Victory Capital Management Inc. Sells 283,468 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Victory Capital Management Inc. lessened its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 8.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,152,551 shares of the asset manager’s stock after selling 283,468 shares during the quarter. Victory Capital Management Inc.’s holdings in T. Rowe Price Group were worth $343,407,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Forsta AP Fonden grew its holdings in T. Rowe Price Group by 32.3% during the 2nd quarter. Forsta AP Fonden now owns 70,100 shares of the asset manager’s stock worth $8,083,000 after acquiring an additional 17,100 shares in the last quarter. Mizuho Markets Americas LLC increased its holdings in shares of T. Rowe Price Group by 90.0% during the first quarter. Mizuho Markets Americas LLC now owns 90,688 shares of the asset manager’s stock valued at $11,057,000 after acquiring an additional 42,949 shares in the last quarter. Savant Capital LLC grew its holdings in shares of T. Rowe Price Group by 36.6% during the second quarter. Savant Capital LLC now owns 32,887 shares of the asset manager’s stock valued at $3,792,000 after buying an additional 8,816 shares during the last quarter. CANADA LIFE ASSURANCE Co raised its stake in shares of T. Rowe Price Group by 4.1% in the first quarter. CANADA LIFE ASSURANCE Co now owns 171,259 shares of the asset manager’s stock worth $20,890,000 after purchasing an additional 6,780 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System lifted its stake in T. Rowe Price Group by 3.8% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 257,796 shares of the asset manager’s stock valued at $29,105,000 after acquiring an additional 9,519 shares during the period. Hedge funds and other institutional investors own 73.39% of the company’s stock.

Insider Activity

In related news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $102.83, for a total value of $1,230,772.27. Following the completion of the sale, the vice president now owns 123,624 shares in the company, valued at approximately $12,712,255.92. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Jessica M. Hiebler sold 484 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $104.73, for a total transaction 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 $1,459,831.47. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the business’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $102.83, for a total value of $1,230,772.27. Following the transaction, the vice president now owns 123,624 shares of the company’s stock, valued at $12,712,255.92. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by company insiders.

T. Rowe Price Group Stock Up 1.0 %

T. Rowe Price Group stock traded up $1.20 during mid-day trading on Tuesday, hitting $119.13. 359,872 shares of the company’s stock traded hands, compared to its average volume of 1,258,321. T. Rowe Price Group, Inc. has a one year low of $91.40 and a one year high of $122.27. The company has a market cap of $26.47 billion, a PE ratio of 12.90, a price-to-earnings-growth ratio of 1.71 and a beta of 1.41. The firm has a 50 day moving average price of $109.56 and a 200 day moving average price of $111.99.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings data on Friday, November 1st. The asset manager reported $2.57 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 during the quarter, compared to the consensus estimate of $1.84 billion. During the same quarter in the prior year, the firm earned $2.17 EPS. The company’s quarterly revenue was up 6.9% compared to the same quarter last year. On average, analysts expect that T. Rowe Price Group, Inc. will post 9.32 earnings per share for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be issued a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a dividend yield of 4.16%. The ex-dividend date of this dividend is Friday, December 13th. T. Rowe Price Group’s dividend payout ratio is currently 54.27%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on TROW shares. StockNews.com cut T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $120.00 price objective (down from $121.00) on shares of T. Rowe Price Group in a report on Monday, July 29th. Barclays raised their price objective on shares of T. Rowe Price Group from $101.00 to $110.00 and gave the company an “underweight” rating in a research note on Monday, November 4th. The Goldman Sachs Group reduced their price target on T. Rowe Price Group from $106.00 to $102.00 and set a “sell” rating on the stock in a research report on Thursday, October 3rd. Finally, Wells Fargo & Company lifted their target price on T. Rowe Price Group from $109.00 to $112.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 9th. Four analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. According to MarketBeat.com, T. Rowe Price Group has a consensus rating of “Hold” and an average price target of $115.55.

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.