T. Rowe Price Group, Inc. (NASDAQ:TROW) Shares Sold by Partnership Wealth Management LLC

Partnership Wealth Management LLC cut its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 16.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,457 shares of the asset manager’s stock after selling 2,089 shares during the quarter. T. Rowe Price Group comprises 0.8% of Partnership Wealth Management LLC’s portfolio, making the stock its 25th biggest position. Partnership Wealth Management LLC’s holdings in T. Rowe Price Group were worth $1,139,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of TROW. Lynx Investment Advisory purchased a new position in shares of T. Rowe Price Group in the 2nd quarter valued at $29,000. Family Firm Inc. purchased a new position in T. Rowe Price Group in the second quarter valued at about $36,000. Versant Capital Management Inc raised its position 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 purchasing an additional 284 shares during the period. EverSource Wealth Advisors LLC lifted its stake in shares of T. Rowe Price Group by 93.6% during 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 boosted its position in shares of T. Rowe Price Group by 136.4% in the second 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 currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Jessica M. Hiebler sold 484 shares of the 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 sale, the insider now owns 13,939 shares in the company, valued at $1,459,831.47. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 484 shares of the stock in a transaction on Friday, September 13th. The stock was sold at an average price of $104.73, for a total value of $50,689.32. Following the sale, the insider now directly owns 13,939 shares of the company’s stock, valued at $1,459,831.47. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of T. Rowe Price Group 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 in the company, valued at approximately $12,712,255.92. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.

T. Rowe Price Group Stock Down 0.0 %

Shares of T. Rowe Price Group stock opened at $106.60 on Wednesday. The business has a 50-day moving average price of $106.92 and a 200 day moving average price of $112.49. 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 $23.73 billion, a P/E ratio of 12.66, a P/E/G ratio of 1.81 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 for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.79 billion. During the same quarter last year, the firm posted $2.02 earnings per share. T. Rowe Price Group’s revenue was up 7.6% compared to the same quarter last year. As a group, equities research analysts anticipate that T. Rowe Price Group, Inc. will post 8.97 earnings per share for the current year.

T. Rowe Price Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were given a $1.24 dividend. The ex-dividend date was Friday, September 13th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 4.65%. T. Rowe Price Group’s payout ratio is currently 58.91%.

Wall Street Analysts Forecast Growth

TROW has been the topic of a number of recent research reports. TD Cowen reduced 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 report on Monday, July 29th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $120.00 price target (down previously from $121.00) on shares of T. Rowe Price Group in a research note on Monday, July 29th. Evercore ISI upped their price objective on shares of T. Rowe Price Group from $108.00 to $109.00 and gave the company an “in-line” rating in a research report on Friday, October 4th. Barclays began coverage on T. Rowe Price Group in a research note on Tuesday, August 27th. They set an “underweight” rating and a $99.00 target price for the company. Finally, JPMorgan Chase & Co. boosted their price target 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. Four 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.com, the stock presently has a consensus rating of “Hold” and an average price target of $112.36.

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.