T. Rowe Price Group, Inc. (NASDAQ:TROW) Holdings Reduced by MetLife Investment Management LLC

MetLife Investment Management LLC lowered its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 2.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 57,821 shares of the asset manager’s stock after selling 1,665 shares during the period. MetLife Investment Management LLC’s holdings in T. Rowe Price Group were worth $6,298,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. CreativeOne Wealth LLC increased its stake in shares of T. Rowe Price Group by 57.7% during the third quarter. CreativeOne Wealth LLC now owns 20,664 shares of the asset manager’s stock valued at $2,251,000 after acquiring an additional 7,561 shares during the period. Blueshift Asset Management LLC raised its position in T. Rowe Price Group by 127.6% in the third quarter. Blueshift Asset Management LLC now owns 4,429 shares of the asset manager’s stock worth $482,000 after acquiring an additional 2,483 shares in the last quarter. Bridgewater Associates LP lifted its holdings in T. Rowe Price Group by 794.1% in the 3rd quarter. Bridgewater Associates LP now owns 15,879 shares of the asset manager’s stock valued at $1,730,000 after acquiring an additional 14,103 shares during the last quarter. RBO & Co. LLC boosted its position in shares of T. Rowe Price Group by 5.0% during the 3rd quarter. RBO & Co. LLC now owns 82,435 shares of the asset manager’s stock valued at $8,980,000 after purchasing an additional 3,960 shares in the last quarter. Finally, Townsquare Capital LLC grew its stake in shares of T. Rowe Price Group by 6.6% in the 3rd quarter. Townsquare Capital LLC now owns 4,839 shares of the asset manager’s stock worth $527,000 after purchasing an additional 299 shares during the last quarter. Institutional investors own 73.39% of the company’s stock.

T. Rowe Price Group Price Performance

NASDAQ TROW opened at $123.84 on Friday. The firm has a market capitalization of $27.51 billion, a price-to-earnings ratio of 13.55, a price-to-earnings-growth ratio of 1.75 and a beta of 1.41. The company has a 50 day simple moving average of $113.76 and a 200-day simple moving average of $112.84. T. Rowe Price Group, Inc. has a 52-week low of $97.50 and a 52-week high of $124.83.

T. Rowe Price Group (NASDAQ:TROW) last released its earnings results on Friday, November 1st. The asset manager reported $2.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.36 by $0.21. T. Rowe Price Group had a net margin of 30.35% and a return on equity of 20.35%. The company had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.84 billion. During the same quarter in the prior year, the firm earned $2.17 EPS. The company’s revenue was up 6.9% compared to the same quarter last year. On average, analysts predict that T. Rowe Price Group, Inc. will post 9.39 EPS for the current year.

T. Rowe Price Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be paid a $1.24 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $4.96 dividend on an annualized basis and a yield of 4.01%. T. Rowe Price Group’s dividend payout ratio (DPR) is currently 54.27%.

Analysts Set New Price Targets

A number of analysts recently weighed in on TROW shares. Morgan Stanley raised their target price on shares of T. Rowe Price Group from $127.00 to $129.00 and gave the stock an “equal weight” rating in a report on Monday, November 4th. Evercore ISI raised their price objective on T. Rowe Price Group from $112.00 to $113.00 and gave the stock an “in-line” rating in a research note on Thursday, November 7th. Deutsche Bank Aktiengesellschaft boosted their target price on T. Rowe Price Group from $115.00 to $120.00 and gave the stock a “hold” rating in a research report on Monday, November 11th. TD Cowen reduced their target price on T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating for the company in a report on Monday, November 4th. Finally, The Goldman Sachs Group dropped 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 analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. According to data from MarketBeat, T. Rowe Price Group has an average rating of “Hold” and a consensus price target of $115.55.

Insiders Place Their Bets

In related news, insider Jessica M. Hiebler sold 484 shares of T. Rowe Price Group stock in a transaction on Friday, September 13th. The shares were sold at an average price of $104.73, for a total value of $50,689.32. Following the completion of the sale, the insider now owns 13,939 shares of the company’s stock, valued at approximately $1,459,831.47. The trade was a 3.36 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the stock in a transaction on Friday, September 6th. The stock was sold at an average price of $102.83, for a total transaction of $1,230,772.27. Following the transaction, the vice president now directly owns 123,624 shares in the company, valued at $12,712,255.92. The trade was a 8.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

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.