Hartford Investment Management Co. Reduces Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Hartford Investment Management Co. reduced its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 2.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,991 shares of the asset manager’s stock after selling 331 shares during the quarter. Hartford Investment Management Co.’s holdings in T. Rowe Price Group were worth $1,524,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in TROW. Lynx Investment Advisory bought a new position in shares of T. Rowe Price Group in the second quarter worth about $29,000. Hexagon Capital Partners LLC grew its stake in T. Rowe Price Group by 54.7% in the 3rd quarter. Hexagon Capital Partners LLC now owns 294 shares of the asset manager’s stock worth $32,000 after acquiring an additional 104 shares in the last quarter. Family Firm Inc. purchased a new position in shares of T. Rowe Price Group during the second quarter worth approximately $36,000. Versant Capital Management Inc raised its stake in shares of T. Rowe Price Group by 660.5% during the second quarter. Versant Capital Management Inc now owns 327 shares of the asset manager’s stock valued at $38,000 after acquiring an additional 284 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of T. Rowe Price Group by 93.6% in the first quarter. EverSource Wealth Advisors LLC now owns 331 shares of the asset manager’s stock valued at $40,000 after purchasing an additional 160 shares during the period. Institutional investors own 73.39% of the company’s stock.

T. Rowe Price Group Stock Performance

NASDAQ:TROW opened at $111.33 on Friday. The stock has a market capitalization of $24.86 billion, a P/E ratio of 13.22, a P/E/G ratio of 1.86 and a beta of 1.41. The company’s 50-day simple moving average is $108.02 and its 200-day simple moving average is $111.90. T. Rowe Price Group, Inc. has a fifty-two week low of $87.43 and a fifty-two week high of $122.27.

T. Rowe Price Group (NASDAQ:TROW) last announced its earnings results on Friday, July 26th. The asset manager reported $2.26 earnings per share for the quarter, missing the consensus estimate of $2.27 by ($0.01). The firm had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.79 billion. T. Rowe Price Group had a net margin of 28.66% and a return on equity of 19.90%. T. Rowe Price Group’s revenue was up 7.6% on a year-over-year basis. During the same quarter last year, the business earned $2.02 earnings per share. On average, research analysts forecast that T. Rowe Price Group, Inc. will post 9.09 EPS for the current year.

T. Rowe Price Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were given a $1.24 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 4.46%. T. Rowe Price Group’s payout ratio is 58.91%.

Wall Street Analyst Weigh In

Several research analysts have commented on TROW shares. TD Cowen reduced their price objective on T. Rowe Price Group from $123.00 to $118.00 and set a “hold” rating on the stock in a report on Monday, July 29th. The Goldman Sachs Group cut their price target on T. Rowe Price Group from $106.00 to $102.00 and set a “sell” rating on the stock in a research note on Thursday, October 3rd. Barclays lifted their price objective on T. Rowe Price Group from $99.00 to $101.00 and gave the company an “underweight” rating in a report on Monday, October 14th. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $120.00 target price (down from $121.00) on shares of T. Rowe Price Group in a report on Monday, July 29th. Finally, Morgan Stanley raised their target price on shares of T. Rowe Price Group from $125.00 to $127.00 and gave the company an “equal weight” rating in a research report on Friday, October 18th. Four equities research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. According to MarketBeat.com, T. Rowe Price Group presently has an average rating of “Hold” and an average price target of $113.00.

Insider Transactions at T. Rowe Price Group

In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $102.83, for a total value of $1,230,772.27. Following the completion of the sale, the vice president now directly owns 123,624 shares in the company, valued at approximately $12,712,255.92. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, insider Jessica M. Hiebler sold 484 shares of the company’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $104.73, for a total value of $50,689.32. Following the transaction, the insider now directly owns 13,939 shares of the company’s stock, valued at $1,459,831.47. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $102.83, for a total value of $1,230,772.27. Following the completion of the transaction, the vice president now owns 123,624 shares of the company’s stock, valued at $12,712,255.92. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

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.