T. Rowe Price Group Inc (NASDAQ:TROW) Shares Sold by Cetera Advisors LLC

Cetera Advisors LLC trimmed its position in shares of T. Rowe Price Group Inc (NASDAQ:TROW) by 6.9% during the third quarter, Holdings Channel reports. The firm owned 5,207 shares of the asset manager’s stock after selling 383 shares during the quarter. Cetera Advisors LLC’s holdings in T. Rowe Price Group were worth $597,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in TROW. North Star Investment Management Corp. purchased a new stake in shares of T. Rowe Price Group during the third quarter worth $27,000. Kistler Tiffany Companies LLC increased its holdings in T. Rowe Price Group by 66.7% in the second quarter. Kistler Tiffany Companies LLC now owns 250 shares of the asset manager’s stock valued at $27,000 after buying an additional 100 shares during the last quarter. Mechanics Bank Trust Department purchased a new position in T. Rowe Price Group in the third quarter valued at $31,000. AdvisorNet Financial Inc increased its holdings in T. Rowe Price Group by 121.1% in the second quarter. AdvisorNet Financial Inc now owns 294 shares of the asset manager’s stock valued at $32,000 after buying an additional 161 shares during the last quarter. Finally, Usca Ria LLC purchased a new position in T. Rowe Price Group in the third quarter valued at $45,000. Institutional investors own 69.94% of the company’s stock.

In other news, VP W. Sharps Robert sold 19,064 shares of the stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $118.50, for a total transaction of $2,259,084.00. Following the completion of the sale, the vice president now owns 467,715 shares in the company, valued at $55,424,227.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 3.10% of the stock is currently owned by corporate insiders.

Several brokerages have issued reports on TROW. BMO Capital Markets began coverage on T. Rowe Price Group in a report on Monday, October 7th. They set a “market perform” rating and a $101.00 price objective on the stock. Deutsche Bank dropped their price objective on T. Rowe Price Group from $115.00 to $112.00 and set a “hold” rating on the stock in a report on Friday, August 9th. Credit Suisse Group set a $135.00 price objective on T. Rowe Price Group and gave the stock a “buy” rating in a report on Friday, September 13th. Citigroup dropped their price objective on T. Rowe Price Group from $116.00 to $110.00 and set a “neutral” rating on the stock in a report on Tuesday, October 15th. Finally, Wells Fargo & Co set a $112.00 price objective on T. Rowe Price Group and gave the stock a “hold” rating in a report on Friday, October 11th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $110.54.

Shares of TROW opened at $121.46 on Monday. T. Rowe Price Group Inc has a fifty-two week low of $84.59 and a fifty-two week high of $122.13. The company has a market capitalization of $28.25 billion, a price-to-earnings ratio of 16.99, a price-to-earnings-growth ratio of 1.75 and a beta of 1.04. The firm has a 50-day simple moving average of $113.89 and a 200-day simple moving average of $109.95. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.60 and a current ratio of 3.60.

T. Rowe Price Group (NASDAQ:TROW) last announced its earnings results on Thursday, October 24th. The asset manager reported $2.13 earnings per share for the quarter, topping the consensus estimate of $1.98 by $0.15. T. Rowe Price Group had a net margin of 35.28% and a return on equity of 28.84%. The business had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.43 billion. During the same quarter in the prior year, the firm earned $1.99 earnings per share. The business’s quarterly revenue was up 2.3% compared to the same quarter last year. Equities research analysts forecast that T. Rowe Price Group Inc will post 7.86 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 16th will be paid a dividend of $0.76 per share. The ex-dividend date is Friday, December 13th. This represents a $3.04 annualized dividend and a dividend yield of 2.50%. T. Rowe Price Group’s dividend payout ratio (DPR) is 42.52%.

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.

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

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