Malaga Cove Capital LLC Sells 147 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Malaga Cove Capital LLC lessened its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 1.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 14,797 shares of the asset manager’s stock after selling 147 shares during the period. Malaga Cove Capital LLC’s holdings in T. Rowe Price Group were worth $1,612,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Iron Horse Wealth Management LLC boosted its stake in T. Rowe Price Group by 90.9% during the 3rd quarter. Iron Horse Wealth Management LLC now owns 231 shares of the asset manager’s stock valued at $25,000 after purchasing an additional 110 shares during the last quarter. Lynx Investment Advisory bought a new stake in T. Rowe Price Group in the 2nd quarter worth about $29,000. Hexagon Capital Partners LLC raised its position 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 buying an additional 104 shares during the last quarter. Family Firm Inc. bought a new position in T. Rowe Price Group during the 2nd quarter valued at about $36,000. Finally, Versant Capital Management Inc boosted its holdings in shares of 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 acquiring an additional 284 shares during the last quarter. Institutional investors own 73.39% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on TROW shares. Evercore ISI increased their price objective on shares of T. Rowe Price Group from $108.00 to $109.00 and gave the company an “in-line” rating in a research report on Friday, October 4th. 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 report on Thursday, October 3rd. JPMorgan Chase & Co. cut their price objective on T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating for the company in a report on Monday. Deutsche Bank Aktiengesellschaft increased their target price on T. Rowe Price Group from $113.00 to $115.00 and gave the company a “hold” rating in a report on Monday. Finally, TD Cowen cut their price target on T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating for the company in a research note on Monday. Four equities research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $114.73.

T. Rowe Price Group Price Performance

Shares of TROW stock opened at $121.31 on Thursday. T. Rowe Price Group, Inc. has a one year low of $90.02 and a one year high of $122.27. The company’s fifty day moving average price is $108.79 and its 200-day moving average price is $111.82. The company has a market capitalization of $26.95 billion, a price-to-earnings ratio of 13.27, a PEG ratio of 1.73 and a beta of 1.41.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings results on Friday, November 1st. The asset manager reported $2.57 EPS for the quarter, beating analysts’ consensus estimates of $2.36 by $0.21. The business had revenue of $1.79 billion for the quarter, compared to analysts’ expectations of $1.84 billion. T. Rowe Price Group had a return on equity of 20.35% and a net margin of 30.35%. The business’s quarterly revenue was up 6.9% on a year-over-year basis. During the same period last year, the firm earned $2.17 earnings per share. Equities research analysts expect that T. Rowe Price Group, Inc. will post 9.27 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be issued a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a yield of 4.09%. The ex-dividend date of this dividend is Friday, December 13th. T. Rowe Price Group’s dividend payout ratio (DPR) is currently 54.27%.

Insider Activity

In related news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the firm’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 completion of the transaction, the vice president now directly owns 123,624 shares of the company’s stock, valued at approximately $12,712,255.92. This trade 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. In related news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the business’s stock in a transaction dated 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 sale, the vice president now directly owns 123,624 shares in the company, 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 value of $50,689.32. Following the transaction, the insider now owns 13,939 shares of the company’s stock, valued at $1,459,831.47. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company 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.