Northeast Investment Management Has $9.40 Million Stock Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Northeast Investment Management cut its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 0.8% in the second quarter, Holdings Channel reports. The institutional investor owned 81,479 shares of the asset manager’s stock after selling 670 shares during the quarter. Northeast Investment Management’s holdings in T. Rowe Price Group were worth $9,395,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. Lynx Investment Advisory bought a new stake in shares of T. Rowe Price Group in the second quarter valued at about $29,000. First United Bank & Trust bought a new position in T. Rowe Price Group during the fourth quarter valued at about $31,000. Family Firm Inc. acquired a new position in T. Rowe Price Group in the 2nd quarter valued at approximately $36,000. Versant Capital Management Inc lifted its position in shares of T. Rowe Price Group by 660.5% in the 2nd quarter. Versant Capital Management Inc now owns 327 shares of the asset manager’s stock worth $38,000 after acquiring an additional 284 shares during the period. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of T. Rowe Price Group by 93.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 331 shares of the asset manager’s stock worth $40,000 after purchasing an additional 160 shares in the last quarter. 73.39% of the stock is owned by institutional investors.

T. Rowe Price Group Trading Down 0.4 %

Shares of TROW traded down $0.39 during trading hours on Wednesday, hitting $107.51. 750,973 shares of the stock traded hands, compared to its average volume of 1,267,486. T. Rowe Price Group, Inc. has a 1-year low of $87.43 and a 1-year high of $122.27. The firm has a market capitalization of $23.93 billion, a PE ratio of 12.77, a price-to-earnings-growth ratio of 1.74 and a beta of 1.42. The business has a fifty day moving average of $112.64 and a 200-day moving average of $113.94.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings results on Friday, July 26th. The asset manager reported $2.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.27 by ($0.01). The firm had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.79 billion. T. Rowe Price Group had a net margin of 28.66% and a return on equity of 19.90%. The company’s revenue was up 7.6% compared to the same quarter last year. During the same period last year, the company earned $2.02 EPS. As a group, equities research analysts expect that T. Rowe Price Group, Inc. will post 9 earnings per share for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be issued a $1.24 dividend. The ex-dividend date is Friday, September 13th. This represents a $4.96 dividend on an annualized basis and a yield of 4.61%. T. Rowe Price Group’s dividend payout ratio is presently 58.91%.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Evercore ISI cut their target price on T. Rowe Price Group from $110.00 to $107.00 and set an “in-line” rating for the company in a research note on Tuesday, April 30th. StockNews.com cut shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. JPMorgan Chase & Co. lifted their target price on shares of T. Rowe Price Group from $102.00 to $107.00 and gave the company an “underweight” rating in a research report on Tuesday, July 23rd. Barclays assumed coverage on shares of T. Rowe Price Group in a research note on Tuesday. They issued an “underweight” rating and a $99.00 target price on the stock. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the stock a “hold” rating in a research note on Thursday, August 15th. Four equities research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $113.10.

Insider Activity at T. Rowe Price Group

In other T. Rowe Price Group news, VP Dorothy C. Sawyer sold 2,000 shares of the stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $117.00, for a total value of $234,000.00. Following the completion of the sale, the vice president now directly owns 34,710 shares in the company, valued at $4,061,070. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 1,401 shares of the stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $115.85, for a total value of $162,305.85. Following the completion of the sale, the insider now directly owns 14,198 shares in the company, valued at $1,644,838.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Dorothy C. Sawyer sold 2,000 shares of the stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $117.00, for a total value of $234,000.00. Following the transaction, the vice president now owns 34,710 shares of the company’s stock, valued at $4,061,070. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by corporate insiders.

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.