Janney Montgomery Scott LLC Sells 6,043 Shares of T. Rowe Price Group, Inc. $TROW

Janney Montgomery Scott LLC trimmed its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 3.2% in the second quarter, according to its most recent filing with the SEC. The fund owned 180,077 shares of the asset manager’s stock after selling 6,043 shares during the period. Janney Montgomery Scott LLC owned 0.08% of T. Rowe Price Group worth $17,378,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the company. Cooper Financial Group lifted its stake in shares of T. Rowe Price Group by 5.2% in the 1st quarter. Cooper Financial Group now owns 2,234 shares of the asset manager’s stock valued at $205,000 after acquiring an additional 110 shares during the last quarter. Hexagon Capital Partners LLC increased its holdings in T. Rowe Price Group by 44.8% in the first quarter. Hexagon Capital Partners LLC now owns 365 shares of the asset manager’s stock valued at $34,000 after purchasing an additional 113 shares during the period. Associated Banc Corp increased its holdings in T. Rowe Price Group by 0.5% in the first quarter. Associated Banc Corp now owns 24,864 shares of the asset manager’s stock valued at $2,284,000 after purchasing an additional 114 shares during the period. Dakota Wealth Management increased its holdings in T. Rowe Price Group by 4.7% in the second quarter. Dakota Wealth Management now owns 2,537 shares of the asset manager’s stock valued at $245,000 after purchasing an additional 114 shares during the period. Finally, Wealthcare Capital Partners LLC increased its holdings in T. Rowe Price Group by 1.2% in the first quarter. Wealthcare Capital Partners LLC now owns 9,429 shares of the asset manager’s stock valued at $866,000 after purchasing an additional 115 shares during the period. 73.39% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on TROW. Keefe, Bruyette & Woods increased their price objective on T. Rowe Price Group from $110.00 to $112.00 and gave the company a “market perform” rating in a report on Monday, August 4th. Morgan Stanley increased their price objective on T. Rowe Price Group from $112.00 to $116.00 and gave the company an “equal weight” rating in a report on Monday, August 4th. Zacks Research downgraded T. Rowe Price Group from a “strong-buy” rating to a “hold” rating in a report on Monday, September 8th. Evercore ISI restated a “positive” rating on shares of T. Rowe Price Group in a report on Friday, September 5th. Finally, Barclays reiterated an “underweight” rating and set a $95.00 price target (up from $91.00) on shares of T. Rowe Price Group in a report on Monday, August 4th. One analyst has rated the stock with a Buy rating, eight have given a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Reduce” and a consensus target price of $102.64.

T. Rowe Price Group Trading Up 0.6%

Shares of T. Rowe Price Group stock opened at $101.71 on Friday. The company has a market cap of $22.35 billion, a P/E ratio of 11.36, a PEG ratio of 2.62 and a beta of 1.50. The business has a 50-day moving average price of $105.78 and a two-hundred day moving average price of $98.00. T. Rowe Price Group, Inc. has a 1-year low of $77.85 and a 1-year high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings data on Friday, August 1st. The asset manager reported $2.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.15 by $0.09. The company had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.72 billion. T. Rowe Price Group had a net margin of 28.72% and a return on equity of 19.77%. The business’s revenue was down .6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.26 EPS. Equities research analysts forecast that T. Rowe Price Group, Inc. will post 9.29 EPS for the current fiscal year.

T. Rowe Price Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Monday, September 15th were given a dividend of $1.27 per share. This represents a $5.08 dividend on an annualized basis and a dividend yield of 5.0%. The ex-dividend date of this dividend was Monday, September 15th. T. Rowe Price Group’s dividend payout ratio is 56.76%.

Insider Activity

In other news, Director Robert F. Maclellan sold 3,090 shares of the stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $105.01, for a total transaction of $324,480.90. Following the transaction, the director owned 47,335 shares of the company’s stock, valued at $4,970,648.35. This represents a 6.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.00% of the stock is owned by company insiders.

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.