Empirical Finance LLC Cuts Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Empirical Finance LLC trimmed its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 6.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,621 shares of the asset manager’s stock after selling 555 shares during the quarter. Empirical Finance LLC’s holdings in T. Rowe Price Group were worth $879,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Lynx Investment Advisory bought a new position in shares of T. Rowe Price Group during the 2nd quarter valued at $29,000. First United Bank & Trust bought a new position in shares of T. Rowe Price Group during the 4th quarter valued at $31,000. Family Firm Inc. bought a new position in shares of T. Rowe Price Group during the 2nd quarter valued at $36,000. Versant Capital Management Inc lifted its holdings in shares of T. Rowe Price Group by 660.5% during the 2nd quarter. Versant Capital Management Inc now owns 327 shares of the asset manager’s stock valued at $38,000 after buying an additional 284 shares during the period. Finally, Signature Resources Capital Management LLC bought a new position in shares of T. Rowe Price Group during the 4th quarter valued at $39,000. 73.39% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, insider Jessica M. Hiebler sold 1,401 shares of the stock in a transaction dated 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 transaction, the insider now owns 14,198 shares of the company’s stock, valued at $1,644,838.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, VP Dorothy C. Sawyer sold 2,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the vice president now directly owns 34,710 shares of the company’s stock, valued at approximately $4,061,070. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jessica M. Hiebler sold 1,401 shares of T. Rowe Price Group stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $115.85, for a total transaction of $162,305.85. Following the sale, the insider now owns 14,198 shares in the company, valued at $1,644,838.30. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by company insiders.

T. Rowe Price Group Trading Up 1.0 %

Shares of TROW opened at $106.04 on Friday. The firm’s fifty day simple moving average is $111.93 and its 200-day simple moving average is $113.80. T. Rowe Price Group, Inc. has a twelve month low of $87.43 and a twelve month high of $122.27. The firm has a market capitalization of $23.60 billion, a price-to-earnings ratio of 12.59, a PEG ratio of 1.69 and a beta of 1.42.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings data 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). The business had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.79 billion. T. Rowe Price Group had a return on equity of 19.90% and a net margin of 28.66%. The company’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same period in the previous year, the business posted $2.02 earnings per share. On average, analysts predict that T. Rowe Price Group, Inc. will post 9 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be given a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a yield of 4.68%. The ex-dividend date of this dividend is Friday, September 13th. T. Rowe Price Group’s payout ratio is currently 58.91%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on TROW. Barclays started coverage on T. Rowe Price Group in a report on Tuesday, August 27th. They set an “underweight” rating and a $99.00 price target on the stock. Deutsche Bank Aktiengesellschaft raised their target price on T. Rowe Price Group from $112.00 to $113.00 and gave the stock a “hold” rating in a report on Thursday, August 15th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $120.00 target price (down from $121.00) on shares of T. Rowe Price Group in a report on Monday, July 29th. JPMorgan Chase & Co. raised 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. Finally, StockNews.com cut T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Four equities research analysts have rated the stock with a sell rating and seven have given a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $113.10.

T. Rowe Price Group Company 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.