T. Rowe Price Group, Inc. (NASDAQ:TROW) Short Interest Update

T. Rowe Price Group, Inc. (NASDAQ:TROW) was the target of a significant increase in short interest during the month of December. As of December 15th, there was short interest totaling 22,306,663 shares, an increase of 33.5% from the November 30th total of 16,706,147 shares. Based on an average daily volume of 1,925,402 shares, the short-interest ratio is currently 11.6 days. Currently, 10.4% of the shares of the stock are sold short. Currently, 10.4% of the shares of the stock are sold short. Based on an average daily volume of 1,925,402 shares, the short-interest ratio is currently 11.6 days.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on TROW shares. JPMorgan Chase & Co. lifted their price target on T. Rowe Price Group from $109.00 to $111.00 and gave the stock an “underweight” rating in a research note on Monday, November 3rd. Barclays upped their price target on shares of T. Rowe Price Group from $101.00 to $102.00 and gave the company an “underweight” rating in a research report on Friday, December 12th. The Goldman Sachs Group reduced their price objective on T. Rowe Price Group from $98.00 to $93.00 and set a “sell” rating for the company in a research note on Tuesday, November 25th. Deutsche Bank Aktiengesellschaft lowered their target price on T. Rowe Price Group from $113.00 to $106.00 and set a “hold” rating on the stock in a research note on Wednesday, December 17th. Finally, Keefe, Bruyette & Woods decreased their price target on shares of T. Rowe Price Group from $117.00 to $115.00 and set a “market perform” rating for the company in a report on Tuesday, December 16th. Twelve equities research analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce” and an average price target of $108.31.

T. Rowe Price Group Stock Performance

Shares of TROW traded down $0.67 during trading hours on Tuesday, hitting $103.86. 256,066 shares of the company were exchanged, compared to its average volume of 1,733,640. The company has a market cap of $22.67 billion, a PE ratio of 11.32, a PEG ratio of 2.83 and a beta of 1.53. The firm’s 50 day moving average is $102.90 and its 200-day moving average is $103.28. T. Rowe Price Group has a 52 week low of $77.85 and a 52 week high of $118.32.

T. Rowe Price Group (NASDAQ:TROW) last announced its earnings results on Friday, October 31st. The asset manager reported $2.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.55 by $0.26. The firm had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.88 billion. T. Rowe Price Group had a return on equity of 19.95% and a net margin of 28.89%.The company’s revenue was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.57 earnings per share. As a group, equities analysts forecast that T. Rowe Price Group will post 9.29 earnings per share for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Monday, December 15th will be issued a $1.27 dividend. The ex-dividend date of this dividend is Monday, December 15th. This represents a $5.08 dividend on an annualized basis and a dividend yield of 4.9%. T. Rowe Price Group’s dividend payout ratio is presently 55.34%.

Insiders Place Their Bets

In other T. Rowe Price Group news, VP Arif Husain sold 4,260 shares of T. Rowe Price Group stock in a transaction that occurred on Wednesday, December 10th. The shares were sold at an average price of $101.96, for a total value of $434,349.60. Following the transaction, the vice president owned 47,102 shares in the company, valued at approximately $4,802,519.92. The trade was a 8.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.60% of the company’s stock.

Institutional Trading of T. Rowe Price Group

A number of large investors have recently bought and sold shares of the stock. First Trust Advisors LP boosted its stake in shares of T. Rowe Price Group by 137.7% in the 2nd quarter. First Trust Advisors LP now owns 3,441,458 shares of the asset manager’s stock valued at $332,101,000 after purchasing an additional 1,993,920 shares in the last quarter. Norges Bank bought a new position in T. Rowe Price Group during the 2nd quarter valued at about $82,756,000. Caisse de depot et placement du Quebec boosted its position in T. Rowe Price Group by 81.0% in the third quarter. Caisse de depot et placement du Quebec now owns 1,306,922 shares of the asset manager’s stock valued at $134,142,000 after buying an additional 584,949 shares in the last quarter. ARGA Investment Management LP grew its stake in T. Rowe Price Group by 3,807.3% during the second quarter. ARGA Investment Management LP now owns 477,161 shares of the asset manager’s stock worth $46,046,000 after buying an additional 464,949 shares during the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of T. Rowe Price Group during the second quarter worth approximately $37,722,000. 73.39% of the stock is currently owned by institutional investors.

T. Rowe Price Group Company Profile

T. Rowe Price Group, Inc is a global investment management firm headquartered in Baltimore, Maryland, founded by Thomas Rowe Price Jr. in 1937. The company provides a broad range of investment products and services for individual investors, financial intermediaries, retirement plan sponsors and institutional clients. Its offerings are built around active investment management and in-house research across equity, fixed income and multi-asset strategies, reflecting a long history as a research-driven asset manager.

The firm’s product lineup includes mutual funds, separate accounts, collective investment trusts, target-date and target-risk funds, and managed account solutions, as well as services for defined contribution and defined benefit retirement plans.