Brown Capital Management LLC Cuts Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Brown Capital Management LLC lowered its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 12.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 22,551 shares of the asset manager’s stock after selling 3,240 shares during the quarter. Brown Capital Management LLC’s holdings in T. Rowe Price Group were worth $2,456,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Insight Folios Inc grew its holdings in shares of T. Rowe Price Group by 3.6% during the 3rd quarter. Insight Folios Inc now owns 2,612 shares of the asset manager’s stock worth $285,000 after purchasing an additional 90 shares during the period. Massmutual Trust Co. FSB ADV increased its position in shares of T. Rowe Price Group by 7.4% in the second quarter. Massmutual Trust Co. FSB ADV now owns 1,328 shares of the asset manager’s stock worth $153,000 after acquiring an additional 92 shares in the last quarter. Keystone Financial Services raised its stake in shares of T. Rowe Price Group by 5.1% in the 3rd quarter. Keystone Financial Services now owns 1,885 shares of the asset manager’s stock valued at $205,000 after acquiring an additional 92 shares during the period. Nvwm LLC lifted its holdings in shares of T. Rowe Price Group by 2.2% during the 3rd quarter. Nvwm LLC now owns 4,496 shares of the asset manager’s stock valued at $490,000 after acquiring an additional 95 shares in the last quarter. Finally, Strategy Asset Managers LLC boosted its position in T. Rowe Price Group by 4.6% during the 3rd quarter. Strategy Asset Managers LLC now owns 2,169 shares of the asset manager’s stock worth $236,000 after purchasing an additional 95 shares during the period. Hedge funds and other institutional investors own 73.39% of the company’s stock.

T. Rowe Price Group Trading Down 0.4 %

Shares of TROW opened at $117.52 on Thursday. The stock has a 50 day moving average of $111.62 and a 200-day moving average of $112.33. T. Rowe Price Group, Inc. has a 52 week low of $96.46 and a 52 week high of $122.27. The firm has a market cap of $26.11 billion, a price-to-earnings ratio of 12.86, a PEG ratio of 1.67 and a beta of 1.41.

T. Rowe Price Group (NASDAQ:TROW) last issued its earnings results on Friday, November 1st. The asset manager reported $2.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.36 by $0.21. The firm had revenue of $1.79 billion for 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 revenue was up 6.9% on a year-over-year basis. During the same quarter last year, the company posted $2.17 earnings per share. On average, sell-side analysts predict that T. Rowe Price Group, Inc. will post 9.33 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be paid a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a yield of 4.22%. The ex-dividend date of this dividend is Friday, December 13th. T. Rowe Price Group’s payout ratio is 54.27%.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Evercore ISI boosted their price objective on T. Rowe Price Group from $112.00 to $113.00 and gave the stock an “in-line” rating in a research note on Thursday, November 7th. Barclays increased their price objective on shares of T. Rowe Price Group from $101.00 to $110.00 and gave the company an “underweight” rating in a research report on Monday, November 4th. Morgan Stanley upped their target price on shares of T. Rowe Price Group from $127.00 to $129.00 and gave the company an “equal weight” rating in a research note on Monday, November 4th. StockNews.com downgraded shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Finally, The Goldman Sachs Group decreased their price objective on shares of T. Rowe Price Group from $106.00 to $102.00 and set a “sell” rating for the company in a research report on Thursday, October 3rd. Four analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. According to data from MarketBeat, T. Rowe Price Group currently has an average rating of “Hold” and an average price target of $115.55.

Insider Transactions at T. Rowe Price Group

In other news, insider Jessica M. Hiebler sold 484 shares of the stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $104.73, for a total value 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 3.36 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the company’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 owns 123,624 shares of the company’s stock, valued at approximately $12,712,255.92. This trade represents a 8.83 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

T. Rowe Price Group 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.