Valley National Advisers Inc. Cuts Holdings in T. Rowe Price Group, Inc. $TROW

Key Points

• Valley National Advisers Inc. reduced its stake in T. Rowe Price Group by 50.2% during the second quarter, leaving it with 3,062 shares worth approximately $294,000.
• Several institutional investors, including Cromwell Holdings LLC and Hexagon Capital Partners LLC, have adjusted their holdings in T. Rowe Price, indicating a dynamic investment environment for the stock.
• T. Rowe Price Group recently declared a quarterly dividend of $1.27, with an annualized yield of 4.8%, reflecting a dividend payout ratio of 56.76%.

Valley National Advisers Inc. reduced its position in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 50.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,062 shares of the asset manager's stock after selling 3,087 shares during the period. Valley National Advisers Inc.'s holdings in T. Rowe Price Group were worth $294,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Zions Bancorporation National Association UT bought a new stake in T. Rowe Price Group in the 1st quarter worth approximately $27,000. Hexagon Capital Partners LLC increased its position 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 worth $34,000 after purchasing an additional 113 shares during the last quarter. Smallwood Wealth Investment Management LLC bought a new stake in T. Rowe Price Group in the first quarter worth $39,000. Chilton Capital Management LLC purchased a new stake in T. Rowe Price Group during the first quarter valued at $41,000. Finally, Cromwell Holdings LLC lifted its position in T. Rowe Price Group by 3,483.3% during the second quarter. Cromwell Holdings LLC now owns 430 shares of the asset manager's stock valued at $41,000 after purchasing an additional 418 shares during the last quarter. 73.39% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other 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 transaction, the director directly 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.60% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on TROW shares. Keefe, Bruyette & Woods boosted their target price on shares of T. Rowe Price Group from $110.00 to $112.00 and gave the stock a "market perform" rating in a report on Monday, August 4th. Weiss Ratings reissued a "hold (c)" rating on shares of T. Rowe Price Group in a research note on Saturday, September 27th. Morgan Stanley raised their price objective on T. Rowe Price Group from $116.00 to $125.00 and gave the company a "positive" rating in a research note on Monday. Barclays reissued an "underweight" rating and set a $95.00 target price (up previously from $91.00) on shares of T. Rowe Price Group in a research report on Monday, August 4th. Finally, JPMorgan Chase & Co. raised their price target on 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. Two investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Reduce" and a consensus target price of $104.83.

T. Rowe Price Group Stock Performance

Shares of NASDAQ TROW opened at $105.69 on Tuesday. 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 $23.22 billion, a price-to-earnings ratio of 11.81, a PEG ratio of 6.68 and a beta of 1.50. The business's 50 day moving average price is $105.71 and its 200-day moving average price is $98.22.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last posted 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. T. Rowe Price Group had a return on equity of 19.77% and a net margin of 28.72%.The company had revenue of $1.72 billion during the quarter, compared to analysts' expectations of $1.72 billion. During the same quarter in the previous year, the business earned $2.26 EPS. T. Rowe Price Group's revenue was down .6% compared to the same quarter last year. Sell-side analysts predict that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current year.

T. Rowe Price Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Monday, September 15th were paid a $1.27 dividend. This represents a $5.08 annualized dividend and a yield of 4.8%. The ex-dividend date of this dividend was Monday, September 15th. T. Rowe Price Group's dividend payout ratio (DPR) is currently 56.76%.

About T. Rowe Price Group

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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