Midwest Financial Group LLC Reduces Position in T. Rowe Price Group, Inc. $TROW

Midwest Financial Group LLC trimmed its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 5.7% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,315 shares of the asset manager’s stock after selling 200 shares during the quarter. Midwest Financial Group LLC’s holdings in T. Rowe Price Group were worth $320,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in TROW. Exchange Traded Concepts LLC increased its position in T. Rowe Price Group by 27.9% during the 1st quarter. Exchange Traded Concepts LLC now owns 971 shares of the asset manager’s stock worth $89,000 after purchasing an additional 212 shares in the last quarter. Wealthfront Advisers LLC grew its holdings in shares of T. Rowe Price Group by 109.2% during the first quarter. Wealthfront Advisers LLC now owns 69,326 shares of the asset manager’s stock worth $6,369,000 after buying an additional 36,190 shares in the last quarter. Mather Group LLC. grew its holdings in shares of T. Rowe Price Group by 11.9% during the first quarter. Mather Group LLC. now owns 135,571 shares of the asset manager’s stock worth $12,455,000 after buying an additional 14,371 shares in the last quarter. GAMMA Investing LLC raised its position in shares of T. Rowe Price Group by 9,555.5% in the first quarter. GAMMA Investing LLC now owns 333,212 shares of the asset manager’s stock valued at $30,612,000 after buying an additional 329,761 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of T. Rowe Price Group by 12.8% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 213,769 shares of the asset manager’s stock valued at $19,575,000 after buying an additional 24,323 shares during the period. 73.39% of the stock is currently owned by hedge funds and other institutional investors.

T. Rowe Price Group Stock Performance

Shares of NASDAQ:TROW opened at $102.64 on Wednesday. The stock has a 50-day simple moving average of $106.03 and a 200-day simple moving average of $97.93. The stock has a market capitalization of $22.55 billion, a P/E ratio of 11.47, a PEG ratio of 2.68 and a beta of 1.51. T. Rowe Price Group, Inc. has a 1 year low of $77.85 and a 1 year high of $125.81.

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 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 for the quarter, compared to analysts’ expectations of $1.72 billion. During the same period in the previous year, the company posted $2.26 earnings per share. T. Rowe Price Group’s revenue was down .6% compared to the same quarter last year. Analysts predict that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current year.

T. Rowe Price Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Monday, September 15th were issued a $1.27 dividend. This represents a $5.08 annualized dividend and a yield of 4.9%. The ex-dividend date was Monday, September 15th. T. Rowe Price Group’s dividend payout ratio is currently 56.76%.

Insider Transactions at T. Rowe Price Group

In other T. Rowe Price Group 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 directly owned 47,335 shares of the company’s stock, 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 document filed with the SEC, which is available through this hyperlink. Corporate insiders own 1.60% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on TROW shares. JPMorgan Chase & Co. lifted their target price on shares of T. Rowe Price Group from $98.00 to $102.00 and gave the stock an “underweight” rating in a research note on Monday, August 4th. Keefe, Bruyette & Woods lifted their price objective on T. Rowe Price Group from $110.00 to $112.00 and gave the company a “market perform” rating in a research report on Monday, August 4th. Zacks Research lowered T. Rowe Price Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 8th. Barclays reiterated an “underweight” rating and set a $95.00 target price (up from $91.00) on shares of T. Rowe Price Group in a research report on Monday, August 4th. Finally, Wells Fargo & Company raised their price target on 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. One investment analyst has rated the stock with a Buy rating, eight have issued a Hold rating and four have given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Reduce” and an average target price of $101.55.

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.