Rathbones Group PLC Reduces Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Rathbones Group PLC decreased its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 5.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,620 shares of the asset manager’s stock after selling 200 shares during the quarter. Rathbones Group PLC’s holdings in T. Rowe Price Group were worth $417,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of TROW. Lynx Investment Advisory acquired a new position in T. Rowe Price Group in the second quarter valued at $29,000. Family Firm Inc. purchased a new position in shares of T. Rowe Price Group during the 2nd quarter worth about $36,000. Versant Capital Management Inc boosted its position in shares of T. Rowe Price Group by 660.5% in the second quarter. Versant Capital Management Inc now owns 327 shares of the asset manager’s stock worth $38,000 after acquiring an additional 284 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in T. Rowe Price Group by 93.6% in the first quarter. EverSource Wealth Advisors LLC now owns 331 shares of the asset manager’s stock valued at $40,000 after purchasing an additional 160 shares during the period. Finally, Riverview Trust Co increased its position in T. Rowe Price Group by 136.4% during the second quarter. Riverview Trust Co now owns 357 shares of the asset manager’s stock worth $41,000 after purchasing an additional 206 shares during the last quarter. Institutional investors and hedge funds own 73.39% of the company’s stock.

Insiders Place Their Bets

In other news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the stock in a transaction that occurred 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 completion of the transaction, the vice president now directly owns 123,624 shares in the company, valued at approximately $12,712,255.92. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the company’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $102.83, for a total value of $1,230,772.27. Following the sale, the vice president now owns 123,624 shares in the company, valued at approximately $12,712,255.92. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Jessica M. Hiebler sold 1,401 shares of T. Rowe Price Group stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $115.85, for a total value of $162,305.85. Following the completion of the transaction, the insider now owns 14,198 shares of the company’s stock, valued at $1,644,838.30. The disclosure for this sale can be found here. Insiders have sold 13,854 shares of company stock worth $1,443,767 in the last three months. 2.00% of the stock is owned by insiders.

T. Rowe Price Group Stock Up 1.9 %

TROW opened at $107.92 on Wednesday. The firm’s 50 day moving average is $109.29 and its 200-day moving average is $113.42. T. Rowe Price Group, Inc. has a 52-week low of $87.43 and a 52-week high of $122.27. The firm has a market capitalization of $24.02 billion, a P/E ratio of 12.82, a P/E/G ratio of 1.67 and a beta of 1.41.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings results on Friday, July 26th. The asset manager reported $2.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.27 by ($0.01). The firm had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.79 billion. T. Rowe Price Group had a return on equity of 19.90% and a net margin of 28.66%. The business’s quarterly revenue was up 7.6% on a year-over-year basis. During the same period last year, the firm earned $2.02 EPS. Equities analysts expect that T. Rowe Price Group, Inc. will post 9 earnings per share for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be paid a dividend of $1.24 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $4.96 dividend on an annualized basis and a yield of 4.60%. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 58.91%.

Wall Street Analysts Forecast Growth

TROW has been the subject of a number of research analyst reports. Evercore ISI dropped their price objective on T. Rowe Price Group from $115.00 to $108.00 and set an “in-line” rating for the company in a report on Thursday, September 5th. Wells Fargo & Company initiated coverage on T. Rowe Price Group in a research note on Thursday, September 12th. They issued an “equal weight” rating and a $109.00 price objective on the stock. StockNews.com downgraded shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $120.00 price target (down previously from $121.00) on shares of T. Rowe Price Group in a report on Monday, July 29th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of T. Rowe Price Group from $102.00 to $107.00 and gave the stock an “underweight” rating in a research note on Tuesday, July 23rd. Three analysts have rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. According to MarketBeat.com, T. Rowe Price Group presently has a consensus rating of “Hold” and a consensus price target of $113.30.

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.