Westpac Banking Corp cut its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 19.0% during the third quarter, Holdings Channel reports. The institutional investor owned 14,672 shares of the company’s stock after selling 3,433 shares during the period. Westpac Banking Corp’s holdings in T. Rowe Price Group were worth $976,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Euclid Advisors LLC bought a new position in shares of T. Rowe Price Group during the second quarter worth approximately $123,000. Quadrant Capital Group LLC boosted its position in shares of T. Rowe Price Group by 2.5% in the second quarter. Quadrant Capital Group LLC now owns 1,711 shares of the company’s stock worth $119,000 after buying an additional 42 shares in the last quarter. WFG Advisors LP boosted its position in shares of T. Rowe Price Group by 22.2% in the second quarter. WFG Advisors LP now owns 1,870 shares of the company’s stock worth $136,000 after buying an additional 340 shares in the last quarter. Checchi Capital Advisers LLC boosted its position in shares of T. Rowe Price Group by 0.9% in the second quarter. Checchi Capital Advisers LLC now owns 1,958 shares of the company’s stock worth $143,000 after buying an additional 18 shares in the last quarter. Finally, Van ECK Associates Corp boosted its position in shares of T. Rowe Price Group by 27.2% in the second quarter. Van ECK Associates Corp now owns 2,634 shares of the company’s stock worth $192,000 after buying an additional 564 shares in the last quarter. 69.74% of the stock is currently owned by institutional investors.

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

Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) traded up 0.20% during mid-day trading on Friday, reaching $73.68. 876,183 shares of the company’s stock traded hands. The stock has a market capitalization of $17.94 billion, a PE ratio of 16.62 and a beta of 1.29. T. Rowe Price Group, Inc. has a 12-month low of $62.97 and a 12-month high of $79.00. The company’s 50-day moving average price is $75.76 and its 200-day moving average price is $70.48.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings results on Thursday, October 27th. The company reported $1.17 earnings per share for the quarter, missing the consensus estimate of $1.18 by $0.01. T. Rowe Price Group had a return on equity of 24.78% and a net margin of 26.71%. The company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.08 billion. During the same quarter last year, the company earned $1.06 EPS. The firm’s revenue for the quarter was up 4.1% on a year-over-year basis. Analysts anticipate that T. Rowe Price Group, Inc. will post $4.47 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Thursday, December 29th. Investors of record on Thursday, December 15th were given a dividend of $0.54 per share. The ex-dividend date of this dividend was Tuesday, December 13th. This represents a $2.16 annualized dividend and a dividend yield of 2.93%. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 49.54%.

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TROW has been the subject of a number of analyst reports. Zacks Investment Research lowered T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Tuesday, October 18th. UBS AG upgraded T. Rowe Price Group from a “neutral” rating to a “buy” rating and increased their price target for the stock from $66.00 to $82.00 in a research note on Thursday, November 10th. Citigroup Inc. reiterated a “neutral” rating on shares of T. Rowe Price Group in a research note on Sunday, October 30th. J P Morgan Chase & Co reiterated an “underweight” rating on shares of T. Rowe Price Group in a research note on Thursday. Finally, Barclays PLC cut their price target on T. Rowe Price Group from $72.00 to $68.00 and set an “equal weight” rating for the company in a research note on Thursday, October 13th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the stock. T. Rowe Price Group presently has an average rating of “Hold” and an average target price of $74.54.

In related news, VP Edward A. Wiese sold 3,000 shares of the company’s stock in a transaction dated Tuesday, December 13th. The shares were sold at an average price of $76.12, for a total transaction of $228,360.00. Following the completion of the sale, the vice president now owns 150,898 shares of the company’s stock, valued at approximately $11,486,355.76. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Christopher D. Alderson sold 133,244 shares of the company’s stock in a transaction dated Tuesday, December 20th. The shares were sold at an average price of $77.67, for a total transaction of $10,349,061.48. Following the sale, the vice president now directly owns 190,473 shares of the company’s stock, valued at approximately $14,794,037.91. The disclosure for this sale can be found here. Corporate insiders own 3.60% of the company’s stock.

T. Rowe Price Group Company Profile

T. Rowe Price Group, Inc is a financial services holding company. The Company provides global investment management services to individual and institutional investors in the sponsored T. Rowe Price mutual funds distributed in the United States and other investment portfolios. It operates through investment advisory business segment.

5 Day Chart for NASDAQ:TROW

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