MCF Advisors LLC Decreases Position in T. Rowe Price Group, Inc. $TROW

Key Points

• MCF Advisors LLC significantly reduced its stake in T. Rowe Price Group by 72.0% during the second quarter, now holding only 1,716 shares valued at approximately $166,000.
• In contrast, several other institutional investors increased their holdings, with Invesco Ltd. growing its position by 43.2%, owning 3,433,684 shares valued at about $315 million.
• T. Rowe Price Group recently declared a quarterly dividend of $1.27 per share, which translates to an annualized payout of $5.08 and a yield of 4.9%.

MCF Advisors LLC lowered its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 72.0% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,716 shares of the asset manager's stock after selling 4,414 shares during the quarter. MCF Advisors LLC's holdings in T. Rowe Price Group were worth $166,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Invesco Ltd. grew its position in T. Rowe Price Group by 43.2% in the first quarter. Invesco Ltd. now owns 3,433,684 shares of the asset manager's stock valued at $315,453,000 after acquiring an additional 1,035,865 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in T. Rowe Price Group by 7.2% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 7,706,251 shares of the asset manager's stock valued at $707,973,000 after purchasing an additional 519,075 shares in the last quarter. GAMMA Investing LLC increased its stake 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 during the period. Vanguard Group Inc. lifted its holdings in T. Rowe Price Group by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 26,286,393 shares of the asset manager's stock worth $2,414,931,000 after buying an additional 222,556 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in T. Rowe Price Group in the 4th quarter valued at about $21,113,000. 73.39% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at T. Rowe Price Group

In related news, Director Robert F. Maclellan sold 3,090 shares of T. Rowe Price Group stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $105.01, for a total transaction of $324,480.90. Following the sale, the director directly owned 47,335 shares in the company, valued at $4,970,648.35. The trade was a 6.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.60% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms recently commented on TROW. Morgan Stanley boosted their price target on T. Rowe Price Group from $112.00 to $116.00 and gave the stock an "equal weight" rating in a research note on Monday, August 4th. Keefe, Bruyette & Woods upped their target price on T. Rowe Price Group from $110.00 to $112.00 and gave the company a "market perform" rating in a research report on Monday, August 4th. JPMorgan Chase & Co. raised 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. 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 research note on Friday, July 11th. Finally, Evercore ISI reaffirmed a "positive" rating on shares of T. Rowe Price Group in a report on Friday, September 5th. 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. Based on data from MarketBeat, the company currently has a consensus rating of "Reduce" and an average price target of $101.55.

T. Rowe Price Group Trading Down 0.6%

Shares of NASDAQ:TROW opened at $104.66 on Wednesday. The firm's 50 day moving average is $106.23 and its two-hundred day moving average is $97.63. The firm has a market capitalization of $22.99 billion, a P/E ratio of 11.69, a PEG ratio of 2.73 and a beta of 1.51. T. Rowe Price Group, Inc. has a 52 week low of $77.85 and a 52 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, topping the consensus estimate of $2.15 by $0.09. T. Rowe Price Group had a return on equity of 19.77% and a net margin of 28.72%.The business 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 business's revenue was down .6% on a year-over-year basis. Analysts predict that T. Rowe Price Group, Inc. will post 9.29 EPS for the current year.

T. Rowe Price Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Monday, September 15th will be issued a dividend of $1.27 per share. This represents a $5.08 dividend on an annualized basis and a dividend yield of 4.9%. The ex-dividend date of this dividend is Monday, September 15th. T. Rowe Price Group's dividend payout ratio (DPR) is 56.76%.

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.

Want to see what other hedge funds are holding TROW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report).

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.