Kesler Norman & Wride LLC Reduces Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Kesler Norman & Wride LLC lowered its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 13.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,528 shares of the asset manager’s stock after selling 1,915 shares during the period. Kesler Norman & Wride LLC’s holdings in T. Rowe Price Group were worth $1,365,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in TROW. The Manufacturers Life Insurance Company raised its holdings in shares of T. Rowe Price Group by 5.5% in the 4th quarter. The Manufacturers Life Insurance Company now owns 165,722 shares of the asset manager’s stock valued at $17,847,000 after buying an additional 8,678 shares during the period. Elo Mutual Pension Insurance Co boosted its stake in shares of T. Rowe Price Group by 4.4% in the fourth quarter. Elo Mutual Pension Insurance Co now owns 19,582 shares of the asset manager’s stock valued at $2,109,000 after purchasing an additional 833 shares during the period. Nebula Research & Development LLC acquired a new position in shares of T. Rowe Price Group in the fourth quarter valued at approximately $807,000. Power Corp of Canada increased its stake in T. Rowe Price Group by 84.4% during the 4th quarter. Power Corp of Canada now owns 75,514 shares of the asset manager’s stock worth $8,132,000 after buying an additional 34,569 shares during the period. Finally, Studio Investment Management LLC lifted its holdings in T. Rowe Price Group by 19.9% during the 4th quarter. Studio Investment Management LLC now owns 16,772 shares of the asset manager’s stock worth $1,806,000 after buying an additional 2,778 shares in the last quarter. Hedge funds and other institutional investors own 73.39% of the company’s stock.

T. Rowe Price Group Trading Down 1.7 %

Shares of TROW opened at $106.63 on Tuesday. The company’s 50 day simple moving average is $107.17 and its 200-day simple moving average is $112.67. T. Rowe Price Group, Inc. has a 12-month low of $87.43 and a 12-month high of $122.27. The firm has a market cap of $23.81 billion, a PE ratio of 12.66, a price-to-earnings-growth ratio of 1.72 and a beta of 1.41.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings results on Friday, July 26th. The asset manager reported $2.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.27 by ($0.01). T. Rowe Price Group had a return on equity of 19.90% and a net margin of 28.66%. The company had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.79 billion. During the same period in the prior year, the business earned $2.02 EPS. The business’s quarterly revenue was up 7.6% compared to the same quarter last year. As a group, equities research analysts forecast that T. Rowe Price Group, Inc. will post 8.96 EPS for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were paid a $1.24 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 4.65%. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 58.91%.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. JPMorgan Chase & Co. upped their price objective on T. Rowe Price Group from $102.00 to $107.00 and gave the stock an “underweight” rating in a research report on Tuesday, July 23rd. Wells Fargo & Company began coverage on T. Rowe Price Group in a report on Thursday, September 12th. They set an “equal weight” rating and a $109.00 price target on the stock. StockNews.com cut T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. The Goldman Sachs Group lowered their price objective on T. Rowe Price Group from $106.00 to $102.00 and set a “sell” rating for the company in a research report on Thursday, October 3rd. Finally, Barclays assumed coverage on shares of T. Rowe Price Group in a report on Tuesday, August 27th. They set an “underweight” rating and a $99.00 price target for the company. Four investment analysts have rated the stock with a sell rating and eight have given a hold rating to the company’s stock. Based on data from MarketBeat, T. Rowe Price Group currently has a consensus rating of “Hold” and a consensus price target of $112.36.

Insider Buying and Selling

In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 484 shares of the business’s stock in a transaction 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 sale, the insider now directly owns 13,939 shares in the company, valued at approximately $1,459,831.47. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the company’s stock in a transaction on 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 sale, the vice president now owns 123,624 shares of the company’s stock, valued at approximately $12,712,255.92. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jessica M. Hiebler sold 484 shares of T. Rowe Price Group stock in a transaction on Friday, September 13th. The stock was sold at an average price of $104.73, for a total value of $50,689.32. Following the transaction, the insider now directly owns 13,939 shares of the company’s stock, valued at $1,459,831.47. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by corporate insiders.

About T. Rowe Price Group

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.