T. Rowe Price Group, Inc. $TROW Stock Holdings Lowered by Asset Advisors Investment Management LLC

Asset Advisors Investment Management LLC lessened its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 5.7% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 42,750 shares of the asset manager’s stock after selling 2,600 shares during the quarter. Asset Advisors Investment Management LLC’s holdings in T. Rowe Price Group were worth $4,125,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Exchange Traded Concepts LLC grew its position in T. Rowe Price Group by 27.9% in the 1st quarter. Exchange Traded Concepts LLC now owns 971 shares of the asset manager’s stock valued at $89,000 after buying an additional 212 shares in the last quarter. Wealthfront Advisers LLC lifted its holdings in T. Rowe Price Group by 109.2% in the 1st quarter. Wealthfront Advisers LLC now owns 69,326 shares of the asset manager’s stock valued at $6,369,000 after acquiring an additional 36,190 shares during the last quarter. Mather Group LLC. lifted its holdings in T. Rowe Price Group by 11.9% in the 1st quarter. Mather Group LLC. now owns 135,571 shares of the asset manager’s stock valued at $12,455,000 after acquiring an additional 14,371 shares during the last quarter. GAMMA Investing LLC lifted its holdings in T. Rowe Price Group by 9,555.5% in the 1st quarter. GAMMA Investing LLC now owns 333,212 shares of the asset manager’s stock valued at $30,612,000 after acquiring an additional 329,761 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in T. Rowe Price Group by 12.8% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 213,769 shares of the asset manager’s stock valued at $19,575,000 after acquiring an additional 24,323 shares during the last quarter. Institutional investors own 73.39% of the company’s stock.

Insider Buying and Selling

In other T. Rowe Price Group news, Director Robert F. Maclellan sold 3,090 shares of the stock in a transaction that occurred on 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 $4,970,648.35. This trade represents a 6.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 2.00% of the company’s stock.

T. Rowe Price Group Stock Performance

NASDAQ:TROW opened at $101.71 on Friday. The stock’s 50 day moving average price is $105.78 and its 200 day moving average price is $98.00. T. Rowe Price Group, Inc. has a 52 week low of $77.85 and a 52 week high of $125.81. The company has a market capitalization of $22.35 billion, a P/E ratio of 11.36, a P/E/G ratio of 2.62 and a beta of 1.50.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings data on Friday, August 1st. The asset manager reported $2.24 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 the consensus estimate of $1.72 billion. During the same quarter in the prior year, the company posted $2.26 earnings per share. The firm’s revenue was down .6% on a year-over-year basis. As a group, sell-side analysts forecast that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Monday, September 15th were issued a $1.27 dividend. The ex-dividend date was Monday, September 15th. This represents a $5.08 dividend on an annualized basis and a yield of 5.0%. T. Rowe Price Group’s dividend payout ratio is currently 56.76%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on TROW. Wells Fargo & Company upped their price target on shares of T. Rowe Price Group from $98.00 to $108.00 and gave the company an “equal weight” rating in a report on Friday, July 11th. Zacks Research lowered shares of T. Rowe Price Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 8th. Barclays reaffirmed an “underweight” rating and set a $95.00 price objective (up from $91.00) on shares of T. Rowe Price Group in a research note on Monday, August 4th. JPMorgan Chase & Co. upped their price objective on shares of T. Rowe Price Group from $98.00 to $102.00 and gave the company an “underweight” rating in a research note on Monday, August 4th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of T. Rowe Price Group from $110.00 to $112.00 and gave the company a “market perform” rating in a research note on Monday, August 4th. One investment analyst has rated the stock with a Buy rating, eight have given a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus target price of $102.64.

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.