MQS Management LLC Sells 2,749 Shares of T. Rowe Price Group, Inc. $TROW

MQS Management LLC lessened its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 50.6% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,688 shares of the asset manager’s stock after selling 2,749 shares during the quarter. MQS Management LLC’s holdings in T. Rowe Price Group were worth $259,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. Zions Bancorporation National Association UT purchased a new stake in shares of T. Rowe Price Group during the first quarter valued at approximately $27,000. Hexagon Capital Partners LLC increased its position in shares of T. Rowe Price Group by 44.8% during the first quarter. Hexagon Capital Partners LLC now owns 365 shares of the asset manager’s stock valued at $34,000 after acquiring an additional 113 shares during the last quarter. Curio Wealth LLC increased its position in shares of T. Rowe Price Group by 20,700.0% during the second quarter. Curio Wealth LLC now owns 416 shares of the asset manager’s stock valued at $40,000 after acquiring an additional 414 shares during the last quarter. Smallwood Wealth Investment Management LLC purchased a new stake in shares of T. Rowe Price Group during the first quarter valued at approximately $39,000. Finally, Cromwell Holdings LLC increased its position 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 valued at $41,000 after acquiring an additional 418 shares during the last quarter. Institutional investors own 73.39% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on TROW shares. Keefe, Bruyette & Woods increased their price target on T. Rowe Price Group from $112.00 to $115.00 and gave the company a “hold” rating in a research report on Monday, October 13th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of T. Rowe Price Group in a research report on Wednesday, October 8th. Wells Fargo & Company increased their price target on 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. JPMorgan Chase & Co. increased their price target on T. Rowe Price Group from $102.00 to $109.00 and gave the company an “underweight” rating in a research report on Wednesday, October 15th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on T. Rowe Price Group from $109.00 to $114.00 and gave the company a “hold” rating in a research note on Thursday, October 9th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus target price of $107.62.

Insider Buying and Selling at T. Rowe Price Group

In other news, Director Robert F. Maclellan sold 3,090 shares of T. Rowe Price Group stock in a transaction on Monday, September 22nd. The stock was 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 approximately $4,970,648.35. The trade was a 6.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.60% of the company’s stock.

T. Rowe Price Group Price Performance

Shares of TROW opened at $104.91 on Tuesday. The firm has a market cap of $23.05 billion, a PE ratio of 11.72, a PEG ratio of 5.68 and a beta of 1.50. T. Rowe Price Group, Inc. has a 1 year low of $77.85 and a 1 year high of $125.81. The stock’s fifty day moving average price is $105.31 and its two-hundred day moving average price is $99.78.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings results on Friday, August 1st. The asset manager reported $2.24 earnings per share for the quarter, beating the consensus estimate of $2.15 by $0.09. The company had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.72 billion. T. Rowe Price Group had a return on equity of 19.77% and a net margin of 28.72%.The firm’s quarterly revenue was down .6% compared to the same quarter last year. During the same period in the previous year, the business earned $2.26 earnings per share. Sell-side analysts anticipate that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Monday, September 15th were given a $1.27 dividend. The ex-dividend date was Monday, September 15th. This represents a $5.08 annualized dividend and a dividend yield of 4.8%. T. Rowe Price Group’s payout ratio is 56.76%.

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.