T. Rowe Price Group, Inc. $TROW Position Trimmed by Evermay Wealth Management LLC

Evermay Wealth Management LLC lessened its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 69.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 415 shares of the asset manager’s stock after selling 925 shares during the quarter. Evermay Wealth Management LLC’s holdings in T. Rowe Price Group were worth $40,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of TROW. Zions Bancorporation National Association UT bought a new stake in T. Rowe Price Group in the first quarter worth approximately $27,000. Hexagon Capital Partners LLC increased its stake in shares of T. Rowe Price Group by 44.8% during 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 acquired a new position in shares of T. Rowe Price Group during the 1st quarter worth $39,000. Chilton Capital Management LLC acquired a new position in shares of T. Rowe Price Group during the 1st quarter worth $41,000. Finally, Cromwell Holdings LLC increased its stake in shares of T. Rowe Price Group by 3,483.3% during the 2nd quarter. Cromwell Holdings LLC now owns 430 shares of the asset manager’s stock worth $41,000 after purchasing an additional 418 shares during the last quarter. Hedge funds and other institutional investors own 73.39% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. BMO Capital Markets assumed coverage on shares of T. Rowe Price Group in a research note on Friday, October 3rd. They set a “market perform” rating and a $108.00 price target on the stock. Wells Fargo & Company increased their price target on shares of T. Rowe Price Group from $98.00 to $108.00 and gave the stock an “equal weight” rating in a research note on Friday, July 11th. JPMorgan Chase & Co. upped their price objective on shares of T. Rowe Price Group from $102.00 to $109.00 and gave the stock an “underweight” rating in a report on Wednesday, October 15th. Zacks Research raised shares of T. Rowe Price Group from a “hold” rating to a “strong-buy” rating in a report on Friday, October 10th. Finally, Bank of America upped their price objective on shares of T. Rowe Price Group from $91.00 to $97.00 and gave the stock an “underperform” rating in a report on Thursday, October 2nd. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, ten have given a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat.com, T. Rowe Price Group presently has an average rating of “Reduce” and an average target price of $106.92.

Insiders Place Their Bets

In other T. Rowe Price Group news, Director Robert F. Maclellan sold 3,090 shares of the stock in a transaction 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 sale, the director directly owned 47,335 shares of the company’s stock, valued at $4,970,648.35. This represents a 6.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.60% of the stock is currently owned by company insiders.

T. Rowe Price Group Price Performance

Shares of T. Rowe Price Group stock opened at $104.24 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 firm has a fifty day moving average price of $105.76 and a two-hundred day moving average price of $99.12. The company has a market cap of $22.90 billion, a PE ratio of 11.65, a price-to-earnings-growth ratio of 5.69 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 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $1.72 billion. During the same period in the prior year, the firm earned $2.26 EPS. The business’s revenue was down .6% on a year-over-year basis. Analysts expect 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 declared a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Monday, September 15th were issued a $1.27 dividend. The ex-dividend date of this dividend was Monday, September 15th. This represents a $5.08 dividend on an annualized basis and a yield of 4.9%. T. Rowe Price Group’s dividend payout ratio is 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.