Stephens Inc. AR Sells 51,243 Shares of T. Rowe Price Group, Inc. $TROW

Stephens Inc. AR cut its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 69.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 22,051 shares of the asset manager’s stock after selling 51,243 shares during the quarter. Stephens Inc. AR’s holdings in T. Rowe Price Group were worth $2,128,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Exchange Traded Concepts LLC lifted its position in shares of T. Rowe Price Group by 27.9% during the first quarter. Exchange Traded Concepts LLC now owns 971 shares of the asset manager’s stock worth $89,000 after purchasing an additional 212 shares during the last quarter. Wealthfront Advisers LLC lifted its position in shares of T. Rowe Price Group by 109.2% during the first quarter. Wealthfront Advisers LLC now owns 69,326 shares of the asset manager’s stock worth $6,369,000 after purchasing an additional 36,190 shares during the last quarter. Mather Group LLC. lifted its position in shares of T. Rowe Price Group by 11.9% during the first quarter. Mather Group LLC. now owns 135,571 shares of the asset manager’s stock worth $12,455,000 after purchasing an additional 14,371 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of T. Rowe Price Group by 12.8% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 213,769 shares of the asset manager’s stock worth $19,575,000 after purchasing an additional 24,323 shares during the last quarter. Finally, Alps Advisors Inc. lifted its position in shares of T. Rowe Price Group by 22.9% during the first quarter. Alps Advisors Inc. now owns 308,837 shares of the asset manager’s stock worth $28,373,000 after purchasing an additional 57,503 shares during the last quarter. 73.39% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Jefferies Financial Group lifted their target price on T. Rowe Price Group from $104.00 to $106.00 and gave the stock a “hold” rating in a research report on Tuesday, October 7th. Weiss Ratings reiterated a “hold (c)” rating on shares of T. Rowe Price Group in a research report on Wednesday, October 8th. Evercore ISI lifted their price objective on T. Rowe Price Group from $115.00 to $118.00 and gave the company an “in-line” rating in a report on Thursday, October 9th. Bank of America lifted their price objective 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. Finally, TD Cowen lifted their price objective 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 research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, ten have assigned a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Reduce” and an average target price of $107.54.

T. Rowe Price Group Price Performance

TROW stock opened at $102.76 on Thursday. The business has a 50-day moving average price of $105.55 and a 200 day moving average price of $99.18. 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 $22.58 billion, a P/E ratio of 11.48, a PEG ratio of 5.72 and a beta of 1.50.

T. Rowe Price Group (NASDAQ:TROW) last announced its earnings results on Friday, August 1st. The asset manager reported $2.24 EPS for the quarter, topping analysts’ consensus estimates of $2.15 by $0.09. The business had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.72 billion. T. Rowe Price Group had a net margin of 28.72% and a return on equity of 19.77%. The firm’s revenue was down .6% on a year-over-year basis. During the same period in the previous year, the company posted $2.26 earnings per share. 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 company also recently announced a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Monday, September 15th were issued a $1.27 dividend. The ex-dividend date was Monday, September 15th. This represents a $5.08 dividend on an annualized basis and a yield of 4.9%. T. Rowe Price Group’s payout ratio is currently 56.76%.

Insider Buying and Selling

In other T. Rowe Price Group news, Director Robert F. Maclellan sold 3,090 shares of the business’s stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $105.01, for a total value of $324,480.90. Following the completion of the transaction, the director directly owned 47,335 shares in the company, valued at approximately $4,970,648.35. The trade was a 6.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 2.00% of the company’s stock.

About T. Rowe Price Group

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.