T. Rowe Price Group, Inc. $TROW Shares Sold by Freestone Capital Holdings LLC

Freestone Capital Holdings LLC reduced its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 14.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,072 shares of the asset manager’s stock after selling 3,131 shares during the quarter. Freestone Capital Holdings LLC’s holdings in T. Rowe Price Group were worth $1,840,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the business. TFG Advisers LLC lifted its holdings in shares of T. Rowe Price Group by 3.6% during the 2nd quarter. TFG Advisers LLC now owns 2,779 shares of the asset manager’s stock worth $268,000 after acquiring an additional 97 shares during the period. Bill Few Associates Inc. increased its position in T. Rowe Price Group by 4.3% during the second quarter. Bill Few Associates Inc. now owns 2,577 shares of the asset manager’s stock worth $249,000 after purchasing an additional 107 shares during the last quarter. Cooper Financial Group raised its stake in T. Rowe Price Group by 5.2% during the first quarter. Cooper Financial Group now owns 2,234 shares of the asset manager’s stock worth $205,000 after purchasing an additional 110 shares during the period. Hexagon Capital Partners LLC raised its stake 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 worth $34,000 after purchasing an additional 113 shares during the period. Finally, Associated Banc Corp boosted its holdings in shares of T. Rowe Price Group by 0.5% in the 1st quarter. Associated Banc Corp now owns 24,864 shares of the asset manager’s stock valued at $2,284,000 after purchasing an additional 114 shares during the last quarter. 73.39% of the stock is owned by institutional investors and hedge funds.

T. Rowe Price Group Stock Performance

Shares of NASDAQ:TROW opened at $101.71 on Tuesday. The company has a market cap of $22.35 billion, a P/E ratio of 11.36, a PEG ratio of 5.61 and a beta of 1.50. T. Rowe Price Group, Inc. has a one year low of $77.85 and a one year high of $125.81. The business’s 50-day simple moving average is $104.96 and its 200 day simple moving average is $100.43.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings results on Friday, October 31st. The asset manager reported $2.81 earnings per share for the quarter, topping analysts’ consensus estimates of $2.55 by $0.26. T. Rowe Price Group had a return on equity of 19.77% and a net margin of 28.72%.The firm had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.88 billion. During the same quarter in the prior year, the business earned $2.57 EPS. T. Rowe Price Group’s quarterly revenue was up 6.0% compared to the same quarter last year. 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 declared a quarterly dividend, which will be paid on Tuesday, December 30th. Investors of record on Monday, December 15th will be issued a dividend of $1.27 per share. This represents a $5.08 dividend on an annualized basis and a yield of 5.0%. The ex-dividend date of this dividend is Monday, December 15th. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 55.34%.

Analyst Ratings Changes

TROW has been the topic of several research reports. TD Cowen increased their target price on T. Rowe Price Group from $108.00 to $112.00 and gave the stock a “hold” rating in a research report on Monday. Wells Fargo & Company raised their price objective on T. Rowe Price Group from $98.00 to $108.00 and gave the stock an “equal weight” rating in a report on Friday, July 11th. Keefe, Bruyette & Woods lifted their price objective on T. Rowe Price Group from $115.00 to $117.00 and gave the company a “market perform” rating in a research note on Monday. Evercore ISI increased their target price 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, Morgan Stanley raised their price target on shares of T. Rowe Price Group from $125.00 to $126.00 and gave the company an “equal weight” rating in a report on Monday, October 27th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average target price of $108.08.

Insiders Place Their Bets

In related news, Director Robert F. Maclellan sold 3,090 shares of T. Rowe Price Group stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $105.01, for a total transaction of $324,480.90. Following the sale, the director owned 47,335 shares of the company’s stock, valued at $4,970,648.35. The trade was a 6.13% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 2.00% of the company’s stock.

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.