108.31.

T. Rowe Price Group Profile

T. Rowe Price Group, Inc is a global investment management firm headquartered in Baltimore, Maryland, founded by Thomas Rowe Price Jr. in 1937. The company provides a broad range of investment products and services for individual investors, financial intermediaries, retirement plan sponsors and institutional clients. Its offerings are built around active investment management and in-house research across equity, fixed income and multi-asset strategies, reflecting a long history as a research-driven asset manager.

The firm’s product lineup includes mutual funds, separate accounts, collective investment trusts, target-date and target-risk funds, and managed account solutions, as well as services for defined contribution and defined benefit retirement plans.