Pacer Advisors Inc. Decreases Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Pacer Advisors Inc. lowered its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 35.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,377 shares of the asset manager's stock after selling 6,384 shares during the quarter. Pacer Advisors Inc.'s holdings in T. Rowe Price Group were worth $1,045,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of TROW. Marshall Wace LLP purchased a new position in shares of T. Rowe Price Group during the 4th quarter valued at approximately $63,284,000. Fayez Sarofim & Co increased its position in shares of T. Rowe Price Group by 7.6% during the 4th quarter. Fayez Sarofim & Co now owns 6,052,469 shares of the asset manager's stock worth $684,474,000 after purchasing an additional 425,142 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of T. Rowe Price Group by 28.2% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,762,910 shares of the asset manager's stock worth $199,367,000 after purchasing an additional 387,604 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of T. Rowe Price Group by 9,555.5% during the first quarter. GAMMA Investing LLC now owns 333,212 shares of the asset manager's stock worth $30,612,000 after purchasing an additional 329,761 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of T. Rowe Price Group during the fourth quarter worth about $32,332,000. Institutional investors and hedge funds own 73.39% of the company's stock.

Insider Buying and Selling at T. Rowe Price Group

In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 968 shares of the company's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $96.98, for a total transaction of $93,876.64. Following the completion of the sale, the insider directly owned 13,611 shares in the company, valued at $1,319,994.78. This represents a 6.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Dorothy C. Sawyer sold 2,000 shares of the stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $95.43, for a total value of $190,860.00. Following the completion of the sale, the vice president owned 44,789 shares of the company's stock, valued at $4,274,214.27. The trade was a 4.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have commented on TROW. Citigroup dropped their price target on shares of T. Rowe Price Group from $100.00 to $95.00 and set a "neutral" rating on the stock in a research note on Monday, April 14th. TD Cowen decreased their price target on T. Rowe Price Group from $112.00 to $89.00 and set a "hold" rating on the stock in a research note on Wednesday, April 9th. The Goldman Sachs Group reduced their price objective on T. Rowe Price Group from $89.00 to $80.00 and set a "sell" rating on the stock in a research note on Monday, April 14th. Morgan Stanley boosted their price target on T. Rowe Price Group from $95.00 to $104.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 2nd. Finally, Bank of America dropped their price objective on T. Rowe Price Group from $90.00 to $85.00 and set an "underperform" rating on the stock in a report on Thursday, April 3rd. Four analysts have rated the stock with a sell rating and nine have issued a hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $96.64.

T. Rowe Price Group Price Performance

Shares of NASDAQ TROW traded down $2.45 during midday trading on Thursday, hitting $101.45. The stock had a trading volume of 3,974,037 shares, compared to its average volume of 1,563,114. T. Rowe Price Group, Inc. has a fifty-two week low of $77.85 and a fifty-two week high of $125.81. The firm has a market cap of $22.35 billion, a P/E ratio of 11.50, a price-to-earnings-growth ratio of 3.06 and a beta of 1.49. The company's 50-day simple moving average is $98.04 and its 200 day simple moving average is $98.54.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last released its earnings results on Friday, May 2nd. The asset manager reported $2.23 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.13 by $0.10. The business had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.80 billion. T. Rowe Price Group had a return on equity of 20.17% and a net margin of 28.38%. T. Rowe Price Group's quarterly revenue was up .8% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.38 earnings per share. Equities analysts expect that T. Rowe Price Group, Inc. will post 9.29 EPS for the current fiscal year.

T. Rowe Price Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Friday, June 13th were paid a dividend of $1.27 per share. The ex-dividend date was Friday, June 13th. This represents a $5.08 annualized dividend and a yield of 5.0%. T. Rowe Price Group's dividend payout ratio is presently 57.60%.

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.