T. Rowe Price Group, Inc. $TROW Shares Sold by Cushing Capital Partners LLC

Cushing Capital Partners LLC lessened its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 13.9% in the second quarter, according to its most recent filing with the SEC. The firm owned 7,107 shares of the asset manager’s stock after selling 1,151 shares during the quarter. Cushing Capital Partners LLC’s holdings in T. Rowe Price Group were worth $686,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Invesco Ltd. raised its position in T. Rowe Price Group by 43.2% during the first quarter. Invesco Ltd. now owns 3,433,684 shares of the asset manager’s stock valued at $315,453,000 after buying an additional 1,035,865 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of T. Rowe Price Group by 7.2% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 7,706,251 shares of the asset manager’s stock worth $707,973,000 after acquiring an additional 519,075 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of T. Rowe Price Group by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 26,286,393 shares of the asset manager’s stock worth $2,414,931,000 after acquiring an additional 222,556 shares in the last quarter. Vest Financial LLC boosted its stake in shares of T. Rowe Price Group by 31.1% during the 2nd quarter. Vest Financial LLC now owns 616,351 shares of the asset manager’s stock worth $59,478,000 after acquiring an additional 146,382 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of T. Rowe Price Group by 505.5% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 172,709 shares of the asset manager’s stock worth $15,867,000 after acquiring an additional 144,187 shares in the last quarter. Institutional investors and hedge funds own 73.39% of the company’s stock.

Analysts Set New Price Targets

TROW has been the subject of several recent analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of T. Rowe Price Group in a research note on Wednesday, October 8th. Barclays restated an “underweight” rating and set a $95.00 target price (up previously from $91.00) on shares of T. Rowe Price Group in a research note on Monday, August 4th. 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 research note on Wednesday. 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 research note on Wednesday, October 8th. Finally, Wells Fargo & Company raised their price objective on T. Rowe Price Group from $98.00 to $108.00 and gave the stock an “equal weight” rating in a research report on Friday, July 11th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, ten have assigned a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Reduce” and a consensus target price of $106.92.

Insiders Place Their Bets

In related news, Director Robert F. Maclellan sold 3,090 shares of the firm’s stock in a transaction on 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 sale, the director directly owned 47,335 shares of the company’s stock, valued at $4,970,648.35. This trade represents a 6.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.00% of the stock is owned by corporate insiders.

T. Rowe Price Group Trading Down 0.4%

Shares of TROW opened at $105.71 on Thursday. T. Rowe Price Group, Inc. has a 1 year low of $77.85 and a 1 year high of $125.81. The stock has a 50 day simple moving average of $105.82 and a 200-day simple moving average of $98.68. The stock has a market cap of $23.23 billion, a PE ratio of 11.81, a PEG ratio of 5.85 and a beta of 1.50.

T. Rowe Price Group (NASDAQ:TROW) last issued its earnings results 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. T. Rowe Price Group had a return on equity of 19.77% and a net margin of 28.72%.The business had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.72 billion. During the same period in the prior year, the firm posted $2.26 EPS. T. Rowe Price Group’s quarterly revenue was down .6% compared to the same quarter last year. On average, sell-side analysts forecast that T. Rowe Price Group, Inc. will post 9.29 EPS for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Monday, September 15th were issued a dividend of $1.27 per share. This represents a $5.08 dividend on an annualized basis and a yield of 4.8%. The ex-dividend date of this dividend was Monday, September 15th. T. Rowe Price Group’s dividend payout ratio (DPR) 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.