4,670 T. Rowe Price Group, Inc. $TROW Shares Sold by Confluence Wealth Services Inc.

Confluence Wealth Services Inc. cut its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 23.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 15,611 shares of the asset manager’s stock after selling 4,670 shares during the period. Confluence Wealth Services Inc.’s holdings in T. Rowe Price Group were worth $1,624,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. BlackRock Inc. acquired a new stake in T. Rowe Price Group in the second quarter valued at $2,728,119,000. State Street Corp raised its stake in shares of T. Rowe Price Group by 2.7% during the 2nd quarter. State Street Corp now owns 14,653,478 shares of the asset manager’s stock worth $1,665,954,000 after buying an additional 381,183 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of T. Rowe Price Group by 20.0% during the 2nd 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 worth $358,187,000 after buying an additional 524,544 shares during the last quarter. First Trust Advisors LP raised its stake in shares of T. Rowe Price Group by 12.6% during the 1st 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. Finally, Provident Trust Co. boosted its position in shares of T. Rowe Price Group by 0.4% in the 2nd quarter. Provident Trust Co. now owns 2,061,353 shares of the asset manager’s stock worth $234,355,000 after buying an additional 8,524 shares in the last quarter. 73.39% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have issued reports on TROW shares. Morgan Stanley lifted 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 report on Friday, October 23rd. TD Cowen lowered their price target on shares of T. Rowe Price Group from $109.00 to $96.00 and set a “hold” rating on the stock in a research report on Friday, October 30th. Evercore set a $109.00 price objective on shares of T. Rowe Price Group in a research note on Friday, October 9th. UBS Group initiated coverage on T. Rowe Price Group in a research report on Wednesday, October 7th. They set a “neutral” rating and a $107.00 price objective for the company. Finally, JPMorgan Chase & Co. increased their target price on T. Rowe Price Group from $106.00 to $107.00 and gave the company an “underweight” rating in a report on Friday, October 30th. One analyst has rated the stock with a Buy rating, ten have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus target price of $102.83.

Insiders Place Their Bets

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 stock was sold at an average price of $111.82, for a total transaction of $1,118,200.00. Following the transaction, the vice president owned 71,328 shares of the company’s stock, valued at $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 available through this link. Company insiders own 1.60% of the company’s stock.

T. Rowe Price Group Price Performance

Shares of NASDAQ TROW opened at $110.69 on Thursday. The company has a market cap of $23.61 billion, a PE ratio of 11.19, a price-to-earnings-growth ratio of 4.25 and a beta of 1.43. T. Rowe Price Group, Inc. has a 12 month low of $85.22 and a 12 month high of $122.00. The company has a 50-day simple moving average of $105.28 and a 200-day simple moving average of $103.84.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings data on Thursday, October 29th. The asset manager reported $2.86 earnings per share (EPS) for the quarter, beating the consensus estimate 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 quarter in the prior year, the firm posted $2.81 earnings per share. The company’s quarterly revenue was up 5.9% compared to the same quarter last year. On average, analysts anticipate that T. Rowe Price Group, Inc. will post 10.29 EPS for the current year.

T. Rowe Price Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 29th. Shareholders of record on Wednesday, December 16th will be issued a $1.30 dividend. The ex-dividend date is Wednesday, December 16th. This represents a $5.20 annualized dividend and a yield of 4.7%. T. Rowe Price Group’s payout ratio is 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.