T. Rowe Price Group, Inc. $TROW Shares Sold by Marathon Capital Management

Marathon Capital Management lessened its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 5.4% during the second quarter, HoldingsChannel.com reports. The firm owned 708,145 shares of the asset manager’s stock after selling 40,205 shares during the quarter. T. Rowe Price Group makes up about 17.4% of Marathon Capital Management’s holdings, making the stock its biggest holding. Marathon Capital Management’s holdings in T. Rowe Price Group were worth $68,336,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. TD Waterhouse Canada Inc. boosted its stake in shares of T. Rowe Price Group by 66.7% in the second quarter. TD Waterhouse Canada Inc. now owns 250 shares of the asset manager’s stock valued at $25,000 after buying an additional 100 shares during the period. Zions Bancorporation National Association UT bought a new stake in shares of T. Rowe Price Group during the 1st quarter valued at $27,000. Vermillion & White Wealth Management Group LLC lifted its position in shares of T. Rowe Price Group by 120.0% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 319 shares of the asset manager’s stock valued at $31,000 after acquiring an additional 174 shares during the period. Atlantic Union Bankshares Corp acquired a new stake in shares of T. Rowe Price Group during the 2nd quarter worth $35,000. Finally, Curio Wealth LLC increased its position in shares of T. Rowe Price Group by 20,700.0% in the second quarter. Curio Wealth LLC now owns 416 shares of the asset manager’s stock worth $40,000 after purchasing an additional 414 shares during the period. 73.39% of the stock is owned by institutional investors.

T. Rowe Price Group Trading Down 1.7%

NASDAQ:TROW opened at $103.56 on Thursday. The stock’s 50-day moving average is $102.98 and its 200-day moving average is $102.30. T. Rowe Price Group, Inc. has a 1-year low of $77.85 and a 1-year high of $123.55. The stock has a market cap of $22.60 billion, a P/E ratio of 11.28, a price-to-earnings-growth ratio of 3.48 and a beta of 1.53.

T. Rowe Price Group (NASDAQ:TROW) last posted its earnings results on Friday, October 31st. The asset manager reported $2.81 EPS for the quarter, topping the consensus estimate of $2.55 by $0.26. T. Rowe Price Group had a net margin of 28.89% and a return on equity of 19.95%. The business had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.88 billion. During the same period last year, the company earned $2.57 EPS. The firm’s revenue was up 6.0% compared to the same quarter last year. As a group, equities analysts forecast that T. Rowe Price Group, Inc. will post 9.29 EPS for the current year.

T. Rowe Price Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 30th. Investors of record on Monday, December 15th will be given a dividend of $1.27 per share. This represents a $5.08 annualized dividend and a yield of 4.9%. The ex-dividend date of this dividend is Monday, December 15th. T. Rowe Price Group’s dividend payout ratio (DPR) is currently 55.34%.

Insider Activity at T. Rowe Price Group

In other news, Director Robert F. Maclellan sold 3,090 shares of the 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 completion of the sale, the director owned 47,335 shares of the company’s stock, 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 filing with the SEC, which is accessible through the SEC website. Company insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. upped their price objective on shares of T. Rowe Price Group from $109.00 to $111.00 and gave the stock an “underweight” rating in a research report on Monday, November 3rd. Bank of America increased their price target on shares of T. Rowe Price Group from $91.00 to $97.00 and gave the stock an “underperform” rating in a research report on Thursday, October 2nd. Morgan Stanley upped their target price on T. Rowe Price Group from $125.00 to $126.00 and gave the stock an “equal weight” rating in a research note on Monday, October 27th. Citigroup boosted their price target on T. Rowe Price Group from $105.00 to $107.00 in a report on Monday, November 3rd. Finally, Zacks Research lowered T. Rowe Price Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday. Twelve equities research analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and an average target price of $108.77.

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.