Valley Wealth Managers Inc. Sells 1,595 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Valley Wealth Managers Inc. lowered its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 6.9% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 21,552 shares of the asset manager’s stock after selling 1,595 shares during the quarter. Valley Wealth Managers Inc.’s holdings in T. Rowe Price Group were worth $2,485,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the business. Meeder Advisory Services Inc. raised its position in shares of T. Rowe Price Group by 28.0% in the 2nd quarter. Meeder Advisory Services Inc. now owns 3,106 shares of the asset manager’s stock worth $358,000 after acquiring an additional 680 shares in the last quarter. DekaBank Deutsche Girozentrale grew its stake in T. Rowe Price Group by 18.9% in the second quarter. DekaBank Deutsche Girozentrale now owns 119,032 shares of the asset manager’s stock valued at $13,697,000 after purchasing an additional 18,949 shares during the last quarter. Meeder Asset Management Inc. raised its holdings in T. Rowe Price Group by 2,774.2% in the second quarter. Meeder Asset Management Inc. now owns 2,558 shares of the asset manager’s stock worth $295,000 after purchasing an additional 2,469 shares in the last quarter. Oppenheimer & Co. Inc. lifted its position in shares of T. Rowe Price Group by 4.1% during the second quarter. Oppenheimer & Co. Inc. now owns 68,158 shares of the asset manager’s stock valued at $7,859,000 after buying an additional 2,668 shares during the last quarter. Finally, Main Street Financial Solutions LLC boosted its holdings in shares of T. Rowe Price Group by 4.0% in the 2nd quarter. Main Street Financial Solutions LLC now owns 3,552 shares of the asset manager’s stock valued at $410,000 after buying an additional 137 shares in the last quarter. Hedge funds and other institutional investors own 73.39% of the company’s stock.

Insider Activity

In related news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the business’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $102.83, for a total value of $1,230,772.27. Following the completion of the sale, the vice president now owns 123,624 shares of the company’s stock, valued at approximately $12,712,255.92. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the vice president now directly owns 123,624 shares in the company, valued at approximately $12,712,255.92. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Jessica M. Hiebler sold 1,401 shares of the stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $115.85, for a total value of $162,305.85. Following the transaction, the insider now directly owns 14,198 shares of the company’s stock, valued at approximately $1,644,838.30. The disclosure for this sale can be found here. Insiders sold 15,370 shares of company stock worth $1,627,078 over the last three months. 2.00% of the stock is currently owned by corporate insiders.

T. Rowe Price Group Trading Up 0.7 %

T. Rowe Price Group stock opened at $104.87 on Friday. The stock’s 50 day simple moving average is $109.80 and its two-hundred day simple moving average is $113.52. T. Rowe Price Group, Inc. has a 12 month low of $87.43 and a 12 month high of $122.27. The firm has a market cap of $23.42 billion, a PE ratio of 12.45, a P/E/G ratio of 1.66 and a beta of 1.41.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings data 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 firm had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.79 billion. During the same quarter last year, the company posted $2.02 EPS. The company’s revenue was up 7.6% on a year-over-year basis. On average, equities research analysts forecast that T. Rowe Price Group, Inc. will post 9 EPS for the current year.

T. Rowe Price Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be issued a $1.24 dividend. This represents a $4.96 annualized dividend and a yield of 4.73%. The ex-dividend date of this dividend is Friday, September 13th. T. Rowe Price Group’s payout ratio is currently 58.91%.

Analyst Upgrades and Downgrades

TROW has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the stock a “hold” rating in a research note on Thursday, August 15th. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $120.00 price objective (down previously from $121.00) on shares of T. Rowe Price Group in a report on Monday, July 29th. Evercore ISI lowered their price objective on T. Rowe Price Group from $115.00 to $108.00 and set an “in-line” rating for the company in a research report on Thursday, September 5th. Barclays assumed 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. Finally, Wells Fargo & Company started coverage on T. Rowe Price Group in a research note on Thursday. They set an “equal weight” rating and a $109.00 price target on the stock. Three analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. According to MarketBeat, T. Rowe Price Group presently has an average rating of “Hold” and a consensus target price of $113.30.

T. Rowe Price Group Company 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.