Global Retirement Partners LLC Cuts Stock Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Global Retirement Partners LLC decreased its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 8.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,811 shares of the asset manager’s stock after selling 432 shares during the period. Global Retirement Partners LLC’s holdings in T. Rowe Price Group were worth $524,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Lynx Investment Advisory acquired a new stake in shares of T. Rowe Price Group in the second quarter valued at about $29,000. Hexagon Capital Partners LLC boosted 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 worth $32,000 after buying an additional 104 shares during the last quarter. Family Firm Inc. purchased a new stake in T. Rowe Price Group during the 2nd quarter worth approximately $36,000. Versant Capital Management Inc raised its holdings in shares of T. Rowe Price Group by 660.5% during 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 last quarter. Finally, EverSource Wealth Advisors LLC lifted its position in shares of 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 valued at $40,000 after acquiring an additional 160 shares in the last quarter. Hedge funds and other institutional investors own 73.39% of the company’s stock.

Insider Buying and Selling

In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 484 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $104.73, for a total value of $50,689.32. Following the completion of the transaction, the insider now owns 13,939 shares of the company’s stock, valued at $1,459,831.47. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $102.83, for a total transaction of $1,230,772.27. Following the transaction, the vice president now owns 123,624 shares of the company’s stock, valued at $12,712,255.92. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Jessica M. Hiebler sold 484 shares of the business’s stock in a transaction dated Friday, September 13th. The stock was 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 in the company, valued at approximately $1,459,831.47. This trade 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 corporate insiders.

T. Rowe Price Group Stock Performance

Shares of T. Rowe Price Group stock opened at $115.63 on Monday. The stock has a 50 day moving average of $107.54 and a 200 day moving average of $111.96. The firm has a market capitalization of $25.74 billion, a price-to-earnings ratio of 13.65, a PEG ratio of 1.93 and a beta of 1.41. T. Rowe Price Group, Inc. has a fifty-two week low of $87.43 and a fifty-two week high of $122.27.

T. Rowe Price Group (NASDAQ:TROW) last released 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 return on equity of 19.90% and a net margin of 28.66%. The business had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.79 billion. During the same quarter in the prior year, the company posted $2.02 earnings per share. The business’s revenue for the quarter was up 7.6% compared to the same quarter last year. Analysts forecast that T. Rowe Price Group, Inc. will post 9.08 EPS for the current year.

T. Rowe Price Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were given a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a yield of 4.29%. The ex-dividend date was Friday, September 13th. T. Rowe Price Group’s payout ratio is 58.56%.

Analyst Ratings Changes

Several research analysts recently commented on the company. Deutsche Bank Aktiengesellschaft increased their price objective on T. Rowe Price Group from $112.00 to $113.00 and gave the company a “hold” rating in a research note on Thursday, August 15th. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $120.00 target price (down from $121.00) on shares of T. Rowe Price Group in a research report on Monday, July 29th. Morgan Stanley boosted their price target on shares of T. Rowe Price Group from $125.00 to $127.00 and gave the stock an “equal weight” rating in a research report on Friday. Barclays increased their price objective on shares of T. Rowe Price Group from $99.00 to $101.00 and gave the company an “underweight” rating in a report on Monday, October 14th. Finally, Evercore ISI boosted their target price on T. Rowe Price Group from $108.00 to $109.00 and gave the stock an “in-line” rating in a report on Friday, October 4th. Four investment analysts have rated the stock with a sell rating and eight have given a hold rating to the company. According to MarketBeat, T. Rowe Price Group presently has an average rating of “Hold” and an average price target of $113.00.

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.