Rodgers Brothers Inc. reduced its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 67.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,400 shares of the asset manager’s stock after selling 5,003 shares during the quarter. Rodgers Brothers Inc.’s holdings in T. Rowe Price Group were worth $218,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Alpha Cubed Investments LLC purchased a new position in shares of T. Rowe Price Group in the third quarter worth $256,000. Reliance Trust Co. of Delaware purchased a new position in shares of T. Rowe Price Group in the third quarter worth $304,000. JPMorgan Chase & Co. lifted its holdings in shares of T. Rowe Price Group by 1.3% in the second quarter. JPMorgan Chase & Co. now owns 11,756,348 shares of the asset manager’s stock worth $872,439,000 after buying an additional 156,326 shares in the last quarter. Ffcm LLC lifted its holdings in shares of T. Rowe Price Group by 6.4% in the second quarter. Ffcm LLC now owns 37,660 shares of the asset manager’s stock worth $2,795,000 after buying an additional 2,261 shares in the last quarter. Finally, OLD Point Trust & Financial Services N A lifted its holdings in shares of T. Rowe Price Group by 11.6% in the third quarter. OLD Point Trust & Financial Services N A now owns 15,334 shares of the asset manager’s stock worth $1,390,000 after buying an additional 1,600 shares in the last quarter. Institutional investors and hedge funds own 72.60% of the company’s stock.

Shares of T. Rowe Price Group, Inc. (NASDAQ TROW) traded up $1.43 on Wednesday, hitting $97.73. 1,566,700 shares of the stock traded hands, compared to its average volume of 1,670,884. T. Rowe Price Group, Inc. has a 1-year low of $65.33 and a 1-year high of $97.84. The stock has a market capitalization of $23,334.45, a P/E ratio of 18.81, a P/E/G ratio of 1.77 and a beta of 1.29.

T. Rowe Price Group (NASDAQ:TROW) last announced its earnings results on Thursday, October 26th. The asset manager reported $1.56 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.36 by $0.20. T. Rowe Price Group had a net margin of 33.10% and a return on equity of 24.76%. The business had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.22 billion. During the same quarter in the prior year, the firm posted $1.17 earnings per share. The business’s revenue for the quarter was up 11.8% on a year-over-year basis. analysts expect that T. Rowe Price Group, Inc. will post 5.29 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 28th. Stockholders of record on Thursday, December 14th will be paid a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 2.33%. The ex-dividend date is Wednesday, December 13th. T. Rowe Price Group’s dividend payout ratio is currently 37.38%.

In other news, insider Jessica M. Hiebler sold 1,000 shares of the stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $84.29, for a total value of $84,290.00. Following the sale, the insider now owns 8,461 shares of the company’s stock, valued at $713,177.69. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Anne M. Whittemore sold 4,163 shares of the stock in a transaction on Friday, September 29th. The shares were sold at an average price of $90.64, for a total transaction of $377,334.32. Following the completion of the sale, the director now directly owns 29,070 shares in the company, valued at approximately $2,634,904.80. The disclosure for this sale can be found here. In the last three months, insiders sold 18,204 shares of company stock worth $1,640,922. Insiders own 3.60% of the company’s stock.

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Several equities analysts have recently commented on the stock. Citigroup Inc. boosted their target price on shares of T. Rowe Price Group from $94.00 to $95.00 and gave the stock a “neutral” rating in a report on Friday, October 27th. Barclays PLC boosted their target price on shares of T. Rowe Price Group from $79.00 to $84.00 and gave the stock an “underweight” rating in a report on Friday, October 27th. UBS AG boosted their target price on shares of T. Rowe Price Group from $69.00 to $72.00 and gave the stock a “sell” rating in a report on Friday, October 27th. Jefferies Group LLC reissued a “buy” rating and issued a $104.00 target price (up previously from $96.00) on shares of T. Rowe Price Group in a report on Tuesday, October 10th. Finally, Morgan Stanley raised shares of T. Rowe Price Group from an “underweight” rating to an “equal” rating and upped their price target for the company from $77.00 to $93.00 in a research note on Thursday, October 5th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $89.50.

About T. Rowe Price Group

T. Rowe Price Group, Inc is a financial services holding company. The Company provides global investment management services through its subsidiaries to investors across the world. The Company provides an array of Company sponsored the United States mutual funds, other sponsored pooled investment vehicles, sub advisory services, separate account management, recordkeeping, and related services to individuals, advisors, institutions, financial intermediaries and retirement plan sponsors.

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

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