Sachetta LLC Cuts Stock Position in T. Rowe Price Group, Inc. $TROW

Sachetta LLC lessened its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 39.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,051 shares of the asset manager’s stock after selling 674 shares during the quarter. Sachetta LLC’s holdings in T. Rowe Price Group were worth $101,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Zions Bancorporation National Association UT purchased a new stake in shares of T. Rowe Price Group in the 1st quarter valued at $27,000. Hexagon Capital Partners LLC raised its holdings 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 valued at $34,000 after buying an additional 113 shares during the period. Smallwood Wealth Investment Management LLC purchased a new stake in shares of T. Rowe Price Group in the 1st quarter valued at $39,000. Chilton Capital Management LLC purchased a new stake in shares of T. Rowe Price Group in the 1st quarter valued at $41,000. Finally, Cromwell Holdings LLC raised its holdings 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 valued at $41,000 after buying an additional 418 shares during the period. Hedge funds and other institutional investors own 73.39% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on TROW. Zacks Research downgraded T. Rowe Price Group from a “strong-buy” rating to a “hold” rating in a report on Monday, September 8th. JPMorgan Chase & Co. boosted their price objective on T. Rowe Price Group from $98.00 to $102.00 and gave the company an “underweight” rating in a report on Monday, August 4th. Weiss Ratings reissued a “hold (c)” rating on shares of T. Rowe Price Group in a research note on Saturday, September 27th. The Goldman Sachs Group upped their price target on T. Rowe Price Group from $91.00 to $92.00 and gave the stock a “sell” rating in a report on Friday. Finally, Wells Fargo & Company upped their price target on T. Rowe Price Group from $98.00 to $108.00 and gave the stock an “equal weight” rating in a report on Friday, July 11th. Two equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average price target of $104.83.

Insider Activity

In other news, Director Robert F. Maclellan sold 3,090 shares of the company’s stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $105.01, for a total transaction of $324,480.90. Following the completion of the transaction, the director directly owned 47,335 shares of the company’s stock, valued at approximately $4,970,648.35. This represents a 6.13% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 1.60% of the company’s stock.

T. Rowe Price Group Price Performance

Shares of NASDAQ TROW opened at $105.69 on Tuesday. The stock’s 50-day moving average is $105.71 and its two-hundred day moving average is $98.22. 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 cap of $23.22 billion, a price-to-earnings ratio of 11.81, a price-to-earnings-growth ratio of 6.68 and a beta of 1.50.

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 the consensus estimate of $2.15 by $0.09. The business had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.72 billion. T. Rowe Price Group had a return on equity of 19.77% and a net margin of 28.72%.The business’s quarterly revenue was down .6% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.26 EPS. Equities research 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 firm 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 annualized dividend and a dividend yield of 4.8%. The ex-dividend date of this dividend was Monday, September 15th. T. Rowe Price Group’s dividend payout ratio is currently 56.76%.

T. Rowe Price Group Company 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.