Modera Wealth Management LLC Sells 502 Shares of T. Rowe Price Group, Inc. $TROW

Modera Wealth Management LLC lessened its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 15.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,673 shares of the asset manager’s stock after selling 502 shares during the period. Modera Wealth Management LLC’s holdings in T. Rowe Price Group were worth $258,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of TROW. Zions Bancorporation National Association UT purchased a new position in T. Rowe Price Group during the 1st quarter worth $27,000. Atlantic Union Bankshares Corp purchased a new position in T. Rowe Price Group in the second quarter worth $35,000. 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 valued at $40,000 after buying an additional 414 shares during the period. Cromwell Holdings LLC raised its position in T. Rowe Price Group by 3,483.3% in 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 period. Finally, Bogart Wealth LLC boosted its stake in T. Rowe Price Group by 1,787.5% in the second quarter. Bogart Wealth LLC now owns 453 shares of the asset manager’s stock valued at $44,000 after acquiring an additional 429 shares during the last quarter. Institutional investors own 73.39% of the company’s stock.

Insider Buying and Selling at T. Rowe Price Group

In related news, Director Robert F. Maclellan sold 3,090 shares of the firm’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 trade represents a 6.13% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 2.00% of the company’s stock.

T. Rowe Price Group Stock Performance

TROW opened at $102.66 on Monday. The stock’s 50 day moving average price is $104.45 and its 200-day moving average price is $100.89. The stock has a market capitalization of $22.40 billion, a PE ratio of 11.47, a price-to-earnings-growth ratio of 5.61 and a beta of 1.51. 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 announced its earnings results on Friday, October 31st. The asset manager reported $2.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.55 by $0.26. The firm had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.88 billion. T. Rowe Price Group had a return on equity of 19.77% and a net margin of 28.72%.The business’s revenue was up 6.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.57 EPS. Research analysts forecast that T. Rowe Price Group, Inc. will post 9.29 EPS for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 30th. Investors of record on Monday, December 15th will be paid a $1.27 dividend. This represents a $5.08 annualized dividend and a dividend yield of 4.9%. The ex-dividend date is Monday, December 15th. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 55.34%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on TROW. The Goldman Sachs Group lifted their price objective on T. Rowe Price Group from $93.00 to $98.00 in a report on Monday, November 3rd. Barclays set a $101.00 target price on T. Rowe Price Group in a report on Monday, November 3rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of T. Rowe Price Group in a report on Wednesday, October 8th. Citigroup raised their price target on T. Rowe Price Group from $105.00 to $107.00 in a report on Monday, November 3rd. Finally, Keefe, Bruyette & Woods lifted their price target on T. Rowe Price Group from $115.00 to $117.00 and gave the company a “market perform” rating in a research report on Monday, November 3rd. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Reduce” and an average price target of $109.31.

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.