T. Rowe Price Group, Inc. (NASDAQ:TROW) Shares Sold by Physicians Financial Services Inc.

Physicians Financial Services Inc. lessened its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 2.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,216 shares of the asset manager’s stock after selling 205 shares during the quarter. Physicians Financial Services Inc.’s holdings in T. Rowe Price Group were worth $1,004,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Iron Horse Wealth Management LLC boosted its holdings in T. Rowe Price Group by 90.9% during the third quarter. Iron Horse Wealth Management LLC now owns 231 shares of the asset manager’s stock worth $25,000 after buying an additional 110 shares in the last quarter. Lynx Investment Advisory acquired a new position in shares of T. Rowe Price Group during the 2nd quarter worth $29,000. Hexagon Capital Partners LLC grew 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 valued at $32,000 after acquiring an additional 104 shares during the last quarter. Family Firm Inc. acquired a new position in T. Rowe Price Group during the second quarter worth about $36,000. Finally, Versant Capital Management Inc grew its position in shares of T. Rowe Price Group by 660.5% in the second quarter. Versant Capital Management Inc now owns 327 shares of the asset manager’s stock valued at $38,000 after purchasing an additional 284 shares during the last quarter. Institutional investors and hedge funds own 73.39% of the company’s stock.

T. Rowe Price Group Stock Down 0.8 %

Shares of TROW stock traded down $0.93 on Friday, reaching $119.13. 81,350 shares of the stock were exchanged, compared to its average volume of 1,257,909. T. Rowe Price Group, Inc. has a 1-year low of $90.02 and a 1-year high of $122.27. The stock has a market cap of $26.47 billion, a P/E ratio of 13.14, a price-to-earnings-growth ratio of 1.76 and a beta of 1.41. The firm has a 50 day moving average of $108.79 and a two-hundred day moving average of $111.82.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings data on Friday, November 1st. The asset manager reported $2.57 EPS for the quarter, topping analysts’ consensus estimates of $2.36 by $0.21. T. Rowe Price Group had a return on equity of 20.35% and a net margin of 30.35%. The company had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.84 billion. During the same period last year, the business posted $2.17 EPS. The company’s quarterly revenue was up 6.9% compared to the same quarter last year. On average, equities research analysts predict that T. Rowe Price Group, Inc. will post 9.32 EPS for the current fiscal year.

T. Rowe Price Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be given a dividend of $1.24 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $4.96 dividend on an annualized basis and a yield of 4.16%. T. Rowe Price Group’s dividend payout ratio (DPR) is 54.27%.

Insider Activity at T. Rowe Price Group

In other news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the business’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $102.83, for a total transaction of $1,230,772.27. Following the transaction, the vice president now directly owns 123,624 shares of the company’s stock, valued at approximately $12,712,255.92. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, insider Jessica M. Hiebler sold 484 shares of the company’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $104.73, for a total value of $50,689.32. Following the sale, the insider now directly owns 13,939 shares of the company’s stock, valued at $1,459,831.47. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the firm’s stock in a transaction on 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 transaction, the vice president now directly owns 123,624 shares of the company’s stock, valued at approximately $12,712,255.92. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have commented on TROW shares. Wells Fargo & Company increased their target price on T. Rowe Price Group from $109.00 to $112.00 and gave the company an “equal weight” rating in a report on Wednesday, October 9th. Evercore ISI boosted their target price on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the company an “in-line” rating in a research note on Thursday. Morgan Stanley raised their price target on shares of T. Rowe Price Group from $127.00 to $129.00 and gave the stock an “equal weight” rating in a research note on Monday. The Goldman Sachs Group cut their price objective on shares of T. Rowe Price Group from $106.00 to $102.00 and set a “sell” rating for the company in a research report on Thursday, October 3rd. Finally, StockNews.com cut shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Four analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. Based on data from MarketBeat.com, T. Rowe Price Group presently has an average rating of “Hold” and a consensus price target of $115.09.

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.