Argent Trust Co Sells 190 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Argent Trust Co lowered its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 1.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 15,145 shares of the asset manager’s stock after selling 190 shares during the quarter. Argent Trust Co’s holdings in T. Rowe Price Group were worth $1,746,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in TROW. Confluence Investment Management LLC acquired a new stake in shares of T. Rowe Price Group in the first quarter valued at about $130,386,000. UBS Group AG boosted its stake in shares of T. Rowe Price Group by 473.3% in the 4th quarter. UBS Group AG now owns 975,226 shares of the asset manager’s stock valued at $105,022,000 after purchasing an additional 805,106 shares during the last quarter. Norges Bank bought a new position in T. Rowe Price Group during the fourth quarter worth $80,831,000. Hsbc Holdings PLC raised its stake in T. Rowe Price Group by 66.8% during the fourth quarter. Hsbc Holdings PLC now owns 765,080 shares of the asset manager’s stock worth $82,434,000 after buying an additional 306,524 shares during the last quarter. Finally, Los Angeles Capital Management LLC lifted its holdings in T. Rowe Price Group by 492.3% in the first quarter. Los Angeles Capital Management LLC now owns 319,887 shares of the asset manager’s stock valued at $39,001,000 after buying an additional 265,881 shares during the period. Institutional investors and hedge funds own 73.39% of the company’s stock.

Insider Buying and Selling at T. Rowe Price Group

In related news, insider Jessica M. Hiebler sold 1,401 shares of the company’s stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $115.85, for a total value of $162,305.85. Following the transaction, the insider now owns 14,198 shares in the company, valued at $1,644,838.30. The transaction was disclosed in a document filed with the SEC, which is available 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 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 in the company, valued at $12,712,255.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jessica M. Hiebler sold 1,401 shares of the business’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 transaction of $162,305.85. Following the completion of the sale, 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 have sold a total of 13,854 shares of company stock worth $1,443,767 over the last three months. 2.00% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. TD Cowen dropped their price objective on T. Rowe Price Group from $123.00 to $118.00 and set a “hold” rating on the stock in a research note on Monday, July 29th. StockNews.com downgraded shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Wells Fargo & Company began 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 price target for the company. Barclays assumed coverage on shares of T. Rowe Price Group in a research report on Tuesday, August 27th. They set an “underweight” rating and a $99.00 price objective on the stock. Finally, JPMorgan Chase & Co. boosted their price objective on T. Rowe Price Group from $102.00 to $107.00 and gave the company an “underweight” rating in a report on Tuesday, July 23rd. Three equities research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. According to MarketBeat.com, T. Rowe Price Group currently has a consensus rating of “Hold” and a consensus price target of $113.30.

T. Rowe Price Group Price Performance

TROW opened at $108.13 on Thursday. The firm’s fifty day moving average price is $109.13 and its two-hundred day moving average price is $113.38. The company has a market capitalization of $24.07 billion, a price-to-earnings ratio of 12.84, a P/E/G ratio of 1.69 and a beta of 1.41. T. Rowe Price Group, Inc. has a 1 year low of $87.43 and a 1 year high of $122.27.

T. Rowe Price Group (NASDAQ:TROW) last posted its earnings results on Friday, July 26th. The asset manager reported $2.26 EPS for the quarter, missing the consensus estimate 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%. T. Rowe Price Group’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same period in the prior year, the business earned $2.02 EPS. As a group, equities analysts anticipate that T. Rowe Price Group, Inc. will post 9 EPS for the current year.

T. Rowe Price Group Dividend Announcement

The business 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 $1.24 dividend. 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 dividend payout ratio is 58.91%.

About T. Rowe Price Group

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.