FCF Advisors LLC lessened its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW – Get Rating) by 3.9% in the second quarter, HoldingsChannel reports. The firm owned 7,447 shares of the asset manager's stock after selling 306 shares during the period. FCF Advisors LLC's holdings in T. Rowe Price Group were worth $846,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Massmutual Trust Co. FSB ADV grew its stake in shares of T. Rowe Price Group by 24.1% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 365 shares of the asset manager's stock valued at $55,000 after buying an additional 71 shares during the period. Claro Advisors LLC boosted its stake in T. Rowe Price Group by 7.2% during the 4th quarter. Claro Advisors LLC now owns 1,104 shares of the asset manager's stock valued at $217,000 after purchasing an additional 74 shares during the last quarter. SkyOak Wealth LLC boosted its stake in T. Rowe Price Group by 6.0% during the 1st quarter. SkyOak Wealth LLC now owns 1,360 shares of the asset manager's stock valued at $206,000 after purchasing an additional 77 shares during the last quarter. Lindbrook Capital LLC boosted its stake in T. Rowe Price Group by 7.6% during the 1st quarter. Lindbrook Capital LLC now owns 1,095 shares of the asset manager's stock valued at $166,000 after purchasing an additional 77 shares during the last quarter. Finally, Triangle Securities Wealth Management boosted its stake in T. Rowe Price Group by 4.3% during the 1st quarter. Triangle Securities Wealth Management now owns 1,879 shares of the asset manager's stock valued at $284,000 after purchasing an additional 78 shares during the last quarter. Institutional investors own 74.94% of the company's stock.
Get T. Rowe Price Group alerts:Wall Street Analysts Forecast Growth
A number of equities analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft lifted their price target on T. Rowe Price Group from $120.00 to $138.00 and gave the company a "hold" rating in a research note on Friday, August 12th. The Goldman Sachs Group cut their price target on T. Rowe Price Group from $118.00 to $100.00 and set a "sell" rating for the company in a research note on Wednesday, June 29th. Morgan Stanley cut their price target on T. Rowe Price Group from $124.00 to $123.00 and set an "equal weight" rating for the company in a research note on Friday, July 29th. UBS Group cut their target price on T. Rowe Price Group from $88.00 to $84.00 and set a "sell" rating on the stock in a research note on Friday, July 29th. Finally, TheStreet downgraded T. Rowe Price Group from a "b-" rating to a "c" rating in a research note on Wednesday, July 13th. Five investment analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, T. Rowe Price Group currently has a consensus rating of "Hold" and an average price target of $132.30.
Insider Buying and Selling at T. Rowe Price Group
In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 959 shares of the business's stock in a transaction on Tuesday, August 2nd. The shares were sold at an average price of $124.57, for a total transaction of $119,462.63. Following the sale, the insider now owns 12,183 shares of the company's stock, valued at approximately $1,517,636.31. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Jessica M. Hiebler sold 959 shares of the company's stock in a transaction on Tuesday, August 2nd. The shares were sold at an average price of $124.57, for a total value of $119,462.63. Following the transaction, the insider now owns 12,183 shares of the company's stock, valued at $1,517,636.31. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Andrew Justin Mackenzi Thomson sold 11,891 shares of the company's stock in a transaction on Thursday, August 4th. The stock was sold at an average price of $126.91, for a total transaction of $1,509,086.81. Following the completion of the transaction, the vice president now directly owns 136,410 shares in the company, valued at approximately $17,311,793.10. The disclosure for this sale can be found here. Insiders own 1.00% of the company's stock.T. Rowe Price Group Trading Up 2.7 %
NASDAQ:TROW opened at $109.63 on Thursday. The stock has a market capitalization of $24.74 billion, a PE ratio of 10.58, a price-to-earnings-growth ratio of 2.19 and a beta of 1.29. The firm's 50 day moving average is $120.75 and its 200 day moving average is $125.85. T. Rowe Price Group, Inc. has a 12 month low of $104.72 and a 12 month high of $223.36.
T. Rowe Price Group (NASDAQ:TROW – Get Rating) last issued its earnings results on Thursday, July 28th. The asset manager reported $1.79 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.24 by ($0.45). T. Rowe Price Group had a net margin of 33.26% and a return on equity of 28.18%. The business had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.68 billion. During the same period in the previous year, the firm earned $3.31 EPS. The company's revenue was down 20.4% compared to the same quarter last year. Research analysts predict that T. Rowe Price Group, Inc. will post 8.24 earnings per share for the current year.
T. Rowe Price Group Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 29th. Shareholders of record on Thursday, September 15th will be issued a dividend of $1.20 per share. The ex-dividend date of this dividend is Wednesday, September 14th. This represents a $4.80 dividend on an annualized basis and a yield of 4.38%. T. Rowe Price Group's payout ratio is 46.33%.
About T. Rowe Price Group
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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.
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