Interval Partners LP Cuts Stake in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Interval Partners LP trimmed its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 51.0% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 22,409 shares of the asset manager’s stock after selling 23,370 shares during the period. Interval Partners LP’s holdings in T. Rowe Price Group were worth $2,584,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Lynx Investment Advisory purchased a new position in T. Rowe Price Group during the 2nd quarter worth $29,000. Family Firm Inc. acquired a new position in T. Rowe Price Group during the second quarter worth $36,000. Versant Capital Management Inc raised its holdings in T. Rowe Price Group by 660.5% in the 2nd quarter. Versant Capital Management Inc now owns 327 shares of the asset manager’s stock valued at $38,000 after buying an additional 284 shares during the period. EverSource Wealth Advisors LLC increased its holdings in T. Rowe Price Group by 93.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 331 shares of the asset manager’s stock worth $40,000 after purchasing 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 valued at $41,000 after purchasing an additional 206 shares during the last quarter. 73.39% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on TROW shares. Deutsche Bank Aktiengesellschaft boosted their target price on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the company a “hold” rating in a research note on Thursday, August 15th. Wells Fargo & Company started coverage on 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. TD Cowen cut their target price on T. Rowe Price Group from $123.00 to $118.00 and set a “hold” rating on the stock in a research report on Monday, July 29th. StockNews.com downgraded T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Finally, Keefe, Bruyette & Woods reaffirmed 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 research analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. According to data from MarketBeat, T. Rowe Price Group presently has a consensus rating of “Hold” and a consensus price target of $113.30.

Insider Buying and Selling

In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the vice president now directly owns 123,624 shares in the company, valued at $12,712,255.92. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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 stock was sold at an average price of $102.83, for a total transaction of $1,230,772.27. Following the completion of the sale, the vice president now directly owns 123,624 shares in the company, valued at approximately $12,712,255.92. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jessica M. Hiebler sold 484 shares of the company’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 transaction, the insider now owns 13,939 shares in the company, valued at approximately $1,459,831.47. The disclosure for this sale can be found here. Insiders sold 13,854 shares of company stock valued at $1,443,767 over the last quarter. 2.00% of the stock is owned by company insiders.

T. Rowe Price Group Stock Down 0.2 %

TROW opened at $108.10 on Tuesday. The stock’s 50 day moving average price is $108.59 and its two-hundred day moving average price is $113.19. T. Rowe Price Group, Inc. has a 12-month low of $87.43 and a 12-month high of $122.27. The firm has a market capitalization of $24.14 billion, a P/E ratio of 12.84, a price-to-earnings-growth ratio of 1.69 and a beta of 1.41.

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 company 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 for the quarter was up 7.6% on a year-over-year basis. During the same quarter last year, the firm earned $2.02 EPS. As a group, analysts anticipate that T. Rowe Price Group, Inc. will post 9 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

The company also recently disclosed 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. This represents a $4.96 annualized dividend and a yield of 4.59%. The ex-dividend date of this dividend is Friday, September 13th. T. Rowe Price Group’s payout ratio is 58.91%.

T. Rowe Price Group Company 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.