T. Rowe Price Group, Inc. $TROW Shares Sold by Folger Nolan Fleming Douglas Capital Management Inc.

Folger Nolan Fleming Douglas Capital Management Inc. trimmed its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 0.8% in the second quarter, Holdings Channel reports. The fund owned 89,282 shares of the asset manager’s stock after selling 715 shares during the period. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in T. Rowe Price Group were worth $8,616,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. TFG Advisers LLC lifted its position in T. Rowe Price Group by 3.6% during the 2nd quarter. TFG Advisers LLC now owns 2,779 shares of the asset manager’s stock worth $268,000 after acquiring an additional 97 shares during the period. Cooper Financial Group lifted its position in T. Rowe Price Group by 5.2% during the 1st quarter. Cooper Financial Group now owns 2,234 shares of the asset manager’s stock worth $205,000 after acquiring an additional 110 shares during the period. Hexagon Capital Partners LLC lifted its position in T. Rowe Price Group by 44.8% during the 1st quarter. Hexagon Capital Partners LLC now owns 365 shares of the asset manager’s stock worth $34,000 after acquiring an additional 113 shares during the period. Associated Banc Corp lifted its position in T. Rowe Price Group by 0.5% during the 1st quarter. Associated Banc Corp now owns 24,864 shares of the asset manager’s stock worth $2,284,000 after acquiring an additional 114 shares during the period. Finally, Dakota Wealth Management lifted its holdings in shares of T. Rowe Price Group by 4.7% in the 2nd quarter. Dakota Wealth Management now owns 2,537 shares of the asset manager’s stock valued at $245,000 after buying an additional 114 shares during the period. 73.39% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other T. Rowe Price Group news, Director Robert F. Maclellan sold 3,090 shares of the firm’s stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $105.01, for a total transaction of $324,480.90. Following the completion of the transaction, the director owned 47,335 shares of the company’s stock, valued at approximately $4,970,648.35. This trade represents a 6.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 2.00% of the stock is owned by insiders.

Analyst Ratings Changes

TROW has been the subject of several recent analyst reports. JPMorgan Chase & Co. raised their price target on T. Rowe Price Group from $98.00 to $102.00 and gave the company an “underweight” rating in a report on Monday, August 4th. Barclays reissued an “underweight” rating and issued a $95.00 price target (up from $91.00) on shares of T. Rowe Price Group in a report on Monday, August 4th. BMO Capital Markets initiated coverage on T. Rowe Price Group in a report on Friday, October 3rd. They issued a “market perform” rating and a $108.00 price target for the company. Weiss Ratings reissued a “hold (c)” rating on shares of T. Rowe Price Group in a report on Wednesday. Finally, Evercore ISI raised their price target on T. Rowe Price Group from $115.00 to $118.00 and gave the company an “in-line” rating in a report on Thursday. One research analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat.com, T. Rowe Price Group presently has an average rating of “Reduce” and an average price target of $104.69.

T. Rowe Price Group Price Performance

NASDAQ TROW opened at $101.43 on Friday. T. Rowe Price Group, Inc. has a 1-year low of $77.85 and a 1-year high of $125.81. The company has a market capitalization of $22.29 billion, a P/E ratio of 11.33, a PEG ratio of 6.84 and a beta of 1.50. The business has a 50 day moving average price of $105.82 and a 200 day moving average price of $98.43.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings data on Friday, August 1st. The asset manager reported $2.24 earnings per share for the quarter, beating the consensus estimate of $2.15 by $0.09. T. Rowe Price Group had a return on equity of 19.77% and a net margin of 28.72%.The firm had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.72 billion. During the same period last year, the business posted $2.26 EPS. T. Rowe Price Group’s quarterly revenue was down .6% on a year-over-year basis. On average, research analysts expect that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Monday, September 15th were paid a $1.27 dividend. This represents a $5.08 annualized dividend and a yield of 5.0%. The ex-dividend date of this dividend was Monday, September 15th. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 56.76%.

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.