Hazlett Burt & Watson Inc. Decreases Stock Holdings in T. Rowe Price Group, Inc. $TROW

Hazlett Burt & Watson Inc. decreased its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 9.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,500 shares of the asset manager’s stock after selling 253 shares during the period. Hazlett Burt & Watson Inc.’s holdings in T. Rowe Price Group were worth $241,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in TROW. GAMMA Investing LLC lifted its holdings in T. Rowe Price Group by 5.1% in the 1st quarter. GAMMA Investing LLC now owns 3,627 shares of the asset manager’s stock valued at $333,000 after purchasing an additional 176 shares in the last quarter. CX Institutional purchased a new position in T. Rowe Price Group in the 1st quarter valued at $57,000. Exchange Traded Concepts LLC lifted its holdings 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 purchasing an additional 212 shares in the last quarter. Bank Pictet & Cie Europe AG purchased a new position in T. Rowe Price Group in the 1st quarter valued at $226,000. Finally, Brown Miller Wealth Management LLC purchased a new position in T. Rowe Price Group in the 1st quarter valued at $289,000. Hedge funds and other institutional investors own 73.39% of the company’s stock.

Insiders Place Their Bets

In related 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 sale, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.60% of the company’s stock.

T. Rowe Price Group Price Performance

Shares of NASDAQ TROW opened at $105.36 on Tuesday. The company has a 50 day simple moving average of $105.81 and a 200-day simple moving average of $98.58. The company has a market capitalization of $23.15 billion, a P/E ratio of 11.77, a P/E/G ratio of 6.51 and a beta of 1.50. 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 announced its quarterly 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. The business had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.72 billion. T. Rowe Price Group had a net margin of 28.72% and a return on equity of 19.77%. The business’s revenue was down .6% compared to the same quarter last year. During the same quarter last year, the firm earned $2.26 EPS. As a group, research analysts expect 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. Investors of record on Monday, September 15th were issued a $1.27 dividend. This represents a $5.08 annualized dividend and a yield of 4.8%. The ex-dividend date was Monday, September 15th. T. Rowe Price Group’s dividend payout ratio (DPR) is 56.76%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on TROW shares. JPMorgan Chase & Co. raised their price objective on T. Rowe Price Group from $98.00 to $102.00 and gave the company an “underweight” rating in a report on Monday, August 4th. Zacks Research lowered T. Rowe Price Group from a “strong-buy” rating to a “hold” rating in a report on Monday, September 8th. Jefferies Financial Group upped their price objective on shares of T. Rowe Price Group from $104.00 to $106.00 and gave the company a “hold” rating in a report on Tuesday, October 7th. Evercore ISI raised their price objective on shares of T. Rowe Price Group from $115.00 to $118.00 and gave the stock an “in-line” rating in a research report on Thursday, October 9th. Finally, The Goldman Sachs Group boosted their target price on shares of 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 Buy rating, eleven have given a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average price target of $106.38.

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.