Lowe Brockenbrough & Co. Inc. Sells 735 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Lowe Brockenbrough & Co. Inc. trimmed its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 5.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,578 shares of the asset manager’s stock after selling 735 shares during the period. Lowe Brockenbrough & Co. Inc.’s holdings in T. Rowe Price Group were worth $1,479,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in TROW. Keystone Financial Planning Inc. lifted its position in T. Rowe Price Group by 7.6% during the third quarter. Keystone Financial Planning Inc. now owns 69,846 shares of the asset manager’s stock worth $7,608,000 after purchasing an additional 4,914 shares during the period. Creative Financial Designs Inc. ADV lifted its holdings in shares of T. Rowe Price Group by 43.6% during the 3rd quarter. Creative Financial Designs Inc. ADV now owns 9,050 shares of the asset manager’s stock worth $986,000 after acquiring an additional 2,749 shares during the period. United Asset Strategies Inc. lifted its holdings in shares of T. Rowe Price Group by 10.2% during the 3rd quarter. United Asset Strategies Inc. now owns 11,103 shares of the asset manager’s stock worth $1,209,000 after acquiring an additional 1,027 shares during the period. Sippican Capital Advisors boosted its position in shares of T. Rowe Price Group by 7.0% during the 3rd quarter. Sippican Capital Advisors now owns 18,657 shares of the asset manager’s stock worth $2,032,000 after acquiring an additional 1,220 shares in the last quarter. Finally, JFS Wealth Advisors LLC increased its stake in T. Rowe Price Group by 560.5% in the third quarter. JFS Wealth Advisors LLC now owns 502 shares of the asset manager’s stock valued at $55,000 after acquiring an additional 426 shares during the last quarter. Institutional investors and hedge funds own 73.39% of the company’s stock.

Insider Transactions at T. Rowe Price Group

In related news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the company’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $102.83, for a total transaction of $1,230,772.27. Following the sale, the vice president now owns 123,624 shares in the company, valued at $12,712,255.92. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the firm’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $102.83, for a total value of $1,230,772.27. Following the completion of the sale, the vice president now directly owns 123,624 shares in the company, valued at approximately $12,712,255.92. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jessica M. Hiebler sold 484 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $104.73, for a total transaction of $50,689.32. Following the transaction, the insider now owns 13,939 shares in the company, valued at $1,459,831.47. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by corporate insiders.

T. Rowe Price Group Trading Up 2.0 %

Shares of TROW opened at $112.06 on Friday. The company has a market capitalization of $24.94 billion, a PE ratio of 13.23, a PEG ratio of 1.71 and a beta of 1.41. The stock’s 50-day moving average price is $108.32 and its two-hundred day moving average price is $111.69. T. Rowe Price Group, Inc. has a 12 month low of $90.02 and a 12 month high of $122.27.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings data on Friday, November 1st. The asset manager reported $2.57 EPS for the quarter, topping analysts’ consensus estimates of $2.36 by $0.21. The company had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.84 billion. T. Rowe Price Group had a return on equity of 19.90% and a net margin of 28.66%. The firm’s quarterly revenue was up 6.9% on a year-over-year basis. During the same period in the previous year, the firm earned $2.17 earnings per share. Equities research analysts predict that T. Rowe Price Group, Inc. will post 9.16 EPS for the current fiscal year.

T. Rowe Price Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be given a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a dividend yield of 4.43%. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 58.56%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on TROW. Deutsche Bank Aktiengesellschaft boosted their price target on T. Rowe Price Group from $112.00 to $113.00 and gave the stock a “hold” rating in a report on Thursday, August 15th. Evercore ISI lifted their price target on shares of T. Rowe Price Group from $108.00 to $109.00 and gave the company an “in-line” rating in a report on Friday, October 4th. Barclays increased their price objective on shares of T. Rowe Price Group from $99.00 to $101.00 and gave the company an “underweight” rating in a research note on Monday, October 14th. JPMorgan Chase & Co. boosted their target price on shares of T. Rowe Price Group from $102.00 to $107.00 and gave the stock an “underweight” rating in a research note on Tuesday, July 23rd. Finally, Wells Fargo & Company increased their price target on T. Rowe Price Group from $109.00 to $112.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 9th. Four equities research analysts have rated the stock with a sell rating and eight have given a hold rating to the company. According to MarketBeat, T. Rowe Price Group presently has an average rating of “Hold” and a consensus target price of $113.00.

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.