Legacy Financial Strategies LLC Sells 19,317 Shares of T. Rowe Price Group, Inc. $TROW

Key Points

• Legacy Financial Strategies LLC has drastically reduced its holdings in T. Rowe Price Group by 87.8%, selling 19,317 shares and leaving it with 2,687 shares valued at approximately $259,000.
• Various institutional investors have been actively changing their positions in T. Rowe Price, with Tidal Investments and Two Sigma Advisers increasing their stakes significantly during the recent quarters.
• T. Rowe Price Group recently announced a quarterly dividend of $1.27 per share, which results in an annualized dividend yield of 4.8%.

Legacy Financial Strategies LLC lowered its position in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 87.8% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 2,687 shares of the asset manager's stock after selling 19,317 shares during the period. Legacy Financial Strategies LLC's holdings in T. Rowe Price Group were worth $259,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Cooper Financial Group raised its holdings in T. Rowe Price Group by 5.2% in the 1st quarter. Cooper Financial Group now owns 2,234 shares of the asset manager's stock valued at $205,000 after buying an additional 110 shares during the period. Hexagon Capital Partners LLC boosted its holdings in 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 valued at $34,000 after purchasing an additional 113 shares in the last quarter. Associated Banc Corp boosted its holdings in 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 valued at $2,284,000 after purchasing an additional 114 shares in the last quarter. Wealthcare Capital Partners LLC boosted its holdings in T. Rowe Price Group by 1.2% in the first quarter. Wealthcare Capital Partners LLC now owns 9,429 shares of the asset manager's stock valued at $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% in the first quarter. Cullen Investment Group LTD. now owns 13,554 shares of the asset manager's stock valued at $1,245,000 after buying an additional 117 shares during the last quarter. Institutional investors and hedge funds own 73.39% of the company's stock.

T. Rowe Price Group Stock Up 0.0%

T. Rowe Price Group stock traded up $0.04 during trading hours on Tuesday, hitting $105.33. The stock had a trading volume of 216,237 shares, compared to its average volume of 1,761,276. T. Rowe Price Group, Inc. has a fifty-two week low of $77.85 and a fifty-two week high of $125.81. The company has a market cap of $23.14 billion, a PE ratio of 11.78, a price-to-earnings-growth ratio of 2.75 and a beta of 1.51. The company has a 50-day moving average of $106.15 and a two-hundred day moving average of $97.58.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last released its quarterly earnings data 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 return on equity of 19.77% and a net margin of 28.72%.The company's revenue was down .6% compared to the same quarter last year. During the same period in the prior year, the company posted $2.26 EPS. As a group, analysts forecast that T. Rowe Price Group, Inc. will post 9.29 EPS for the current fiscal year.

T. Rowe Price Group Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. JPMorgan Chase & Co. upped their price target on T. Rowe Price Group from $98.00 to $102.00 and gave the stock an "underweight" rating in a research note on Monday, August 4th. Wells Fargo & Company increased their price objective on 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. Keefe, Bruyette & Woods increased their price objective on 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 target price on T. Rowe Price Group from $112.00 to $116.00 and gave the company an "equal weight" rating in a report on Monday, August 4th. Finally, Barclays reissued an "underweight" rating and issued a $95.00 target price (up previously from $91.00) on shares of T. Rowe Price Group in a report on Monday, August 4th. One analyst has rated the stock with a Buy rating, eight have given a Hold rating and four have issued 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 $101.55.

Insider Buying and Selling

In related news, Director Robert F. Maclellan sold 3,090 shares of the firm's stock in a transaction on Monday, September 22nd. The stock was 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 of the company's stock, valued at approximately $4,970,648.35. This trade represents a 6.13% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 1.60% of the company's stock.

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.