Heritage Investors Management Corp Has $16.79 Million Holdings in T. Rowe Price Group, Inc. $TROW

Heritage Investors Management Corp cut its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 4.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 173,986 shares of the asset manager’s stock after selling 7,907 shares during the period. Heritage Investors Management Corp owned approximately 0.08% of T. Rowe Price Group worth $16,790,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Zions Bancorporation National Association UT acquired a new position in T. Rowe Price Group in the 1st quarter worth $27,000. Hexagon Capital Partners LLC lifted its stake in T. Rowe Price Group by 44.8% in the 1st quarter. Hexagon Capital Partners LLC now owns 365 shares of the asset manager’s stock valued at $34,000 after purchasing an additional 113 shares during the last quarter. Curio Wealth LLC lifted 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 acquiring an additional 414 shares during the last quarter. Smallwood Wealth Investment Management LLC acquired a new stake in T. Rowe Price Group during the first quarter worth approximately $39,000. Finally, Cromwell Holdings LLC lifted its position in T. Rowe Price Group by 3,483.3% during the second quarter. Cromwell Holdings LLC now owns 430 shares of the asset manager’s stock worth $41,000 after acquiring an additional 418 shares during the last quarter. 73.39% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other T. Rowe Price Group news, Director Robert F. Maclellan sold 3,090 shares of the business’s stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $105.01, for a total transaction of $324,480.90. Following the completion of the transaction, the director directly owned 47,335 shares in the company, valued at $4,970,648.35. The trade was a 6.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.00% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have issued reports on TROW shares. Barclays raised their price objective on shares of T. Rowe Price Group from $95.00 to $103.00 and gave the stock an “underweight” rating in a research report on Tuesday, October 21st. JPMorgan Chase & Co. raised their price objective on shares of T. Rowe Price Group from $102.00 to $109.00 and gave the stock an “underweight” rating in a research report on Wednesday, October 15th. Jefferies Financial Group raised their price objective on shares of T. Rowe Price Group from $104.00 to $106.00 and gave the stock a “hold” rating in a research report on Tuesday, October 7th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of T. Rowe Price Group from $109.00 to $114.00 and gave the stock a “hold” rating in a research report on Thursday, October 9th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of T. Rowe Price Group from $112.00 to $115.00 and gave the stock a “hold” rating in a research report on Monday, October 13th. One equities research 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, T. Rowe Price Group presently has a consensus rating of “Reduce” and an average target price of $107.62.

T. Rowe Price Group Trading Down 1.4%

NASDAQ TROW opened at $103.51 on Thursday. 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 50 day moving average of $105.24 and a 200-day moving average of $100.02. The company has a market cap of $22.74 billion, a price-to-earnings ratio of 11.57, a PEG ratio of 5.75 and a beta of 1.50.

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

T. Rowe Price Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Monday, December 15th will be given a dividend of $1.27 per share. This represents a $5.08 annualized dividend and a yield of 4.9%. The ex-dividend date is Monday, December 15th. T. Rowe Price Group’s payout ratio is currently 56.76%.

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.