Chevy Chase Trust Holdings LLC Sells 391 Shares of T. Rowe Price Group, Inc. $TROW

Chevy Chase Trust Holdings LLC reduced its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 0.3% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 122,814 shares of the asset manager’s stock after selling 391 shares during the quarter. Chevy Chase Trust Holdings LLC owned approximately 0.06% of T. Rowe Price Group worth $11,852,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Zions Bancorporation National Association UT acquired a new stake in shares of T. Rowe Price Group in the 1st quarter valued at approximately $27,000. Hexagon Capital Partners LLC boosted its holdings 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 valued at $34,000 after buying an additional 113 shares during the last quarter. Smallwood Wealth Investment Management LLC acquired a new stake in shares of T. Rowe Price Group in the 1st quarter valued at approximately $39,000. Chilton Capital Management LLC acquired a new stake in shares of T. Rowe Price Group in the 1st quarter valued at approximately $41,000. Finally, Cromwell Holdings LLC boosted its holdings 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 valued at $41,000 after buying an additional 418 shares during the last quarter. 73.39% of the stock is owned by institutional investors.

Insider Buying and Selling at T. Rowe Price Group

In other news, Director Robert F. Maclellan sold 3,090 shares of T. Rowe Price Group stock in a transaction 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 sale, the director owned 47,335 shares of the company’s stock, valued at approximately $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 Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.60% of the company’s stock.

T. Rowe Price Group Stock Performance

TROW opened at $103.70 on Monday. T. Rowe Price Group, Inc. has a fifty-two week low of $77.85 and a fifty-two week high of $125.81. The company has a market capitalization of $22.78 billion, a P/E ratio of 11.59, a P/E/G ratio of 5.69 and a beta of 1.50. The stock has a fifty day moving average of $105.78 and a 200-day moving average of $98.96.

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

T. Rowe Price Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Monday, September 15th were issued 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 dividend yield of 4.9%. T. Rowe Price Group’s dividend payout ratio (DPR) is currently 56.76%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on TROW shares. The Goldman Sachs Group increased their price objective on T. Rowe Price Group from $91.00 to $92.00 and gave the company a “sell” rating in a report on Friday, October 3rd. Bank of America increased their price objective on T. Rowe Price Group from $91.00 to $97.00 and gave the company an “underperform” rating in a report on Thursday, October 2nd. Wells Fargo & Company raised their price target on T. Rowe Price Group from $98.00 to $108.00 and gave the company an “equal weight” rating in a report on Friday, July 11th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of T. Rowe Price Group in a report on Wednesday, October 8th. Finally, Jefferies Financial Group raised their price target on T. Rowe Price Group from $104.00 to $106.00 and gave the company a “hold” rating in a report on Tuesday, October 7th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, ten have assigned a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Reduce” and a consensus price target of $106.92.

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.