Matrix Trust Co Sells 197 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Matrix Trust Co reduced its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 1.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,748 shares of the asset manager’s stock after selling 197 shares during the period. Matrix Trust Co’s holdings in T. Rowe Price Group were worth $1,498,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of TROW. Unison Advisors LLC lifted its position in T. Rowe Price Group by 1.1% during the third quarter. Unison Advisors LLC now owns 16,909 shares of the asset manager’s stock worth $1,842,000 after acquiring an additional 180 shares during the last quarter. Hexagon Capital Partners LLC grew its holdings in T. Rowe Price Group by 54.7% in the 3rd quarter. Hexagon Capital Partners LLC now owns 294 shares of the asset manager’s stock valued at $32,000 after buying an additional 104 shares in the last quarter. Barlow Wealth Partners Inc. lifted its holdings in shares of T. Rowe Price Group by 1.7% during the third quarter. Barlow Wealth Partners Inc. now owns 58,212 shares of the asset manager’s stock worth $6,207,000 after buying an additional 971 shares in the last quarter. Hoxton Planning & Management LLC bought a new stake in shares of T. Rowe Price Group in the third quarter valued at about $243,000. Finally, Brookstone Capital Management grew its stake in shares of T. Rowe Price Group by 3.9% in the third quarter. Brookstone Capital Management now owns 86,089 shares of the asset manager’s stock valued at $9,378,000 after acquiring an additional 3,208 shares in the last quarter. 73.39% of the stock is owned by institutional investors.

T. Rowe Price Group Price Performance

Shares of NASDAQ TROW traded up $0.23 during mid-day trading on Thursday, hitting $107.65. 329,966 shares of the stock traded hands, compared to its average volume of 1,249,504. The company has a market cap of $24.04 billion, a PE ratio of 12.76, a price-to-earnings-growth ratio of 1.81 and a beta of 1.41. T. Rowe Price Group, Inc. has a twelve month low of $87.43 and a twelve month high of $122.27. The firm has a 50 day simple moving average of $106.78 and a two-hundred day simple moving average of $112.45.

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 (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 analyst estimates of $1.79 billion. T. Rowe Price Group had a net margin of 28.66% and a return on equity of 19.90%. T. Rowe Price Group’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same period last year, the firm posted $2.02 earnings per share. On average, equities research analysts anticipate that T. Rowe Price Group, Inc. will post 8.97 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were paid a $1.24 dividend. The ex-dividend date was Friday, September 13th. This represents a $4.96 annualized dividend and a dividend yield of 4.61%. T. Rowe Price Group’s dividend payout ratio is presently 58.91%.

Analysts Set New Price Targets

Several analysts have weighed in on TROW shares. Wells Fargo & Company boosted their price objective on shares of T. Rowe Price Group from $109.00 to $112.00 and gave the company an “equal weight” rating in a report on Wednesday. Barclays initiated coverage on T. Rowe Price Group in a research note on Tuesday, August 27th. They issued an “underweight” rating and a $99.00 price target for the company. The Goldman Sachs Group lowered their price objective on T. Rowe Price Group from $106.00 to $102.00 and set a “sell” rating on the stock in a research note on Thursday, October 3rd. JPMorgan Chase & Co. upped their target price on T. Rowe Price Group from $102.00 to $107.00 and gave the company an “underweight” rating in a research report on Tuesday, July 23rd. Finally, Evercore ISI raised their price target on T. Rowe Price Group from $108.00 to $109.00 and gave the stock an “in-line” rating in a research report on Friday, October 4th. Four investment analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. According to data from MarketBeat, T. Rowe Price Group has a consensus rating of “Hold” and an average target price of $112.64.

Insider Buying and Selling

In related news, insider Jessica M. Hiebler sold 484 shares of the business’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 directly owns 13,939 shares in the company, valued at approximately $1,459,831.47. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other 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 transaction of $50,689.32. Following the completion of the transaction, the insider now owns 13,939 shares in the company, valued at approximately $1,459,831.47. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of T. Rowe Price Group 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 owns 123,624 shares of the company’s stock, valued at $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. 2.00% of the stock is owned by company insiders.

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.