Impact Partnership Wealth LLC Sells 946 Shares of T. Rowe Price Group, Inc. $TROW

Impact Partnership Wealth LLC lessened its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 16.6% during the 2nd quarter, HoldingsChannel reports. The firm owned 4,751 shares of the asset manager’s stock after selling 946 shares during the period. Impact Partnership Wealth LLC’s holdings in T. Rowe Price Group were worth $458,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of TROW. Wealthfront Advisers LLC grew its position in T. Rowe Price Group by 109.2% in the first quarter. Wealthfront Advisers LLC now owns 69,326 shares of the asset manager’s stock worth $6,369,000 after acquiring an additional 36,190 shares in the last quarter. Alps Advisors Inc. grew its position in T. Rowe Price Group by 22.9% in the first quarter. Alps Advisors Inc. now owns 308,837 shares of the asset manager’s stock worth $28,373,000 after acquiring an additional 57,503 shares in the last quarter. Bank of New York Mellon Corp grew its position in T. Rowe Price Group by 1.6% in the first quarter. Bank of New York Mellon Corp now owns 1,716,724 shares of the asset manager’s stock worth $157,715,000 after acquiring an additional 26,395 shares in the last quarter. Capital Investment Counsel Inc boosted its stake in T. Rowe Price Group by 11.2% during the first quarter. Capital Investment Counsel Inc now owns 53,648 shares of the asset manager’s stock worth $4,929,000 after buying an additional 5,397 shares during the period. Finally, Commerzbank Aktiengesellschaft FI boosted its stake in T. Rowe Price Group by 74.1% during the first quarter. Commerzbank Aktiengesellschaft FI now owns 19,905 shares of the asset manager’s stock worth $1,829,000 after buying an additional 8,473 shares during the period. Institutional investors own 73.39% of the company’s stock.

Insiders Place Their Bets

In related 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 value of $324,480.90. Following the completion of the sale, the director directly owned 47,335 shares of the company’s stock, valued at $4,970,648.35. This 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 through the SEC website. 2.00% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have commented on TROW shares. Morgan Stanley lifted 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. Bank of America lifted their price objective on shares of T. Rowe Price Group from $91.00 to $97.00 and gave the stock an “underperform” rating in a research note on Thursday, October 2nd. Keefe, Bruyette & Woods lifted their price objective on shares of T. Rowe Price Group from $112.00 to $115.00 and gave the stock a “hold” rating in a research note on Monday, October 13th. Barclays lifted their price objective on shares of T. Rowe Price Group from $95.00 to $103.00 and gave the stock an “underweight” rating in a research note on Tuesday, October 21st. Finally, BMO Capital Markets started coverage on shares of 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 equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, T. Rowe Price Group has a consensus rating of “Reduce” and a consensus price target of $107.62.

T. Rowe Price Group Stock Performance

T. Rowe Price Group stock opened at $102.13 on Friday. The company has a 50 day moving average price of $105.19 and a 200-day moving average price of $100.03. T. Rowe Price Group, Inc. has a fifty-two week low of $77.85 and a fifty-two week high of $125.81. The company has a market capitalization of $22.44 billion, a PE ratio of 11.41, a P/E/G ratio of 5.61 and a beta of 1.50.

T. Rowe Price Group (NASDAQ:TROW) last posted 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. 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 during the quarter, compared to the consensus estimate of $1.72 billion. During the same quarter in the previous year, the firm posted $2.26 earnings per share. The company’s revenue was down .6% on a year-over-year basis. On average, analysts forecast that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Investors of record on Monday, December 15th will be paid a $1.27 dividend. The ex-dividend date of this dividend is Monday, December 15th. This represents a $5.08 dividend on an annualized basis and a yield of 5.0%. T. Rowe Price Group’s dividend payout ratio 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.