T. Rowe Price Group, Inc. (NASDAQ:TROW) Shares Sold by Westpac Banking Corp

Westpac Banking Corp cut its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 96.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 888 shares of the asset manager’s stock after selling 25,408 shares during the period. Westpac Banking Corp’s holdings in T. Rowe Price Group were worth $99,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in TROW. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its holdings in shares of T. Rowe Price Group by 8.8% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 255,660 shares of the asset manager’s stock valued at $28,864,000 after purchasing an additional 20,662 shares in the last quarter. MGO One Seven LLC acquired a new position in shares of T. Rowe Price Group in the first quarter valued at approximately $203,000. Mitsubishi UFJ Trust & Banking Corp grew its holdings in shares of T. Rowe Price Group by 4.0% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 201,311 shares of the asset manager’s stock valued at $22,728,000 after purchasing an additional 7,658 shares in the last quarter. Great Lakes Advisors LLC grew its holdings in shares of T. Rowe Price Group by 2.4% in the first quarter. Great Lakes Advisors LLC now owns 23,679 shares of the asset manager’s stock valued at $2,673,000 after purchasing an additional 562 shares in the last quarter. Finally, TCTC Holdings LLC grew its holdings in shares of T. Rowe Price Group by 0.9% in the first quarter. TCTC Holdings LLC now owns 65,705 shares of the asset manager’s stock valued at $7,418,000 after purchasing an additional 610 shares in the last quarter. 75.85% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently issued reports on TROW. The Goldman Sachs Group lifted their price target on shares of T. Rowe Price Group from $89.50 to $100.00 and gave the stock a “sell” rating in a research note on Monday, July 31st. Citigroup upgraded shares of T. Rowe Price Group from a “sell” rating to a “neutral” rating and decreased their price target for the stock from $100.00 to $95.00 in a research note on Tuesday, October 31st. UBS Group lifted their price target on shares of T. Rowe Price Group from $83.00 to $90.00 and gave the stock a “sell” rating in a research note on Monday, July 31st. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of T. Rowe Price Group from $113.00 to $110.00 and set a “hold” rating for the company in a research report on Wednesday, October 11th. Finally, StockNews.com began coverage on shares of T. Rowe Price Group in a research report on Thursday, October 5th. They set a “hold” rating for the company. Five investment analysts have rated the stock with a sell rating and seven have issued a hold rating to the stock. Based on data from MarketBeat, T. Rowe Price Group presently has a consensus rating of “Hold” and a consensus target price of $94.45.

Insiders Place Their Bets

In other T. Rowe Price Group news, insider William J. Stromberg sold 10,000 shares of the company’s stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $98.48, for a total transaction of $984,800.00. Following the completion of the transaction, the insider now owns 49,000 shares in the company, valued at approximately $4,825,520. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $111.82, for a total value of $1,338,373.58. Following the completion of the transaction, the vice president now owns 129,436 shares in the company, valued at approximately $14,473,533.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider William J. Stromberg sold 10,000 shares of the stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $98.48, for a total transaction of $984,800.00. Following the completion of the sale, the insider now directly owns 49,000 shares in the company, valued at $4,825,520. The disclosure for this sale can be found here. In the last quarter, insiders sold 27,039 shares of company stock worth $2,848,848. 2.10% of the stock is owned by insiders.

T. Rowe Price Group Stock Performance

Shares of TROW opened at $97.79 on Monday. The stock has a market capitalization of $21.85 billion, a P/E ratio of 13.93, a P/E/G ratio of 2.21 and a beta of 1.32. T. Rowe Price Group, Inc. has a 1 year low of $87.43 and a 1 year high of $132.76. The company’s fifty day moving average is $100.22 and its two-hundred day moving average is $107.68.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings data on Friday, October 27th. The asset manager reported $2.17 EPS for the quarter, topping analysts’ consensus estimates of $1.78 by $0.39. The company had revenue of $1.67 billion during the quarter, compared to the consensus estimate of $1.65 billion. T. Rowe Price Group had a net margin of 25.50% and a return on equity of 18.79%. T. Rowe Price Group’s quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.86 EPS. Sell-side analysts predict that T. Rowe Price Group, Inc. will post 7.36 EPS for the current year.

T. Rowe Price Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 15th will be given a dividend of $1.22 per share. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $4.88 dividend on an annualized basis and a yield of 4.99%. T. Rowe Price Group’s payout ratio is currently 69.52%.

T. Rowe Price Group Company 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.