Telos Capital Management Inc. Cuts Stock Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Telos Capital Management Inc. trimmed its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 0.4% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 101,259 shares of the asset manager’s stock after selling 442 shares during the quarter. T. Rowe Price Group comprises about 1.2% of Telos Capital Management Inc.’s investment portfolio, making the stock its 25th largest holding. Telos Capital Management Inc.’s holdings in T. Rowe Price Group were worth $11,030,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Ashton Thomas Private Wealth LLC purchased a new position in T. Rowe Price Group during the 1st quarter worth $1,008,000. Envestnet Portfolio Solutions Inc. increased its holdings in shares of T. Rowe Price Group by 52.4% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 65,534 shares of the asset manager’s stock valued at $7,990,000 after acquiring an additional 22,533 shares in the last quarter. Norden Group LLC purchased a new position in shares of T. Rowe Price Group in the 1st quarter valued at approximately $8,437,000. Forsta AP Fonden boosted its stake in T. Rowe Price Group by 32.3% in the 2nd quarter. Forsta AP Fonden now owns 70,100 shares of the asset manager’s stock worth $8,083,000 after purchasing an additional 17,100 shares in the last quarter. Finally, Mizuho Markets Americas LLC boosted its stake in T. Rowe Price Group by 90.0% in the 1st quarter. Mizuho Markets Americas LLC now owns 90,688 shares of the asset manager’s stock worth $11,057,000 after purchasing an additional 42,949 shares in the last quarter. 73.39% of the stock is currently owned by institutional investors.

T. Rowe Price Group Trading Down 1.4 %

TROW stock opened at $114.01 on Tuesday. The business’s 50-day moving average is $107.73 and its 200 day moving average is $111.95. The stock has a market cap of $25.46 billion, a price-to-earnings ratio of 13.54, a PEG ratio of 1.93 and a beta of 1.41. T. Rowe Price Group, Inc. has a 12-month low of $87.43 and a 12-month high of $122.27.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings data on Friday, July 26th. The asset manager reported $2.26 EPS for the quarter, missing the consensus estimate of $2.27 by ($0.01). T. Rowe Price Group had a net margin of 28.66% and a return on equity of 19.90%. The firm had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.79 billion. During the same period in the prior year, the company posted $2.02 earnings per share. The firm’s revenue for the quarter was up 7.6% compared to the same quarter last year. As a group, equities analysts forecast that T. Rowe Price Group, Inc. will post 9.08 EPS for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were given a dividend of $1.24 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $4.96 dividend on an annualized basis and a yield of 4.35%. T. Rowe Price Group’s payout ratio is presently 58.91%.

Insider Activity at T. Rowe Price Group

In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 484 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $104.73, for a total value of $50,689.32. Following the transaction, the insider now directly owns 13,939 shares of the company’s stock, valued at $1,459,831.47. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the company’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $102.83, for a total value of $1,230,772.27. Following the completion of the sale, the vice president now directly owns 123,624 shares in the company, valued at $12,712,255.92. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jessica M. Hiebler sold 484 shares of the firm’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $104.73, for a total value of $50,689.32. Following the completion of the sale, the insider now directly owns 13,939 shares of the company’s stock, valued at $1,459,831.47. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Evercore ISI upped their target price on T. Rowe Price Group from $108.00 to $109.00 and gave the company an “in-line” rating in a research report on Friday, October 4th. Barclays boosted their target price on shares of T. Rowe Price Group from $99.00 to $101.00 and gave the company an “underweight” rating in a research note on Monday, October 14th. The Goldman Sachs Group decreased their price objective on shares of T. Rowe Price Group from $106.00 to $102.00 and set a “sell” rating for the company in a research report on Thursday, October 3rd. StockNews.com lowered shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Finally, TD Cowen cut their price target on T. Rowe Price Group from $123.00 to $118.00 and set a “hold” rating for the company in a research note on Monday, July 29th. Four equities research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $113.00.

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.