Woodstock Corp Lowers Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Woodstock Corp cut its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 18.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,445 shares of the asset manager’s stock after selling 550 shares during the quarter. Woodstock Corp’s holdings in T. Rowe Price Group were worth $274,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of TROW. Elevated Capital Advisors LLC increased its position in shares of T. Rowe Price Group by 2.1% during the first quarter. Elevated Capital Advisors LLC now owns 4,405 shares of the asset manager’s stock valued at $497,000 after acquiring an additional 90 shares during the last quarter. Deseret Mutual Benefit Administrators increased its position in shares of T. Rowe Price Group by 3.4% during the first quarter. Deseret Mutual Benefit Administrators now owns 2,935 shares of the asset manager’s stock valued at $331,000 after acquiring an additional 97 shares during the last quarter. Cullinan Associates Inc. increased its position in shares of T. Rowe Price Group by 1.8% during the first quarter. Cullinan Associates Inc. now owns 5,695 shares of the asset manager’s stock valued at $643,000 after acquiring an additional 100 shares during the last quarter. Insight Folios Inc increased its position in shares of T. Rowe Price Group by 4.1% during the first quarter. Insight Folios Inc now owns 2,545 shares of the asset manager’s stock valued at $287,000 after acquiring an additional 100 shares during the last quarter. Finally, Key Financial Inc increased its position in shares of T. Rowe Price Group by 7.3% during the first quarter. Key Financial Inc now owns 1,474 shares of the asset manager’s stock valued at $166,000 after acquiring an additional 100 shares during the last quarter. 75.85% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at T. Rowe Price Group

In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the firm’s stock in a transaction dated Wednesday, August 30th. The stock was sold at an average price of $111.82, for a total transaction of $1,338,373.58. Following the sale, the vice president now owns 129,436 shares in the company, valued at $14,473,533.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.10% of the stock is owned by corporate insiders.

T. Rowe Price Group Stock Down 0.3 %

NASDAQ:TROW traded down $0.30 during trading hours on Friday, hitting $109.75. 279,753 shares of the company’s stock traded hands, compared to its average volume of 1,488,758. The firm has a market cap of $24.62 billion, a P/E ratio of 16.39, a P/E/G ratio of 3.27 and a beta of 1.32. T. Rowe Price Group, Inc. has a 52 week low of $93.53 and a 52 week high of $134.64. The business’s fifty day simple moving average is $114.06 and its two-hundred day simple moving average is $111.22.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings data on Friday, July 28th. The asset manager reported $2.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.73 by $0.29. The company had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.60 billion. T. Rowe Price Group had a return on equity of 18.30% and a net margin of 24.73%. The firm’s quarterly revenue was up 6.4% on a year-over-year basis. During the same quarter last year, the company earned $1.79 earnings per share. On average, analysts expect that T. Rowe Price Group, Inc. will post 7.29 EPS for the current year.

T. Rowe Price Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 28th. Investors of record on Friday, September 15th will be paid a dividend of $1.22 per share. This represents a $4.88 annualized dividend and a yield of 4.45%. The ex-dividend date is Thursday, September 14th. T. Rowe Price Group’s dividend payout ratio is 72.73%.

Analyst Ratings Changes

A number of analysts recently commented on TROW shares. Morgan Stanley increased their price target on T. Rowe Price Group from $108.00 to $118.00 and gave the company an “equal weight” rating in a research report on Monday, July 31st. The Goldman Sachs Group increased their price objective on T. Rowe Price Group from $89.50 to $100.00 and gave the company a “sell” rating in a report on Monday, July 31st. UBS Group increased their price objective on T. Rowe Price Group from $83.00 to $90.00 and gave the company a “sell” rating in a report on Monday, July 31st. StockNews.com assumed coverage on T. Rowe Price Group in a report on Thursday, August 17th. They set a “hold” rating for the company. Finally, Citigroup raised their price target on T. Rowe Price Group from $98.00 to $100.00 and gave the stock a “sell” rating in a report on Friday, July 14th. Six equities research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. Based on data from MarketBeat, T. Rowe Price Group has a consensus rating of “Hold” and an average price target of $96.73.

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.