Clean Yield Group Lowers Stake in T. Rowe Price Group, Inc. $TROW

Clean Yield Group reduced its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 36.3% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 351 shares of the asset manager’s stock after selling 200 shares during the quarter. Clean Yield Group’s holdings in T. Rowe Price Group were worth $34,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Exchange Traded Concepts LLC boosted its stake in shares of T. Rowe Price Group by 27.9% during the first quarter. Exchange Traded Concepts LLC now owns 971 shares of the asset manager’s stock valued at $89,000 after purchasing an additional 212 shares during the period. Wealthfront Advisers LLC lifted its stake in T. Rowe Price Group by 109.2% in the first quarter. Wealthfront Advisers LLC now owns 69,326 shares of the asset manager’s stock worth $6,369,000 after acquiring an additional 36,190 shares during the period. Mather Group LLC. lifted its stake in T. Rowe Price Group by 11.9% in the first quarter. Mather Group LLC. now owns 135,571 shares of the asset manager’s stock worth $12,455,000 after acquiring an additional 14,371 shares during the period. GAMMA Investing LLC lifted its stake in T. Rowe Price Group by 9,555.5% in the first quarter. GAMMA Investing LLC now owns 333,212 shares of the asset manager’s stock worth $30,612,000 after acquiring an additional 329,761 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in T. Rowe Price Group by 12.8% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 213,769 shares of the asset manager’s stock worth $19,575,000 after acquiring an additional 24,323 shares during the period. 73.39% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Robert F. Maclellan sold 3,090 shares of the company’s 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 transaction, the director owned 47,335 shares in the company, valued at $4,970,648.35. This represents a 6.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.60% of the stock is currently owned by company insiders.

T. Rowe Price Group Stock Performance

TROW stock opened at $103.47 on Monday. T. Rowe Price Group, Inc. has a one year low of $77.85 and a one year high of $125.81. The firm has a market cap of $22.73 billion, a price-to-earnings ratio of 11.56, a PEG ratio of 2.68 and a beta of 1.51. The firm has a 50-day simple moving average of $106.13 and a two-hundred day simple moving average of $97.82.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings data on Friday, August 1st. The asset manager reported $2.24 earnings per share (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 firm had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.72 billion. During the same quarter in the prior year, the company posted $2.26 earnings per share. The company’s revenue for the quarter was down .6% compared to the same quarter last year. As a group, equities analysts predict that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The business also recently disclosed 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. The ex-dividend date is Monday, September 15th. This represents a $5.08 annualized dividend and a dividend yield of 4.9%. T. Rowe Price Group’s dividend payout ratio is 56.76%.

Analyst Ratings Changes

TROW has been the subject of a number of research reports. Evercore ISI reaffirmed a “positive” rating on shares of T. Rowe Price Group in a research note on Friday, September 5th. Morgan Stanley upped their price objective on shares of 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. JPMorgan Chase & Co. upped their price objective on shares of T. Rowe Price Group from $98.00 to $102.00 and gave the stock an “underweight” rating in a research note on Monday, August 4th. Zacks Research lowered shares of T. Rowe Price Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 8th. Finally, Wells Fargo & Company increased 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 research report on Friday, July 11th. One analyst has rated the stock with a Buy rating, eight have given a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat, T. Rowe Price Group 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.