T. Rowe Price Group, Inc. $TROW Shares Sold by Hazlett Burt & Watson Inc.

Hazlett Burt & Watson Inc. lessened its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 9.2% in the 2nd quarter, Holdings Channel reports. The firm owned 2,500 shares of the asset manager’s stock after selling 253 shares during the period. Hazlett Burt & Watson Inc.’s holdings in T. Rowe Price Group were worth $241,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in T. Rowe Price Group by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 26,286,393 shares of the asset manager’s stock valued at $2,414,931,000 after buying an additional 222,556 shares during the period. Charles Schwab Investment Management Inc. boosted its position in T. Rowe Price Group by 7.2% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 7,706,251 shares of the asset manager’s stock valued at $707,973,000 after buying an additional 519,075 shares during the period. Invesco Ltd. boosted its position in T. Rowe Price Group by 43.2% in the 1st quarter. Invesco Ltd. now owns 3,433,684 shares of the asset manager’s stock valued at $315,453,000 after buying an additional 1,035,865 shares during the period. American Century Companies Inc. boosted its position in T. Rowe Price Group by 4.9% in the 1st quarter. American Century Companies Inc. now owns 2,955,703 shares of the asset manager’s stock valued at $271,541,000 after buying an additional 138,515 shares during the period. Finally, Northern Trust Corp boosted its position in T. Rowe Price Group by 3.6% in the 1st quarter. Northern Trust Corp now owns 2,374,063 shares of the asset manager’s stock valued at $218,105,000 after buying an additional 83,324 shares during the period. Hedge funds and other institutional investors own 73.39% of the company’s stock.

T. Rowe Price Group Price Performance

Shares of TROW opened at $105.36 on Tuesday. T. Rowe Price Group, Inc. has a 1-year low of $77.85 and a 1-year high of $125.81. The stock has a market cap of $23.15 billion, a PE ratio of 11.77, a price-to-earnings-growth ratio of 6.51 and a beta of 1.50. The firm has a fifty day moving average price of $105.81 and a 200 day moving average price of $98.58.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings results on Friday, August 1st. The asset manager reported $2.24 earnings per share for the quarter, beating analysts’ consensus estimates of $2.15 by $0.09. T. Rowe Price Group had a net margin of 28.72% and a return on equity of 19.77%. The firm had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.72 billion. During the same period in the previous year, the company earned $2.26 earnings per share. T. Rowe Price Group’s quarterly revenue was down .6% compared to the same quarter last year. As a group, equities analysts expect that T. Rowe Price Group, Inc. will post 9.29 EPS for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Monday, September 15th were paid a $1.27 dividend. The ex-dividend date was Monday, September 15th. This represents a $5.08 dividend on an annualized basis and a yield of 4.8%. T. Rowe Price Group’s payout ratio is currently 56.76%.

Wall Street Analyst Weigh In

Several equities analysts have commented on TROW shares. Zacks Research cut shares of T. Rowe Price Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 8th. Keefe, Bruyette & Woods lifted their price objective on shares of T. Rowe Price Group from $112.00 to $115.00 and gave the stock a “market perform” rating in a research report on Monday. Jefferies Financial Group lifted their price objective on shares of T. Rowe Price Group from $104.00 to $106.00 and gave the stock a “hold” rating in a research report on Tuesday, October 7th. Evercore ISI lifted their price objective on shares of T. Rowe Price Group from $115.00 to $118.00 and gave the stock an “in-line” rating in a research report on Thursday, October 9th. Finally, TD Cowen lifted their price objective on shares of T. Rowe Price Group from $103.00 to $108.00 and gave the stock a “hold” rating in a research report on Wednesday, October 8th. One analyst has rated the stock with a Buy rating, eleven have issued a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Reduce” and an average price target of $106.38.

Insider Buying and Selling

In other T. Rowe Price Group news, Director Robert F. Maclellan sold 3,090 shares of T. Rowe Price Group stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $105.01, for a total value of $324,480.90. Following the transaction, the director directly owned 47,335 shares in the company, valued at approximately $4,970,648.35. The trade was 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 this hyperlink. Corporate insiders own 1.60% of the company’s stock.

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.