Elo Mutual Pension Insurance Co Sells 804 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Elo Mutual Pension Insurance Co trimmed its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 3.9% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 19,616 shares of the asset manager’s stock after selling 804 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in T. Rowe Price Group were worth $2,262,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Principal Securities Inc. bought a new position in T. Rowe Price Group in the fourth quarter valued at 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 position in shares of T. Rowe Price Group during the 4th quarter worth $671,000. US Bancorp DE lifted its position in shares of 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 buying an additional 1,348 shares during the last quarter. Finally, Commerce Bank boosted its stake in T. Rowe Price Group by 5.8% in the fourth quarter. Commerce Bank now owns 95,240 shares of the asset manager’s stock valued at $10,256,000 after buying an additional 5,263 shares in the last quarter. 73.39% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have commented on TROW. JPMorgan Chase & Co. boosted their target price on 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. Evercore ISI dropped their price objective 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 note on Thursday, September 5th. TD Cowen decreased their target price on shares of T. Rowe Price Group from $123.00 to $118.00 and set a “hold” rating on the stock in a research note on Monday, July 29th. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $120.00 price target (down from $121.00) on shares of T. Rowe Price Group in a research note on Monday, July 29th. Finally, StockNews.com lowered T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Three investment 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 stock has a consensus rating of “Hold” and an average target price of $113.30.

T. Rowe Price Group Price Performance

Shares of TROW opened at $110.55 on Friday. The business has a 50-day moving average of $109.00 and a 200-day moving average of $113.36. T. Rowe Price Group, Inc. has a 1 year low of $87.43 and a 1 year high of $122.27. The company has a market capitalization of $24.61 billion, a price-to-earnings ratio of 13.13, a price-to-earnings-growth ratio of 1.69 and a beta of 1.41.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings results on Friday, July 26th. The asset manager reported $2.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 firm 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 posted $2.02 EPS. The firm’s revenue for the quarter was up 7.6% on a year-over-year basis. As a group, sell-side analysts anticipate 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. Shareholders of record on Friday, September 13th will be given 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 4.49%. T. Rowe Price Group’s dividend payout ratio (DPR) is currently 58.91%.

Insiders Place Their Bets

In related news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the company’s stock in a transaction dated 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 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 filing with the SEC, which can be accessed through the SEC website. In related news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the business’s stock in a transaction on 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 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jessica M. Hiebler sold 484 shares of the firm’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $104.73, for a total transaction of $50,689.32. Following the completion of the sale, the insider now owns 13,939 shares of the company’s stock, valued at $1,459,831.47. The disclosure for this sale can be found here. In the last ninety days, insiders sold 13,854 shares of company stock worth $1,443,767. Company insiders own 2.00% of the company’s stock.

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.