Weaver C. Barksdale & Associates Inc. Sells 128 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Weaver C. Barksdale & Associates Inc. lessened its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 1.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,260 shares of the asset manager’s stock after selling 128 shares during the period. Weaver C. Barksdale & Associates Inc.’s holdings in T. Rowe Price Group were worth $952,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of TROW. Principal Securities Inc. acquired a new position in T. Rowe Price Group during the 4th quarter worth approximately $53,000. Norges Bank bought a new position in shares of T. Rowe Price Group in the 4th quarter valued at $80,831,000. Trexquant Investment LP acquired a new stake in shares of T. Rowe Price Group during the 4th quarter valued at $671,000. US Bancorp DE grew its position in T. Rowe Price Group by 2.2% during the 4th quarter. US Bancorp DE now owns 63,705 shares of the asset manager’s stock worth $6,860,000 after acquiring an additional 1,348 shares during the last quarter. Finally, Commerce Bank increased its holdings in T. Rowe Price Group by 5.8% in the 4th quarter. Commerce Bank now owns 95,240 shares of the asset manager’s stock worth $10,256,000 after purchasing an additional 5,263 shares in the last quarter. Institutional investors and hedge funds own 73.39% of the company’s stock.

Insiders Place Their Bets

In other 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 in the company, valued at approximately $1,459,831.47. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 1,401 shares of the stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $115.85, for a total value of $162,305.85. Following the transaction, the insider now owns 14,198 shares in the company, valued at $1,644,838.30. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Jessica M. Hiebler sold 484 shares of the firm’s stock in a transaction that occurred 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 directly owns 13,939 shares of the company’s stock, valued at approximately $1,459,831.47. The disclosure for this sale can be found here. In the last three months, insiders have sold 13,854 shares of company stock worth $1,443,767. Corporate insiders own 2.00% of the company’s stock.

T. Rowe Price Group Stock Up 2.2 %

Shares of NASDAQ TROW opened at $110.55 on Friday. The company has a market capitalization of $24.61 billion, a PE ratio of 13.13, a P/E/G ratio of 1.69 and a beta of 1.41. T. Rowe Price Group, Inc. has a twelve month low of $87.43 and a twelve month high of $122.27. The firm has a fifty day simple moving average of $109.00 and a 200 day simple moving average of $113.36.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings data on Friday, July 26th. The asset manager reported $2.26 earnings per share for the quarter, missing the consensus estimate of $2.27 by ($0.01). The business had revenue of $1.73 billion during the quarter, compared to the consensus estimate 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 revenue was up 7.6% on a year-over-year basis. During the same period last year, the business posted $2.02 earnings per share. As a group, 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 declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be paid a $1.24 dividend. This represents a $4.96 annualized dividend and a yield of 4.49%. The ex-dividend date is Friday, September 13th. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 58.91%.

Analysts Set New Price Targets

TROW has been the topic of a number of recent research reports. Barclays started coverage on T. Rowe Price Group in a research note on Tuesday, August 27th. They set an “underweight” rating and a $99.00 price target on the stock. Wells Fargo & Company began coverage on shares of T. Rowe Price Group in a research report on Thursday, September 12th. They set an “equal weight” rating and a $109.00 target price on the stock. Evercore ISI decreased their price target on shares of T. Rowe Price Group from $115.00 to $108.00 and set an “in-line” rating for the company in a research report on Thursday, September 5th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the stock a “hold” rating in a report on Thursday, August 15th. Finally, TD Cowen decreased their price objective on T. Rowe Price Group from $123.00 to $118.00 and set a “hold” rating for the company in a report on Monday, July 29th. Three analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $113.30.

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.