SVB Wealth LLC Reduces Position in T. Rowe Price Group, Inc. $TROW

SVB Wealth LLC decreased its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 16.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 40,142 shares of the asset manager’s stock after selling 7,932 shares during the period. SVB Wealth LLC’s holdings in T. Rowe Price Group were worth $4,564,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Woodline Partners LP grew its position in shares of T. Rowe Price Group by 41.0% in the first quarter. Woodline Partners LP now owns 18,809 shares of the asset manager’s stock valued at $1,728,000 after purchasing an additional 5,467 shares in the last quarter. Focus Partners Wealth boosted its stake in T. Rowe Price Group by 10.6% in the 1st quarter. Focus Partners Wealth now owns 13,054 shares of the asset manager’s stock worth $1,199,000 after purchasing an additional 1,250 shares during the period. EverSource Wealth Advisors LLC boosted its stake in T. Rowe Price Group by 44.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,546 shares of the asset manager’s stock worth $149,000 after purchasing an additional 478 shares during the period. Jump Financial LLC bought a new stake in shares of T. Rowe Price Group during the second quarter valued at about $931,000. Finally, Daiwa Securities Group Inc. increased its holdings in T. Rowe Price Group by 5.4% during the 2nd quarter. Daiwa Securities Group Inc. now owns 33,245 shares of the asset manager’s stock worth $3,208,000 after acquiring an additional 1,703 shares during the period. 73.39% of the stock is currently owned by hedge funds and other institutional investors.

T. Rowe Price Group Stock Down 0.3%

NASDAQ TROW opened at $109.42 on Wednesday. The firm has a market capitalization of $23.34 billion, a PE ratio of 10.97, a P/E/G ratio of 3.63 and a beta of 1.46. The stock’s 50 day moving average is $114.46 and its 200 day moving average is $104.17. T. Rowe Price Group, Inc. has a twelve month low of $85.22 and a twelve month high of $122.00.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings data on Friday, July 31st. The asset manager reported $2.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.52 by $0.05. T. Rowe Price Group had a return on equity of 20.91% and a net margin of 29.26%.The business had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.89 billion. During the same quarter in the prior year, the company earned $2.24 earnings per share. The firm’s quarterly revenue was up 10.7% compared to the same quarter last year. On average, research analysts anticipate that T. Rowe Price Group, Inc. will post 10.16 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th will be given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 4.8%. The ex-dividend date of this dividend is Tuesday, September 15th. T. Rowe Price Group’s dividend payout ratio (DPR) is 52.16%.

Insider Buying and Selling

In other T. Rowe Price Group news, VP Joshua Nelson sold 10,000 shares of the company’s stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $111.82, for a total value of $1,118,200.00. Following the sale, the vice president owned 71,328 shares in the company, valued at approximately $7,975,896.96. This represents a 12.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.60% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Weiss Ratings raised T. Rowe Price Group from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday. UBS Group set a $110.00 price target on T. Rowe Price Group in a research report on Monday, August 31st. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $109.00 price objective on shares of T. Rowe Price Group in a research report on Monday, August 3rd. The Goldman Sachs Group increased their target price on shares of T. Rowe Price Group from $90.00 to $92.00 and gave the stock a “sell” rating in a report on Tuesday, June 30th. Finally, Keefe, Bruyette & Woods restated a “market perform” rating and set a $115.00 price target (down from $120.00) on shares of T. Rowe Price Group in a report on Monday, August 3rd. One investment analyst has rated the stock with a Buy rating, nine have given a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average target price of $106.15.

T. Rowe Price Group Company Profile

T. Rowe Price Group, Inc is a global investment management firm headquartered in Baltimore, Maryland, founded by Thomas Rowe Price Jr. in 1937. The company provides a broad range of investment products and services for individual investors, financial intermediaries, retirement plan sponsors and institutional clients. Its offerings are built around active investment management and in-house research across equity, fixed income and multi-asset strategies, reflecting a long history as a research-driven asset manager.

The firm’s product lineup includes mutual funds, separate accounts, collective investment trusts, target-date and target-risk funds, and managed account solutions, as well as services for defined contribution and defined benefit retirement plans.