Victory Capital Management Inc. Lowers Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Victory Capital Management Inc. decreased its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 8.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,152,551 shares of the asset manager’s stock after selling 283,468 shares during the quarter. Victory Capital Management Inc. owned approximately 1.42% of T. Rowe Price Group worth $343,407,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. Forsta AP Fonden grew its position in T. Rowe Price Group by 32.3% during the 2nd quarter. Forsta AP Fonden now owns 70,100 shares of the asset manager’s stock worth $8,083,000 after purchasing an additional 17,100 shares during the last quarter. Mizuho Markets Americas LLC grew its holdings in T. Rowe Price Group by 90.0% in the first quarter. Mizuho Markets Americas LLC now owns 90,688 shares of the asset manager’s stock valued at $11,057,000 after purchasing an additional 42,949 shares during the period. Savant Capital LLC increased its stake in T. Rowe Price Group by 36.6% during the second quarter. Savant Capital LLC now owns 32,887 shares of the asset manager’s stock worth $3,792,000 after acquiring an additional 8,816 shares during the last quarter. CANADA LIFE ASSURANCE Co grew its stake in T. Rowe Price Group by 4.1% during the first quarter. CANADA LIFE ASSURANCE Co now owns 171,259 shares of the asset manager’s stock worth $20,890,000 after buying an additional 6,780 shares during the period. Finally, State Board of Administration of Florida Retirement System lifted its stake in shares of T. Rowe Price Group by 3.8% during the first quarter. State Board of Administration of Florida Retirement System now owns 257,796 shares of the asset manager’s stock worth $29,105,000 after purchasing an additional 9,519 shares in the last quarter. Institutional investors and hedge funds own 73.39% of the company’s stock.

Analyst Upgrades and Downgrades

TROW has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods restated a “market perform” rating and set a $120.00 price objective (down previously from $121.00) on shares of T. Rowe Price Group in a research note on Monday, July 29th. Wells Fargo & Company upped their price target on shares of T. Rowe Price Group from $109.00 to $112.00 and gave the company an “equal weight” rating in a report on Wednesday, October 9th. Evercore ISI upped their price objective on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the company an “in-line” rating in a research note on Thursday, November 7th. TD Cowen decreased their price target 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. Finally, StockNews.com downgraded shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Four investment analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $115.55.

T. Rowe Price Group Stock Performance

Shares of TROW traded up $1.20 during trading hours on Tuesday, reaching $119.13. The stock had a trading volume of 359,872 shares, compared to its average volume of 1,258,321. The stock has a market capitalization of $26.47 billion, a PE ratio of 12.90, a PEG ratio of 1.71 and a beta of 1.41. The company’s 50-day moving average is $109.56 and its two-hundred day moving average is $111.99. T. Rowe Price Group, Inc. has a 12 month low of $91.40 and a 12 month high of $122.27.

T. Rowe Price Group (NASDAQ:TROW) last issued its earnings results on Friday, November 1st. The asset manager reported $2.57 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $1.84 billion. During the same period in the previous year, the company posted $2.17 earnings per share. The firm’s revenue for the quarter was up 6.9% on a year-over-year basis. Equities analysts anticipate that T. Rowe Price Group, Inc. will post 9.32 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be issued a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a dividend yield of 4.16%. The ex-dividend date is Friday, December 13th. T. Rowe Price Group’s dividend payout ratio (DPR) is currently 54.27%.

Insider Buying and Selling

In related news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the company’s stock in a transaction that occurred 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 transaction, the vice president now directly owns 123,624 shares in the company, valued at approximately $12,712,255.92. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Jessica M. Hiebler sold 484 shares of the firm’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $104.73, for a total transaction of $50,689.32. Following the completion of the transaction, the insider now directly owns 13,939 shares in the company, valued at $1,459,831.47. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of T. Rowe Price Group stock in a transaction on 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 completion of 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 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 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.