Venturi Wealth Management LLC Reduces Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Venturi Wealth Management LLC reduced its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 33.3% during the third quarter, HoldingsChannel.com reports. The firm owned 319 shares of the asset manager’s stock after selling 159 shares during the period. Venturi Wealth Management LLC’s holdings in T. Rowe Price Group were worth $35,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Iron Horse Wealth Management LLC raised its holdings in shares of T. Rowe Price Group by 90.9% in the third quarter. Iron Horse Wealth Management LLC now owns 231 shares of the asset manager’s stock worth $25,000 after buying an additional 110 shares during the period. Lynx Investment Advisory purchased a new stake in T. Rowe Price Group in the second quarter worth $29,000. Hexagon Capital Partners LLC increased its stake in T. Rowe Price Group by 54.7% in the third quarter. Hexagon Capital Partners LLC now owns 294 shares of the asset manager’s stock worth $32,000 after purchasing an additional 104 shares during the period. Family Firm Inc. bought a new stake in shares of T. Rowe Price Group during the second quarter worth $36,000. Finally, Versant Capital Management Inc boosted its stake in shares of T. Rowe Price Group by 660.5% during the second quarter. Versant Capital Management Inc now owns 327 shares of the asset manager’s stock valued at $38,000 after purchasing an additional 284 shares during the period. Institutional investors own 73.39% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on TROW shares. Wells Fargo & Company lifted their price objective on shares of T. Rowe Price Group from $109.00 to $112.00 and gave the company an “equal weight” rating in a report on Wednesday, October 9th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of T. Rowe Price Group from $115.00 to $120.00 and gave the company a “hold” rating in a research note on Monday, November 11th. Barclays increased their price objective on T. Rowe Price Group from $101.00 to $110.00 and gave the stock an “underweight” rating in a research note on Monday, November 4th. Morgan Stanley lifted their target price on T. Rowe Price Group from $127.00 to $129.00 and gave the company an “equal weight” rating in a research report on Monday, November 4th. Finally, The Goldman Sachs Group dropped their price target on T. Rowe Price Group from $106.00 to $102.00 and set a “sell” rating on the stock in a research report on Thursday, October 3rd. Four investment analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $115.55.

T. Rowe Price Group Price Performance

Shares of TROW stock opened at $118.77 on Friday. The stock’s 50-day moving average is $110.43 and its 200 day moving average is $112.12. T. Rowe Price Group, Inc. has a 1-year low of $96.46 and a 1-year high of $122.27. The company has a market cap of $26.39 billion, a P/E ratio of 13.17, a PEG ratio of 1.68 and a beta of 1.41.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings results on Friday, November 1st. The asset manager reported $2.57 earnings per share for the quarter, beating analysts’ consensus estimates of $2.36 by $0.21. T. Rowe Price Group had a net margin of 30.35% and a return on equity of 20.35%. The business had revenue of $1.79 billion for the quarter, compared to analysts’ expectations of $1.84 billion. During the same period last year, the business earned $2.17 EPS. The company’s revenue was up 6.9% compared to the same quarter last year. On average, analysts anticipate that T. Rowe Price Group, Inc. will post 9.33 EPS for the current year.

T. Rowe Price Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be given a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a dividend yield of 4.18%. The ex-dividend date is Friday, December 13th. T. Rowe Price Group’s payout ratio is presently 54.27%.

Insider Activity

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 transaction, the insider now owns 13,939 shares in the company, valued at $1,459,831.47. This represents a 3.36 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of T. Rowe Price Group stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $102.83, for a total transaction of $1,230,772.27. Following the completion of the sale, the vice president now owns 123,624 shares of the company’s stock, valued at $12,712,255.92. This trade represents a 8.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.

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.