MQS Management LLC Trims Stake in T. Rowe Price Group, Inc. $TROW

MQS Management LLC trimmed its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 50.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,688 shares of the asset manager’s stock after selling 2,749 shares during the quarter. MQS Management LLC’s holdings in T. Rowe Price Group were worth $259,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Zions Bancorporation National Association UT purchased a new position in T. Rowe Price Group during the first quarter worth about $27,000. Hexagon Capital Partners LLC grew its position in T. Rowe Price Group by 44.8% during the first quarter. Hexagon Capital Partners LLC now owns 365 shares of the asset manager’s stock worth $34,000 after buying an additional 113 shares in the last quarter. Smallwood Wealth Investment Management LLC purchased a new position in T. Rowe Price Group during the first quarter worth about $39,000. Curio Wealth LLC grew its position in T. Rowe Price Group by 20,700.0% during the second quarter. Curio Wealth LLC now owns 416 shares of the asset manager’s stock worth $40,000 after buying an additional 414 shares in the last quarter. Finally, Chilton Capital Management LLC purchased a new position in T. Rowe Price Group during the first quarter worth about $41,000. 73.39% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft lifted their price target on T. Rowe Price Group from $109.00 to $114.00 and gave the stock a “hold” rating in a research note on Thursday, October 9th. Wells Fargo & Company lifted their price target on T. Rowe Price Group from $98.00 to $108.00 and gave the stock an “equal weight” rating in a research note on Friday, July 11th. Bank of America lifted their price target on T. Rowe Price Group from $91.00 to $97.00 and gave the stock an “underperform” rating in a research note on Thursday, October 2nd. Zacks Research raised T. Rowe Price Group from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 10th. Finally, Barclays lifted their price target on T. Rowe Price Group from $95.00 to $103.00 and gave the stock an “underweight” rating in a research note on Tuesday, October 21st. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus target price of $107.62.

T. Rowe Price Group Trading Up 1.3%

NASDAQ TROW opened at $104.91 on Tuesday. T. Rowe Price Group, Inc. has a 1-year low of $77.85 and a 1-year high of $125.81. The stock has a 50-day moving average of $105.31 and a 200-day moving average of $99.78. The firm has a market cap of $23.05 billion, a PE ratio of 11.72, a price-to-earnings-growth ratio of 5.68 and a beta of 1.50.

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

T. Rowe Price Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Monday, September 15th were given a dividend of $1.27 per share. The ex-dividend date of this dividend was Monday, September 15th. This represents a $5.08 dividend on an annualized basis and a yield of 4.8%. T. Rowe Price Group’s dividend payout ratio is presently 56.76%.

Insider Buying and Selling

In other T. Rowe Price Group news, Director Robert F. Maclellan sold 3,090 shares of the company’s stock in a transaction that occurred 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 $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 at the SEC website. 1.60% of the stock is owned by insiders.

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.