T. Rowe Price Group, Inc. $TROW Stake Decreased by Confluence Investment Management LLC

Confluence Investment Management LLC lowered its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 4.4% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 894,846 shares of the asset manager’s stock after selling 41,563 shares during the quarter. T. Rowe Price Group makes up approximately 1.4% of Confluence Investment Management LLC’s portfolio, making the stock its 23rd largest holding. Confluence Investment Management LLC’s holdings in T. Rowe Price Group were worth $93,109,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in TROW. BlackRock Inc. bought a new position in shares of T. Rowe Price Group during the 2nd quarter valued at approximately $2,728,119,000. State Street Corp lifted its stake in T. Rowe Price Group by 2.7% in the second quarter. State Street Corp now owns 14,653,478 shares of the asset manager’s stock valued at $1,665,954,000 after purchasing an additional 381,183 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in T. Rowe Price Group by 332.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 8,770,071 shares of the asset manager’s stock valued at $897,880,000 after purchasing an additional 6,740,172 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in T. Rowe Price Group by 20.0% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,150,561 shares of the asset manager’s stock valued at $358,187,000 after purchasing an additional 524,544 shares during the period. Finally, First Trust Advisors LP increased its position in T. Rowe Price Group by 12.6% in the first quarter. First Trust Advisors LP now owns 3,694,171 shares of the asset manager’s stock worth $332,993,000 after buying an additional 413,317 shares during the last quarter. Institutional investors own 73.39% of the company’s stock.

T. Rowe Price Group Trading Up 1.7%

Shares of T. Rowe Price Group stock traded up $1.78 on Thursday, reaching $105.83. The stock had a trading volume of 749,037 shares, compared to its average volume of 2,063,698. The business’s 50 day moving average is $110.38 and its two-hundred day moving average is $105.53. T. Rowe Price Group, Inc. has a 1 year low of $85.22 and a 1 year high of $122.00. The company has a market cap of $22.57 billion, a P/E ratio of 10.62, a price-to-earnings-growth ratio of 3.46 and a beta of 1.46.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings results on Friday, July 31st. The asset manager reported $2.57 earnings per share for the quarter, topping the consensus estimate of $2.52 by $0.05. The firm had revenue of $1.91 billion for the quarter, compared to analysts’ expectations of $1.89 billion. T. Rowe Price Group had a net margin of 29.26% and a return on equity of 20.91%. The business’s quarterly revenue was up 10.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.24 earnings per share. On average, equities analysts anticipate that T. Rowe Price Group, Inc. will post 10.15 EPS for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 15th were issued a $1.30 dividend. The ex-dividend date was Tuesday, September 15th. This represents a $5.20 annualized dividend and a dividend yield of 4.9%. T. Rowe Price Group’s payout ratio is currently 52.16%.

Insider Activity at T. Rowe Price Group

In other news, VP Joshua Nelson sold 10,000 shares of the business’s stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $111.82, for a total value of $1,118,200.00. Following the completion of the sale, the vice president owned 71,328 shares of the company’s stock, valued at approximately $7,975,896.96. The trade was a 12.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 1.60% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on TROW. Barclays cut their price target on T. Rowe Price Group from $108.00 to $103.00 and set an “underweight” rating for the company in a research note on Monday, August 3rd. Morgan Stanley dropped their price objective on shares of T. Rowe Price Group from $116.00 to $110.00 and set an “equal weight” rating on the stock in a report on Friday, September 25th. Zacks Research downgraded shares of T. Rowe Price Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 13th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $109.00 price target on shares of T. Rowe Price Group in a research report on Monday, August 3rd. Finally, Weiss Ratings upgraded shares of T. Rowe Price Group from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, September 4th. One research analyst has rated the stock with a Buy rating, nine have assigned a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Reduce” and an average price target of $105.92.

T. Rowe Price Group Profile

T. Rowe Price Group, Inc is a global investment management firm headquartered in Baltimore, Maryland. The company provides investment strategies and related services to individual investors, retirement plans, financial intermediaries, institutions, and other clients.

Its offerings include actively managed mutual funds, exchange-traded funds, separately managed accounts, collective investment trusts, and other portfolio solutions. T. Rowe Price invests across equity, fixed-income, multi-asset, and alternative strategies, and also provides retirement planning, asset allocation, advisory, and investment research services.

Founded in 1937 by Thomas Rowe Price Jr., the company serves clients through operations and distribution relationships in the United States and international markets.