T. Rowe Price Group, Inc. (NASDAQ:TROW) Shares Sold by DGS Capital Management LLC

DGS Capital Management LLC trimmed its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 19.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,334 shares of the asset manager’s stock after selling 566 shares during the period. DGS Capital Management LLC’s holdings in T. Rowe Price Group were worth $254,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of TROW. Franklin Resources Inc. increased its stake in T. Rowe Price Group by 45.1% in the 3rd quarter. Franklin Resources Inc. now owns 490,155 shares of the asset manager’s stock valued at $53,760,000 after buying an additional 152,430 shares during the period. Synovus Financial Corp increased its stake in shares of T. Rowe Price Group by 15.7% in the third quarter. Synovus Financial Corp now owns 11,476 shares of the asset manager’s stock worth $1,250,000 after acquiring an additional 1,559 shares during the last quarter. Tidal Investments LLC raised its holdings in shares of T. Rowe Price Group by 8.5% during the third quarter. Tidal Investments LLC now owns 6,541 shares of the asset manager’s stock worth $713,000 after acquiring an additional 513 shares in the last quarter. Wilmington Savings Fund Society FSB raised its stake in shares of T. Rowe Price Group by 191.1% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 11,404 shares of the asset manager’s stock valued at $1,242,000 after acquiring an additional 7,486 shares in the last quarter. Finally, World Investment Advisors LLC acquired a new stake in T. Rowe Price Group in the 3rd quarter worth approximately $273,000. Hedge funds and other institutional investors own 73.39% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on TROW shares. The Goldman Sachs Group dropped their price target on shares of T. Rowe Price Group from $106.00 to $102.00 and set a “sell” rating on the stock in a research report on Thursday, October 3rd. JPMorgan Chase & Co. dropped their target price on shares of T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating on the stock in a report on Monday, November 4th. Wells Fargo & Company upped their price target on shares of T. Rowe Price Group from $112.00 to $124.00 and gave the company an “equal weight” rating in a report on Thursday. Barclays boosted their price objective on T. Rowe Price Group from $110.00 to $115.00 and gave the stock an “underweight” rating in a research report on Monday, December 9th. Finally, Deutsche Bank Aktiengesellschaft upped their price target 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. Four equities research analysts have rated the stock with a sell rating and eight have given a hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $117.09.

T. Rowe Price Group Price Performance

Shares of TROW stock opened at $119.54 on Friday. The stock’s fifty day simple moving average is $116.67 and its 200 day simple moving average is $113.26. T. Rowe Price Group, Inc. has a one year low of $100.49 and a one year high of $125.81. The firm has a market cap of $26.56 billion, a price-to-earnings ratio of 13.08, a P/E/G ratio of 1.72 and a beta of 1.42.

T. Rowe Price Group (NASDAQ:TROW) last posted its earnings results on Friday, November 1st. The asset manager reported $2.57 earnings per share for the quarter, topping the consensus estimate of $2.36 by $0.21. The business had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.84 billion. T. Rowe Price Group had a net margin of 30.35% and a return on equity of 20.35%. The firm’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.17 EPS. On average, research analysts anticipate that T. Rowe Price Group, Inc. will post 9.39 earnings per share for the current year.

T. Rowe Price Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be issued a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a dividend yield of 4.15%. The ex-dividend date is Friday, December 13th. T. Rowe Price Group’s payout ratio is presently 54.27%.

Insider Activity

In related news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the vice president now owns 119,577 shares of the company’s stock, valued at $14,749,822.95. This trade represents a 3.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 2.00% of the stock is currently owned by corporate insiders.

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.