26,344 T. Rowe Price Group, Inc. $TROW Shares Sold by ARGA Investment Management LP

ARGA Investment Management LP decreased its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 8.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 288,749 shares of the asset manager's stock after selling 26,344 shares during the quarter. T. Rowe Price Group makes up 0.8% of ARGA Investment Management LP's portfolio, making the stock its 24th largest position. ARGA Investment Management LP owned 0.14% of T. Rowe Price Group worth $30,044,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in the stock. Wealthcare Capital Partners LLC grew its position in shares of T. Rowe Price Group by 1.0% during the 2nd quarter. Wealthcare Capital Partners LLC now owns 9,565 shares of the asset manager's stock worth $1,087,000 after buying an additional 93 shares in the last quarter. Kesler Norman & Wride LLC raised its holdings in shares of T. Rowe Price Group by 0.6% in the second quarter. Kesler Norman & Wride LLC now owns 15,914 shares of the asset manager's stock valued at $1,809,000 after acquiring an additional 96 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its holdings in shares of T. Rowe Price Group by 9.4% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,150 shares of the asset manager's stock valued at $131,000 after acquiring an additional 99 shares in the last quarter. Oregon Public Employees Retirement Fund raised its holdings in shares of T. Rowe Price Group by 0.4% in the first quarter. Oregon Public Employees Retirement Fund now owns 25,062 shares of the asset manager's stock valued at $2,259,000 after acquiring an additional 100 shares in the last quarter. Finally, Concorde Asset Management LLC lifted its stake in T. Rowe Price Group by 3.9% in the first quarter. Concorde Asset Management LLC now owns 2,730 shares of the asset manager's stock worth $246,000 after acquiring an additional 102 shares during the period. 73.39% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Barclays reduced their price target on shares of T. Rowe Price Group from $103.00 to $102.00 and set an "underweight" rating for the company in a report on Wednesday, October 14th. BMO Capital Markets dropped their price objective on shares of T. Rowe Price Group from $120.00 to $110.00 and set a "market perform" rating on the stock in a research note on Tuesday, October 13th. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and set a $109.00 price objective on shares of T. Rowe Price Group in a report on Monday, August 3rd. TD Cowen reduced their price objective on shares of T. Rowe Price Group from $109.00 to $96.00 and set a "hold" rating for the company in a research note on Friday, October 30th. Finally, Weiss Ratings upgraded T. Rowe Price Group from a "hold (c+)" rating to a "buy (b-)" rating in a report on Friday, September 4th. One research analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Reduce" and an average target price of $102.83.

Insiders Place Their Bets

In other T. Rowe Price Group news, VP Joshua Nelson sold 10,000 shares of the business's stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $111.82, for a total transaction of $1,118,200.00. Following the sale, the vice president owned 71,328 shares in the company, valued at approximately $7,975,896.96. The trade was a 12.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.60% of the company's stock.

T. Rowe Price Group Trading Up 0.4%

NASDAQ TROW opened at $106.23 on Wednesday. The company has a fifty day simple moving average of $105.42 and a two-hundred day simple moving average of $103.71. The stock has a market cap of $22.66 billion, a P/E ratio of 10.19, a P/E/G ratio of 3.39 and a beta of 1.43. T. Rowe Price Group, Inc. has a 12-month low of $85.22 and a 12-month high of $122.00.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last released its earnings results on Thursday, October 29th. The asset manager reported $2.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.63 by $0.23. T. Rowe Price Group had a return on equity of 20.63% and a net margin of 28.40%. The firm had revenue of $2 billion for the quarter, compared to the consensus estimate of $1.98 billion. During the same period in the prior year, the firm earned $2.81 EPS. The firm's revenue was up 5.9% on a year-over-year basis. As a group, sell-side analysts forecast that T. Rowe Price Group, Inc. will post 10.21 earnings per share for the current year.

T. Rowe Price Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 15th were paid a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 4.9%. The ex-dividend date was Tuesday, September 15th. T. Rowe Price Group's payout ratio is presently 52.58%.

About T. Rowe Price Group

T. Rowe Price Group, Inc is a global investment management firm headquartered in Baltimore, Maryland. Founded in 1937 by Thomas Rowe Price Jr., the company provides investment strategies and advisory services to individual investors, retirement plans, financial intermediaries, institutions and other clients.

The company offers a range of actively managed and multi-asset investment products, including mutual funds, exchange-traded funds, separately managed accounts and other portfolio solutions.

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