Nisa Investment Advisors LLC Trims Stock Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Nisa Investment Advisors LLC trimmed its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 0.7% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 68,080 shares of the asset manager’s stock after selling 492 shares during the period. Nisa Investment Advisors LLC’s holdings in T. Rowe Price Group were worth $7,699,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TROW. Iron Horse Wealth Management LLC increased its position in shares of T. Rowe Price Group by 90.9% during the 3rd quarter. Iron Horse Wealth Management LLC now owns 231 shares of the asset manager’s stock worth $25,000 after purchasing an additional 110 shares during the last quarter. Hexagon Capital Partners LLC increased its position in shares of T. Rowe Price Group by 54.7% during the third quarter. Hexagon Capital Partners LLC now owns 294 shares of the asset manager’s stock valued at $32,000 after acquiring an additional 104 shares during the last quarter. True Wealth Design LLC purchased a new stake in shares of T. Rowe Price Group in the 3rd quarter valued at approximately $37,000. Larson Financial Group LLC lifted its holdings in shares of T. Rowe Price Group by 866.7% in the 3rd quarter. Larson Financial Group LLC now owns 348 shares of the asset manager’s stock worth $38,000 after acquiring an additional 312 shares during the last quarter. Finally, Brooklyn Investment Group purchased a new position in shares of T. Rowe Price Group during the 3rd quarter worth approximately $43,000. Institutional investors and hedge funds own 73.39% of the company’s stock.

Analyst Ratings Changes

TROW has been the topic of a number of research reports. StockNews.com upgraded T. Rowe Price Group from a “hold” rating to a “buy” rating in a research note on Saturday. The Goldman Sachs Group lowered their target price on T. Rowe Price Group from $106.00 to $102.00 and set a “sell” rating for the company in a report on Thursday, October 3rd. TD Cowen cut their target price on shares of T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating on the stock in a research note on Monday, November 4th. Evercore ISI increased their price target on T. Rowe Price Group from $112.00 to $113.00 and gave the company an “in-line” rating in a research report on Thursday, November 7th. Finally, Morgan Stanley boosted their price objective on T. Rowe Price Group from $129.00 to $132.00 and gave the stock an “equal weight” rating in a research report on Friday, December 20th. Four equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $115.82.

T. Rowe Price Group Trading Up 0.7 %

TROW stock opened at $114.21 on Friday. The stock has a market cap of $25.37 billion, a P/E ratio of 12.50, a PEG ratio of 1.68 and a beta of 1.43. T. Rowe Price Group, Inc. has a twelve month low of $100.49 and a twelve month high of $125.81. The company’s 50 day moving average is $117.31 and its two-hundred day moving average is $112.81.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings results on Friday, November 1st. The asset manager reported $2.57 earnings per share for the quarter, beating analysts’ consensus estimates of $2.36 by $0.21. The firm had revenue of $1.79 billion during the quarter, compared to analysts’ expectations of $1.84 billion. T. Rowe Price Group had a net margin of 30.35% and a return on equity of 20.35%. T. Rowe Price Group’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same period in the previous year, the company earned $2.17 earnings per share. On average, equities research analysts predict that T. Rowe Price Group, Inc. will post 9.45 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, December 13th were paid a dividend of $1.24 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $4.96 dividend on an annualized basis and a yield of 4.34%. T. Rowe Price Group’s dividend payout ratio is presently 54.27%.

Insiders Place Their Bets

In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of T. Rowe Price Group stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $123.35, for a total value of $499,197.45. Following the transaction, the vice president now directly owns 119,577 shares in the company, valued at approximately $14,749,822.95. The trade was a 3.27 % 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. 2.00% of the stock is currently owned by corporate insiders.

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.