SVB Wealth LLC Sells 7,932 Shares of T. Rowe Price Group, Inc. $TROW

SVB Wealth LLC decreased its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 16.5% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,142 shares of the asset manager’s stock after selling 7,932 shares during the period. SVB Wealth LLC’s holdings in T. Rowe Price Group were worth $4,564,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. TD Private Client Wealth LLC grew its holdings in shares of T. Rowe Price Group by 91.8% during the fourth quarter. TD Private Client Wealth LLC now owns 257 shares of the asset manager’s stock valued at $26,000 after buying an additional 123 shares during the last quarter. DV Equities LLC purchased a new position in T. Rowe Price Group in the 4th quarter worth approximately $32,000. Motiv8 Investments LLC bought a new position in T. Rowe Price Group in the 4th quarter valued at approximately $35,000. Bank & Trust Co boosted its stake in T. Rowe Price Group by 52.4% during the 2nd quarter. Bank & Trust Co now owns 314 shares of the asset manager’s stock valued at $36,000 after purchasing an additional 108 shares during the last quarter. Finally, Keating Financial Advisory Services Inc. purchased a new stake in T. Rowe Price Group during the 2nd quarter valued at $39,000. 73.39% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on TROW shares. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $109.00 price target on shares of T. Rowe Price Group in a research note on Monday, August 3rd. Evercore set a $118.00 target price on shares of T. Rowe Price Group in a research note on Monday, August 10th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $115.00 price target (down from $120.00) on shares of T. Rowe Price Group in a report on Monday, August 3rd. Zacks Research lowered shares of T. Rowe Price Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 13th. Finally, BMO Capital Markets boosted their price objective on shares of T. Rowe Price Group from $110.00 to $120.00 and gave the company a “market perform” rating in a report on Monday, August 3rd. One analyst has rated the stock with a Buy rating, nine have assigned a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat.com, T. Rowe Price Group has an average rating of “Reduce” and an average target price of $106.15.

Insider Buying and Selling at T. Rowe Price Group

In related news, VP Joshua Nelson sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $111.82, for a total transaction of $1,118,200.00. Following the completion of the transaction, the vice president directly owned 71,328 shares in the company, valued at approximately $7,975,896.96. The trade was a 12.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.60% of the stock is currently owned by insiders.

T. Rowe Price Group Stock Performance

TROW stock opened at $109.42 on Wednesday. The company has a market cap of $23.34 billion, a price-to-earnings ratio of 10.97, a P/E/G ratio of 3.63 and a beta of 1.46. The business’s 50-day moving average is $114.46 and its two-hundred day moving average is $104.17. T. Rowe Price Group, Inc. has a fifty-two week low of $85.22 and a fifty-two week high of $122.00.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings results on Friday, July 31st. The asset manager reported $2.57 EPS for the quarter, beating the consensus estimate of $2.52 by $0.05. T. Rowe Price Group had a net margin of 29.26% and a return on equity of 20.91%. The firm had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.89 billion. During the same quarter in the prior year, the firm earned $2.24 EPS. The business’s revenue for the quarter was up 10.7% compared to the same quarter last year. Equities analysts predict that T. Rowe Price Group, Inc. will post 10.16 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th will be given a dividend of $1.30 per share. The ex-dividend date is Tuesday, September 15th. This represents a $5.20 annualized dividend and a yield of 4.8%. T. Rowe Price Group’s payout ratio is 52.16%.

T. Rowe Price Group Company Profile

T. Rowe Price Group, Inc is a global investment management firm headquartered in Baltimore, Maryland, founded by Thomas Rowe Price Jr. in 1937. The company provides a broad range of investment products and services for individual investors, financial intermediaries, retirement plan sponsors and institutional clients. Its offerings are built around active investment management and in-house research across equity, fixed income and multi-asset strategies, reflecting a long history as a research-driven asset manager.

The firm’s product lineup includes mutual funds, separate accounts, collective investment trusts, target-date and target-risk funds, and managed account solutions, as well as services for defined contribution and defined benefit retirement plans.