T. Rowe Price Group, Inc. $TROW Shares Sold by JLB & Associates Inc.

Key Points

• JLB & Associates Inc. has reduced its holdings in T. Rowe Price Group by 26.2%, now owning 29,446 shares valued at approximately $2.84 million.
• T. Rowe Price Group recently announced a quarterly dividend of $1.27 per share, yielding 4.9%, with a payout ratio of 56.76%.
• Analysts have updated their target prices for T. Rowe Price Group, with Morgan Stanley setting a new target of $116, while Barclays maintains an underweight rating with a target of $95.

JLB & Associates Inc. reduced its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 26.2% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 29,446 shares of the asset manager's stock after selling 10,465 shares during the quarter. JLB & Associates Inc.'s holdings in T. Rowe Price Group were worth $2,842,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Zions Bancorporation National Association UT acquired a new position in T. Rowe Price Group during the first quarter worth about $27,000. Hexagon Capital Partners LLC lifted its holdings in T. Rowe Price Group by 44.8% in the 1st quarter. Hexagon Capital Partners LLC now owns 365 shares of the asset manager's stock valued at $34,000 after acquiring an additional 113 shares during the last quarter. Smallwood Wealth Investment Management LLC bought a new position in shares of T. Rowe Price Group during the 1st quarter valued at about $39,000. Chilton Capital Management LLC acquired a new position in shares of T. Rowe Price Group in the 1st quarter worth approximately $41,000. Finally, Wayfinding Financial LLC acquired a new position in shares of T. Rowe Price Group in the 1st quarter worth approximately $43,000. 73.39% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at T. Rowe Price Group

In related news, Director Robert F. Maclellan sold 3,090 shares of the firm'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 transaction of $324,480.90. Following the completion of the sale, the director directly owned 47,335 shares in the company, valued at approximately $4,970,648.35. This trade represents a 6.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.60% of the company's stock.

T. Rowe Price Group Stock Up 0.0%

TROW opened at $103.52 on Tuesday. The firm has a market capitalization of $22.74 billion, a P/E ratio of 11.57, a PEG ratio of 2.68 and a beta of 1.51. The stock has a fifty day moving average of $106.10 and a 200-day moving average of $97.89. T. Rowe Price Group, Inc. has a 12-month low of $77.85 and a 12-month high of $125.81.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last issued its quarterly earnings results on Friday, August 1st. The asset manager reported $2.24 earnings per share for the quarter, beating analysts' consensus estimates of $2.15 by $0.09. The business had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.72 billion. T. Rowe Price Group had a return on equity of 19.77% and a net margin of 28.72%.T. Rowe Price Group's revenue for the quarter was down .6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.26 earnings per share. On average, analysts expect that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Monday, September 15th were given a $1.27 dividend. This represents a $5.08 dividend on an annualized basis and a dividend yield of 4.9%. The ex-dividend date of this dividend was Monday, September 15th. T. Rowe Price Group's dividend payout ratio is 56.76%.

Analysts Set New Price Targets

Several analysts recently commented on TROW shares. Morgan Stanley increased their target price on shares of T. Rowe Price Group from $112.00 to $116.00 and gave the company an "equal weight" rating in a research note on Monday, August 4th. Zacks Research cut T. Rowe Price Group from a "strong-buy" rating to a "hold" rating in a report on Monday, September 8th. Keefe, Bruyette & Woods raised 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 note on Monday, August 4th. Wells Fargo & Company boosted their target price 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. Finally, Barclays reaffirmed an "underweight" rating and set a $95.00 target price (up from $91.00) on shares of T. Rowe Price Group in a report on Monday, August 4th. One research analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and four have assigned a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Reduce" and a consensus price target of $101.55.

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.

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