Sachetta LLC Cuts Stock Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Sachetta LLC lessened its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 4.1% in the 4th quarter, Holdings Channel reports. The firm owned 2,074 shares of the asset manager’s stock after selling 89 shares during the period. Sachetta LLC’s holdings in T. Rowe Price Group were worth $235,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. International Assets Investment Management LLC boosted its holdings in shares of T. Rowe Price Group by 7,992.0% during the 3rd quarter. International Assets Investment Management LLC now owns 1,067,655 shares of the asset manager’s stock worth $116,300,000 after purchasing an additional 1,054,461 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec grew its holdings in shares of T. Rowe Price Group by 382.1% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 398,175 shares of the asset manager’s stock worth $43,373,000 after purchasing an additional 315,581 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of T. Rowe Price Group by 3.5% in the 3rd 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 during the period. AQR Capital Management LLC lifted its stake in T. Rowe Price Group by 77.2% during the second quarter. AQR Capital Management LLC now owns 451,237 shares of the asset manager’s stock worth $52,032,000 after purchasing an additional 196,565 shares in the last quarter. Finally, Franklin Resources Inc. lifted its stake in T. Rowe Price Group by 45.1% during the 3rd quarter. Franklin Resources Inc. now owns 490,155 shares of the asset manager’s stock worth $53,760,000 after acquiring an additional 152,430 shares in the last quarter. Hedge funds and other institutional investors own 73.39% of the company’s stock.

Insiders Place Their Bets

In related news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $123.35, for a total value of $499,197.45. Following the completion of the transaction, the vice president now owns 119,577 shares in the company, valued at $14,749,822.95. This trade represents a 3.27 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.00% of the stock is currently owned by insiders.

T. Rowe Price Group Price Performance

Shares of TROW opened at $114.21 on Friday. The business’s fifty day moving average price is $117.31 and its 200 day moving average price is $112.81. T. Rowe Price Group, Inc. has a 12-month low of $100.49 and a 12-month high of $125.81. The stock has a market capitalization of $25.37 billion, a PE ratio of 12.50, a price-to-earnings-growth ratio of 1.68 and a beta of 1.43.

T. Rowe Price Group (NASDAQ:TROW) last posted its earnings results on Friday, November 1st. The asset manager reported $2.57 earnings per share (EPS) for the quarter, beating 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 company had revenue of $1.79 billion for the quarter, compared to analysts’ expectations of $1.84 billion. During the same period last year, the business posted $2.17 earnings per share. The firm’s quarterly revenue was up 6.9% compared to the same quarter last year. As a group, research analysts anticipate that T. Rowe Price Group, Inc. will post 9.45 earnings per share for the current fiscal year.

T. Rowe Price Group Dividend Announcement

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

Wall Street Analyst Weigh In

TROW has been the subject of a number of recent research reports. StockNews.com upgraded T. Rowe Price Group from a “hold” rating to a “buy” rating in a report on Saturday. Barclays cut their price target on shares of T. Rowe Price Group from $115.00 to $113.00 and set an “underweight” rating on the stock in a research note on Friday, January 17th. Evercore ISI boosted their price objective on 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. Keefe, Bruyette & Woods decreased their target price on shares of T. Rowe Price Group from $116.00 to $111.00 and set a “market perform” rating for the company in a research note on Monday, January 13th. Finally, Wells Fargo & Company lowered their price objective on shares of T. Rowe Price Group from $124.00 to $118.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 14th. 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 stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $115.82.

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.