Zions Bancorporation lessened its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 42.2% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 7,295 shares of the asset manager’s stock after selling 5,330 shares during the quarter. Zions Bancorporation’s holdings in T. Rowe Price Group were worth $662,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in T. Rowe Price Group by 1.7% in the 2nd quarter. Vanguard Group Inc. now owns 16,576,728 shares of the asset manager’s stock valued at $1,230,159,000 after buying an additional 282,162 shares during the period. BlackRock Inc. increased its stake in T. Rowe Price Group by 0.4% in the 2nd quarter. BlackRock Inc. now owns 16,440,056 shares of the asset manager’s stock valued at $1,220,017,000 after buying an additional 61,269 shares during the period. State Street Corp increased its stake in T. Rowe Price Group by 1.9% in the 2nd quarter. State Street Corp now owns 14,511,636 shares of the asset manager’s stock valued at $1,076,913,000 after buying an additional 273,036 shares during the period. JPMorgan Chase & Co. increased its stake in T. Rowe Price Group by 1.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 11,974,559 shares of the asset manager’s stock valued at $1,079,267,000 after buying an additional 218,211 shares during the period. Finally, Capital World Investors increased its stake in T. Rowe Price Group by 235.0% in the 2nd quarter. Capital World Investors now owns 10,512,236 shares of the asset manager’s stock valued at $780,113,000 after buying an additional 7,373,953 shares during the period. Hedge funds and other institutional investors own 72.21% of the company’s stock.

T. Rowe Price Group, Inc. (NASDAQ TROW) opened at $102.75 on Monday. T. Rowe Price Group, Inc. has a 12 month low of $65.33 and a 12 month high of $104.40. The company has a market cap of $24,897.35, a price-to-earnings ratio of 20.07, a PEG ratio of 1.89 and a beta of 1.32.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings results on Thursday, October 26th. The asset manager reported $1.56 EPS for the quarter, topping 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 company had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.22 billion. During the same quarter in the prior year, the business posted $1.17 EPS. T. Rowe Price Group’s quarterly revenue was up 11.8% on a year-over-year basis. equities research analysts forecast that T. Rowe Price Group, Inc. will post 5.29 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 28th. Investors of record on Thursday, December 14th will be paid a $0.57 dividend. The ex-dividend date is Wednesday, December 13th. This represents a $2.28 dividend on an annualized basis and a yield of 2.22%. T. Rowe Price Group’s payout ratio is presently 37.38%.

In related news, CFO Kenneth V. Moreland sold 15,082 shares of the firm’s stock in a transaction on Tuesday, November 28th. The shares were sold at an average price of $99.44, for a total value of $1,499,754.08. Following the transaction, the chief financial officer now directly owns 110,182 shares in the company, valued at approximately $10,956,498.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP W. Sharps Robert sold 5,000 shares of the firm’s stock in a transaction on Monday, November 27th. The shares were sold at an average price of $98.64, for a total transaction of $493,200.00. The disclosure for this sale can be found here. Insiders sold a total of 81,705 shares of company stock worth $7,861,938 over the last quarter. 3.60% of the stock is currently owned by company insiders.

TROW has been the topic of several research reports. Zacks Investment Research upgraded shares of T. Rowe Price Group from a “hold” rating to a “buy” rating and set a $93.00 price objective on the stock in a research note on Tuesday, September 12th. Jefferies Group restated a “buy” rating and set a $96.00 price target on shares of T. Rowe Price Group in a research note on Sunday, August 20th. Goldman Sachs Group upgraded shares of T. Rowe Price Group from a “neutral” rating to a “buy” rating and increased their price target for the stock from $85.00 to $100.00 in a research note on Thursday, September 28th. Morgan Stanley upgraded shares of T. Rowe Price Group from an “underweight” rating to an “equal” rating and increased their price target for the stock from $77.00 to $93.00 in a research note on Thursday, October 5th. Finally, Citigroup increased their price target on shares of T. Rowe Price Group from $94.00 to $95.00 and gave the stock a “neutral” rating in a research note on Friday, October 27th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $89.67.

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T. Rowe Price Group Profile

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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