USA Financial Formulas Reduces Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

USA Financial Formulas decreased its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 4.0% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,359 shares of the asset manager’s stock after selling 98 shares during the quarter. USA Financial Formulas’ holdings in T. Rowe Price Group were worth $257,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Hexagon Capital Partners LLC raised its position in T. Rowe Price Group by 54.7% during the 3rd quarter. Hexagon Capital Partners LLC now owns 294 shares of the asset manager’s stock valued at $32,000 after purchasing an additional 104 shares in the last quarter. Barlow Wealth Partners Inc. lifted its stake in T. Rowe Price Group by 1.7% in the third quarter. Barlow Wealth Partners Inc. now owns 58,212 shares of the asset manager’s stock worth $6,207,000 after acquiring an additional 971 shares during the period. Hoxton Planning & Management LLC bought a new position in T. Rowe Price Group during the 3rd quarter worth about $243,000. Brookstone Capital Management increased its position in T. Rowe Price Group by 3.9% during the 3rd quarter. Brookstone Capital Management now owns 86,089 shares of the asset manager’s stock valued at $9,378,000 after purchasing an additional 3,208 shares during the period. Finally, Exeter Financial LLC raised its holdings in shares of T. Rowe Price Group by 7.8% in the 3rd quarter. Exeter Financial LLC now owns 24,317 shares of the asset manager’s stock valued at $2,649,000 after purchasing an additional 1,750 shares in the last quarter. 73.39% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on TROW. TD Cowen cut their price target on T. Rowe Price Group from $123.00 to $118.00 and set a “hold” rating on the stock in a report on Monday, July 29th. StockNews.com downgraded shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Evercore ISI raised their target price on shares of T. Rowe Price Group from $108.00 to $109.00 and gave the company an “in-line” rating in a research note on Friday, October 4th. Keefe, Bruyette & Woods restated a “market perform” rating and set a $120.00 target price (down from $121.00) on shares of T. Rowe Price Group in a research note on Monday, July 29th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on T. Rowe Price Group from $112.00 to $113.00 and gave the stock a “hold” rating in a report on Thursday, August 15th. Four equities research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. According to MarketBeat, T. Rowe Price Group has an average rating of “Hold” and an average price target of $112.64.

Insider Buying and Selling

In other news, insider Jessica M. Hiebler sold 484 shares of T. Rowe Price Group stock in a transaction on Friday, September 13th. The stock was sold at an average price of $104.73, for a total transaction of $50,689.32. Following the transaction, the insider now owns 13,939 shares in the company, valued at $1,459,831.47. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of T. Rowe Price Group stock in a transaction on Friday, September 6th. The stock was sold at an average price of $102.83, for a total value of $1,230,772.27. Following the sale, the vice president now owns 123,624 shares in the company, valued at $12,712,255.92. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jessica M. Hiebler sold 484 shares of the stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $104.73, for a total transaction of $50,689.32. Following the transaction, the insider now directly owns 13,939 shares of the company’s stock, valued at approximately $1,459,831.47. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by company insiders.

T. Rowe Price Group Stock Up 0.5 %

Shares of NASDAQ TROW opened at $108.00 on Friday. T. Rowe Price Group, Inc. has a 52-week low of $87.43 and a 52-week high of $122.27. The company’s 50-day simple moving average is $106.78 and its 200-day simple moving average is $112.45. The firm has a market cap of $24.04 billion, a price-to-earnings ratio of 12.75, a price-to-earnings-growth ratio of 1.78 and a beta of 1.41.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings results on Friday, July 26th. The asset manager reported $2.26 EPS for the quarter, missing the consensus estimate of $2.27 by ($0.01). T. Rowe Price Group had a return on equity of 19.90% and a net margin of 28.66%. The firm had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.79 billion. During the same quarter in the previous year, the firm posted $2.02 earnings per share. The firm’s revenue for the quarter was up 7.6% compared to the same quarter last year. Equities research analysts anticipate that T. Rowe Price Group, Inc. will post 9.02 EPS for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were issued a $1.24 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $4.96 annualized dividend and a dividend yield of 4.59%. T. Rowe Price Group’s dividend payout ratio is presently 58.56%.

About T. Rowe Price Group

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.