OLD Point Trust & Financial Services N A Has $784,000 Position in T. Rowe Price Group, Inc. $TROW

OLD Point Trust & Financial Services N A reduced its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 13.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,125 shares of the asset manager’s stock after selling 1,225 shares during the quarter. OLD Point Trust & Financial Services N A’s holdings in T. Rowe Price Group were worth $784,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of TROW. GAMMA Investing LLC raised its stake in T. Rowe Price Group by 5.1% during the first quarter. GAMMA Investing LLC now owns 3,627 shares of the asset manager’s stock worth $333,000 after acquiring an additional 176 shares in the last quarter. Exchange Traded Concepts LLC grew its holdings in shares of T. Rowe Price Group by 27.9% during the first quarter. Exchange Traded Concepts LLC now owns 971 shares of the asset manager’s stock worth $89,000 after purchasing an additional 212 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its holdings in shares of T. Rowe Price Group by 2.9% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 43,433 shares of the asset manager’s stock worth $3,990,000 after purchasing an additional 1,214 shares during the last quarter. Asset Management One Co. Ltd. grew its holdings in shares of T. Rowe Price Group by 8.5% during the first quarter. Asset Management One Co. Ltd. now owns 95,508 shares of the asset manager’s stock worth $8,774,000 after purchasing an additional 7,455 shares during the last quarter. Finally, Moran Wealth Management LLC bought a new stake in shares of T. Rowe Price Group during the first quarter worth $8,073,000. 73.39% of the stock is currently owned by institutional investors and hedge funds.

T. Rowe Price Group Trading Down 1.4%

Shares of TROW opened at $102.76 on Thursday. T. Rowe Price Group, Inc. has a 1 year low of $77.85 and a 1 year high of $125.81. The stock has a market cap of $22.58 billion, a P/E ratio of 11.48, a price-to-earnings-growth ratio of 5.72 and a beta of 1.50. The stock’s 50-day moving average price is $105.55 and its two-hundred day moving average price is $99.18.

T. Rowe Price Group (NASDAQ:TROW) last issued its earnings results on Friday, August 1st. The asset manager reported $2.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.15 by $0.09. T. Rowe Price Group had a return on equity of 19.77% and a net margin of 28.72%.The firm had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.72 billion. During the same quarter last year, the business earned $2.26 earnings per share. The company’s revenue was down .6% 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 was paid on Monday, September 29th. Shareholders of record on Monday, September 15th were issued a dividend of $1.27 per share. The ex-dividend date was Monday, September 15th. This represents a $5.08 dividend on an annualized basis and a yield of 4.9%. T. Rowe Price Group’s dividend payout ratio (DPR) is 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 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 trade represents a 6.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

TROW has been the topic of several research analyst reports. Zacks Research upgraded T. Rowe Price Group from a “hold” rating to a “strong-buy” rating in a report on Friday, October 10th. TD Cowen increased their target price on T. Rowe Price Group from $103.00 to $108.00 and gave the stock a “hold” rating in a report on Wednesday, October 8th. Morgan Stanley increased their target price on T. Rowe Price Group from $116.00 to $125.00 and gave the stock a “positive” rating in a report on Monday, October 6th. Barclays increased their target price on T. Rowe Price Group from $95.00 to $103.00 and gave the stock an “underweight” rating in a report on Tuesday. Finally, The Goldman Sachs Group raised their price target on T. Rowe Price Group from $91.00 to $92.00 and gave the company a “sell” rating in a report on Friday, October 3rd. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, ten 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 currently has a consensus rating of “Reduce” and an average target price of $107.54.

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.