Pacer Advisors Inc. Sells 6,384 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Pacer Advisors Inc. lowered its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 35.9% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,377 shares of the asset manager’s stock after selling 6,384 shares during the period. Pacer Advisors Inc.’s holdings in T. Rowe Price Group were worth $1,045,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Hexagon Capital Partners LLC grew its position in T. Rowe Price Group by 44.8% during the first 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 bought a new stake in shares of T. Rowe Price Group during the 1st quarter valued at $39,000. Chilton Capital Management LLC bought a new stake in shares of T. Rowe Price Group during the 1st quarter valued at $41,000. Ameriflex Group Inc. acquired a new stake in shares of T. Rowe Price Group during the 4th quarter worth $42,000. Finally, Wayfinding Financial LLC bought a new position in shares of T. Rowe Price Group in the first quarter worth $43,000. Institutional investors own 73.39% of the company’s stock.

T. Rowe Price Group Price Performance

Shares of T. Rowe Price Group stock opened at $103.90 on Thursday. The company’s 50 day moving average price is $98.04 and its two-hundred day moving average price is $98.54. The firm has a market capitalization of $22.89 billion, a P/E ratio of 11.78, a P/E/G ratio of 3.09 and a beta of 1.49. T. Rowe Price Group, Inc. has a fifty-two week low of $77.85 and a fifty-two week high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings data on Friday, May 2nd. The asset manager reported $2.23 earnings per share for the quarter, beating the consensus estimate of $2.13 by $0.10. T. Rowe Price Group had a return on equity of 20.17% and a net margin of 28.38%. The company had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.80 billion. During the same quarter last year, the business posted $2.38 EPS. T. Rowe Price Group’s revenue for the quarter was up .8% on a year-over-year basis. On average, 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 company also recently declared a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Friday, June 13th were issued a dividend of $1.27 per share. This represents a $5.08 annualized dividend and a dividend yield of 4.89%. The ex-dividend date of this dividend was Friday, June 13th. T. Rowe Price Group’s dividend payout ratio (DPR) is currently 57.60%.

Insider Activity at T. Rowe Price Group

In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 968 shares of the company’s stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $96.98, for a total value of $93,876.64. Following the completion of the transaction, the insider directly owned 13,611 shares in the company, valued at approximately $1,319,994.78. This represents a 6.64% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Dorothy C. Sawyer sold 2,000 shares of the firm’s stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $95.43, for a total transaction of $190,860.00. Following the transaction, the vice president directly owned 44,789 shares of the company’s stock, valued at $4,274,214.27. The trade was a 4.27% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Cowen reaffirmed a “hold” rating on shares of T. Rowe Price Group in a research report on Monday, May 5th. Evercore ISI dropped their target price on shares of T. Rowe Price Group from $104.00 to $80.00 and set an “in-line” rating for the company in a research report on Friday, April 11th. Barclays upped their price target on shares of T. Rowe Price Group from $90.00 to $91.00 and gave the stock an “underweight” rating in a report on Wednesday, July 16th. The Goldman Sachs Group reduced their price target on shares of T. Rowe Price Group from $89.00 to $80.00 and set a “sell” rating on the stock in a research report on Monday, April 14th. Finally, TD Cowen lowered their price objective on shares of T. Rowe Price Group from $112.00 to $89.00 and set a “hold” rating for the company in a research report on Wednesday, April 9th. Four investment analysts have rated the stock with a sell rating and nine have issued a hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $96.64.

T. Rowe Price Group 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.