GHP Investment Advisors Inc. Reduces Stock Position in T. Rowe Price Group, Inc. $TROW

GHP Investment Advisors Inc. lessened its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 30.9% during the second quarter, HoldingsChannel.com reports. The fund owned 16,260 shares of the asset manager’s stock after selling 7,261 shares during the quarter. GHP Investment Advisors Inc.’s holdings in T. Rowe Price Group were worth $1,569,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in TROW. TFG Advisers LLC boosted its holdings 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 worth $268,000 after buying an additional 97 shares during the last quarter. Bill Few Associates Inc. boosted its holdings in shares of T. Rowe Price Group by 4.3% in the second quarter. Bill Few Associates Inc. now owns 2,577 shares of the asset manager’s stock worth $249,000 after buying an additional 107 shares during the last quarter. Cooper Financial Group boosted its holdings in shares of T. Rowe Price Group by 5.2% in the first quarter. Cooper Financial Group now owns 2,234 shares of the asset manager’s stock worth $205,000 after buying an additional 110 shares during the last quarter. Hexagon Capital Partners LLC boosted its holdings in shares of T. Rowe Price Group by 44.8% in the first quarter. Hexagon Capital Partners LLC now owns 365 shares of the asset manager’s stock worth $34,000 after buying an additional 113 shares during the last quarter. Finally, Associated Banc Corp boosted its holdings in shares of T. Rowe Price Group by 0.5% in the first quarter. Associated Banc Corp now owns 24,864 shares of the asset manager’s stock worth $2,284,000 after buying an additional 114 shares during the last quarter. Hedge funds and other institutional investors own 73.39% of the company’s stock.

Analyst Upgrades and Downgrades

TROW has been the topic of a number of research reports. Morgan Stanley raised their price objective on shares of T. Rowe Price Group from $125.00 to $126.00 and gave the stock an “equal weight” rating in a report on Monday, October 27th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of T. Rowe Price Group from $109.00 to $114.00 and gave the stock a “hold” rating in a report on Thursday, October 9th. Barclays set a $101.00 price objective on shares of T. Rowe Price Group in a report on Monday. JPMorgan Chase & Co. raised their target price on shares of T. Rowe Price Group from $109.00 to $111.00 and gave the stock an “underweight” rating in a research note on Monday. Finally, Weiss Ratings restated a “hold (c)” rating on shares of T. Rowe Price Group in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Hold rating and four have issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Reduce” and an average target price of $108.08.

T. Rowe Price Group Trading Down 0.8%

NASDAQ TROW opened at $101.71 on Tuesday. T. Rowe Price Group, Inc. has a 12 month low of $77.85 and a 12 month high of $125.81. The stock has a market cap of $22.35 billion, a price-to-earnings ratio of 11.36, a PEG ratio of 5.61 and a beta of 1.50. The company’s 50 day moving average is $104.96 and its two-hundred day moving average is $100.43.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings data on Friday, October 31st. The asset manager reported $2.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.55 by $0.26. The firm had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.88 billion. T. Rowe Price Group had a net margin of 28.72% and a return on equity of 19.77%. The company’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same quarter last year, the business posted $2.57 earnings per share. Sell-side analysts forecast that T. Rowe Price Group, Inc. will post 9.29 EPS for the current year.

T. Rowe Price Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Monday, December 15th will be given a dividend of $1.27 per share. The ex-dividend date is Monday, December 15th. This represents a $5.08 annualized dividend and a dividend yield of 5.0%. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 55.34%.

Insider Activity

In other news, Director Robert F. Maclellan sold 3,090 shares of T. Rowe Price Group stock in a transaction that occurred 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 sale, the director owned 47,335 shares in the company, valued at $4,970,648.35. This trade represents a 6.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 2.00% of the stock is currently owned by insiders.

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.