Legacy Financial Strategies LLC Has $2.48 Million Stake in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Legacy Financial Strategies LLC reduced its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 5.2% in the third quarter, HoldingsChannel.com reports. The firm owned 22,745 shares of the asset manager’s stock after selling 1,260 shares during the period. Legacy Financial Strategies LLC’s holdings in T. Rowe Price Group were worth $2,478,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Nomura Holdings Inc. bought a new stake in T. Rowe Price Group during the fourth quarter worth $691,000. GAMMA Investing LLC grew its stake in shares of T. Rowe Price Group by 39.7% in the 1st quarter. GAMMA Investing LLC now owns 1,791 shares of the asset manager’s stock worth $218,000 after acquiring an additional 509 shares in the last quarter. Massmutual Trust Co. FSB ADV raised its holdings in shares of T. Rowe Price Group by 7.5% in the first quarter. Massmutual Trust Co. FSB ADV now owns 1,236 shares of the asset manager’s stock valued at $151,000 after purchasing an additional 86 shares during the last quarter. Czech National Bank raised its holdings in shares of T. Rowe Price Group by 0.7% in the first quarter. Czech National Bank now owns 39,395 shares of the asset manager’s stock valued at $4,803,000 after purchasing an additional 255 shares during the last quarter. Finally, Banque Cantonale Vaudoise lifted its position in shares of T. Rowe Price Group by 137.1% during the first quarter. Banque Cantonale Vaudoise now owns 19,977 shares of the asset manager’s stock valued at $2,436,000 after purchasing an additional 11,551 shares in the last quarter. 73.39% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on TROW. Morgan Stanley increased their price objective on shares of T. Rowe Price Group from $125.00 to $127.00 and gave the company an “equal weight” rating in a research note on Friday. TD Cowen reduced their price objective on T. Rowe Price Group from $123.00 to $118.00 and set a “hold” rating for the company in a research note on Monday, July 29th. JPMorgan Chase & Co. lifted their target price on T. Rowe Price Group from $102.00 to $107.00 and gave the stock an “underweight” rating in a research note on Tuesday, July 23rd. Wells Fargo & Company raised their price objective on shares of T. Rowe Price Group from $109.00 to $112.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 9th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the company a “hold” rating in a research note 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.com, T. Rowe Price Group currently has a consensus rating of “Hold” and an average target price of $113.00.

T. Rowe Price Group Trading Up 2.1 %

Shares of NASDAQ TROW traded up $2.42 during mid-day trading on Friday, hitting $115.63. The company had a trading volume of 1,765,058 shares, compared to its average volume of 1,254,308. The company has a market capitalization of $25.82 billion, a price-to-earnings ratio of 13.73, a P/E/G ratio of 1.84 and a beta of 1.41. T. Rowe Price Group, Inc. has a 1 year low of $87.43 and a 1 year high of $122.27. The stock’s 50-day moving average price is $107.54 and its 200-day moving average price is $112.05.

T. Rowe Price Group (NASDAQ:TROW) last posted its earnings results on Friday, July 26th. The asset manager reported $2.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.27 by ($0.01). The firm had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.79 billion. T. Rowe Price Group had a return on equity of 19.90% and a net margin of 28.66%. The business’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.02 earnings per share. As a group, equities research analysts forecast that T. Rowe Price Group, Inc. will post 9.04 earnings per share for the current year.

T. Rowe Price Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were issued a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a dividend yield of 4.29%. The ex-dividend date of this dividend was Friday, September 13th. T. Rowe Price Group’s payout ratio is 58.91%.

Insider Buying and Selling

In other news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the company’s stock in a transaction dated 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 completion of the transaction, the vice president now directly owns 123,624 shares in the company, valued at approximately $12,712,255.92. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Jessica M. Hiebler sold 484 shares of the company’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $104.73, for a total value of $50,689.32. Following the completion of the sale, the insider now owns 13,939 shares of the company’s stock, valued at approximately $1,459,831.47. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the stock in a transaction dated Friday, September 6th. The shares were 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 of the company’s stock, valued at $12,712,255.92. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is owned by company insiders.

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.