T. Rowe Price Group, Inc. $TROW Stock Position Lessened by GRIMES & Co WEALTH MANAGEMENT LLC

GRIMES & Co WEALTH MANAGEMENT LLC reduced its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 9.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 80,279 shares of the asset manager’s stock after selling 8,041 shares during the quarter. GRIMES & Co WEALTH MANAGEMENT LLC’s holdings in T. Rowe Price Group were worth $8,353,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Twin Tree Management LP bought a new stake in T. Rowe Price Group during the second quarter worth $2,989,000. Envestnet Portfolio Solutions Inc. lifted its stake in T. Rowe Price Group by 6.1% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 174,047 shares of the asset manager’s stock valued at $19,787,000 after acquiring an additional 10,077 shares in the last quarter. BlackRock Inc. bought a new position in T. Rowe Price Group during the 2nd quarter valued at $2,728,119,000. Sequoia Financial Advisors LLC boosted its holdings in T. Rowe Price Group by 90.9% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 17,284 shares of the asset manager’s stock worth $1,965,000 after acquiring an additional 8,230 shares during the last quarter. Finally, Sanctuary Advisors LLC purchased a new position in T. Rowe Price Group during the 2nd quarter worth $1,668,000. 73.39% of the stock is owned by institutional investors.

Insider Activity

In related news, VP Joshua Nelson sold 10,000 shares of the stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $111.82, for a total transaction of $1,118,200.00. Following the sale, the vice president owned 71,328 shares of the company’s stock, valued at approximately $7,975,896.96. This represents a 12.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.60% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Morgan Stanley upped their target price on shares of T. Rowe Price Group from $110.00 to $112.00 and gave the stock an “equal weight” rating in a research note on Friday, October 23rd. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $109.00 price target on shares of T. Rowe Price Group in a research report on Monday, August 3rd. UBS Group started coverage on shares of T. Rowe Price Group in a research report on Wednesday, October 7th. They set a “neutral” rating and a $107.00 price target on the stock. JPMorgan Chase & Co. upped their price objective on shares of T. Rowe Price Group from $106.00 to $107.00 and gave the stock an “underweight” rating in a research report on Friday. Finally, Zacks Research downgraded shares of T. Rowe Price Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 13th. One investment analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Reduce” and a consensus price target of $102.83.

T. Rowe Price Group Trading Up 1.9%

T. Rowe Price Group stock opened at $105.85 on Tuesday. The firm has a 50 day simple moving average of $105.54 and a 200 day simple moving average of $103.71. T. Rowe Price Group, Inc. has a 1-year low of $85.22 and a 1-year high of $122.00. The firm has a market capitalization of $22.58 billion, a price-to-earnings ratio of 10.70, a P/E/G ratio of 3.04 and a beta of 1.45.

T. Rowe Price Group (NASDAQ:TROW) last posted its earnings results on Thursday, October 29th. The asset manager reported $2.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.63 by $0.23. T. Rowe Price Group had a return on equity of 20.91% and a net margin of 29.26%. The firm had revenue of $2 billion for the quarter, compared to the consensus estimate of $1.98 billion. During the same quarter in the prior year, the business posted $2.81 earnings per share. The business’s quarterly revenue was up 5.9% on a year-over-year basis. On average, equities research analysts forecast that T. Rowe Price Group, Inc. will post 10.16 EPS for the current year.

T. Rowe Price Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th were paid a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.9%. The ex-dividend date was Tuesday, September 15th. T. Rowe Price Group’s payout ratio is presently 52.58%.

About T. Rowe Price Group

T. Rowe Price Group, Inc is a global investment management firm headquartered in Baltimore, Maryland. Founded in 1937 by Thomas Rowe Price Jr., the company provides investment strategies and advisory services to individual investors, retirement plans, financial intermediaries, institutions and other clients.

The company offers a range of actively managed and multi-asset investment products, including mutual funds, exchange-traded funds, separately managed accounts and other portfolio solutions.