Gries Financial LLC Decreases Stock Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Gries Financial LLC lowered its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 0.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 18,012 shares of the asset manager’s stock after selling 127 shares during the quarter. Gries Financial LLC’s holdings in T. Rowe Price Group were worth $2,077,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in TROW. Lynx Investment Advisory purchased a new position in shares of T. Rowe Price Group in the 2nd quarter worth $29,000. First United Bank & Trust bought a new position in T. Rowe Price Group in the fourth quarter valued at about $31,000. Family Firm Inc. purchased a new position in shares of T. Rowe Price Group in the second quarter worth approximately $36,000. Versant Capital Management Inc increased its holdings in 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 buying an additional 284 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of T. Rowe Price Group by 93.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 331 shares of the asset manager’s stock worth $40,000 after acquiring an additional 160 shares during the last quarter. Institutional investors own 73.39% of the company’s stock.

T. Rowe Price Group Stock Down 0.1 %

TROW traded down $0.12 on Wednesday, hitting $104.36. The company had a trading volume of 228,934 shares, compared to its average volume of 1,270,323. The business’s fifty day simple moving average is $111.41 and its 200 day simple moving average is $113.87. T. Rowe Price Group, Inc. has a 12-month low of $87.43 and a 12-month high of $122.27. The company has a market cap of $23.23 billion, a PE ratio of 12.41, a PEG ratio of 1.69 and a beta of 1.41.

T. Rowe Price Group (NASDAQ:TROW) last announced its earnings results on Friday, July 26th. The asset manager reported $2.26 EPS 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 company had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.79 billion. During the same quarter last year, the firm posted $2.02 EPS. T. Rowe Price Group’s revenue for the quarter was up 7.6% compared to the same quarter last year. On average, analysts anticipate that T. Rowe Price Group, Inc. will post 9 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be paid a $1.24 dividend. This represents a $4.96 annualized dividend and a dividend yield of 4.75%. The ex-dividend date is Friday, September 13th. T. Rowe Price Group’s dividend payout ratio is currently 58.91%.

Analysts Set New Price Targets

A number of brokerages have commented on TROW. Deutsche Bank Aktiengesellschaft upped their price target on T. Rowe Price Group from $112.00 to $113.00 and gave the stock a “hold” rating in a research report on Thursday, August 15th. Barclays began 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. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $120.00 price objective (down previously from $121.00) on shares of T. Rowe Price Group in a research note on Monday, July 29th. JPMorgan Chase & Co. upped 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. Finally, StockNews.com cut shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Four investment analysts have rated the stock with a sell rating and seven have issued a hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $113.10.

Insider Transactions at T. Rowe Price Group

In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 1,401 shares of the firm’s stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $115.85, for a total value of $162,305.85. Following the completion of the sale, the insider now owns 14,198 shares of the company’s stock, valued at $1,644,838.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 1,401 shares of the company’s stock in a transaction 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 of the company’s stock, valued at approximately $1,644,838.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Dorothy C. Sawyer sold 2,000 shares of T. Rowe Price Group stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $117.00, for a total value of $234,000.00. Following the sale, the vice president now owns 34,710 shares of the company’s stock, valued at $4,061,070. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.

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.