Daymark Wealth Partners LLC Sells 1,062 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Daymark Wealth Partners LLC lowered its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 11.9% during the second quarter, Holdings Channel.com reports. The fund owned 7,891 shares of the asset manager’s stock after selling 1,062 shares during the period. Daymark Wealth Partners LLC’s holdings in T. Rowe Price Group were worth $910,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Massmutual Trust Co. FSB ADV lifted its stake in T. Rowe Price Group by 7.5% in the first quarter. Massmutual Trust Co. FSB ADV now owns 1,236 shares of the asset manager’s stock valued at $151,000 after acquiring an additional 86 shares during the last quarter. ST Germain D J Co. Inc. lifted its stake in T. Rowe Price Group by 0.3% in the 1st quarter. ST Germain D J Co. Inc. now owns 31,065 shares of the asset manager’s stock valued at $3,787,000 after purchasing an additional 88 shares during the last quarter. MCF Advisors LLC grew its holdings in T. Rowe Price Group by 1.6% during the first quarter. MCF Advisors LLC now owns 5,953 shares of the asset manager’s stock worth $726,000 after purchasing an additional 92 shares during the period. Paulson Wealth Management Inc. grew its holdings in T. Rowe Price Group by 4.9% during the first quarter. Paulson Wealth Management Inc. now owns 2,028 shares of the asset manager’s stock worth $247,000 after purchasing an additional 95 shares during the period. Finally, EverSource Wealth Advisors LLC increased its position in T. Rowe Price Group by 29.9% during the second quarter. EverSource Wealth Advisors LLC now owns 430 shares of the asset manager’s stock worth $49,000 after buying an additional 99 shares during the last quarter. Institutional investors own 73.39% of the company’s stock.

T. Rowe Price Group Stock Performance

Shares of T. Rowe Price Group stock opened at $109.51 on Friday. The firm has a 50-day moving average of $108.01 and a 200-day moving average of $113.07. T. Rowe Price Group, Inc. has a 52-week low of $87.43 and a 52-week high of $122.27. The stock has a market cap of $24.45 billion, a PE ratio of 13.01, a PEG ratio of 1.75 and a beta of 1.41.

T. Rowe Price Group (NASDAQ:TROW) last issued 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). T. Rowe Price Group had a return on equity of 19.90% and a net margin of 28.66%. The business had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.79 billion. During the same quarter last year, the firm earned $2.02 EPS. T. Rowe Price Group’s revenue for the quarter was up 7.6% compared to the same quarter last year. Equities research analysts predict that T. Rowe Price Group, Inc. will post 8.96 earnings per share for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were paid a $1.24 dividend. This represents a $4.96 annualized dividend and a dividend yield of 4.53%. The ex-dividend date was Friday, September 13th. T. Rowe Price Group’s dividend payout ratio (DPR) is currently 58.91%.

Insider Buying and Selling

In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the firm’s 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 owns 123,624 shares in the company, valued at approximately $12,712,255.92. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $102.83, for a total transaction of $1,230,772.27. Following the sale, the vice president now directly owns 123,624 shares in the company, valued at $12,712,255.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jessica M. Hiebler sold 484 shares of the firm’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $104.73, for a total transaction of $50,689.32. Following the completion of the transaction, the insider now directly owns 13,939 shares in the company, valued at $1,459,831.47. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms have recently issued reports on TROW. JPMorgan Chase & Co. raised their price objective on T. Rowe Price Group from $102.00 to $107.00 and gave the company an “underweight” rating in a research report on Tuesday, July 23rd. Wells Fargo & Company initiated coverage on T. Rowe Price Group in a report on Thursday, September 12th. They set an “equal weight” rating and a $109.00 price target for the company. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the stock a “hold” rating in a research report on Thursday, August 15th. StockNews.com lowered shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Finally, Barclays assumed coverage on shares of T. Rowe Price Group in a research note on Tuesday, August 27th. They set an “underweight” rating and a $99.00 target price for the company. Three research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $113.30.

T. Rowe Price Group 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.