T. Rowe Price Group, Inc. (NASDAQ:TROW) Holdings Lessened by Touchstone Capital Inc.

Touchstone Capital Inc. trimmed its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 30.9% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 35,606 shares of the asset manager’s stock after selling 15,933 shares during the period. T. Rowe Price Group comprises 5.9% of Touchstone Capital Inc.’s investment portfolio, making the stock its 9th biggest holding. Touchstone Capital Inc.’s holdings in T. Rowe Price Group were worth $3,879,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Massmutual Trust Co. FSB ADV raised its stake in shares of T. Rowe Price Group by 7.5% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 1,236 shares of the asset manager’s stock valued at $151,000 after acquiring an additional 86 shares during the period. MCF Advisors LLC increased its stake in T. Rowe Price Group by 1.6% during the 1st quarter. MCF Advisors LLC now owns 5,953 shares of the asset manager’s stock worth $726,000 after buying an additional 92 shares during the period. Paulson Wealth Management Inc. increased its stake in T. Rowe Price Group by 4.9% during the 1st quarter. Paulson Wealth Management Inc. now owns 2,028 shares of the asset manager’s stock worth $247,000 after buying an additional 95 shares during the period. EverSource Wealth Advisors LLC increased its stake in T. Rowe Price Group by 29.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 430 shares of the asset manager’s stock worth $49,000 after buying an additional 99 shares during the period. Finally, Private Wealth Partners LLC increased its stake in T. Rowe Price Group by 3.1% during the 2nd quarter. Private Wealth Partners LLC now owns 3,300 shares of the asset manager’s stock worth $381,000 after buying an additional 100 shares during the period. 73.39% of the stock is owned by hedge funds and other institutional investors.

T. Rowe Price Group Price Performance

Shares of T. Rowe Price Group stock traded up $1.65 during trading hours on Wednesday, hitting $111.11. The company had a trading volume of 242,871 shares, compared to its average volume of 1,244,330. The company’s 50-day moving average is $106.99 and its two-hundred day moving average is $112.08. T. Rowe Price Group, Inc. has a twelve month low of $87.43 and a twelve month high of $122.27. The company has a market cap of $24.81 billion, a P/E ratio of 13.00, a price-to-earnings-growth ratio of 1.79 and a beta of 1.41.

T. Rowe Price Group (NASDAQ:TROW) last issued its earnings results on Friday, July 26th. The asset manager reported $2.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.27 by ($0.01). T. Rowe Price Group had a net margin of 28.66% and a return on equity of 19.90%. The company had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.79 billion. During the same quarter in the previous year, the company posted $2.02 EPS. The company’s quarterly revenue was up 7.6% on a year-over-year basis. Sell-side analysts expect that T. Rowe Price Group, Inc. will post 9.02 EPS for the current year.

T. Rowe Price Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were paid a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a yield of 4.46%. The ex-dividend date of this dividend was Friday, September 13th. T. Rowe Price Group’s dividend payout ratio is currently 58.91%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Barclays upped their target price on shares of T. Rowe Price Group from $99.00 to $101.00 and gave the stock an “underweight” rating in a research note on Monday. TD Cowen lowered their price target on shares of T. Rowe Price Group from $123.00 to $118.00 and set a “hold” rating for the company in a report on Monday, July 29th. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $120.00 price target (down previously from $121.00) on shares of T. Rowe Price Group in a report on Monday, July 29th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the stock a “hold” rating in a report on Thursday, August 15th. Finally, The Goldman Sachs Group lowered their price target on shares of T. Rowe Price Group from $106.00 to $102.00 and set a “sell” rating for the company in a report on Thursday, October 3rd. Four research analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $112.82.

Insiders Place Their Bets

In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 484 shares of the company’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $104.73, for a total transaction of $50,689.32. Following the completion of the transaction, the insider now owns 13,939 shares in the company, valued at approximately $1,459,831.47. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $102.83, for a total value of $1,230,772.27. Following the completion of the transaction, the vice president now owns 123,624 shares in the company, valued at $12,712,255.92. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jessica M. Hiebler sold 484 shares of the 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 completion of the transaction, the insider now owns 13,939 shares of the company’s stock, valued at $1,459,831.47. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 2.00% of the stock is owned by insiders.

About T. Rowe Price Group

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.