T. Rowe Price Group, Inc. (NASDAQ:TROW) Stake Lessened by Westpac Banking Corp

Westpac Banking Corp lessened its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 96.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 888 shares of the asset manager’s stock after selling 25,408 shares during the period. Westpac Banking Corp’s holdings in T. Rowe Price Group were worth $99,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. BlackRock Inc. boosted its holdings in T. Rowe Price Group by 18.3% in the first quarter. BlackRock Inc. now owns 21,766,218 shares of the asset manager’s stock worth $2,457,406,000 after purchasing an additional 3,365,883 shares during the period. Vanguard Group Inc. boosted its holdings in T. Rowe Price Group by 3.2% in the first quarter. Vanguard Group Inc. now owns 20,183,563 shares of the asset manager’s stock worth $3,051,553,000 after purchasing an additional 625,340 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in T. Rowe Price Group by 5.1% in the second quarter. Charles Schwab Investment Management Inc. now owns 4,765,262 shares of the asset manager’s stock worth $533,805,000 after purchasing an additional 231,862 shares during the period. Bank Julius Baer & Co. Ltd Zurich boosted its holdings in T. Rowe Price Group by 98,548.0% in the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 4,336,567 shares of the asset manager’s stock worth $485,782,000 after purchasing an additional 4,332,171 shares during the period. Finally, Victory Capital Management Inc. boosted its holdings in T. Rowe Price Group by 5.9% in the second quarter. Victory Capital Management Inc. now owns 3,425,827 shares of the asset manager’s stock worth $383,761,000 after purchasing an additional 191,602 shares during the period. Institutional investors own 75.85% of the company’s stock.

T. Rowe Price Group Trading Up 0.3 %

Shares of T. Rowe Price Group stock opened at $97.79 on Monday. The company’s 50-day moving average price is $100.22 and its two-hundred day moving average price is $107.68. T. Rowe Price Group, Inc. has a 52 week low of $87.43 and a 52 week high of $132.76. The stock has a market cap of $21.85 billion, a PE ratio of 13.93, a price-to-earnings-growth ratio of 2.21 and a beta of 1.32.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings results on Friday, October 27th. The asset manager reported $2.17 EPS for the quarter, topping the consensus estimate of $1.78 by $0.39. T. Rowe Price Group had a net margin of 25.50% and a return on equity of 18.79%. The firm had revenue of $1.67 billion for the quarter, compared to analysts’ expectations of $1.65 billion. During the same period in the previous year, the business earned $1.86 earnings per share. T. Rowe Price Group’s revenue for the quarter was up 5.2% compared to the same quarter last year. On average, equities analysts predict that T. Rowe Price Group, Inc. will post 7.36 EPS for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 15th will be given a $1.22 dividend. This represents a $4.88 annualized dividend and a yield of 4.99%. The ex-dividend date is Thursday, December 14th. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 69.52%.

Insiders Place Their Bets

In other T. Rowe Price Group news, VP Andrew C. Mccormick sold 5,040 shares of the business’s stock in a transaction dated Wednesday, September 27th. The stock was sold at an average price of $103.63, for a total transaction of $522,295.20. Following the sale, the vice president now owns 64,440 shares in the company, valued at approximately $6,677,917.20. The transaction was disclosed in a filing with the SEC, which is available through this link. In other T. Rowe Price Group news, insider William J. Stromberg sold 10,000 shares of the business’s stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $98.48, for a total transaction of $984,800.00. Following the sale, the insider now owns 49,000 shares in the company, valued at approximately $4,825,520. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Andrew C. Mccormick sold 5,040 shares of the business’s stock in a transaction dated Wednesday, September 27th. The stock was sold at an average price of $103.63, for a total value of $522,295.20. Following the sale, the vice president now owns 64,440 shares in the company, valued at approximately $6,677,917.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 27,039 shares of company stock worth $2,848,848. 2.10% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Morgan Stanley decreased their price objective on shares of T. Rowe Price Group from $109.00 to $101.00 and set an “equal weight” rating for the company in a report on Monday, October 30th. Wells Fargo & Company boosted their price target on shares of T. Rowe Price Group from $117.00 to $123.00 and gave the company an “equal weight” rating in a report on Monday, July 31st. Citigroup raised shares of T. Rowe Price Group from a “sell” rating to a “neutral” rating and reduced their price target for the company from $100.00 to $95.00 in a report on Tuesday, October 31st. UBS Group boosted their price target on shares of T. Rowe Price Group from $83.00 to $90.00 and gave the company a “sell” rating in a report on Monday, July 31st. Finally, The Goldman Sachs Group boosted their price target on shares of T. Rowe Price Group from $89.50 to $100.00 and gave the company a “sell” rating in a report on Monday, July 31st. Five equities research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, T. Rowe Price Group presently has a consensus rating of “Hold” and an average price target of $94.45.

About T. Rowe Price Group

T. Rowe Price Group, Inc is a publicly owned investment manager. The firm provides its services to individuals, institutional investors, retirement plans, financial intermediaries, and institutions. It launches and manages equity and fixed income mutual funds. The firm invests in the public equity and fixed income markets across the globe.