Heritage Investors Management Corp Sells 7,907 Shares of T. Rowe Price Group, Inc. $TROW

Heritage Investors Management Corp lessened its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 4.3% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 173,986 shares of the asset manager’s stock after selling 7,907 shares during the period. Heritage Investors Management Corp’s holdings in T. Rowe Price Group were worth $16,790,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TROW. Zions Bancorporation National Association UT bought a new stake in shares of T. Rowe Price Group during the first quarter worth $27,000. Hexagon Capital Partners LLC grew its stake 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 worth $34,000 after buying an additional 113 shares during the last quarter. Smallwood Wealth Investment Management LLC bought a new stake in shares of T. Rowe Price Group during the first quarter worth $39,000. Curio Wealth LLC grew its stake 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 worth $40,000 after buying an additional 414 shares during the last quarter. Finally, Chilton Capital Management LLC bought a new stake in shares of T. Rowe Price Group during the first quarter worth $41,000. Institutional investors own 73.39% of the company’s stock.

Insider Buying and Selling at T. Rowe Price Group

In other news, Director Robert F. Maclellan sold 3,090 shares of the company’s stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $105.01, for a total transaction of $324,480.90. Following the transaction, the director owned 47,335 shares in the company, valued at approximately $4,970,648.35. This represents a 6.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on TROW. Wells Fargo & Company boosted their target price on shares of 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. BMO Capital Markets assumed coverage on shares of T. Rowe Price Group in a research note on Friday, October 3rd. They issued a “market perform” rating and a $108.00 price objective on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of T. Rowe Price Group in a research note on Wednesday, October 8th. Morgan Stanley boosted their price objective on shares of T. Rowe Price Group from $125.00 to $126.00 and gave the stock an “equal weight” rating in a research note on Monday. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of T. Rowe Price Group from $109.00 to $114.00 and gave the stock a “hold” rating in a research note on Thursday, October 9th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat.com, T. Rowe Price Group presently has a consensus rating of “Reduce” and a consensus price target of $107.62.

T. Rowe Price Group Stock Down 1.4%

TROW stock opened at $103.51 on Thursday. The firm has a market cap of $22.74 billion, a price-to-earnings ratio of 11.57, a PEG ratio of 5.75 and a beta of 1.50. T. Rowe Price Group, Inc. has a 12-month low of $77.85 and a 12-month high of $125.81. The company’s fifty day simple moving average is $105.24 and its 200 day simple moving average is $100.02.

T. Rowe Price Group (NASDAQ:TROW) last released its earnings results on Friday, August 1st. The asset manager reported $2.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.15 by $0.09. The business had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.72 billion. T. Rowe Price Group had a net margin of 28.72% and a return on equity of 19.77%. T. Rowe Price Group’s revenue for the quarter was down .6% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.26 earnings per share. Research analysts expect that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Monday, December 15th will be issued a dividend of $1.27 per share. The ex-dividend date is Monday, December 15th. This represents a $5.08 annualized dividend and a dividend yield of 4.9%. T. Rowe Price Group’s dividend payout ratio is currently 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.