Astoria Portfolio Advisors LLC. Decreases Holdings in T. Rowe Price Group, Inc. $TROW

Astoria Portfolio Advisors LLC. cut its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 25.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,115 shares of the asset manager’s stock after selling 731 shares during the period. Astoria Portfolio Advisors LLC.’s holdings in T. Rowe Price Group were worth $204,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of TROW. Zions Bancorporation National Association UT bought a new stake in shares of T. Rowe Price Group during the 1st quarter valued at $27,000. Hexagon Capital Partners LLC grew its position in shares of 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 valued at $34,000 after acquiring an additional 113 shares during the period. Smallwood Wealth Investment Management LLC bought a new stake in shares of T. Rowe Price Group during the 1st quarter valued at $39,000. Chilton Capital Management LLC bought a new stake in shares of T. Rowe Price Group during the 1st quarter valued at $41,000. Finally, Cromwell Holdings LLC boosted its holdings in T. Rowe Price Group by 3,483.3% in the 2nd quarter. Cromwell Holdings LLC now owns 430 shares of the asset manager’s stock worth $41,000 after buying an additional 418 shares during the period. Institutional investors own 73.39% of the company’s stock.

T. Rowe Price Group Trading Up 3.9%

Shares of NASDAQ TROW opened at $105.36 on Tuesday. The firm’s 50-day moving average price is $105.81 and its 200-day moving average price is $98.58. The stock has a market capitalization of $23.15 billion, a price-to-earnings ratio of 11.77, a P/E/G ratio of 6.51 and a beta of 1.50. T. Rowe Price Group, Inc. has a 12-month low of $77.85 and a 12-month high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last announced its earnings results on Friday, August 1st. The asset manager reported $2.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.15 by $0.09. The firm had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.72 billion. T. Rowe Price Group had a net margin of 28.72% and a return on equity of 19.77%. The business’s revenue was down .6% compared to the same quarter last year. During the same period in the prior year, the company earned $2.26 EPS. On average, equities analysts predict that T. Rowe Price Group, Inc. will post 9.29 EPS 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 given a $1.27 dividend. This represents a $5.08 dividend on an annualized basis and a yield of 4.8%. The ex-dividend date of this dividend was Monday, September 15th. T. Rowe Price Group’s dividend payout ratio is 56.76%.

Insiders Place Their Bets

In related news, Director Robert F. Maclellan sold 3,090 shares of the stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $105.01, for a total value of $324,480.90. Following the sale, the director directly owned 47,335 shares of the company’s stock, valued at $4,970,648.35. This represents a 6.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.60% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. TD Cowen upped their target price on shares of T. Rowe Price Group from $103.00 to $108.00 and gave the stock a “hold” rating in a report on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft upped their target price on shares of T. Rowe Price Group from $109.00 to $114.00 and gave the stock a “hold” rating in a report on Thursday, October 9th. Morgan Stanley upped their target price on shares of T. Rowe Price Group from $116.00 to $125.00 and gave the stock a “positive” rating in a report on Monday, October 6th. Wells Fargo & Company upped their target price on shares of T. Rowe Price Group from $98.00 to $108.00 and gave the stock an “equal weight” rating in a report on Friday, July 11th. Finally, Evercore ISI upped their target price on shares of T. Rowe Price Group from $115.00 to $118.00 and gave the stock an “in-line” rating in a report on Thursday, October 9th. One investment analyst has rated the stock with a Buy rating, eleven have issued a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus price target of $106.38.

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.