T. Rowe Price Group, Inc. (NASDAQ:TROW) Short Interest Update

T. Rowe Price Group, Inc. (NASDAQ:TROW) was the recipient of a significant decrease in short interest in December. As of December 31st, there was short interest totalling 10,260,000 shares, a decrease of 14.2% from the December 15th total of 11,960,000 shares. Based on an average daily trading volume, of 1,340,000 shares, the days-to-cover ratio is currently 7.7 days. Currently, 4.7% of the shares of the stock are sold short.

T. Rowe Price Group Stock Up 1.0 %

Shares of T. Rowe Price Group stock traded up $1.08 during trading hours on Friday, reaching $113.21. 1,182,106 shares of the stock traded hands, compared to its average volume of 1,142,590. The company has a 50 day moving average price of $117.80 and a 200 day moving average price of $112.86. The firm has a market capitalization of $25.15 billion, a price-to-earnings ratio of 12.39, a P/E/G ratio of 1.42 and a beta of 1.43. T. Rowe Price Group has a one year low of $100.49 and a one year high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings results on Friday, November 1st. The asset manager reported $2.57 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.84 billion. During the same period in the prior year, the company posted $2.17 EPS. The firm’s revenue for the quarter was up 6.9% compared to the same quarter last year. Sell-side analysts anticipate that T. Rowe Price Group will post 9.46 earnings per share for the current year.

T. Rowe Price Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Friday, December 13th were issued a dividend of $1.24 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $4.96 annualized dividend and a dividend yield of 4.38%. T. Rowe Price Group’s dividend payout ratio (DPR) is 54.27%.

Analysts Set New Price Targets

TROW has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. lowered their target price on shares of T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating on the stock in a research note on Monday, November 4th. Barclays cut their target price on shares of T. Rowe Price Group from $115.00 to $113.00 and set an “underweight” rating on the stock in a report on Friday. Morgan Stanley lifted their price target on shares of T. Rowe Price Group from $129.00 to $132.00 and gave the company an “equal weight” rating in a report on Friday, December 20th. Wells Fargo & Company lowered their price objective on T. Rowe Price Group from $124.00 to $118.00 and set an “equal weight” rating for the company in a research report on Tuesday. Finally, TD Cowen lowered their price objective on T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating for the company in a research report on Monday, November 4th. Four research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $115.82.

Insider Transactions at T. Rowe Price Group

In related news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the firm’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $123.35, for a total value of $499,197.45. Following the sale, the vice president now directly owns 119,577 shares of the company’s stock, valued at $14,749,822.95. This trade represents a 3.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 2.00% of the company’s stock.

Institutional Trading of T. Rowe Price Group

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Principal Financial Group Inc. raised its holdings in T. Rowe Price Group by 2.8% during the 3rd quarter. Principal Financial Group Inc. now owns 275,978 shares of the asset manager’s stock valued at $30,062,000 after buying an additional 7,503 shares during the period. Janus Henderson Group PLC grew its stake in T. Rowe Price Group by 3.8% in the third quarter. Janus Henderson Group PLC now owns 29,989 shares of the asset manager’s stock valued at $3,267,000 after purchasing an additional 1,100 shares during the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in T. Rowe Price Group in the second quarter valued at about $15,907,000. Aigen Investment Management LP acquired a new stake in T. Rowe Price Group in the third quarter worth about $516,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in T. Rowe Price Group by 3.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 6,840,807 shares of the asset manager’s stock worth $745,169,000 after acquiring an additional 231,286 shares in the last quarter. Hedge funds and other institutional investors own 73.39% of the company’s stock.

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.