Poehling Capital Management INC. Has $1.59 Million Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Poehling Capital Management INC. lessened its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 3.8% in the second quarter, according to its most recent filing with the SEC. The firm owned 13,795 shares of the asset manager’s stock after selling 538 shares during the period. Poehling Capital Management INC.’s holdings in T. Rowe Price Group were worth $1,591,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in TROW. Confluence Investment Management LLC bought a new stake in T. Rowe Price Group in the first quarter valued at about $130,386,000. UBS Group AG grew its position in shares of T. Rowe Price Group by 473.3% during the 4th quarter. UBS Group AG now owns 975,226 shares of the asset manager’s stock worth $105,022,000 after buying an additional 805,106 shares during the period. Norges Bank bought a new stake in shares of T. Rowe Price Group in the 4th quarter valued at about $80,831,000. Hsbc Holdings PLC raised its position in shares of T. Rowe Price Group by 66.8% in the 4th quarter. Hsbc Holdings PLC now owns 765,080 shares of the asset manager’s stock valued at $82,434,000 after acquiring an additional 306,524 shares during the period. Finally, Los Angeles Capital Management LLC boosted its stake in T. Rowe Price Group by 492.3% during the 1st quarter. Los Angeles Capital Management LLC now owns 319,887 shares of the asset manager’s stock worth $39,001,000 after acquiring an additional 265,881 shares during the last quarter. Institutional investors own 73.39% of the company’s stock.

T. Rowe Price Group Stock Up 0.9 %

Shares of TROW stock opened at $104.56 on Friday. The firm has a market cap of $23.28 billion, a PE ratio of 12.42, a P/E/G ratio of 1.67 and a beta of 1.41. T. Rowe Price Group, Inc. has a 12 month low of $87.43 and a 12 month high of $122.27. The company’s fifty day simple moving average is $109.60 and its 200-day simple moving average is $113.50.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings data on Friday, July 26th. The asset manager reported $2.26 EPS for the quarter, missing analysts’ consensus estimates of $2.27 by ($0.01). The business had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.79 billion. T. Rowe Price Group had a return on equity of 19.90% and a net margin of 28.66%. The company’s quarterly revenue was up 7.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.02 earnings per share. On average, equities analysts predict that T. Rowe Price Group, Inc. will post 9 earnings per share for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be issued a dividend of $1.24 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $4.96 dividend on an annualized basis and a yield of 4.74%. T. Rowe Price Group’s payout ratio is 58.91%.

Insiders Place Their Bets

In other news, insider Jessica M. Hiebler sold 1,401 shares of the business’s stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $115.85, for a total transaction of $162,305.85. Following the transaction, the insider now directly owns 14,198 shares in the company, valued at approximately $1,644,838.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Jessica M. Hiebler sold 1,401 shares of T. Rowe Price Group stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $115.85, for a total transaction of $162,305.85. Following the completion of the transaction, the insider now owns 14,198 shares in the company, valued at $1,644,838.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Dorothy C. Sawyer sold 2,000 shares of the business’s stock in a transaction that occurred 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 transaction, the vice president now directly owns 34,710 shares in the company, valued at approximately $4,061,070. The disclosure for this sale can be found here. Over the last three months, insiders have sold 15,370 shares of company stock valued at $1,627,078. 2.00% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Deutsche Bank Aktiengesellschaft upped their target price on shares of 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. JPMorgan Chase & Co. raised their price objective 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. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $120.00 target price (down from $121.00) on shares of T. Rowe Price Group in a report on Monday, July 29th. StockNews.com cut T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Finally, Evercore ISI cut their price target on shares of T. Rowe Price Group from $115.00 to $108.00 and set an “in-line” rating on the stock in a research note on Thursday, September 5th. Three investment analysts have rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $113.30.

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.