Amalgamated Bank Sells 918 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Amalgamated Bank decreased its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 2.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,113 shares of the asset manager’s stock after selling 918 shares during the quarter. Amalgamated Bank’s holdings in T. Rowe Price Group were worth $5,202,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in TROW. Lynx Investment Advisory bought a new stake in shares of T. Rowe Price Group during the second quarter valued at approximately $29,000. Family Firm Inc. purchased a new position in T. Rowe Price Group during the 2nd quarter worth $36,000. Versant Capital Management Inc raised its position in T. Rowe Price Group by 660.5% during the 2nd 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 in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of T. Rowe Price Group by 93.6% in the 1st quarter. EverSource Wealth Advisors LLC now owns 331 shares of the asset manager’s stock worth $40,000 after buying an additional 160 shares during the period. Finally, Riverview Trust Co lifted its holdings in shares of T. Rowe Price Group by 136.4% in the 2nd 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 period. 73.39% of the stock is owned by hedge funds and other institutional investors.

T. Rowe Price Group Stock Down 2.0 %

Shares of NASDAQ TROW opened at $108.29 on Friday. T. Rowe Price Group, Inc. has a 52 week low of $87.43 and a 52 week high of $122.27. The business’s 50 day moving average price is $108.80 and its 200 day moving average price is $113.30. The firm has a market cap of $24.11 billion, a P/E ratio of 12.86, a P/E/G ratio of 1.69 and a beta of 1.41.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings data on Friday, July 26th. The asset manager reported $2.26 EPS 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 analysts’ expectations of $1.79 billion. T. Rowe Price Group had a net margin of 28.66% and a return on equity of 19.90%. The firm’s revenue was up 7.6% on a year-over-year basis. During the same period last year, the company earned $2.02 earnings per share. As a group, research analysts expect that T. Rowe Price Group, Inc. will post 9 earnings per share for the current year.

T. Rowe Price Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be given a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a yield of 4.58%. The ex-dividend date of this dividend is Friday, September 13th. T. Rowe Price Group’s dividend payout ratio is currently 58.91%.

Insider Buying and Selling at T. Rowe Price Group

In related news, insider Jessica M. Hiebler sold 1,401 shares of the business’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 transaction, the insider now directly owns 14,198 shares in the company, valued at approximately $1,644,838.30. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, 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 in the company, valued at approximately $1,644,838.30. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Jessica M. Hiebler sold 484 shares of the business’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 owns 13,939 shares of the company’s stock, valued at $1,459,831.47. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 13,854 shares of company stock valued at $1,443,767. 2.00% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several analysts recently weighed in on TROW shares. StockNews.com downgraded T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Wells Fargo & Company initiated 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 price target for the company. JPMorgan Chase & Co. upped their price target on shares of T. Rowe Price Group from $102.00 to $107.00 and gave the stock an “underweight” rating in a research report on Tuesday, July 23rd. TD Cowen cut their price objective on shares of T. Rowe Price Group from $123.00 to $118.00 and set a “hold” rating on the stock in a report on Monday, July 29th. Finally, Keefe, Bruyette & Woods restated a “market perform” rating and set a $120.00 target price (down previously from $121.00) on shares of T. Rowe Price Group 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. Based on data from MarketBeat, T. Rowe Price Group currently has an average rating of “Hold” and a consensus 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.