T. Rowe Price Group, Inc. (NASDAQ:TROW) Shares Sold by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC decreased its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROWGet Rating) by 36.6% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 115,884 shares of the asset manager’s stock after selling 67,017 shares during the quarter. Los Angeles Capital Management LLC owned approximately 0.05% of T. Rowe Price Group worth $17,521,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of TROW. Papp L Roy & Associates raised its position in shares of T. Rowe Price Group by 5.6% in the 1st quarter. Papp L Roy & Associates now owns 86,640 shares of the asset manager’s stock valued at $13,099,000 after purchasing an additional 4,584 shares in the last quarter. Delta Financial Advisors LLC boosted its stake in T. Rowe Price Group by 5.1% during the 1st quarter. Delta Financial Advisors LLC now owns 8,783 shares of the asset manager’s stock valued at $1,328,000 after acquiring an additional 425 shares during the last quarter. Balentine LLC grew its holdings in T. Rowe Price Group by 156.3% during the 1st quarter. Balentine LLC now owns 5,170 shares of the asset manager’s stock worth $782,000 after acquiring an additional 3,153 shares in the last quarter. GHE LLC acquired a new position in T. Rowe Price Group during the 1st quarter worth $2,244,000. Finally, Hendershot Investments Inc. raised its stake in shares of T. Rowe Price Group by 26.4% in the 1st quarter. Hendershot Investments Inc. now owns 51,725 shares of the asset manager’s stock valued at $7,820,000 after purchasing an additional 10,810 shares in the last quarter. Hedge funds and other institutional investors own 71.80% of the company’s stock.

T. Rowe Price Group Trading Down 0.1 %

TROW opened at $125.04 on Friday. The business’s 50 day moving average is $118.03 and its 200-day moving average is $133.06. The stock has a market cap of $28.22 billion, a PE ratio of 12.07, a price-to-earnings-growth ratio of 2.59 and a beta of 1.30. T. Rowe Price Group, Inc. has a twelve month low of $104.72 and a twelve month high of $224.55.

T. Rowe Price Group (NASDAQ:TROWGet Rating) last announced its earnings results on Thursday, July 28th. The asset manager reported $1.79 earnings per share for the quarter, missing the consensus estimate of $2.64 by ($0.85). The business had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.68 billion. T. Rowe Price Group had a net margin of 33.26% and a return on equity of 28.18%. The firm’s revenue was down 20.4% on a year-over-year basis. During the same period in the previous year, the firm earned $3.31 EPS. As a group, analysts forecast that T. Rowe Price Group, Inc. will post 8.27 EPS for the current year.

T. Rowe Price Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 29th. Investors of record on Thursday, September 15th will be given a $1.20 dividend. The ex-dividend date is Wednesday, September 14th. This represents a $4.80 dividend on an annualized basis and a yield of 3.84%. T. Rowe Price Group’s dividend payout ratio is presently 46.33%.

Insiders Place Their Bets

In other news, insider Jessica M. Hiebler sold 959 shares of the stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of $124.57, for a total value of $119,462.63. Following the completion of the transaction, the insider now directly owns 12,183 shares in the company, valued at $1,517,636.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 11,891 shares of the business’s stock in a transaction dated Thursday, August 4th. The shares were sold at an average price of $126.91, for a total value of $1,509,086.81. Following the sale, the vice president now directly owns 136,410 shares in the company, valued at $17,311,793.10. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jessica M. Hiebler sold 959 shares of the firm’s stock in a transaction dated Tuesday, August 2nd. The shares were sold at an average price of $124.57, for a total transaction of $119,462.63. Following the transaction, the insider now owns 12,183 shares of the company’s stock, valued at approximately $1,517,636.31. The disclosure for this sale can be found here. 1.00% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. JPMorgan Chase & Co. decreased their price target on T. Rowe Price Group from $117.00 to $94.00 and set an “underweight” rating for the company in a research note on Monday, July 18th. Deutsche Bank Aktiengesellschaft dropped their price target on T. Rowe Price Group from $126.00 to $118.00 and set a “hold” rating on the stock in a research report on Wednesday, July 13th. Morgan Stanley decreased their price objective on shares of T. Rowe Price Group from $124.00 to $123.00 and set an “equal weight” rating for the company in a report on Friday, July 29th. BMO Capital Markets dropped their target price on shares of T. Rowe Price Group from $135.00 to $115.00 in a report on Monday, August 1st. Finally, TheStreet lowered shares of T. Rowe Price Group from a “b-” rating to a “c” rating in a report on Wednesday, July 13th. Five analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $130.30.

T. Rowe Price Group Company Profile

(Get Rating)

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.

Further Reading

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Institutional Ownership by Quarter for T. Rowe Price Group (NASDAQ:TROW)

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