CW Advisors LLC Trims Stock Position in T. Rowe Price Group, Inc. $TROW

Key Points

• CW Advisors LLC reduced its stake in T. Rowe Price Group by 4.7%, owning 88,731 shares valued at approximately $8.15 million.
• T. Rowe Price Group recently announced a quarterly dividend of $1.27 per share, representing an annualized yield of 4.7%.
• The asset manager reported earnings of $2.24 per share for the quarter, exceeding expectations, though revenue was down 0.6% year-over-year.

CW Advisors LLC cut its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 4.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 88,731 shares of the asset manager's stock after selling 4,343 shares during the period. CW Advisors LLC's holdings in T. Rowe Price Group were worth $8,152,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Cooper Financial Group raised its position in 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 valued at $205,000 after purchasing an additional 110 shares during the period. Hexagon Capital Partners LLC lifted its stake 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 worth $34,000 after purchasing an additional 113 shares in the last quarter. Associated Banc Corp lifted its stake in T. Rowe Price Group by 0.5% during the first quarter. Associated Banc Corp now owns 24,864 shares of the asset manager's stock worth $2,284,000 after purchasing an additional 114 shares in the last quarter. Wealthcare Capital Partners LLC lifted its stake in T. Rowe Price Group by 1.2% during the first quarter. Wealthcare Capital Partners LLC now owns 9,429 shares of the asset manager's stock worth $866,000 after purchasing an additional 115 shares in the last quarter. Finally, Cullen Investment Group LTD. lifted its stake in T. Rowe Price Group by 0.9% during the first quarter. Cullen Investment Group LTD. now owns 13,554 shares of the asset manager's stock worth $1,245,000 after purchasing an additional 117 shares in the last quarter. Hedge funds and other institutional investors own 73.39% of the company's stock.

T. Rowe Price Group Stock Up 3.6%

NASDAQ TROW opened at $108.29 on Friday. T. Rowe Price Group, Inc. has a 52 week low of $77.85 and a 52 week high of $125.81. The stock has a market capitalization of $23.79 billion, a PE ratio of 12.10, a price-to-earnings-growth ratio of 2.74 and a beta of 1.47. The firm has a 50 day moving average of $102.12 and a two-hundred day moving average of $97.60.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last posted its quarterly earnings results on Friday, August 1st. The asset manager reported $2.24 EPS for the quarter, topping the consensus estimate 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 analysts' expectations of $1.72 billion. During the same quarter in the previous year, the business posted $2.26 EPS. The firm's revenue was down .6% on a year-over-year basis. On average, equities research analysts expect that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Monday, September 15th will be issued a dividend of $1.27 per share. This represents a $5.08 annualized dividend and a yield of 4.7%. The ex-dividend date is Monday, September 15th. T. Rowe Price Group's payout ratio is 56.76%.

Insider Buying and Selling

In other T. Rowe Price Group news, VP Dorothy C. Sawyer sold 2,000 shares of the business's stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $95.43, for a total transaction of $190,860.00. Following the completion of the transaction, the vice president owned 44,789 shares in the company, valued at $4,274,214.27. The trade was a 4.27% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 2.00% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have commented on TROW. Keefe, Bruyette & Woods upped their price target on T. Rowe Price Group from $110.00 to $112.00 and gave the stock a "market perform" rating in a research note on Monday, August 4th. Wells Fargo & Company lifted 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. lifted their price objective on shares of T. Rowe Price Group from $98.00 to $102.00 and gave the company an "underweight" rating in a report on Monday, August 4th. Evercore ISI lifted their price objective on shares of T. Rowe Price Group from $106.00 to $110.00 and gave the company an "in-line" rating in a report on Monday, August 4th. Finally, Cowen restated a "hold" rating on shares of T. Rowe Price Group in a report on Monday, May 5th. Eight research analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, T. Rowe Price Group presently has an average rating of "Reduce" and an average target price of $101.09.

T. Rowe Price Group Company 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.

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