ST Germain D J Co. Inc. Sells 152 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

ST Germain D J Co. Inc. lessened its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 0.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 31,401 shares of the asset manager’s stock after selling 152 shares during the quarter. ST Germain D J Co. Inc.’s holdings in T. Rowe Price Group were worth $3,421,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Lynx Investment Advisory purchased a new position in T. Rowe Price Group in the 2nd quarter valued at approximately $29,000. Hexagon Capital Partners LLC grew its stake in T. Rowe Price Group by 54.7% in the 3rd quarter. Hexagon Capital Partners LLC now owns 294 shares of the asset manager’s stock valued at $32,000 after buying an additional 104 shares in the last quarter. Family Firm Inc. purchased a new position in T. Rowe Price Group in the 2nd quarter valued at approximately $36,000. Versant Capital Management Inc grew its stake in 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 valued at $38,000 after buying an additional 284 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its position 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 valued at $40,000 after purchasing an additional 160 shares in the last quarter. Institutional investors own 73.39% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft boosted their price target on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the company a “hold” rating in a research report on Thursday, August 15th. StockNews.com lowered shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Evercore ISI boosted their price target on shares of 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. Keefe, Bruyette & Woods restated a “market perform” rating and set a $120.00 price target (down from $121.00) on shares of T. Rowe Price Group in a research report on Monday, July 29th. Finally, Wells Fargo & Company boosted their price target on shares of T. Rowe Price Group from $109.00 to $112.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 9th. Four research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. According to MarketBeat, T. Rowe Price Group presently has an average rating of “Hold” and a consensus target price of $113.00.

T. Rowe Price Group Price Performance

T. Rowe Price Group stock traded up $2.42 during mid-day trading on Friday, hitting $115.63. The company’s stock had a trading volume of 1,765,058 shares, compared to its average volume of 1,254,308. The stock has a market cap of $25.82 billion, a price-to-earnings ratio of 13.73, a price-to-earnings-growth ratio of 1.84 and a beta of 1.41. The business has a 50 day moving average price of $107.54 and a 200-day moving average price of $112.05. 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 results on Friday, July 26th. The asset manager reported $2.26 earnings per share for the quarter, missing the consensus estimate of $2.27 by ($0.01). The business had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.79 billion. T. Rowe Price Group had a return on equity of 19.90% and a net margin of 28.66%. The business’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same period in the prior year, the firm earned $2.02 earnings per share. On average, equities research analysts expect that T. Rowe Price Group, Inc. will post 9.04 earnings per share 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. Shareholders of record on Friday, September 13th were paid a $1.24 dividend. This represents a $4.96 annualized dividend and a yield of 4.29%. The ex-dividend date was Friday, September 13th. T. Rowe Price Group’s dividend payout ratio is presently 58.91%.

Insiders Place Their Bets

In other news, insider Jessica M. Hiebler sold 484 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $104.73, for a total transaction of $50,689.32. Following the completion of the transaction, the insider now directly owns 13,939 shares of the company’s stock, valued at approximately $1,459,831.47. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, insider Jessica M. Hiebler sold 484 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $104.73, for a total transaction of $50,689.32. Following the completion of the transaction, the insider now directly owns 13,939 shares of the company’s stock, valued at approximately $1,459,831.47. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the company’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $102.83, for a total transaction of $1,230,772.27. Following the transaction, the vice president now directly owns 123,624 shares of the company’s stock, valued at approximately $12,712,255.92. 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 currently owned by insiders.

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.