Voya Investment Management LLC Sells 14,376 Shares of T. Rowe Price Group, Inc. $TROW

by · The Cerbat Gem

Voya Investment Management LLC lowered its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROWFree Report) by 22.6% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 49,358 shares of the asset manager’s stock after selling 14,376 shares during the period. Voya Investment Management LLC’s holdings in T. Rowe Price Group were worth $5,066,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in the business. TD Waterhouse Canada Inc. increased its holdings in shares of T. Rowe Price Group by 66.7% in the second quarter. TD Waterhouse Canada Inc. now owns 250 shares of the asset manager’s stock worth $25,000 after buying an additional 100 shares during the period. Vermillion & White Wealth Management Group LLC grew its position in T. Rowe Price Group by 120.0% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 319 shares of the asset manager’s stock worth $31,000 after acquiring an additional 174 shares during the last quarter. Atlantic Union Bankshares Corp purchased a new position in T. Rowe Price Group in the 2nd quarter worth approximately $35,000. Curio Wealth LLC increased its stake in T. Rowe Price Group by 20,700.0% in the 2nd quarter. Curio Wealth LLC now owns 416 shares of the asset manager’s stock worth $40,000 after purchasing an additional 414 shares during the period. Finally, Cromwell Holdings LLC lifted its position in T. Rowe Price Group by 3,483.3% in the second quarter. Cromwell Holdings LLC now owns 430 shares of the asset manager’s stock valued at $41,000 after purchasing an additional 418 shares during the last quarter. Hedge funds and other institutional investors own 73.39% of the company’s stock.

Insider Buying and Selling at T. Rowe Price Group

In related news, VP Arif Husain sold 4,260 shares of the stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $101.96, for a total value of $434,349.60. Following the completion of the transaction, the vice president directly owned 47,102 shares in the company, valued at $4,802,519.92. This trade represents a 8.29% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.00% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on TROW. Bank of America lifted their target price on shares of T. Rowe Price Group from $91.00 to $97.00 and gave the stock an “underperform” rating in a research note on Thursday, October 2nd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of T. Rowe Price Group in a research note on Wednesday, October 8th. Jefferies Financial Group raised their target price on T. Rowe Price Group from $104.00 to $106.00 and gave the stock a “hold” rating in a research note on Tuesday, October 7th. Keefe, Bruyette & Woods dropped their price objective on T. Rowe Price Group from $117.00 to $115.00 and set a “market perform” rating for the company in a report on Tuesday, December 16th. Finally, Citigroup lifted their price objective on T. Rowe Price Group from $105.00 to $107.00 in a research report on Monday, November 3rd. Twelve equities research analysts have rated the stock with a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, T. Rowe Price Group currently has an average rating of “Reduce” and an average price target of $108.31.

Read Our Latest Analysis on T. Rowe Price Group

T. Rowe Price Group Stock Performance

T. Rowe Price Group stock opened at $103.89 on Friday. T. Rowe Price Group, Inc. has a fifty-two week low of $77.85 and a fifty-two week high of $118.32. The stock’s 50 day simple moving average is $102.87 and its two-hundred day simple moving average is $103.03. The stock has a market cap of $22.67 billion, a price-to-earnings ratio of 11.32, a PEG ratio of 2.83 and a beta of 1.53.

T. Rowe Price Group (NASDAQ:TROWGet Free Report) last released its earnings results on Friday, October 31st. The asset manager reported $2.81 EPS for the quarter, beating analysts’ consensus estimates of $2.55 by $0.26. The company had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.88 billion. T. Rowe Price Group had a return on equity of 19.95% and a net margin of 28.89%.The firm’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same quarter last year, the business posted $2.57 EPS. On average, analysts predict that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Monday, December 15th will be issued a dividend of $1.27 per share. This represents a $5.08 dividend on an annualized basis and a dividend yield of 4.9%. The ex-dividend date is Monday, December 15th. T. Rowe Price Group’s payout ratio is 55.34%.

About T. Rowe Price Group

(Free Report)

T. Rowe Price Group, Inc is a global investment management firm headquartered in Baltimore, Maryland, founded by Thomas Rowe Price Jr. in 1937. The company provides a broad range of investment products and services for individual investors, financial intermediaries, retirement plan sponsors and institutional clients. Its offerings are built around active investment management and in-house research across equity, fixed income and multi-asset strategies, reflecting a long history as a research-driven asset manager.

The firm’s product lineup includes mutual funds, separate accounts, collective investment trusts, target-date and target-risk funds, and managed account solutions, as well as services for defined contribution and defined benefit retirement plans.

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