Impact Partnership Wealth LLC Sells 946 Shares of T. Rowe Price Group, Inc. $TROW

Impact Partnership Wealth LLC reduced its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 16.6% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,751 shares of the asset manager’s stock after selling 946 shares during the period. Impact Partnership Wealth LLC’s holdings in T. Rowe Price Group were worth $458,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Zions Bancorporation National Association UT purchased a new position in shares of T. Rowe Price Group in the 1st quarter worth $27,000. Hexagon Capital Partners LLC lifted its stake in shares of 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 worth $34,000 after purchasing an additional 113 shares during the period. Curio Wealth LLC lifted its stake in shares of T. Rowe Price Group by 20,700.0% in the 2nd quarter. Curio Wealth LLC now owns 416 shares of the asset manager’s stock worth $40,000 after purchasing an additional 414 shares during the period. Cromwell Holdings LLC lifted its stake in shares of 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 purchasing an additional 418 shares during the period. Finally, Chilton Capital Management LLC bought a new position in shares of T. Rowe Price Group in the 1st quarter worth approximately $41,000. 73.39% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

TROW has been the topic of several recent research reports. TD Cowen increased their price objective on shares of T. Rowe Price Group from $103.00 to $108.00 and gave the stock a “hold” rating in a research note on Wednesday, October 8th. JPMorgan Chase & Co. increased 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 note on Wednesday, October 15th. Keefe, Bruyette & Woods increased 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 note on Monday, October 13th. Wells Fargo & Company increased their price objective on shares of 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. Finally, The Goldman Sachs Group raised their target price on shares of T. Rowe Price Group from $91.00 to $92.00 and gave the stock a “sell” rating in a research note on Friday, October 3rd. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat.com, T. Rowe Price Group presently has an average rating of “Reduce” and a consensus target price of $107.62.

T. Rowe Price Group Stock Down 1.3%

NASDAQ:TROW opened at $102.13 on Friday. The business’s 50-day simple moving average is $105.19 and its two-hundred day simple moving average is $100.03. The stock has a market cap of $22.44 billion, a PE ratio of 11.41, a P/E/G ratio of 5.61 and a beta of 1.50. T. Rowe Price Group, Inc. has a 52 week low of $77.85 and a 52 week high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings results on Friday, August 1st. The asset manager reported $2.24 EPS for the quarter, beating analysts’ consensus estimates of $2.15 by $0.09. The business had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.72 billion. T. Rowe Price Group had a return on equity of 19.77% and a net margin of 28.72%.The business’s quarterly revenue was down .6% on a year-over-year basis. During the same period last year, the firm earned $2.26 earnings per share. Sell-side analysts anticipate 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 business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Monday, December 15th will be given a dividend of $1.27 per share. The ex-dividend date is Monday, December 15th. This represents a $5.08 annualized dividend and a dividend yield of 5.0%. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 56.76%.

Insider Activity

In other news, Director Robert F. Maclellan sold 3,090 shares of T. Rowe Price Group 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 sale, the director owned 47,335 shares in the company, valued at $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 available at the SEC website. 2.00% of the stock is currently 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.