Stratos Wealth Partners LTD. Sells 3,304 Shares of T. Rowe Price Group, Inc. $TROW

Stratos Wealth Partners LTD. reduced its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 47.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,723 shares of the asset manager’s stock after selling 3,304 shares during the period. Stratos Wealth Partners LTD.’s holdings in T. Rowe Price Group were worth $359,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in the stock. TFG Advisers LLC increased its holdings in T. Rowe Price Group by 3.6% in the second quarter. TFG Advisers LLC now owns 2,779 shares of the asset manager’s stock valued at $268,000 after purchasing an additional 97 shares during the period. Bill Few Associates Inc. increased its holdings in T. Rowe Price Group by 4.3% in the second quarter. Bill Few Associates Inc. now owns 2,577 shares of the asset manager’s stock valued at $249,000 after purchasing an additional 107 shares during the period. Cooper Financial Group increased its holdings in T. Rowe Price Group by 5.2% in the first quarter. Cooper Financial Group now owns 2,234 shares of the asset manager’s stock valued at $205,000 after purchasing an additional 110 shares during the period. Hexagon Capital Partners LLC increased its holdings in T. Rowe Price Group by 44.8% in the first quarter. Hexagon Capital Partners LLC now owns 365 shares of the asset manager’s stock valued at $34,000 after purchasing an additional 113 shares during the period. Finally, Associated Banc Corp increased its holdings in T. Rowe Price Group by 0.5% in the first quarter. Associated Banc Corp now owns 24,864 shares of the asset manager’s stock valued at $2,284,000 after purchasing an additional 114 shares during the period. 73.39% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Robert F. Maclellan sold 3,090 shares of the stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $105.01, for a total transaction of $324,480.90. Following the transaction, the director owned 47,335 shares of the company’s stock, valued at $4,970,648.35. This represents a 6.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.00% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on TROW shares. BMO Capital Markets started coverage on T. Rowe Price Group in a report on Friday, October 3rd. They issued a “market perform” rating and a $108.00 price objective for the company. Evercore ISI upped their price target on shares of T. Rowe Price Group from $115.00 to $118.00 and gave the company an “in-line” rating in a research report on Thursday, October 9th. Keefe, Bruyette & Woods upped their price target on shares of T. Rowe Price Group from $112.00 to $115.00 and gave the company a “hold” rating in a research report on Monday, October 13th. Barclays upped their price target on shares of T. Rowe Price Group from $95.00 to $103.00 and gave the company an “underweight” rating in a research report on Tuesday. Finally, TD Cowen upped their price target on shares of T. Rowe Price Group from $103.00 to $108.00 and gave the company a “hold” rating in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, ten have issued a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, T. Rowe Price Group currently has a consensus rating of “Reduce” and an average price target of $107.54.

T. Rowe Price Group Price Performance

TROW stock opened at $103.55 on Friday. The stock has a market capitalization of $22.75 billion, a PE ratio of 11.57, a price-to-earnings-growth ratio of 5.62 and a beta of 1.50. The company’s 50-day moving average is $105.34 and its 200-day moving average is $99.48. T. Rowe Price Group, Inc. has a 1 year low of $77.85 and a 1 year high of $125.81.

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, topping analysts’ consensus estimates of $2.15 by $0.09. The company had revenue of $1.72 billion for 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 business’s revenue was down .6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.26 EPS. On average, analysts anticipate that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Monday, September 15th were given a dividend of $1.27 per share. This represents a $5.08 dividend on an annualized basis and a dividend yield of 4.9%. The ex-dividend date of this dividend was Monday, September 15th. T. Rowe Price Group’s dividend payout ratio is 56.76%.

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.