Sawgrass Asset Management LLC Decreases Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Sawgrass Asset Management LLC decreased its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 3.3% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 8,068 shares of the asset manager’s stock after selling 276 shares during the period. Sawgrass Asset Management LLC’s holdings in T. Rowe Price Group were worth $879,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Mitsubishi UFJ Trust & Banking Corp grew its holdings in T. Rowe Price Group by 3.1% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 204,369 shares of the asset manager’s stock valued at $24,812,000 after purchasing an additional 6,153 shares during the period. Edgestream Partners L.P. lifted its position in shares of T. Rowe Price Group by 40.3% during the 1st quarter. Edgestream Partners L.P. now owns 11,656 shares of the asset manager’s stock valued at $1,421,000 after buying an additional 3,347 shares during the last quarter. Davis R M Inc. grew its stake in shares of T. Rowe Price Group by 9.1% during the 1st quarter. Davis R M Inc. now owns 145,369 shares of the asset manager’s stock worth $17,723,000 after acquiring an additional 12,140 shares during the period. O Shaughnessy Asset Management LLC increased its holdings in T. Rowe Price Group by 44.5% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 16,040 shares of the asset manager’s stock worth $1,956,000 after acquiring an additional 4,938 shares during the last quarter. Finally, Seven Eight Capital LP bought a new stake in T. Rowe Price Group in the 1st quarter valued at about $679,000. 73.39% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on TROW. JPMorgan Chase & Co. cut their target price on shares of T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating for the company in a research report on Monday, November 4th. StockNews.com lowered shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Evercore ISI increased their target price on T. Rowe Price Group from $112.00 to $113.00 and gave the stock an “in-line” rating in a research report on Thursday, November 7th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $120.00 price target (down from $121.00) on shares of T. Rowe Price Group in a report on Monday, July 29th. Finally, Morgan Stanley boosted their price objective on 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. Four investment analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $115.55.

Insider Buying and Selling

In related news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $102.83, for a total transaction of $1,230,772.27. Following the transaction, the vice president now directly 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 sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Jessica M. Hiebler sold 484 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $104.73, for a total value of $50,689.32. Following the completion of the sale, the insider now directly owns 13,939 shares of the company’s stock, valued at approximately $1,459,831.47. This represents a 3.36 % decrease in their position. The disclosure for this sale can be found here. 2.00% of the stock is owned by company insiders.

T. Rowe Price Group Stock Down 0.9 %

Shares of NASDAQ TROW opened at $118.77 on Friday. The stock’s 50-day simple moving average is $110.77 and its two-hundred day simple moving average is $112.18. T. Rowe Price Group, Inc. has a twelve month low of $96.46 and a twelve month high of $122.27. The firm has a market capitalization of $26.39 billion, a P/E ratio of 12.99, a P/E/G ratio of 1.68 and a beta of 1.41.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings data 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. T. Rowe Price Group had a net margin of 30.35% and a return on equity of 20.35%. The company had revenue of $1.79 billion for the quarter, compared to analysts’ expectations of $1.84 billion. During the same period in the prior year, the business earned $2.17 earnings per share. T. Rowe Price Group’s revenue for the quarter 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 9.33 EPS for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The business also recently disclosed 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 dividend on an annualized basis and a dividend yield of 4.18%. The ex-dividend date is Friday, December 13th. T. Rowe Price Group’s dividend payout ratio is currently 54.27%.

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.