T. Rowe Price Group, Inc. $TROW Shares Sold by Carnegie Lake Advisors LLC

Carnegie Lake Advisors LLC lessened its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 96.9% during the 3rd quarter, Holdings Channel.com reports. The firm owned 312 shares of the asset manager’s stock after selling 9,688 shares during the period. Carnegie Lake Advisors LLC’s holdings in T. Rowe Price Group were worth $32,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Wealthcare Capital Partners LLC raised its holdings in shares of T. Rowe Price Group by 1.0% in the second quarter. Wealthcare Capital Partners LLC now owns 9,565 shares of the asset manager’s stock valued at $1,087,000 after buying an additional 93 shares during the last quarter. Kesler Norman & Wride LLC lifted its position in T. Rowe Price Group by 0.6% during the 2nd quarter. Kesler Norman & Wride LLC now owns 15,914 shares of the asset manager’s stock worth $1,809,000 after buying an additional 96 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its position in T. Rowe Price Group by 9.4% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,150 shares of the asset manager’s stock worth $131,000 after buying an additional 99 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its position in T. Rowe Price Group by 0.4% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 25,062 shares of the asset manager’s stock worth $2,259,000 after buying an additional 100 shares in the last quarter. Finally, Concorde Asset Management LLC lifted its position in T. Rowe Price Group by 3.9% during the 1st quarter. Concorde Asset Management LLC now owns 2,730 shares of the asset manager’s stock worth $246,000 after buying an additional 102 shares in the last quarter. 73.39% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other T. Rowe Price Group news, VP Joshua Nelson sold 10,000 shares of the stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $111.82, for a total value of $1,118,200.00. Following the sale, the vice president directly owned 71,328 shares in the company, valued at approximately $7,975,896.96. This trade represents a 12.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 1.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on TROW shares. Weiss Ratings raised shares of T. Rowe Price Group from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, September 4th. UBS Group started coverage on shares of T. Rowe Price Group in a research note on Wednesday, October 7th. They issued a “neutral” rating and a $107.00 target price for the company. TD Cowen dropped their target price on shares of T. Rowe Price Group from $109.00 to $96.00 and set a “hold” rating for the company in a research note on Friday, October 30th. Barclays reduced their target price on shares of T. Rowe Price Group from $103.00 to $102.00 and set an “underweight” rating on the stock in a research report on Wednesday, October 14th. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and set a $113.00 price target (up from $112.00) on shares of T. Rowe Price Group in a research note on Friday, October 30th. One investment analyst has rated the stock with a Buy rating, ten have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Reduce” and an average target price of $102.83.

T. Rowe Price Group Stock Performance

T. Rowe Price Group stock opened at $108.41 on Monday. The firm has a market capitalization of $23.13 billion, a P/E ratio of 10.96, a PEG ratio of 4.15 and a beta of 1.43. The business has a 50-day moving average of $105.26 and a 200-day moving average of $103.78. T. Rowe Price Group, Inc. has a 1 year low of $85.22 and a 1 year high of $122.00.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings results on Thursday, October 29th. The asset manager reported $2.86 earnings per share for the quarter, beating analysts’ consensus estimates of $2.63 by $0.23. T. Rowe Price Group had a net margin of 28.40% and a return on equity of 20.63%. The business had revenue of $2 billion for the quarter, compared to the consensus estimate of $1.98 billion. During the same period last year, the company posted $2.81 EPS. T. Rowe Price Group’s revenue for the quarter was up 5.9% on a year-over-year basis. Research analysts anticipate that T. Rowe Price Group, Inc. will post 10.29 EPS for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 29th. Shareholders of record on Wednesday, December 16th will be paid a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 4.8%. The ex-dividend date of this dividend is Wednesday, December 16th. T. Rowe Price Group’s dividend payout ratio is presently 52.58%.

T. Rowe Price Group Company Profile

T. Rowe Price Group is a global investment management firm that provides investment products and related services to individuals, retirement plans, institutions and financial intermediaries. Founded in 1937 by Thomas Rowe Price Jr., the company is headquartered in Baltimore, Maryland.

The firm manages a range of investment strategies, including equity, fixed-income and multi-asset portfolios. Its offerings include mutual funds, exchange-traded funds and separately managed accounts, as well as retirement-focused products and advisory services.

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