Checchi Capital Advisers LLC Decreases Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Checchi Capital Advisers LLC lessened its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 8.4% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,450 shares of the asset manager’s stock after selling 225 shares during the quarter. Checchi Capital Advisers LLC’s holdings in T. Rowe Price Group were worth $274,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Financial Gravity Asset Management Inc. purchased a new position in T. Rowe Price Group in the 2nd quarter worth $97,000. Park Place Capital Corp raised its position in T. Rowe Price Group by 1,875.0% in the 2nd quarter. Park Place Capital Corp now owns 316 shares of the asset manager’s stock worth $35,000 after purchasing an additional 300 shares during the period. Glass Jacobson Investment Advisors llc purchased a new position in T. Rowe Price Group in the 2nd quarter worth $38,000. Beacon Capital Management LLC raised its position in T. Rowe Price Group by 34.7% in the 2nd quarter. Beacon Capital Management LLC now owns 338 shares of the asset manager’s stock worth $38,000 after purchasing an additional 87 shares during the period. Finally, Sunbelt Securities Inc. purchased a new position in T. Rowe Price Group in the 1st quarter worth $42,000. Hedge funds and other institutional investors own 75.85% of the company’s stock.

Insider Transactions at T. Rowe Price Group

In related news, insider William J. Stromberg sold 10,000 shares of the stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $98.48, for a total transaction of $984,800.00. Following the sale, the insider now directly owns 49,000 shares of the company’s stock, valued at approximately $4,825,520. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other T. Rowe Price Group news, VP Andrew C. Mccormick sold 5,040 shares of T. Rowe Price Group stock in a transaction on Wednesday, September 27th. The stock was sold at an average price of $103.63, for a total value of $522,295.20. Following the completion of the sale, the vice president now owns 64,440 shares of the company’s stock, valued at approximately $6,677,917.20. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider William J. Stromberg sold 10,000 shares of the company’s stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $98.48, for a total value of $984,800.00. Following the transaction, the insider now directly owns 49,000 shares in the company, valued at $4,825,520. The disclosure for this sale can be found here. Insiders sold a total of 27,039 shares of company stock valued at $2,848,848 in the last quarter. 2.10% of the stock is owned by insiders.

T. Rowe Price Group Stock Performance

Shares of TROW opened at $97.79 on Friday. T. Rowe Price Group, Inc. has a fifty-two week low of $87.43 and a fifty-two week high of $132.76. The firm’s 50-day simple moving average is $100.22 and its two-hundred day simple moving average is $107.66. The stock has a market cap of $21.85 billion, a PE ratio of 13.93, a price-to-earnings-growth ratio of 2.21 and a beta of 1.32.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings results on Friday, October 27th. The asset manager reported $2.17 earnings per share for the quarter, topping the consensus estimate of $1.78 by $0.39. The company had revenue of $1.67 billion for the quarter, compared to the consensus estimate of $1.65 billion. T. Rowe Price Group had a return on equity of 18.79% and a net margin of 25.50%. The firm’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.86 EPS. Equities research analysts predict that T. Rowe Price Group, Inc. will post 7.36 EPS for the current year.

T. Rowe Price Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be issued a dividend of $1.22 per share. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $4.88 annualized dividend and a dividend yield of 4.99%. T. Rowe Price Group’s payout ratio is presently 69.52%.

Wall Street Analyst Weigh In

TROW has been the topic of a number of analyst reports. Citigroup upgraded shares of T. Rowe Price Group from a “sell” rating to a “neutral” rating and decreased their price objective for the company from $100.00 to $95.00 in a research report on Tuesday, October 31st. Morgan Stanley decreased their price objective on shares of T. Rowe Price Group from $109.00 to $101.00 and set an “equal weight” rating on the stock in a research report on Monday, October 30th. Wells Fargo & Company boosted their price objective on shares of T. Rowe Price Group from $117.00 to $123.00 and gave the company an “equal weight” rating in a research report on Monday, July 31st. UBS Group boosted their price objective on shares of T. Rowe Price Group from $83.00 to $90.00 and gave the company a “sell” rating in a research report on Monday, July 31st. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on shares of T. Rowe Price Group from $113.00 to $110.00 and set a “hold” rating on the stock in a research report on Wednesday, October 11th. Five equities research analysts have rated the stock with a sell rating and seven have issued a hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $94.45.

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.