Modera Wealth Management LLC Sells 502 Shares of T. Rowe Price Group, Inc. $TROW

Modera Wealth Management LLC trimmed its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 15.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,673 shares of the asset manager’s stock after selling 502 shares during the quarter. Modera Wealth Management LLC’s holdings in T. Rowe Price Group were worth $258,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Zions Bancorporation National Association UT bought a new stake in shares of T. Rowe Price Group in the 1st quarter valued at approximately $27,000. Atlantic Union Bankshares Corp acquired a new position in shares of T. Rowe Price Group in the 2nd quarter worth approximately $35,000. Curio Wealth LLC raised its position in T. Rowe Price Group by 20,700.0% in the 2nd quarter. Curio Wealth LLC now owns 416 shares of the asset manager’s stock valued at $40,000 after purchasing an additional 414 shares during the last quarter. Cromwell Holdings LLC grew its holdings in shares of 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 worth $41,000 after purchasing an additional 418 shares during the last quarter. Finally, Bogart Wealth LLC increased its position in T. Rowe Price Group by 1,787.5% in the 2nd quarter. Bogart Wealth LLC now owns 453 shares of the asset manager’s stock valued at $44,000 after acquiring an additional 429 shares in the last quarter. 73.39% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at T. Rowe Price Group

In other T. Rowe Price Group news, Director Robert F. Maclellan sold 3,090 shares of the company’s stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $105.01, for a total value of $324,480.90. Following the sale, the director owned 47,335 shares in the company, valued at approximately $4,970,648.35. The trade was a 6.13% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 2.00% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts recently issued reports on TROW shares. Citigroup raised their price target on T. Rowe Price Group from $105.00 to $107.00 in a report on Monday, November 3rd. Morgan Stanley upped their target price on shares of T. Rowe Price Group from $125.00 to $126.00 and gave the company an “equal weight” rating in a research note on Monday, October 27th. Weiss Ratings reiterated a “hold (c)” rating on shares of T. Rowe Price Group in a report on Wednesday, October 8th. Evercore ISI raised their target price on shares of T. Rowe Price Group from $115.00 to $118.00 and gave the stock an “in-line” rating in a report on Thursday, October 9th. Finally, Barclays set a $101.00 target price on shares of T. Rowe Price Group in a research note on Monday, November 3rd. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, T. Rowe Price Group presently has an average rating of “Reduce” and an average price target of $109.31.

T. Rowe Price Group Stock Up 0.5%

Shares of NASDAQ:TROW opened at $102.66 on Monday. The company’s 50 day moving average price is $104.45 and its two-hundred day moving average price is $100.89. T. Rowe Price Group, Inc. has a 12-month low of $77.85 and a 12-month high of $125.81. The firm has a market cap of $22.40 billion, a PE ratio of 11.47, a PEG ratio of 5.61 and a beta of 1.51.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings results on Friday, October 31st. The asset manager reported $2.81 earnings per share for the quarter, topping analysts’ consensus estimates of $2.55 by $0.26. T. Rowe Price Group had a net margin of 28.72% and a return on equity of 19.77%. The company had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.88 billion. During the same quarter in the prior year, the firm posted $2.57 EPS. The firm’s quarterly revenue was up 6.0% on a year-over-year basis. On average, research analysts expect that T. Rowe Price Group, Inc. will post 9.29 EPS for the current year.

T. Rowe Price Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 30th. Investors of record on Monday, December 15th will be given a dividend of $1.27 per share. The ex-dividend date is Monday, December 15th. This represents a $5.08 annualized dividend and a yield of 4.9%. T. Rowe Price Group’s dividend payout ratio (DPR) is currently 55.34%.

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.