T. Rowe Price Group Inc (TROW) Position Reduced by Beacon Financial Group

Beacon Financial Group decreased its position in shares of T. Rowe Price Group Inc (NASDAQ:TROW) by 20.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,898 shares of the asset manager’s stock after selling 2,085 shares during the period. Beacon Financial Group’s holdings in T. Rowe Price Group were worth $829,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in T. Rowe Price Group by 1.7% in the second quarter. Vanguard Group Inc. now owns 16,576,728 shares of the asset manager’s stock worth $1,230,159,000 after buying an additional 282,162 shares during the last quarter. BlackRock Inc. grew its position in T. Rowe Price Group by 0.4% in the second quarter. BlackRock Inc. now owns 16,440,056 shares of the asset manager’s stock worth $1,220,017,000 after buying an additional 61,269 shares during the last quarter. State Street Corp grew its position in T. Rowe Price Group by 1.9% in the second quarter. State Street Corp now owns 14,511,636 shares of the asset manager’s stock worth $1,076,913,000 after buying an additional 273,036 shares during the last quarter. JPMorgan Chase & Co. grew its position in T. Rowe Price Group by 1.9% in the third quarter. JPMorgan Chase & Co. now owns 11,974,559 shares of the asset manager’s stock worth $1,079,267,000 after buying an additional 218,211 shares during the last quarter. Finally, Capital World Investors grew its position in T. Rowe Price Group by 235.0% in the second quarter. Capital World Investors now owns 10,512,236 shares of the asset manager’s stock worth $780,113,000 after buying an additional 7,373,953 shares during the last quarter. 72.13% of the stock is currently owned by hedge funds and other institutional investors.

Several research analysts have issued reports on the stock. Citigroup lifted their price target on shares of T. Rowe Price Group from $94.00 to $95.00 and gave the stock a “neutral” rating in a research report on Friday, October 27th. Zacks Investment Research cut shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Wednesday, September 13th. UBS Group lifted their price objective on shares of T. Rowe Price Group from $69.00 to $72.00 and gave the stock a “sell” rating in a research report on Friday, October 27th. Jefferies Group reiterated a “buy” rating and set a $104.00 price objective (up from $96.00) on shares of T. Rowe Price Group in a research report on Tuesday, October 10th. Finally, Barclays lifted their price objective on shares of T. Rowe Price Group from $79.00 to $84.00 and gave the stock an “underweight” rating in a research report on Friday, October 27th. Three research analysts have rated the stock with a sell rating, five have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $91.89.

In other T. Rowe Price Group news, CFO Kenneth V. Moreland sold 14,419 shares of T. Rowe Price Group stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $97.07, for a total transaction of $1,399,652.33. Following the completion of the sale, the chief financial officer now owns 125,264 shares of the company’s stock, valued at approximately $12,159,376.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO William J. Stromberg sold 30,000 shares of T. Rowe Price Group stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $97.09, for a total transaction of $2,912,700.00. Following the sale, the chief executive officer now directly owns 534,077 shares of the company’s stock, valued at approximately $51,853,535.93. The disclosure for this sale can be found here. Insiders have sold a total of 196,914 shares of company stock valued at $19,936,897 in the last three months. Company insiders own 3.60% of the company’s stock.

T. Rowe Price Group Inc (NASDAQ TROW) opened at $104.49 on Thursday. T. Rowe Price Group Inc has a 52-week low of $65.33 and a 52-week high of $106.10. The firm has a market cap of $25,320.00, a P/E ratio of 17.10, a price-to-earnings-growth ratio of 1.75 and a beta of 1.32.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings data on Thursday, October 26th. The asset manager reported $1.56 earnings per share for the quarter, topping the consensus estimate of $1.36 by $0.20. The firm had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.22 billion. T. Rowe Price Group had a net margin of 33.10% and a return on equity of 24.76%. The company’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.17 EPS. sell-side analysts expect that T. Rowe Price Group Inc will post 5.29 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Thursday, December 28th. Shareholders of record on Thursday, December 14th were paid a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.18%. The ex-dividend date was Wednesday, December 13th. T. Rowe Price Group’s dividend payout ratio (DPR) is currently 37.32%.

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About T. Rowe Price Group

T. Rowe Price Group, Inc is a financial services holding company. The Company provides global investment management services through its subsidiaries to investors across the world. The Company provides an array of Company sponsored the United States mutual funds, other sponsored pooled investment vehicles, sub advisory services, separate account management, recordkeeping, and related services to individuals, advisors, institutions, financial intermediaries and retirement plan sponsors.

Institutional Ownership by Quarter for T. Rowe Price Group (NASDAQ:TROW)

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