Cadence Bank Sells 186 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Cadence Bank cut its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 2.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,260 shares of the asset manager’s stock after selling 186 shares during the quarter. Cadence Bank’s holdings in T. Rowe Price Group were worth $1,009,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Charles Schwab Investment Management Inc. increased its holdings in shares of T. Rowe Price Group by 3.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 6,840,807 shares of the asset manager’s stock valued at $745,169,000 after acquiring an additional 231,286 shares in the last quarter. Victory Capital Management Inc. increased its holdings in T. Rowe Price Group by 3.8% in the 2nd quarter. Victory Capital Management Inc. now owns 3,436,019 shares of the asset manager’s stock worth $396,207,000 after buying an additional 124,686 shares in the last quarter. American Century Companies Inc. increased its holdings in T. Rowe Price Group by 4.5% in the 2nd quarter. American Century Companies Inc. now owns 2,512,793 shares of the asset manager’s stock worth $289,750,000 after buying an additional 107,086 shares in the last quarter. Provident Trust Co. increased its holdings in T. Rowe Price Group by 0.3% in the 3rd quarter. Provident Trust Co. now owns 2,397,728 shares of the asset manager’s stock worth $261,185,000 after buying an additional 7,905 shares in the last quarter. Finally, Fisher Asset Management LLC increased its holdings in T. Rowe Price Group by 2.6% in the 3rd quarter. Fisher Asset Management LLC now owns 1,861,454 shares of the asset manager’s stock worth $202,768,000 after buying an additional 47,998 shares in the last quarter. 73.39% of the stock is currently owned by institutional investors.

Insider Activity

In other news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of T. Rowe Price Group stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $102.83, for a total value of $1,230,772.27. Following the sale, the vice president now directly owns 123,624 shares of the company’s stock, valued at approximately $12,712,255.92. The trade was a 8.83 % decrease in their ownership of the stock. The sale 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 T. Rowe Price Group stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $104.73, for a total value of $50,689.32. Following the completion of the sale, the insider now directly owns 13,939 shares in the company, valued at $1,459,831.47. This trade represents a 3.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.

T. Rowe Price Group Stock Up 0.2 %

Shares of T. Rowe Price Group stock opened at $124.16 on Thursday. The stock’s 50-day simple moving average is $113.18 and its 200-day simple moving average is $112.69. T. Rowe Price Group, Inc. has a 52 week low of $96.50 and a 52 week high of $124.83. The company has a market capitalization of $27.58 billion, a price-to-earnings ratio of 13.58, a PEG ratio of 1.73 and a beta of 1.41.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings data on Friday, November 1st. The asset manager reported $2.57 EPS for the quarter, beating the consensus estimate of $2.36 by $0.21. T. Rowe Price Group had a return on equity of 20.35% and a net margin of 30.35%. The business had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.84 billion. During the same period in the previous year, the business earned $2.17 earnings per share. The business’s revenue was up 6.9% on a year-over-year basis. On average, equities analysts expect that T. Rowe Price Group, Inc. will post 9.39 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

The firm 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 $1.24 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $4.96 annualized dividend and a dividend yield of 3.99%. T. Rowe Price Group’s payout ratio is 54.27%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on TROW shares. Deutsche Bank Aktiengesellschaft lifted their price objective on T. Rowe Price Group from $115.00 to $120.00 and gave the stock a “hold” rating in a report on Monday, November 11th. Barclays raised their target price on T. Rowe Price Group from $101.00 to $110.00 and gave the stock an “underweight” rating in a research report on Monday, November 4th. TD Cowen reduced their target price on shares of T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating for the company in a report on Monday, November 4th. Wells Fargo & Company raised their target price on T. Rowe Price Group from $109.00 to $112.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 9th. Finally, Evercore ISI boosted their price target on T. Rowe Price Group from $112.00 to $113.00 and gave the company an “in-line” rating in a report on Thursday, November 7th. Four equities research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $115.55.

T. Rowe Price Group Company Profile

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.