Brown Lisle Cummings Inc. Sells 6,810 Shares of T. Rowe Price Group, Inc. $TROW

Key Points

• Brown Lisle Cummings Inc. sold 6,810 shares of T. Rowe Price Group, reducing its stake by 23.2%, and now holds 22,555 shares valued at approximately $2.18 million.
• Analysts have mixed ratings on T. Rowe Price, with an average target price of $101.55, and one analyst rating it as a Buy, while several others have issued Hold or Sell ratings.
• T. Rowe Price Group recently announced a quarterly dividend of $1.27 per share, translating to an annualized dividend yield of 4.9% and a payout ratio of 56.76%.

Brown Lisle Cummings Inc. lowered its position in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 23.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 22,555 shares of the asset manager's stock after selling 6,810 shares during the period. Brown Lisle Cummings Inc.'s holdings in T. Rowe Price Group were worth $2,177,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Zions Bancorporation National Association UT purchased a new position in shares of T. Rowe Price Group during the first quarter worth approximately $27,000. Hexagon Capital Partners LLC increased its holdings in T. Rowe Price Group by 44.8% during the first quarter. Hexagon Capital Partners LLC now owns 365 shares of the asset manager's stock valued at $34,000 after buying an additional 113 shares during the period. Smallwood Wealth Investment Management LLC purchased a new position in T. Rowe Price Group during the first quarter valued at approximately $39,000. Chilton Capital Management LLC purchased a new position in T. Rowe Price Group during the first quarter valued at approximately $41,000. Finally, Wayfinding Financial LLC purchased a new position in T. Rowe Price Group in the first quarter worth $43,000. Institutional investors own 73.39% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on TROW shares. Wells Fargo & Company lifted their price target on shares of T. Rowe Price Group from $98.00 to $108.00 and gave the stock an "equal weight" rating in a report on Friday, July 11th. Zacks Research downgraded shares of T. Rowe Price Group from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 8th. Evercore ISI reaffirmed a "positive" rating on shares of T. Rowe Price Group in a report on Friday, September 5th. Keefe, Bruyette & Woods lifted their price objective on shares of T. Rowe Price Group from $110.00 to $112.00 and gave the company a "market perform" rating in a report on Monday, August 4th. Finally, Barclays reaffirmed an "underweight" rating and issued a $95.00 price objective (up previously from $91.00) on shares of T. Rowe Price Group in a report on Monday, August 4th. One investment analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat.com, T. Rowe Price Group currently has an average rating of "Reduce" and an average target price of $101.55.

Insider Activity at T. Rowe Price Group

In other news, Director Robert F. Maclellan sold 3,090 shares of the company's stock in a transaction that occurred 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. This represents a 6.13% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 2.00% of the company's stock.

T. Rowe Price Group Trading Up 0.3%

Shares of NASDAQ TROW opened at $103.47 on Friday. 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 $22.73 billion, a PE ratio of 11.56, a P/E/G ratio of 2.68 and a beta of 1.51. The company has a 50-day moving average of $106.13 and a 200 day moving average of $97.75.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last posted its 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 for the quarter, compared to analyst estimates of $1.72 billion. T. Rowe Price Group had a net margin of 28.72% and a return on equity of 19.77%. T. Rowe Price Group's revenue was down .6% on a year-over-year basis. During the same period in the previous year, the business posted $2.26 EPS. On average, sell-side analysts forecast 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 disclosed a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Monday, September 15th will be issued a $1.27 dividend. This represents a $5.08 annualized dividend and a dividend yield of 4.9%. The ex-dividend date is Monday, September 15th. T. Rowe Price Group's dividend payout ratio is currently 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.

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