Lbp Am Sa Sells 16,282 Shares of T. Rowe Price Group, Inc. $TROW

Lbp Am Sa reduced its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 11.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 125,548 shares of the asset manager’s stock after selling 16,282 shares during the period. Lbp Am Sa’s holdings in T. Rowe Price Group were worth $12,115,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of TROW. Zions Bancorporation National Association UT bought a new position in T. Rowe Price Group during the first quarter valued at about $27,000. Hexagon Capital Partners LLC raised its holdings in T. Rowe Price Group by 44.8% during the first quarter. Hexagon Capital Partners LLC now owns 365 shares of the asset manager’s stock valued at $34,000 after buying an additional 113 shares in the last quarter. Smallwood Wealth Investment Management LLC acquired a new stake in shares of T. Rowe Price Group in the first quarter valued at about $39,000. Chilton Capital Management LLC acquired a new stake in shares of T. Rowe Price Group in the first quarter valued at about $41,000. Finally, Wayfinding Financial LLC acquired a new stake in shares of T. Rowe Price Group in the first quarter valued at about $43,000. 73.39% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Robert F. Maclellan sold 3,090 shares of T. Rowe Price Group stock in a transaction that occurred on 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 transaction, the director owned 47,335 shares in the company, valued at approximately $4,970,648.35. The trade was a 6.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.60% of the company’s stock.

T. Rowe Price Group Trading Down 0.9%

NASDAQ TROW opened at $102.64 on Wednesday. The stock’s 50 day moving average is $106.03 and its two-hundred day moving average is $97.93. The company has a market capitalization of $22.55 billion, a price-to-earnings ratio of 11.47, a PEG ratio of 2.68 and a beta of 1.51. T. Rowe Price Group, Inc. has a 1-year low of $77.85 and a 1-year high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings data on Friday, August 1st. The asset manager reported $2.24 earnings per share for the quarter, beating analysts’ consensus estimates of $2.15 by $0.09. The company had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.72 billion. T. Rowe Price Group had a return on equity of 19.77% and a net margin of 28.72%.The company’s quarterly revenue was down .6% on a year-over-year basis. During the same period in the previous year, the business earned $2.26 earnings per share. On average, analysts predict that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Monday, September 15th were paid a $1.27 dividend. The ex-dividend date was Monday, September 15th. This represents a $5.08 dividend on an annualized basis and a dividend yield of 4.9%. T. Rowe Price Group’s payout ratio is 56.76%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Evercore ISI reaffirmed a “positive” rating on shares of T. Rowe Price Group in a research report on Friday, September 5th. Zacks Research downgraded T. Rowe Price Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 8th. Wells Fargo & Company raised their price target on T. Rowe Price Group from $98.00 to $108.00 and gave the company an “equal weight” rating in a research report on Friday, July 11th. Barclays reaffirmed an “underweight” rating and issued a $95.00 price target (up from $91.00) on shares of T. Rowe Price Group in a research report on Monday, August 4th. Finally, JPMorgan Chase & Co. raised their price target on T. Rowe Price Group from $98.00 to $102.00 and gave the company an “underweight” rating in a research report on Monday, August 4th. One investment analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average target price of $101.55.

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.