DoubleLine ETF Adviser LP Lowers Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

DoubleLine ETF Adviser LP decreased its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 2.9% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,698 shares of the asset manager’s stock after selling 112 shares during the quarter. DoubleLine ETF Adviser LP’s holdings in T. Rowe Price Group were worth $426,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Lynx Investment Advisory purchased a new position in shares of T. Rowe Price Group during the second quarter valued at about $29,000. Family Firm Inc. purchased a new position in T. Rowe Price Group during the 2nd quarter valued at approximately $36,000. Versant Capital Management Inc increased its stake 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 worth $38,000 after acquiring an additional 284 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of 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 acquiring an additional 160 shares in the last quarter. Finally, Riverview Trust Co boosted its position in shares of T. Rowe Price Group by 136.4% during the 2nd quarter. Riverview Trust Co now owns 357 shares of the asset manager’s stock valued at $41,000 after acquiring an additional 206 shares during the last quarter. 73.39% of the stock is owned by hedge funds and other institutional investors.

T. Rowe Price Group Trading Up 1.8 %

Shares of TROW opened at $109.38 on Friday. The firm has a market capitalization of $24.35 billion, a P/E ratio of 12.99, a P/E/G ratio of 1.75 and a beta of 1.41. 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 fifty day moving average price of $108.15 and a 200-day moving average price of $113.09.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings results 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). 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 the consensus estimate of $1.79 billion. During the same period in the prior year, the firm posted $2.02 EPS. The business’s revenue was up 7.6% on a year-over-year basis. Analysts predict that T. Rowe Price Group, Inc. will post 8.96 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be issued a $1.24 dividend. This represents a $4.96 annualized dividend and a dividend yield of 4.53%. The ex-dividend date is Friday, September 13th. T. Rowe Price Group’s dividend payout ratio is 58.91%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on TROW shares. Barclays began coverage on shares of T. Rowe Price Group in a research report on Tuesday, August 27th. They issued an “underweight” rating and a $99.00 price target on the stock. Wells Fargo & Company started 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 on the stock. Deutsche Bank Aktiengesellschaft increased their price target on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the company a “hold” rating in a report on Thursday, August 15th. Evercore ISI reduced their price objective on T. Rowe Price Group from $115.00 to $108.00 and set an “in-line” rating on the stock in a research note on Thursday, September 5th. Finally, StockNews.com lowered T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Three investment analysts have rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. According to data from MarketBeat, T. Rowe Price Group has a consensus rating of “Hold” and an average target price of $113.30.

Insider Transactions at T. Rowe Price Group

In related news, insider Jessica M. Hiebler sold 484 shares of T. Rowe Price Group stock in a transaction dated Friday, September 13th. The stock was 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 directly owns 13,939 shares in the company, valued at $1,459,831.47. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 484 shares of the firm’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 of the company’s stock, valued at approximately $1,459,831.47. The transaction was disclosed in a legal 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 business’s stock in a transaction dated 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 sale, the vice president now owns 123,624 shares of the company’s stock, valued at approximately $12,712,255.92. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

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.