Pacer Advisors Inc. Sells 6,492 Shares of T. Rowe Price Group, Inc. $TROW

Pacer Advisors Inc. decreased its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 32.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,694 shares of the asset manager’s stock after selling 6,492 shares during the quarter. Pacer Advisors Inc.’s holdings in T. Rowe Price Group were worth $1,234,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the stock. Parallel Advisors LLC raised its stake in T. Rowe Price Group by 63.2% during the first quarter. Parallel Advisors LLC now owns 8,415 shares of the asset manager’s stock worth $759,000 after acquiring an additional 3,260 shares in the last quarter. Concorde Asset Management LLC boosted its stake in shares of T. Rowe Price Group by 3.9% in the 1st quarter. Concorde Asset Management LLC now owns 2,730 shares of the asset manager’s stock valued at $246,000 after purchasing an additional 102 shares in the last quarter. Axiom Investment Management LLC bought a new stake in shares of T. Rowe Price Group in the 1st quarter worth about $76,000. Segall Bryant & Hamill LLC acquired a new stake in shares of T. Rowe Price Group during the 1st quarter worth about $632,000. Finally, Bank of America Corp DE increased its position in shares of T. Rowe Price Group by 24.5% during the 1st quarter. Bank of America Corp DE now owns 1,298,516 shares of the asset manager’s stock worth $117,048,000 after purchasing an additional 255,905 shares in the last quarter. 73.39% of the stock is currently owned by institutional investors.

Insider Buying and Selling at T. Rowe Price Group

In related news, VP Stephon A. Jackson sold 3,000 shares of T. Rowe Price Group stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $102.56, for a total transaction of $307,680.00. Following the transaction, the vice president owned 83,883 shares of the company’s stock, valued at $8,603,040.48. This trade represents a 3.45% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.60% of the stock is owned by corporate insiders.

T. Rowe Price Group Price Performance

Shares of T. Rowe Price Group stock opened at $114.02 on Monday. T. Rowe Price Group, Inc. has a 12 month low of $85.22 and a 12 month high of $122.00. The business has a fifty day simple moving average of $112.81 and a 200 day simple moving average of $102.41. The stock has a market cap of $24.32 billion, a PE ratio of 11.44, a price-to-earnings-growth ratio of 4.44 and a beta of 1.47.

T. Rowe Price Group (NASDAQ:TROW) last released its earnings results on Friday, July 31st. The asset manager reported $2.57 earnings per share for the quarter, beating the consensus estimate of $2.52 by $0.05. T. Rowe Price Group had a return on equity of 20.91% and a net margin of 29.26%.The firm had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.89 billion. During the same quarter in the prior year, the firm posted $2.24 earnings per share. The company’s quarterly revenue was up 10.7% on a year-over-year basis. Analysts expect that T. Rowe Price Group, Inc. will post 10.13 EPS for the current fiscal year.

T. Rowe Price Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th will be given a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date is Tuesday, September 15th. T. Rowe Price Group’s dividend payout ratio (DPR) is currently 52.16%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on TROW shares. TD Cowen boosted their price target on shares of T. Rowe Price Group from $107.00 to $108.00 and gave the company a “hold” rating in a research report on Monday, August 3rd. Weiss Ratings raised T. Rowe Price Group from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, July 2nd. BMO Capital Markets increased their price target on T. Rowe Price Group from $110.00 to $120.00 and gave the stock a “market perform” rating in a research report on Monday, August 3rd. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $115.00 price target (down from $120.00) on shares of T. Rowe Price Group in a report on Monday, August 3rd. Finally, Zacks Research raised T. Rowe Price Group from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus target price of $105.92.

T. Rowe Price Group Company Profile

T. Rowe Price Group, Inc is a global investment management firm headquartered in Baltimore, Maryland, founded by Thomas Rowe Price Jr. in 1937. The company provides a broad range of investment products and services for individual investors, financial intermediaries, retirement plan sponsors and institutional clients. Its offerings are built around active investment management and in-house research across equity, fixed income and multi-asset strategies, reflecting a long history as a research-driven asset manager.

The firm’s product lineup includes mutual funds, separate accounts, collective investment trusts, target-date and target-risk funds, and managed account solutions, as well as services for defined contribution and defined benefit retirement plans.