CFS Investment Advisory Services LLC Sells 474 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

CFS Investment Advisory Services LLC lessened its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 4.8% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 9,427 shares of the asset manager’s stock after selling 474 shares during the quarter. CFS Investment Advisory Services LLC’s holdings in T. Rowe Price Group were worth $1,027,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Iron Horse Wealth Management LLC raised 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 purchasing an additional 110 shares during the period. Lynx Investment Advisory acquired a new stake in shares of T. Rowe Price Group in the second quarter worth $29,000. Hexagon Capital Partners LLC grew its stake in shares of T. Rowe Price Group by 54.7% in the third quarter. Hexagon Capital Partners LLC now owns 294 shares of the asset manager’s stock worth $32,000 after acquiring an additional 104 shares during the last quarter. Family Firm Inc. acquired a new stake in shares of T. Rowe Price Group in the second quarter worth $36,000. Finally, Versant Capital Management Inc grew its stake 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 worth $38,000 after acquiring an additional 284 shares during 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 the business’s stock in a transaction that occurred on Friday, September 13th. The stock was 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 approximately $1,459,831.47. The trade was a 3.36 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 shares were sold at an average price of $102.83, for a total value of $1,230,772.27. Following the completion of the transaction, the vice president now owns 123,624 shares of the company’s stock, 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. 2.00% of the stock is currently owned by company insiders.

T. Rowe Price Group Trading Up 1.4 %

Shares of NASDAQ:TROW opened at $119.84 on Friday. The stock has a market capitalization of $26.62 billion, a P/E ratio of 13.11, a P/E/G ratio of 1.68 and a beta of 1.41. T. Rowe Price Group, Inc. has a 1-year low of $96.48 and a 1-year high of $122.27. The business has a 50-day moving average price of $112.20 and a two-hundred day moving average price of $112.43.

T. Rowe Price Group (NASDAQ:TROW) last announced 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 company had revenue of $1.79 billion during 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%. T. Rowe Price Group’s revenue was up 6.9% on a year-over-year basis. During the same period in the prior year, the business posted $2.17 EPS. As a group, equities analysts predict that T. Rowe Price Group, Inc. will post 9.33 EPS for the current year.

T. Rowe Price Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be paid a $1.24 dividend. The ex-dividend date is Friday, December 13th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 4.14%. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 54.27%.

Analyst Ratings Changes

TROW has been the topic of a number of recent research reports. StockNews.com downgraded shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Evercore ISI lifted their price target on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the stock an “in-line” rating in a research note on Thursday, November 7th. Wells Fargo & Company boosted their target price on shares of T. Rowe Price Group from $109.00 to $112.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 9th. The Goldman Sachs Group reduced their target price on shares of T. Rowe Price Group from $106.00 to $102.00 and set a “sell” rating on the stock in a research note on Thursday, October 3rd. Finally, TD Cowen reduced their target price 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. Four equities research analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $115.55.

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.