T. Rowe Price Group, Inc. (TROW) Holdings Cut by Sandy Spring Bank

Sandy Spring Bank lowered its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 12.7% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,478 shares of the asset manager’s stock after selling 2,394 shares during the quarter. Sandy Spring Bank’s holdings in T. Rowe Price Group were worth $1,223,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Bronfman E.L. Rothschild L.P. boosted its position in shares of T. Rowe Price Group by 6.9% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 1,593 shares of the asset manager’s stock valued at $118,000 after acquiring an additional 103 shares during the period. Mosaic Family Wealth LLC boosted its position in shares of T. Rowe Price Group by 4.5% in the first quarter. Mosaic Family Wealth LLC now owns 1,967 shares of the asset manager’s stock valued at $134,000 after acquiring an additional 85 shares during the period. Benjamin F. Edwards & Company Inc. boosted its position in shares of T. Rowe Price Group by 103.0% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,119 shares of the asset manager’s stock valued at $157,000 after acquiring an additional 1,075 shares during the period. FNY Partners Fund LP bought a new stake in shares of T. Rowe Price Group in the first quarter valued at approximately $147,000. Finally, TCI Wealth Advisors Inc. boosted its position in shares of T. Rowe Price Group by 5.6% in the second quarter. TCI Wealth Advisors Inc. now owns 2,535 shares of the asset manager’s stock valued at $188,000 after acquiring an additional 135 shares during the period. 74.20% of the stock is owned by hedge funds and other institutional investors.

Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) traded up 0.53% on Friday, reaching $84.72. The company had a trading volume of 1,805,408 shares. The firm has a market capitalization of $20.36 billion, a price-to-earnings ratio of 14.55 and a beta of 1.24. T. Rowe Price Group, Inc. has a 52-week low of $62.97 and a 52-week high of $85.42. The company’s 50-day moving average price is $83.30 and its 200-day moving average price is $75.19.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings results on Tuesday, July 25th. The asset manager reported $1.28 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.27 by $0.01. The business had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.16 billion. T. Rowe Price Group had a return on equity of 24.38% and a net margin of 32.64%. The firm’s quarterly revenue was up 12.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.76 EPS. On average, analysts predict that T. Rowe Price Group, Inc. will post $5.65 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 28th. Investors of record on Thursday, September 14th will be paid a $0.57 dividend. The ex-dividend date is Wednesday, September 13th. This represents a $2.28 annualized dividend and a yield of 2.69%. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 39.18%.

COPYRIGHT VIOLATION NOTICE: “T. Rowe Price Group, Inc. (TROW) Holdings Cut by Sandy Spring Bank” was first posted by Transcript Daily and is owned by of Transcript Daily. If you are reading this story on another domain, it was illegally stolen and reposted in violation of United States & international copyright & trademark legislation. The original version of this story can be read at https://transcriptdaily.com/2017/09/17/t-rowe-price-group-inc-trow-holdings-cut-by-sandy-spring-bank.html.

Several equities research analysts have recently weighed in on TROW shares. ValuEngine raised T. Rowe Price Group from a “hold” rating to a “buy” rating in a research report on Wednesday, August 2nd. Zacks Investment Research cut T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Wednesday. Wells Fargo & Company reissued a “market perform” rating on shares of T. Rowe Price Group in a research report on Thursday, July 27th. Jefferies Group LLC reissued a “buy” rating and issued a $96.00 price objective on shares of T. Rowe Price Group in a research report on Sunday, August 20th. Finally, BidaskClub raised T. Rowe Price Group from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, June 14th. Four research analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $81.30.

In related news, insider Jessica M. Hiebler sold 1,000 shares of the business’s stock in a transaction on Thursday, August 31st. The stock was sold at an average price of $84.29, for a total value of $84,290.00. Following the completion of the sale, the insider now directly owns 8,461 shares in the company, valued at approximately $713,177.69. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Anne M. Whittemore sold 8,326 shares of the business’s stock in a transaction on Thursday, July 27th. The shares were sold at an average price of $82.03, for a total value of $682,981.78. Following the completion of the sale, the director now owns 28,982 shares of the company’s stock, valued at $2,377,393.46. The disclosure for this sale can be found here. Insiders sold a total of 19,720 shares of company stock valued at $1,630,701 over the last 90 days. 3.60% of the stock is currently owned by corporate insiders.

About T. Rowe Price Group

T. Rowe Price Group, Inc is a financial services holding company. The Company provides global investment management services through its subsidiaries to investors across the world. The Company provides an array of Company sponsored the United States mutual funds, other sponsored pooled investment vehicles, sub advisory services, separate account management, recordkeeping, and related services to individuals, advisors, institutions, financial intermediaries and retirement plan sponsors.

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).

Institutional Ownership by Quarter for T. Rowe Price Group (NASDAQ:TROW)

Receive News & Ratings for T. Rowe Price Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for T. Rowe Price Group Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply