Forvis Mazars Wealth Advisors LLC Has $1.27 Million Holdings in T. Rowe Price Group, Inc. $TROW

Forvis Mazars Wealth Advisors LLC cut its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 4.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,160 shares of the asset manager’s stock after selling 650 shares during the quarter. Forvis Mazars Wealth Advisors LLC’s holdings in T. Rowe Price Group were worth $1,270,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Zions Bancorporation National Association UT acquired a new position in shares of T. Rowe Price Group in the first quarter valued at $27,000. Hexagon Capital Partners LLC raised its stake in shares of T. Rowe Price Group by 44.8% in the first quarter. Hexagon Capital Partners LLC now owns 365 shares of the asset manager’s stock valued at $34,000 after purchasing an additional 113 shares in the last quarter. Smallwood Wealth Investment Management LLC acquired a new position in shares of T. Rowe Price Group in the first quarter valued at $39,000. Cromwell Holdings LLC raised its stake in shares of T. Rowe Price Group by 3,483.3% in the second quarter. Cromwell Holdings LLC now owns 430 shares of the asset manager’s stock valued at $41,000 after purchasing an additional 418 shares in the last quarter. Finally, Chilton Capital Management LLC acquired a new position in shares of T. Rowe Price Group in the first quarter valued at $41,000. 73.39% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Morgan Stanley upped their target price on T. Rowe Price Group from $116.00 to $125.00 and gave the company a “positive” rating in a research note on Monday, October 6th. Evercore ISI upped their target price on T. Rowe Price Group from $115.00 to $118.00 and gave the company an “in-line” rating in a research note on Thursday, October 9th. Weiss Ratings restated a “hold (c)” rating on shares of T. Rowe Price Group in a research note on Wednesday, October 8th. Jefferies Financial Group increased their price objective on T. Rowe Price Group from $104.00 to $106.00 and gave the stock a “hold” rating in a research note on Tuesday, October 7th. Finally, BMO Capital Markets started coverage on T. Rowe Price Group in a research note on Friday, October 3rd. They set a “market perform” rating and a $108.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, ten have given a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus target price of $106.92.

Insider Buying and Selling at T. Rowe Price Group

In related news, Director Robert F. Maclellan sold 3,090 shares of the firm’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 transaction, the director owned 47,335 shares in the company, valued at $4,970,648.35. This trade represents a 6.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.60% of the company’s stock.

T. Rowe Price Group Stock Performance

Shares of NASDAQ:TROW opened at $103.70 on Monday. T. Rowe Price Group, Inc. has a twelve month low of $77.85 and a twelve month high of $125.81. The firm has a market cap of $22.78 billion, a PE ratio of 11.59, a price-to-earnings-growth ratio of 5.69 and a beta of 1.50. The business has a fifty day moving average of $105.78 and a 200-day moving average of $98.96.

T. Rowe Price Group (NASDAQ:TROW) last announced its 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 return on equity of 19.77% and a net margin of 28.72%.The company had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.72 billion. During the same period last year, the company posted $2.26 earnings per share. The firm’s quarterly revenue was down .6% compared to the same quarter last year. On average, analysts anticipate that T. Rowe Price Group, Inc. will post 9.29 EPS for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Monday, September 15th were paid a $1.27 dividend. The ex-dividend date was Monday, September 15th. This represents a $5.08 dividend on an annualized basis and a dividend yield of 4.9%. T. Rowe Price Group’s dividend payout ratio (DPR) is 56.76%.

T. Rowe Price Group Company 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.