Mutual of America Capital Management LLC Sells 1,194 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Mutual of America Capital Management LLC reduced its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 4.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,161 shares of the asset manager’s stock after selling 1,194 shares during the period. Mutual of America Capital Management LLC’s holdings in T. Rowe Price Group were worth $3,247,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Lynx Investment Advisory acquired a new position in shares of T. Rowe Price Group during the 2nd quarter worth about $29,000. Family Firm Inc. bought a new position in shares of T. Rowe Price Group during the 2nd quarter worth about $36,000. Versant Capital Management Inc increased its stake in T. Rowe Price Group by 660.5% in the second quarter. Versant Capital Management Inc now owns 327 shares of the asset manager’s stock valued at $38,000 after acquiring an additional 284 shares during the period. EverSource Wealth Advisors LLC raised its position in T. Rowe Price Group by 93.6% in the first quarter. EverSource Wealth Advisors LLC now owns 331 shares of the asset manager’s stock worth $40,000 after purchasing an additional 160 shares in the last quarter. Finally, Riverview Trust Co lifted its stake in T. Rowe Price Group by 136.4% during the second quarter. Riverview Trust Co now owns 357 shares of the asset manager’s stock worth $41,000 after purchasing an additional 206 shares during the period. 73.39% of the stock is owned by institutional investors.

Analyst Ratings Changes

TROW has been the subject of a number of recent research reports. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $120.00 target price (down from $121.00) on shares of T. Rowe Price Group in a report on Monday, July 29th. Barclays initiated coverage on shares of T. Rowe Price Group in a research note on Tuesday, August 27th. They issued an “underweight” rating and a $99.00 target price on the stock. StockNews.com cut shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. TD Cowen reduced their price target on shares of 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. Finally, 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 report on Thursday, September 5th. Three analysts have rated the stock with a sell rating and eight have given a hold rating to the company’s stock. Based on data from MarketBeat, T. Rowe Price Group 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, insider Jessica M. Hiebler sold 1,401 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider now directly owns 14,198 shares of the company’s stock, valued at $1,644,838.30. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the stock in a transaction that occurred on 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 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jessica M. Hiebler sold 1,401 shares of T. Rowe Price Group stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $115.85, for a total transaction of $162,305.85. Following the transaction, the insider now directly owns 14,198 shares in the company, valued at approximately $1,644,838.30. The disclosure for this sale can be found here. Insiders sold a total of 13,854 shares of company stock valued at $1,443,767 over the last ninety days. Insiders own 2.00% of the company’s stock.

T. Rowe Price Group Price Performance

Shares of T. Rowe Price Group stock opened at $108.10 on Tuesday. The firm has a 50 day simple moving average of $108.59 and a 200 day simple moving average of $113.19. T. Rowe Price Group, Inc. has a fifty-two week low of $87.43 and a fifty-two week high of $122.27. The firm has a market cap of $24.14 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 released its earnings results on Friday, July 26th. The asset manager reported $2.26 earnings per share for the quarter, missing analysts’ consensus estimates of $2.27 by ($0.01). The firm had revenue of $1.73 billion for 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 company’s revenue was up 7.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.02 EPS. On average, sell-side analysts expect that T. Rowe Price Group, Inc. will post 9 EPS for the current year.

T. Rowe Price Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders 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 dividend yield of 4.59%. The ex-dividend date is Friday, September 13th. T. Rowe Price Group’s dividend payout ratio is 58.91%.

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.