T. Rowe Price Group, Inc. $TROW Stock Holdings Decreased by Farmers & Merchants Investments Inc.

Key Points

• Farmers & Merchants Investments Inc. reduced its stake in T. Rowe Price Group by 19.6% during the 2nd quarter, owning 24,182 shares valued at approximately $2.33 million.
• Analysts have mixed sentiments on T. Rowe Price, with Barclays maintaining an "underweight" rating and multiple firms adjusting price targets between $95.00 and $116.00.
• T. Rowe Price recently announced a quarterly dividend of $1.27 per share, providing a yield of 4.8%, with a dividend payout ratio of approximately 56.76%.

Farmers & Merchants Investments Inc. lowered its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 19.6% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 24,182 shares of the asset manager's stock after selling 5,907 shares during the period. Farmers & Merchants Investments Inc.'s holdings in T. Rowe Price Group were worth $2,334,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Zions Bancorporation National Association UT bought a new stake in shares of T. Rowe Price Group in the 1st quarter worth about $27,000. Ameriflex Group Inc. bought a new stake in shares of T. Rowe Price Group in the 4th quarter worth about $42,000. Hexagon Capital Partners LLC increased its position in shares of 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 worth $34,000 after purchasing an additional 113 shares during the last quarter. Smallwood Wealth Investment Management LLC bought a new stake in shares of T. Rowe Price Group in the 1st quarter worth about $39,000. Finally, Chilton Capital Management LLC acquired a new position in shares of T. Rowe Price Group in the 1st quarter valued at about $41,000. Institutional investors own 73.39% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on TROW shares. Barclays reaffirmed an "underweight" rating and issued a $95.00 price target (up from $91.00) on shares of T. Rowe Price Group in a report on Monday, August 4th. Keefe, Bruyette & Woods lifted their price target on shares of T. Rowe Price Group from $110.00 to $112.00 and gave the company a "market perform" rating in a report on Monday, August 4th. Morgan Stanley lifted their price target on shares of 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. Evercore ISI reaffirmed a "positive" rating on shares of T. Rowe Price Group in a report on Friday, September 5th. Finally, Wells Fargo & Company lifted their price target 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. One investment analyst has rated the stock with a Buy rating, eight have given a Hold rating and four have assigned a Sell rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Reduce" and an average target price of $101.55.

T. Rowe Price Group Price Performance

TROW stock opened at $105.29 on Tuesday. T. Rowe Price Group, Inc. has a 12 month low of $77.85 and a 12 month high of $125.81. The firm has a market cap of $23.13 billion, a PE ratio of 11.76, a P/E/G ratio of 2.75 and a beta of 1.51. The firm has a 50 day simple moving average of $106.15 and a 200 day simple moving average of $97.58.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last released its earnings results on Friday, August 1st. The asset manager reported $2.24 EPS for the quarter, beating 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 business had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.72 billion. During the same period in the prior year, the business earned $2.26 earnings per share. The business's quarterly revenue was down .6% on a year-over-year basis. As a group, sell-side analysts expect that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

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