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Farmers & Merchants Investments Inc. sells 157 shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Farmers & Merchants Investments Inc. sells 157 shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)
Farmers & Merchants Investments Inc. sells 157 shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)


Farmers & Merchants Investments Inc. reduced its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW – Free Report) by 0.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 35,641 shares of the asset manager after selling 157 shares during the period. Farmers & Merchants Investments Inc.’s holdings in T. Rowe Price Group were worth $4,345,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also been buying and selling shares of the company. Creative Financial Designs Inc. ADV increased its stake in T. Rowe Price Group by 83.5% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 233 shares of the asset manager’s stock worth $25,000 after acquiring an additional 106 shares in the last quarter. First United Bank & Trust bought a new stake in T. Rowe Price Group in the fourth quarter valued at about $31,000. Park Place Capital Corp increased its stake in shares of T. Rowe Price Group by 1,775.0% during the fourth quarter. Park Place Capital Corp now owns 300 shares of the asset manager’s stock worth $32,000 after acquiring an additional 284 shares in the last quarter. Fortitude Family Office LLC bought a new stake in shares of T. Rowe Price Group in the fourth quarter valued at about $33,000. Finally, CVA Family Office LLC bought a new position in shares of T. Rowe Price Group in the fourth quarter valued at approximately $39,000. 73.39% of the shares are currently owned by institutional investors.

Insider buying and selling at T. Rowe Price Group

In other T. Rowe Price Group news, Director Robert F. Maclellan sold 3,043 shares of the company’s stock in a transaction that occurred on Monday, April 29. The shares were sold at an average price of $113.08, for a total transaction of $344,102.44. Following the completion of the transaction, the director now owns 34,635 shares of the company’s stock, valued at $3,916,525.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Jessica M. Hiebler sold 1,401 shares of the company’s stock in a transaction that occurred on Thursday, June 27. The shares were sold at an average price of $115.85, for a total transaction of $162,305.85. Following the completion of the transaction, the insider now directly owns 14,198 shares of the company’s stock, valued at $1,644,838.30. The sale was disclosed in a filing with the Securities & Exchange Commission, available through this hyperlink. Also, Director Robert F. Maclellan sold 3,043 shares of the company’s stock in a transaction that occurred on Monday, April 29. The shares were sold at an average price of $113.08, for a total value of $344,102.44. Following the transaction, the director now owns 34,635 shares of the company’s stock, valued at $3,916,525.80. The disclosure regarding this sale can be found here. In the last 90 days, insiders sold 6,444 shares of the company’s stock, valued at $740,408. 2.00% of the shares are currently owned by company insiders.

T. Rowe Price Group shares rise 0.7%

TROW shares opened at $114.60 on Wednesday. The stock’s 50-day moving average is $115.03 and its 200-day moving average is $112.96. T. Rowe Price Group, Inc. has a 52-week low of $87.43 and a 52-week high of $132.76. The company has a market cap of $25.59 billion, a price-to-earnings ratio of 13.61, a PEG ratio of 1.97 and a beta of 1.42.

T. Rowe Price Group (NASDAQ:TROW – Get Free Report) last announced its quarterly earnings results on Friday, April 26. The asset manager reported earnings per share of $2.38 for the quarter, beating the consensus estimate of $2.04 by $0.34. The company had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.71 billion. T. Rowe Price Group posted a return on equity of 19.70% and a net margin of 29.09%. The company’s revenue grew 13.8% year-over-year for the quarter. During the same quarter last year, the company posted earnings per share of $1.69. Equities analysts expect T. Rowe Price Group, Inc. to post earnings per share of $8.84 for the current year.

T. Rowe Price Group announces dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 27th. Shareholders of record on Friday, June 14th were paid a dividend of $1.24 per share. This represents an annualized dividend of $4.96 and a yield of 4.33%. The ex-dividend date of this dividend was Friday, June 14th. T. Rowe Price Group’s dividend payout ratio is currently 58.91%.

Analysts set new price targets

Several research analysts have recently issued reports on TROW shares. Evercore ISI decreased their price target on shares of T. Rowe Price Group from $110.00 to $107.00 and gave the stock an “in-line” rating in a report on Tuesday, April 30th. TD Cowen upgraded shares of T. Rowe Price Group from a “sell” rating to a “hold” rating in a report on Monday, April 8th and raised their price target on the stock from $92.00 to $114.00. JPMorgan Chase & Co. increased their price target on shares of T. Rowe Price Group from $94.00 to $103.00 and gave the stock an “underweight” rating in a report on Tuesday, April 16th. UBS Group increased their price target on shares of T. Rowe Price Group from $100.00 to $109.00 and gave the stock a “sell” rating in a report on Friday, April 12. Finally, Citigroup increased their price target on shares of T. Rowe Price Group from $110.00 to $125.00 and gave the stock a “neutral” rating in a report on Friday, April 5. Four research analysts have rated the stock with a “sell” rating and seven have assigned the company a “hold” rating. Based on data from MarketBeat.com, T. Rowe Price Group currently has a consensus rating of “Hold” and an average price target of $112.10.

Read our latest report on T. Rowe Price Group

T. Rowe Price Group Company Profile

(Free report)

T. Rowe Price Group, Inc. is a public investment manager. The firm offers its services to individuals, institutional investors, pension plans, financial intermediaries and institutions. It creates and manages equity and fixed income mutual funds. The firm invests in the public equity and fixed income markets worldwide.

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Institutional ownership by quarter for T. Rowe Price Group (NASDAQ:TROW)



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