Astoria Portfolio Advisors LLC. Sells 731 Shares of T. Rowe Price Group, Inc. $TROW

Astoria Portfolio Advisors LLC. trimmed its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 25.7% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,115 shares of the asset manager’s stock after selling 731 shares during the period. Astoria Portfolio Advisors LLC.’s holdings in T. Rowe Price Group were worth $204,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Sequoia Financial Advisors LLC increased its holdings in T. Rowe Price Group by 7.1% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 6,140 shares of the asset manager’s stock worth $593,000 after purchasing an additional 409 shares in the last quarter. Total Clarity Wealth Management Inc. purchased a new position in T. Rowe Price Group in the second quarter valued at approximately $374,000. Vest Financial LLC lifted its stake in T. Rowe Price Group by 31.1% in the second quarter. Vest Financial LLC now owns 616,351 shares of the asset manager’s stock valued at $59,478,000 after purchasing an additional 146,382 shares during the last quarter. Yousif Capital Management LLC lifted its position in shares of T. Rowe Price Group by 3.7% during the second quarter. Yousif Capital Management LLC now owns 90,131 shares of the asset manager’s stock worth $8,698,000 after acquiring an additional 3,187 shares in the last quarter. Finally, Bill Few Associates Inc. lifted its position in shares of T. Rowe Price Group by 4.3% during the second quarter. Bill Few Associates Inc. now owns 2,577 shares of the asset manager’s stock worth $249,000 after acquiring an additional 107 shares in the last quarter. 73.39% of the stock is owned by institutional investors.

Analyst Ratings Changes

TROW has been the topic of a number of recent analyst reports. Morgan Stanley increased their price objective on T. Rowe Price Group from $116.00 to $125.00 and gave the stock a “positive” rating in a research report on Monday, October 6th. Zacks Research cut T. Rowe Price Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 8th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of T. Rowe Price Group in a research note on Wednesday, October 8th. BMO Capital Markets began coverage on T. Rowe Price Group in a research note on Friday, October 3rd. They issued a “market perform” rating and a $108.00 target price on the stock. Finally, Barclays reissued an “underweight” rating and issued a $95.00 target price (up from $91.00) on shares of T. Rowe Price Group in a research note on Monday, August 4th. One analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus target price of $106.38.

T. Rowe Price Group Stock Performance

TROW stock opened at $105.36 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 business’s 50 day moving average price is $105.81 and its two-hundred day moving average price is $98.58. The company has a market capitalization of $23.15 billion, a price-to-earnings ratio of 11.77, a price-to-earnings-growth ratio of 6.51 and a beta of 1.50.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings results on Friday, August 1st. The asset manager reported $2.24 EPS for the quarter, topping 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 firm had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.72 billion. During the same period in the previous year, the firm posted $2.26 EPS. The business’s revenue for the quarter was down .6% compared to the same quarter last year. Sell-side analysts forecast that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Monday, September 15th were issued a $1.27 dividend. This represents a $5.08 dividend on an annualized basis and a yield of 4.8%. The ex-dividend date was Monday, September 15th. T. Rowe Price Group’s payout ratio is presently 56.76%.

Insiders Place Their Bets

In related news, Director Robert F. Maclellan sold 3,090 shares of the business’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 value of $324,480.90. Following the completion of the transaction, the director directly owned 47,335 shares in the company, valued at $4,970,648.35. The trade was a 6.13% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.60% of the stock is currently owned by insiders.

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.