T. Rowe Price Group, Inc. $TROW Shares Sold by Barton Investment Management

Barton Investment Management lowered its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 4.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,440 shares of the asset manager’s stock after selling 730 shares during the period. T. Rowe Price Group makes up approximately 0.2% of Barton Investment Management’s portfolio, making the stock its 26th biggest holding. Barton Investment Management’s holdings in T. Rowe Price Group were worth $1,586,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of T. Rowe Price Group by 11.7% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 238,779 shares of the asset manager’s stock valued at $23,042,000 after buying an additional 25,010 shares in the last quarter. TFG Advisers LLC boosted its stake in shares of T. Rowe Price Group by 3.6% in the second quarter. TFG Advisers LLC now owns 2,779 shares of the asset manager’s stock valued at $268,000 after buying an additional 97 shares in the last quarter. Bartlett & CO. Wealth Management LLC boosted its stake in shares of T. Rowe Price Group by 12.1% in the second quarter. Bartlett & CO. Wealth Management LLC now owns 2,212 shares of the asset manager’s stock valued at $213,000 after buying an additional 238 shares in the last quarter. Lynx Investment Advisory boosted its stake in shares of T. Rowe Price Group by 3.2% in the second quarter. Lynx Investment Advisory now owns 5,392 shares of the asset manager’s stock valued at $520,000 after buying an additional 166 shares in the last quarter. Finally, PFG Investments LLC purchased a new stake in shares of T. Rowe Price Group in the second quarter valued at approximately $207,000. Institutional investors and hedge funds own 73.39% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on TROW shares. Wells Fargo & Company lifted their price target on T. Rowe Price Group from $98.00 to $108.00 and gave the company an “equal weight” rating in a research note on Friday, July 11th. JPMorgan Chase & Co. boosted their target price on T. Rowe Price Group from $98.00 to $102.00 and gave the stock an “underweight” rating in a research report on Monday, August 4th. Barclays reiterated an “underweight” rating and set a $95.00 target price (up from $91.00) on shares of T. Rowe Price Group in a research report on Monday, August 4th. Evercore ISI reiterated a “positive” rating on shares of T. Rowe Price Group in a research report on Friday, September 5th. Finally, Bank of America boosted their target price on T. Rowe Price Group from $91.00 to $97.00 and gave the stock an “underperform” rating in a research report on Thursday. One equities research analyst has rated the stock with a Buy rating, eight have issued a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average price target of $102.64.

Insider Buying and Selling

In related news, Director Robert F. Maclellan sold 3,090 shares of the company’s stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $105.01, for a total value of $324,480.90. Following the completion of the transaction, the director directly owned 47,335 shares in the company, valued at approximately $4,970,648.35. This represents a 6.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 2.00% of the company’s stock.

T. Rowe Price Group Stock Up 0.6%

Shares of NASDAQ:TROW opened at $101.71 on Friday. T. Rowe Price Group, Inc. has a 52-week low of $77.85 and a 52-week high of $125.81. The stock’s fifty day simple moving average is $105.78 and its 200-day simple moving average is $98.00. The company has a market capitalization of $22.35 billion, a P/E ratio of 11.36, a P/E/G ratio of 2.62 and a beta of 1.50.

T. Rowe Price Group (NASDAQ:TROW) last released its earnings results on Friday, August 1st. The asset manager reported $2.24 EPS for the quarter, beating the consensus estimate of $2.15 by $0.09. The firm had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.72 billion. T. Rowe Price Group had a return on equity of 19.77% and a net margin of 28.72%.The business’s quarterly revenue was down .6% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.26 earnings per share. On average, sell-side analysts anticipate that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Monday, September 15th were paid a $1.27 dividend. This represents a $5.08 annualized dividend and a yield of 5.0%. The ex-dividend date was Monday, September 15th. T. Rowe Price Group’s dividend payout ratio is presently 56.76%.

About T. Rowe Price Group

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.