Harbour Investments Inc. Sells 217 Shares of T. Rowe Price Group, Inc. $TROW

Harbour Investments Inc. reduced its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 21.4% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 795 shares of the asset manager’s stock after selling 217 shares during the period. Harbour Investments Inc.’s holdings in T. Rowe Price Group were worth $77,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in TROW. 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 grew 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 buying an additional 113 shares in the last quarter. Smallwood Wealth Investment Management LLC purchased a new position in shares of T. Rowe Price Group in the 1st quarter worth $39,000. Chilton Capital Management LLC purchased a new position in shares of T. Rowe Price Group in the 1st quarter worth $41,000. Finally, Cromwell Holdings LLC grew 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 buying an additional 418 shares in the last quarter. 73.39% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at T. Rowe Price Group

In other T. Rowe Price Group news, Director Robert F. Maclellan sold 3,090 shares of the business’s stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $105.01, for a total value of $324,480.90. Following the completion of the sale, the director directly owned 47,335 shares of the company’s stock, valued at $4,970,648.35. The trade was 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. 2.00% of the stock is currently owned by company insiders.

T. Rowe Price Group Price Performance

T. Rowe Price Group stock opened at $102.49 on Friday. The stock has a market cap of $22.52 billion, a price-to-earnings ratio of 11.45, a price-to-earnings-growth ratio of 5.63 and a beta of 1.50. T. Rowe Price Group, Inc. has a 1 year low of $77.85 and a 1 year high of $125.81. The firm has a 50-day moving average of $105.41 and a two-hundred day moving average of $99.32.

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

T. Rowe Price Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Monday, September 15th were given a $1.27 dividend. This represents a $5.08 annualized dividend and a yield of 5.0%. The ex-dividend date of this dividend was Monday, September 15th. T. Rowe Price Group’s payout ratio is 56.76%.

Analyst Ratings Changes

A number of equities analysts have commented on TROW shares. Jefferies Financial Group lifted 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 note on Tuesday, October 7th. Weiss Ratings reissued a “hold (c)” rating on shares of T. Rowe Price Group in a research note on Wednesday, October 8th. Bank of America lifted their price target on shares of T. Rowe Price Group from $91.00 to $97.00 and gave the stock an “underperform” rating in a research note on Thursday, October 2nd. The Goldman Sachs Group lifted their price target 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. Finally, Wells Fargo & Company lifted their price target 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. One investment 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 given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average target price of $107.54.

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.