Whittier Trust Co. Cuts Stock Holdings in T. Rowe Price Group, Inc. $TROW

Whittier Trust Co. lowered its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 23.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,305 shares of the asset manager’s stock after selling 400 shares during the quarter. Whittier Trust Co.’s holdings in T. Rowe Price Group were worth $126,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Zions Bancorporation National Association UT purchased a new stake in shares of T. Rowe Price Group during the first quarter worth $27,000. Hexagon Capital Partners LLC increased its position in shares of 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 acquiring an additional 113 shares during the period. Smallwood Wealth Investment Management LLC purchased a new stake in shares of T. Rowe Price Group during the first quarter worth $39,000. Cromwell Holdings LLC increased its holdings in T. Rowe Price Group by 3,483.3% in the second 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. Finally, Chilton Capital Management LLC purchased a new position in T. Rowe Price Group in the first quarter valued at $41,000. Hedge funds and other institutional investors own 73.39% of the company’s stock.

Insider Buying and Selling at T. Rowe Price Group

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 completion of the sale, the director owned 47,335 shares in the company, valued at approximately $4,970,648.35. This represents a 6.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Deutsche Bank Aktiengesellschaft increased their target price on T. Rowe Price Group from $109.00 to $114.00 and gave the company a “hold” rating in a report on Thursday, October 9th. Bank of America increased their target price 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. Morgan Stanley increased their target price on T. Rowe Price Group from $116.00 to $125.00 and gave the company a “positive” rating in a report on Monday, October 6th. JPMorgan Chase & Co. increased their target price on T. Rowe Price Group from $102.00 to $109.00 and gave the company an “underweight” rating in a report on Wednesday, October 15th. Finally, TD Cowen increased their target price on T. Rowe Price Group from $103.00 to $108.00 and gave the company a “hold” rating in a report on Wednesday, October 8th. 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 issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Reduce” and an average target price of $107.54.

T. Rowe Price Group Price Performance

NASDAQ TROW opened at $103.55 on Friday. T. Rowe Price Group, Inc. has a 1 year low of $77.85 and a 1 year high of $125.81. The company has a market capitalization of $22.75 billion, a PE ratio of 11.57, a P/E/G ratio of 5.62 and a beta of 1.50. The company has a fifty day moving average of $105.34 and a two-hundred day moving average of $99.48.

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. T. Rowe Price Group had a net margin of 28.72% and a return on equity of 19.77%. The company had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.72 billion. During the same quarter in the prior year, the firm posted $2.26 earnings per share. T. Rowe Price Group’s revenue for the quarter was down .6% on a year-over-year basis. On average, 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 firm also recently announced a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Monday, September 15th were paid a dividend of $1.27 per share. The ex-dividend date was Monday, September 15th. This represents a $5.08 annualized dividend and a dividend yield of 4.9%. 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.