Valley National Advisers Inc. Sells 1,738 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Valley National Advisers Inc. lowered its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 5.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 30,393 shares of the asset manager’s stock after selling 1,738 shares during the period. Valley National Advisers Inc.’s holdings in T. Rowe Price Group were worth $3,504,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Annapolis Financial Services LLC purchased a new position in shares of T. Rowe Price Group during the 2nd quarter worth $240,000. Brown Lisle Cummings Inc. grew its stake in shares of T. Rowe Price Group by 0.8% in the 2nd quarter. Brown Lisle Cummings Inc. now owns 37,145 shares of the asset manager’s stock valued at $4,283,000 after purchasing an additional 300 shares during the last quarter. Midwest Financial Group LLC grew its stake in shares of T. Rowe Price Group by 5.1% in the 2nd quarter. Midwest Financial Group LLC now owns 5,483 shares of the asset manager’s stock valued at $632,000 after purchasing an additional 266 shares during the last quarter. Envestnet Portfolio Solutions Inc. grew its holdings in T. Rowe Price Group by 4.5% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 68,486 shares of the asset manager’s stock worth $7,897,000 after acquiring an additional 2,952 shares during the period. Finally, PGGM Investments grew its holdings in T. Rowe Price Group by 4.2% in the second quarter. PGGM Investments now owns 26,611 shares of the asset manager’s stock valued at $3,069,000 after purchasing an additional 1,074 shares during the last quarter. 73.39% of the stock is owned by institutional investors and hedge funds.

T. Rowe Price Group Stock Up 0.5 %

Shares of NASDAQ TROW traded up $0.54 during midday trading on Friday, hitting $108.78. The company had a trading volume of 827,460 shares, compared to its average volume of 1,270,033. The business has a 50-day simple moving average of $113.65 and a two-hundred day simple moving average of $113.87. The firm has a market capitalization of $24.21 billion, a price-to-earnings ratio of 12.92, a price-to-earnings-growth ratio of 1.64 and a beta of 1.42. T. Rowe Price Group, Inc. has a twelve month low of $87.43 and a twelve month high of $122.27.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings results on Friday, July 26th. The asset manager reported $2.26 EPS for the quarter, missing the consensus estimate of $2.27 by ($0.01). T. Rowe Price Group had a return on equity of 19.90% and a net margin of 28.66%. The firm had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.79 billion. During the same quarter in the prior year, the company posted $2.02 EPS. The firm’s revenue was up 7.6% on a year-over-year basis. On average, equities analysts forecast that T. Rowe Price Group, Inc. will post 8.98 EPS for the current year.

T. Rowe Price Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be issued a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a dividend yield of 4.56%. The ex-dividend date is Friday, September 13th. T. Rowe Price Group’s dividend payout ratio (DPR) is currently 58.91%.

Insider Buying and Selling at T. Rowe Price Group

In other news, VP Dorothy C. Sawyer sold 2,000 shares of the company’s stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $117.00, for a total transaction of $234,000.00. Following the transaction, the vice president now owns 34,710 shares of the company’s stock, valued at approximately $4,061,070. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Jessica M. Hiebler sold 1,401 shares of the business’s stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $115.85, for a total value of $162,305.85. Following the completion of the sale, the insider now owns 14,198 shares in the company, valued at $1,644,838.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Dorothy C. Sawyer sold 2,000 shares of the company’s stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $117.00, for a total value of $234,000.00. Following the sale, the vice president now owns 34,710 shares of the company’s stock, valued at approximately $4,061,070. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft lifted their target price on T. Rowe Price Group from $112.00 to $113.00 and gave the company a “hold” rating in a research note on Thursday. Evercore ISI lowered their price objective on T. Rowe Price Group from $110.00 to $107.00 and set an “in-line” rating on the stock in a research note on Tuesday, April 30th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $120.00 price objective (down previously from $121.00) on shares of T. Rowe Price Group in a report on Monday, July 29th. TD Cowen dropped their target price on shares of T. Rowe Price Group from $123.00 to $118.00 and set a “hold” rating for the company in a research report on Monday, July 29th. Finally, JPMorgan Chase & Co. increased their target price on T. Rowe Price Group from $102.00 to $107.00 and gave the stock an “underweight” rating in a report on Tuesday, July 23rd. Three investment analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. According to data from MarketBeat.com, T. Rowe Price Group currently has an average rating of “Hold” and an average target price of $114.67.

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.