Joule Financial LLC Sells 365 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Joule Financial LLC cut its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 10.9% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,980 shares of the asset manager’s stock after selling 365 shares during the quarter. Joule Financial LLC’s holdings in T. Rowe Price Group were worth $325,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Massmutual Trust Co. FSB ADV increased its holdings in shares of T. Rowe Price Group by 7.5% in the first quarter. Massmutual Trust Co. FSB ADV now owns 1,236 shares of the asset manager’s stock worth $151,000 after purchasing an additional 86 shares during the period. MCF Advisors LLC boosted its position in shares of T. Rowe Price Group by 1.6% during the 1st quarter. MCF Advisors LLC now owns 5,953 shares of the asset manager’s stock valued at $726,000 after acquiring an additional 92 shares during the last quarter. Paulson Wealth Management Inc. grew its holdings in shares of T. Rowe Price Group by 4.9% during the first quarter. Paulson Wealth Management Inc. now owns 2,028 shares of the asset manager’s stock worth $247,000 after purchasing an additional 95 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in shares of T. Rowe Price Group by 29.9% in the second quarter. EverSource Wealth Advisors LLC now owns 430 shares of the asset manager’s stock worth $49,000 after purchasing an additional 99 shares during the last quarter. Finally, Private Wealth Partners LLC raised its stake in T. Rowe Price Group by 3.1% in the second quarter. Private Wealth Partners LLC now owns 3,300 shares of the asset manager’s stock valued at $381,000 after purchasing an additional 100 shares in the last quarter. 73.39% of the stock is currently owned by institutional investors.

T. Rowe Price Group Stock Up 1.6 %

Shares of NASDAQ:TROW traded up $1.78 on Friday, hitting $114.99. The company had a trading volume of 443,506 shares, compared to its average volume of 1,247,765. T. Rowe Price Group, Inc. has a 1 year low of $87.43 and a 1 year high of $122.27. The firm’s 50-day simple moving average is $107.33 and its two-hundred day simple moving average is $112.09. The firm has a market capitalization of $25.68 billion, a price-to-earnings ratio of 13.51, a P/E/G ratio of 1.84 and a beta of 1.41.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings data on Friday, July 26th. The asset manager reported $2.26 earnings per share for the quarter, missing the consensus estimate of $2.27 by ($0.01). T. Rowe Price Group had a net margin of 28.66% and a return on equity of 19.90%. The firm had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.79 billion. During the same period in the previous year, the firm posted $2.02 earnings per share. The business’s revenue was up 7.6% compared to the same quarter last year. Equities research analysts anticipate that T. Rowe Price Group, Inc. will post 9.04 EPS for the current year.

T. Rowe Price Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were issued a $1.24 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $4.96 dividend on an annualized basis and a yield of 4.31%. T. Rowe Price Group’s dividend payout ratio (DPR) is 58.91%.

Analyst Ratings Changes

A number of equities analysts have recently commented on TROW shares. Barclays increased their price target on shares of T. Rowe Price Group from $99.00 to $101.00 and gave the stock an “underweight” rating in a report on Monday. The Goldman Sachs Group lowered their price target on T. Rowe Price Group from $106.00 to $102.00 and set a “sell” rating on the stock in a research report on Thursday, October 3rd. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $120.00 target price (down previously from $121.00) on shares of T. Rowe Price Group in a research note on Monday, July 29th. Deutsche Bank Aktiengesellschaft upped their price target on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the company a “hold” rating in a research report on Thursday, August 15th. Finally, Morgan Stanley lifted their price objective on T. Rowe Price Group from $125.00 to $127.00 and gave the stock an “equal weight” rating in a report on Friday. Four research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $113.00.

Insider Buying and Selling at T. Rowe Price Group

In related news, insider Jessica M. Hiebler sold 484 shares of the stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $104.73, for a total value of $50,689.32. Following the completion of the transaction, the insider now directly owns 13,939 shares in the company, valued at $1,459,831.47. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 484 shares of the firm’s stock in a transaction that occurred on 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 transaction, the insider now owns 13,939 shares of the company’s stock, valued at approximately $1,459,831.47. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $102.83, for a total value of $1,230,772.27. Following the completion of the sale, the vice president now directly owns 123,624 shares in the company, 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. Insiders own 2.00% of the company’s stock.

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.