KBC Group NV Trims Stock Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

KBC Group NV decreased its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 31.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 345,957 shares of the asset manager’s stock after selling 160,358 shares during the quarter. KBC Group NV’s holdings in T. Rowe Price Group were worth $37,685,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Iron Horse Wealth Management LLC grew its holdings in shares of T. Rowe Price Group by 90.9% during the third quarter. Iron Horse Wealth Management LLC now owns 231 shares of the asset manager’s stock worth $25,000 after buying an additional 110 shares during the last quarter. Lynx Investment Advisory purchased a new position in shares of T. Rowe Price Group in the 2nd quarter valued at approximately $29,000. Hexagon Capital Partners LLC increased its holdings in shares of T. Rowe Price Group by 54.7% in the third quarter. Hexagon Capital Partners LLC now owns 294 shares of the asset manager’s stock valued at $32,000 after purchasing an additional 104 shares during the period. Family Firm Inc. purchased a new stake in shares of T. Rowe Price Group during the second quarter worth approximately $36,000. Finally, Versant Capital Management Inc lifted its holdings in shares of T. Rowe Price Group by 660.5% during the second quarter. Versant Capital Management Inc now owns 327 shares of the asset manager’s stock worth $38,000 after purchasing an additional 284 shares during the period. 73.39% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at T. Rowe Price Group

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 stock was sold at an average price of $104.73, for a total value of $50,689.32. Following the completion of the transaction, the insider now directly owns 13,939 shares in the company, valued at approximately $1,459,831.47. The trade was a 3.36 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the stock in a transaction dated 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 transaction, the vice president now owns 123,624 shares in the company, valued at $12,712,255.92. This trade represents a 8.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on TROW. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of T. Rowe Price Group from $115.00 to $120.00 and gave the company a “hold” rating in a research note on Monday. StockNews.com cut shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Barclays lifted their price objective on T. Rowe Price Group from $101.00 to $110.00 and gave the company an “underweight” rating in a report on Monday, November 4th. JPMorgan Chase & Co. cut their target price on T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating for the company in a research note on Monday, November 4th. Finally, The Goldman Sachs Group decreased their price target on T. Rowe Price Group from $106.00 to $102.00 and set a “sell” rating on the stock in a research note on Thursday, October 3rd. Four investment analysts have rated the stock with a sell rating and eight have given a hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $115.55.

T. Rowe Price Group Price Performance

Shares of NASDAQ TROW opened at $119.80 on Friday. The firm’s 50-day moving average is $110.11 and its two-hundred day moving average is $112.06. T. Rowe Price Group, Inc. has a 12-month low of $96.46 and a 12-month high of $122.27. The company has a market capitalization of $26.61 billion, a PE ratio of 13.11, a price-to-earnings-growth ratio of 1.68 and a beta of 1.41.

T. Rowe Price Group (NASDAQ:TROW) last announced its earnings results on Friday, November 1st. The asset manager reported $2.57 EPS for the quarter, beating analysts’ consensus estimates of $2.36 by $0.21. T. Rowe Price Group had a return on equity of 20.35% and a net margin of 30.35%. The firm had revenue of $1.79 billion for the quarter, compared to analysts’ expectations of $1.84 billion. During the same quarter in the prior year, the firm earned $2.17 EPS. T. Rowe Price Group’s quarterly revenue was up 6.9% on a year-over-year basis. On average, analysts forecast that T. Rowe Price Group, Inc. will post 9.33 EPS for the current fiscal year.

T. Rowe Price Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be paid a $1.24 dividend. This represents a $4.96 annualized dividend and a yield of 4.14%. The ex-dividend date of this dividend is Friday, December 13th. T. Rowe Price Group’s payout ratio is 54.27%.

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.