Atria Wealth Solutions Inc. Sells 3,427 Shares of T. Rowe Price Group, Inc. $TROW

Atria Wealth Solutions Inc. trimmed its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 34.5% in the second quarter, HoldingsChannel reports. The institutional investor owned 6,493 shares of the asset manager’s stock after selling 3,427 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in T. Rowe Price Group were worth $629,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of TROW. GAMMA Investing LLC raised its stake in shares of T. Rowe Price Group by 5.1% during the first quarter. GAMMA Investing LLC now owns 3,627 shares of the asset manager’s stock worth $333,000 after buying an additional 176 shares during the last quarter. Exchange Traded Concepts LLC raised its stake in shares of T. Rowe Price Group by 27.9% during the first quarter. Exchange Traded Concepts LLC now owns 971 shares of the asset manager’s stock worth $89,000 after buying an additional 212 shares during the last quarter. QRG Capital Management Inc. raised its stake in shares of T. Rowe Price Group by 21.3% during the first quarter. QRG Capital Management Inc. now owns 14,186 shares of the asset manager’s stock worth $1,303,000 after buying an additional 2,491 shares during the last quarter. State of Alaska Department of Revenue raised its stake in shares of T. Rowe Price Group by 3.0% during the first quarter. State of Alaska Department of Revenue now owns 26,084 shares of the asset manager’s stock worth $2,396,000 after buying an additional 755 shares during the last quarter. Finally, Canton Hathaway LLC bought a new stake in shares of T. Rowe Price Group during the first quarter worth approximately $96,000. 73.39% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director Robert F. Maclellan sold 3,090 shares of the stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $105.01, for a total transaction of $324,480.90. Following the completion of the transaction, the director 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. BMO Capital Markets started coverage on shares of T. Rowe Price Group in a research note on Friday, October 3rd. They set a “market perform” rating and a $108.00 price target for the company. Morgan Stanley boosted their price objective on shares of T. Rowe Price Group from $116.00 to $125.00 and gave the company a “positive” rating in a report on Monday, October 6th. Wells Fargo & Company boosted their price objective on shares of T. Rowe Price Group from $98.00 to $108.00 and gave the company an “equal weight” rating in a report on Friday, July 11th. JPMorgan Chase & Co. boosted their price objective on shares of T. Rowe Price Group from $102.00 to $109.00 and gave the company an “underweight” rating in a report on Wednesday. Finally, The Goldman Sachs Group boosted their price objective on shares of T. Rowe Price Group from $91.00 to $92.00 and gave the company a “sell” rating in a report on Friday, October 3rd. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, ten have assigned a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus target price of $106.92.

T. Rowe Price Group Stock Up 0.5%

T. Rowe Price Group stock opened at $103.70 on Friday. The stock has a market capitalization of $22.78 billion, a PE ratio of 11.59, a price-to-earnings-growth ratio of 5.69 and a beta of 1.50. T. Rowe Price Group, Inc. has a twelve month low of $77.85 and a twelve month high of $125.81. The company has a 50 day moving average of $105.78 and a 200-day moving average of $98.88.

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

T. Rowe Price Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Monday, September 15th were issued a $1.27 dividend. This represents a $5.08 annualized dividend and a dividend yield of 4.9%. The ex-dividend date was Monday, September 15th. T. Rowe Price Group’s dividend payout ratio is 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.