Atria Wealth Solutions Inc. trimmed its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 34.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,493 shares of the asset manager's stock after selling 3,427 shares during the period. Atria Wealth Solutions Inc.'s holdings in T. Rowe Price Group were worth $629,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Exchange Traded Concepts LLC boosted its position in shares of T. Rowe Price Group by 27.9% during the 1st quarter. Exchange Traded Concepts LLC now owns 971 shares of the asset manager's stock valued at $89,000 after acquiring an additional 212 shares in the last quarter. Wealthfront Advisers LLC boosted its position in shares of T. Rowe Price Group by 109.2% during the 1st quarter. Wealthfront Advisers LLC now owns 69,326 shares of the asset manager's stock valued at $6,369,000 after acquiring an additional 36,190 shares in the last quarter. Mather Group LLC. boosted its position in shares of T. Rowe Price Group by 11.9% during the 1st quarter. Mather Group LLC. now owns 135,571 shares of the asset manager's stock valued at $12,455,000 after acquiring an additional 14,371 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of T. Rowe Price Group by 12.8% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 213,769 shares of the asset manager's stock valued at $19,575,000 after acquiring an additional 24,323 shares in the last quarter. Finally, Alps Advisors Inc. boosted its position in shares of T. Rowe Price Group by 22.9% during the 1st quarter. Alps Advisors Inc. now owns 308,837 shares of the asset manager's stock valued at $28,373,000 after acquiring an additional 57,503 shares in the last quarter. 73.39% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling at T. Rowe Price Group
In other T. Rowe Price Group news, Director Robert F. Maclellan sold 3,090 shares of the business's stock in a transaction dated Monday, September 22nd. The shares were 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 of the company's stock, valued at approximately $4,970,648.35. The trade was a 6.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.00% of the company's stock.
Analyst Upgrades and Downgrades
TROW has been the topic of several recent research reports. Morgan Stanley lifted their target price on shares of T. Rowe Price Group from $116.00 to $125.00 and gave the company a "positive" rating in a research report on Monday, October 6th. JPMorgan Chase & Co. lifted their target price on shares of T. Rowe Price Group from $102.00 to $109.00 and gave the company an "underweight" rating in a research report on Wednesday. Deutsche Bank Aktiengesellschaft lifted their price target on shares of T. Rowe Price Group from $109.00 to $114.00 and gave the company a "hold" rating in a report on Thursday, October 9th. Keefe, Bruyette & Woods lifted their price target on shares of T. Rowe Price Group from $112.00 to $115.00 and gave the company a "hold" rating in a report on Monday, October 13th. Finally, Zacks Research raised shares of T. Rowe Price Group from a "hold" rating to a "strong-buy" rating in a report on Friday, October 10th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, ten have given a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Reduce" and an average price target of $106.92.
Check Out Our Latest Stock Report on T. Rowe Price Group
T. Rowe Price Group Stock Up 0.5%
Shares of TROW stock opened at $103.70 on Friday. T. Rowe Price Group, Inc. has a 12-month low of $77.85 and a 12-month high of $125.81. The company has a market capitalization of $22.78 billion, a P/E ratio of 11.59, a P/E/G ratio of 5.69 and a beta of 1.50. The firm has a 50-day moving average price of $105.78 and a 200 day moving average price of $98.88.
T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last announced its earnings results on Friday, August 1st. The asset manager reported $2.24 earnings per share for the quarter, topping 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 company had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.72 billion. During the same period in the previous year, the firm posted $2.26 earnings per share. The company's revenue was down .6% on a year-over-year basis. As a group, research analysts expect that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current year.
T. Rowe Price Group Dividend Announcement
The business also recently announced 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 of this dividend was Monday, September 15th. This represents a $5.08 dividend on an annualized basis and a dividend yield of 4.9%. T. Rowe Price Group's payout ratio is currently 56.76%.
About T. Rowe Price Group
(
Free Report)
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.
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