T. Rowe Price Group, Inc. (NASDAQ:TROW) Shares Sold by Sienna Gestion

Sienna Gestion lessened its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 4.3% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 91,570 shares of the asset manager’s stock after selling 4,149 shares during the period. T. Rowe Price Group makes up 0.9% of Sienna Gestion’s holdings, making the stock its 29th largest position. Sienna Gestion’s holdings in T. Rowe Price Group were worth $10,554,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft increased their price objective on T. Rowe Price Group from $112.00 to $113.00 and gave the company a “hold” rating in a research report on Thursday, August 15th. Evercore ISI reduced their target price 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. Keefe, Bruyette & Woods reissued 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 research note on Monday, July 29th. Barclays initiated coverage on T. Rowe Price Group in a report on Tuesday, August 27th. They set an “underweight” rating and a $99.00 price objective on the stock. Finally, Wells Fargo & Company began coverage on shares of T. Rowe Price Group in a report on Thursday, September 12th. They issued an “equal weight” rating and a $109.00 target price for the company. Three research analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $113.30.

T. Rowe Price Group Stock Performance

TROW stock opened at $108.13 on Thursday. The firm has a 50 day simple moving average of $109.13 and a 200 day simple moving average of $113.38. 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 $24.07 billion, a P/E ratio of 12.84, a P/E/G ratio of 1.69 and a beta of 1.41.

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

T. Rowe Price Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be paid a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a dividend yield of 4.59%. The ex-dividend date is Friday, September 13th. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 58.91%.

Insider Transactions at T. Rowe Price Group

In related 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, insider Jessica M. Hiebler sold 1,401 shares of the company’s stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $115.85, for a total value of $162,305.85. Following the completion of the sale, the insider now directly owns 14,198 shares in the company, valued at $1,644,838.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the firm’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 transaction, the vice president now owns 123,624 shares in the company, valued at $12,712,255.92. The disclosure for this sale can be found here. Insiders sold 13,854 shares of company stock valued at $1,443,767 in the last three months. Corporate insiders own 2.00% of the company’s stock.

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.