T. Rowe Price Group Inc (NASDAQ:TROW) Shares Sold by Middleton & Co Inc MA

Middleton & Co Inc MA decreased its position in shares of T. Rowe Price Group Inc (NASDAQ:TROW) by 5.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,287 shares of the asset manager’s stock after selling 225 shares during the quarter. Middleton & Co Inc MA’s holdings in T. Rowe Price Group were worth $490,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. FineMark National Bank & Trust purchased a new position in shares of T. Rowe Price Group in the 2nd quarter worth about $223,000. Close Asset Management Ltd lifted its holdings in shares of T. Rowe Price Group by 29.4% during the second quarter. Close Asset Management Ltd now owns 17,800 shares of the asset manager’s stock worth $1,953,000 after purchasing an additional 4,045 shares during the period. Coastal Investment Advisors Inc. lifted its holdings in shares of T. Rowe Price Group by 32.2% during the second quarter. Coastal Investment Advisors Inc. now owns 1,030 shares of the asset manager’s stock worth $112,000 after purchasing an additional 251 shares during the period. Bessemer Group Inc. lifted its holdings in T. Rowe Price Group by 58.3% in the second quarter. Bessemer Group Inc. now owns 71,982 shares of the asset manager’s stock valued at $7,898,000 after buying an additional 26,503 shares during the period. Finally, Legacy Financial Strategies LLC lifted its holdings in T. Rowe Price Group by 4.3% in the second quarter. Legacy Financial Strategies LLC now owns 6,272 shares of the asset manager’s stock valued at $686,000 after buying an additional 261 shares during the period. 68.72% of the stock is currently owned by institutional investors and hedge funds.

In other T. Rowe Price Group news, VP Sebastien Page sold 4,418 shares of T. Rowe Price Group stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $107.05, for a total transaction of $472,946.90. Following the transaction, the vice president now owns 51,302 shares of the company’s stock, valued at $5,491,879.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Robert C.T. Higginbotham sold 19,393 shares of T. Rowe Price Group stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $115.17, for a total transaction of $2,233,491.81. Following the transaction, the vice president now directly owns 68,864 shares in the company, valued at approximately $7,931,066.88. The disclosure for this sale can be found here. Insiders have sold 79,773 shares of company stock worth $9,187,023 in the last ninety days. Insiders own 3.10% of the company’s stock.

TROW traded up $1.23 during midday trading on Monday, reaching $110.64. The company had a trading volume of 459,222 shares, compared to its average volume of 1,112,855. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.91 and a current ratio of 3.91. The stock has a market cap of $25.97 billion, a PE ratio of 15.47, a P/E/G ratio of 1.76 and a beta of 1.05. T. Rowe Price Group Inc has a 12-month low of $84.59 and a 12-month high of $120.99. The business has a 50-day moving average price of $113.03 and a two-hundred day moving average price of $108.45.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings results on Wednesday, July 24th. The asset manager reported $2.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.88 by $0.15. T. Rowe Price Group had a net margin of 36.17% and a return on equity of 28.80%. The company had revenue of $1.40 billion during the quarter, compared to analysts’ expectations of $1.39 billion. During the same period last year, the company posted $1.87 EPS. T. Rowe Price Group’s revenue was up 3.7% on a year-over-year basis. On average, research analysts anticipate that T. Rowe Price Group Inc will post 7.8 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were issued a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a yield of 2.75%. The ex-dividend date of this dividend was Thursday, September 12th. T. Rowe Price Group’s dividend payout ratio is currently 42.52%.

TROW has been the topic of several recent analyst reports. Citigroup dropped their target price on shares of T. Rowe Price Group from $116.00 to $110.00 and set a “neutral” rating on the stock in a report on Tuesday, October 15th. Deutsche Bank reduced their price objective on shares of T. Rowe Price Group from $115.00 to $112.00 and set a “hold” rating for the company in a research report on Friday, August 9th. Morgan Stanley upped their price objective on shares of T. Rowe Price Group from $117.00 to $122.00 and gave the stock an “equal weight” rating in a research report on Friday, July 26th. ValuEngine downgraded shares of T. Rowe Price Group from a “hold” rating to a “sell” rating in a research report on Monday, September 16th. Finally, BidaskClub downgraded shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Saturday, September 21st. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $110.54.

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.

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Institutional Ownership by Quarter for T. Rowe Price Group (NASDAQ:TROW)

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