Ironwood Investment Counsel LLC Trims Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Ironwood Investment Counsel LLC decreased its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 1.8% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 15,085 shares of the asset manager’s stock after selling 278 shares during the quarter. Ironwood Investment Counsel LLC’s holdings in T. Rowe Price Group were worth $1,643,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of TROW. Iron Horse Wealth Management LLC lifted its position in shares of T. Rowe Price Group by 90.9% in the third quarter. Iron Horse Wealth Management LLC now owns 231 shares of the asset manager’s stock valued at $25,000 after acquiring an additional 110 shares in the last quarter. Lynx Investment Advisory purchased a new position in T. Rowe Price Group in the 2nd quarter worth approximately $29,000. Hexagon Capital Partners LLC boosted its stake in T. Rowe Price Group by 54.7% in the 3rd quarter. Hexagon Capital Partners LLC now owns 294 shares of the asset manager’s stock worth $32,000 after purchasing an additional 104 shares during the period. Family Firm Inc. bought a new position in T. Rowe Price Group in the 2nd quarter worth approximately $36,000. Finally, Versant Capital Management Inc grew its holdings in T. Rowe Price Group by 660.5% during the 2nd quarter. Versant Capital Management Inc now owns 327 shares of the asset manager’s stock valued at $38,000 after buying an additional 284 shares in the last quarter. Institutional investors own 73.39% of the company’s stock.

Insider Activity

In related news, insider Jessica M. Hiebler sold 484 shares of T. Rowe Price Group stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $104.73, for a total transaction of $50,689.32. Following the completion of the sale, the insider now owns 13,939 shares in the company, valued at $1,459,831.47. This trade represents a 3.36 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, 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 transaction of $1,230,772.27. Following the completion of the transaction, the vice president now owns 123,624 shares in the company, valued at $12,712,255.92. This represents a 8.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

T. Rowe Price Group Stock Down 0.3 %

Shares of TROW opened at $123.84 on Friday. The business has a fifty day moving average of $113.76 and a 200 day moving average of $112.85. The company has a market cap of $27.51 billion, a PE ratio of 13.55, a P/E/G ratio of 1.75 and a beta of 1.41. T. Rowe Price Group, Inc. has a 52-week low of $97.50 and a 52-week high of $124.83.

T. Rowe Price Group (NASDAQ:TROW) last released its earnings results on Friday, November 1st. The asset manager reported $2.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.21. The firm had revenue of $1.79 billion during the quarter, compared to analyst estimates of $1.84 billion. T. Rowe Price Group had a net margin of 30.35% and a return on equity of 20.35%. The business’s revenue was up 6.9% on a year-over-year basis. During the same quarter last year, the business earned $2.17 EPS. As a group, research analysts anticipate that T. Rowe Price Group, Inc. will post 9.39 earnings per share for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be paid a dividend of $1.24 per share. The ex-dividend date is Friday, December 13th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 4.01%. T. Rowe Price Group’s dividend payout ratio is 54.27%.

Analyst Ratings Changes

A number of brokerages recently weighed in on TROW. JPMorgan Chase & Co. dropped their target price on shares of T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating for the company in a research report on Monday, November 4th. TD Cowen decreased their price target on shares of T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating on the stock in a research note on Monday, November 4th. Morgan Stanley raised their price objective on T. Rowe Price Group from $127.00 to $129.00 and gave the company an “equal weight” rating in a research report on Monday, November 4th. Wells Fargo & Company lifted their target price on 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, Evercore ISI increased their price target on T. Rowe Price Group from $112.00 to $113.00 and gave the company an “in-line” rating in a research note on Thursday, November 7th. Four research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $115.55.

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.