Ethic Inc. Has $1.52 Million Stock Holdings in T. Rowe Price Group, Inc. $TROW

Key Points

• Ethic Inc. reduced its holdings in T. Rowe Price Group by 14.6%, owning 16,435 shares now valued at approximately $1.52 million, according to its recent SEC filing.
• Other institutional investors, including Mather Group LLC and GAMMA Investing LLC, significantly increased their stakes in T. Rowe Price Group during the same period.
• T. Rowe Price Group reported earnings per share of $2.24 for the last quarter, surpassing analyst expectations of $2.15, with a revenue aligned at $1.72 billion.

Ethic Inc. lessened its position in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 14.6% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 16,435 shares of the asset manager's stock after selling 2,807 shares during the period. Ethic Inc.'s holdings in T. Rowe Price Group were worth $1,516,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Exchange Traded Concepts LLC boosted its stake in shares of T. Rowe Price Group by 27.9% in the 1st quarter. Exchange Traded Concepts LLC now owns 971 shares of the asset manager's stock valued at $89,000 after purchasing an additional 212 shares in the last quarter. Wealthfront Advisers LLC lifted its position in 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 worth $6,369,000 after buying an additional 36,190 shares in the last quarter. Mather Group LLC. lifted its position in 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 worth $12,455,000 after buying an additional 14,371 shares in the last quarter. GAMMA Investing LLC lifted its position in T. Rowe Price Group by 9,555.5% during the 1st quarter. GAMMA Investing LLC now owns 333,212 shares of the asset manager's stock worth $30,612,000 after buying an additional 329,761 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in 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 worth $19,575,000 after buying an additional 24,323 shares in the last quarter. Institutional investors and hedge funds own 73.39% of the company's stock.

Insider Transactions at T. Rowe Price Group

In related 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 approximately $4,274,214.27. The trade was a 4.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.60% of the company's stock.

T. Rowe Price Group Price Performance

T. Rowe Price Group stock opened at $106.64 on Tuesday. The firm has a market capitalization of $23.43 billion, a price-to-earnings ratio of 11.92, a PEG ratio of 2.91 and a beta of 1.47. The company's 50 day simple moving average is $101.17 and its 200 day simple moving average is $97.61. T. Rowe Price Group, Inc. has a fifty-two week low of $77.85 and a fifty-two week high of $125.81.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last issued its quarterly earnings data on Friday, August 1st. The asset manager reported $2.24 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.15 by $0.09. The firm 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 revenue for the quarter was down .6% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.26 earnings per share. As a group, analysts predict that T. Rowe Price Group, Inc. will post 9.29 EPS for the current fiscal year.

T. Rowe Price Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Monday, September 15th will be issued a dividend of $1.27 per share. The ex-dividend date is Monday, September 15th. This represents a $5.08 dividend on an annualized basis and a yield of 4.8%. T. Rowe Price Group's payout ratio is currently 56.76%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on TROW. Keefe, Bruyette & Woods upped their price target on shares of T. Rowe Price Group from $110.00 to $112.00 and gave the stock a "market perform" rating in a research report on Monday, August 4th. Morgan Stanley upped their price target on shares of T. Rowe Price Group from $112.00 to $116.00 and gave the stock an "equal weight" rating in a research report on Monday, August 4th. Evercore ISI upped their price target on shares of T. Rowe Price Group from $106.00 to $110.00 and gave the stock an "in-line" rating in a research report on Monday, August 4th. Wells Fargo & Company upped 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 research report on Friday, July 11th. Finally, JPMorgan Chase & Co. upped their price target on shares of T. Rowe Price Group from $98.00 to $102.00 and gave the stock an "underweight" rating in a research report on Monday, August 4th. Four analysts have rated the stock with a sell rating and nine have assigned a hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.