Universal Beteiligungs und Servicegesellschaft mbH Has $18.36 Million Position in T. Rowe Price Group, Inc. $TROW

Universal Beteiligungs und Servicegesellschaft mbH cut its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 0.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 190,252 shares of the asset manager’s stock after selling 955 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH’s holdings in T. Rowe Price Group were worth $18,359,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Zions Bancorporation National Association UT bought a new position in shares of T. Rowe Price Group in the first quarter worth $27,000. Atlantic Union Bankshares Corp bought a new stake in T. Rowe Price Group during the second quarter worth about $35,000. Curio Wealth LLC grew its stake in T. Rowe Price Group by 20,700.0% during the second quarter. Curio Wealth LLC now owns 416 shares of the asset manager’s stock worth $40,000 after buying an additional 414 shares in the last quarter. Cromwell Holdings LLC increased its holdings in T. Rowe Price Group by 3,483.3% in the 2nd quarter. Cromwell Holdings LLC now owns 430 shares of the asset manager’s stock valued at $41,000 after buying an additional 418 shares during the period. Finally, Bogart Wealth LLC increased its holdings in T. Rowe Price Group by 1,787.5% in the 2nd quarter. Bogart Wealth LLC now owns 453 shares of the asset manager’s stock valued at $44,000 after buying an additional 429 shares during the period. 73.39% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. JPMorgan Chase & Co. upped their price target on shares of T. Rowe Price Group from $109.00 to $111.00 and gave the stock an “underweight” rating in a report on Monday, November 3rd. Weiss Ratings restated a “hold (c)” rating on shares of T. Rowe Price Group in a research report on Wednesday, October 8th. Keefe, Bruyette & Woods upped their target price on T. Rowe Price Group from $115.00 to $117.00 and gave the stock a “market perform” rating in a research note on Monday, November 3rd. Morgan Stanley lifted their price target on T. Rowe Price Group from $125.00 to $126.00 and gave the company an “equal weight” rating in a research note on Monday, October 27th. Finally, Jefferies Financial Group boosted their price target on T. Rowe Price Group from $104.00 to $106.00 and gave the stock a “hold” rating in a report on Tuesday, October 7th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, T. Rowe Price Group presently has an average rating of “Reduce” and an average price target of $109.38.

Insider Activity at T. Rowe Price Group

In other news, Director Robert F. Maclellan sold 3,090 shares of T. Rowe Price Group stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $105.01, for a total transaction of $324,480.90. Following the sale, the director directly owned 47,335 shares of the company’s stock, valued at approximately $4,970,648.35. This trade represents a 6.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 1.60% of the company’s stock.

T. Rowe Price Group Price Performance

Shares of T. Rowe Price Group stock opened at $97.48 on Wednesday. The company’s 50 day moving average price is $103.62 and its two-hundred day moving average price is $101.51. The firm has a market capitalization of $21.27 billion, a P/E ratio of 10.89, a P/E/G ratio of 5.61 and a beta of 1.51. T. Rowe Price Group, Inc. has a fifty-two week low of $77.85 and a fifty-two week high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings results on Friday, October 31st. The asset manager reported $2.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.55 by $0.26. T. Rowe Price Group had a net margin of 28.72% and a return on equity of 19.77%. The company had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.88 billion. During the same period in the prior year, the business earned $2.57 earnings per share. The company’s revenue for the quarter was up 6.0% compared to the same quarter last year. On average, analysts expect that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current year.

T. Rowe Price Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Monday, December 15th will be given a $1.27 dividend. The ex-dividend date is Monday, December 15th. This represents a $5.08 annualized dividend and a yield of 5.2%. T. Rowe Price Group’s dividend payout ratio (DPR) is currently 55.34%.

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.