Mercer Global Advisors Inc. ADV Cuts Stock Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Mercer Global Advisors Inc. ADV lowered its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 2.8% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,963 shares of the asset manager’s stock after selling 291 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in T. Rowe Price Group were worth $1,149,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Massmutual Trust Co. FSB ADV lifted its position in shares of T. Rowe Price Group by 7.5% in the first quarter. Massmutual Trust Co. FSB ADV now owns 1,236 shares of the asset manager’s stock worth $151,000 after buying an additional 86 shares in the last quarter. ST Germain D J Co. Inc. grew its holdings in shares of T. Rowe Price Group by 0.3% in the first quarter. ST Germain D J Co. Inc. now owns 31,065 shares of the asset manager’s stock valued at $3,787,000 after purchasing an additional 88 shares in the last quarter. MCF Advisors LLC increased its position in T. Rowe Price Group by 1.6% in the first quarter. MCF Advisors LLC now owns 5,953 shares of the asset manager’s stock worth $726,000 after purchasing an additional 92 shares during the last quarter. Paulson Wealth Management Inc. raised its stake in T. Rowe Price Group by 4.9% during the first quarter. Paulson Wealth Management Inc. now owns 2,028 shares of the asset manager’s stock valued at $247,000 after purchasing an additional 95 shares in the last quarter. Finally, Private Wealth Partners LLC lifted its position in T. Rowe Price Group by 3.1% during the second quarter. Private Wealth Partners LLC now owns 3,300 shares of the asset manager’s stock valued at $381,000 after purchasing an additional 100 shares during the last quarter. Institutional investors own 73.39% of the company’s stock.

Insider Activity

In other T. Rowe Price Group 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 transaction of $1,230,772.27. Following the transaction, the vice president now directly owns 123,624 shares in the company, valued at approximately $12,712,255.92. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $102.83, for a total transaction of $1,230,772.27. Following the transaction, the vice president now directly owns 123,624 shares in the company, valued at $12,712,255.92. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Jessica M. Hiebler sold 484 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The stock was 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 directly owns 13,939 shares of the company’s stock, valued at approximately $1,459,831.47. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

T. Rowe Price Group Price Performance

TROW stock opened at $107.46 on Thursday. T. Rowe Price Group, Inc. has a 12 month low of $87.43 and a 12 month high of $122.27. The firm’s 50-day moving average is $108.36 and its 200 day moving average is $113.13. The company has a market capitalization of $23.92 billion, a PE ratio of 12.80, a P/E/G ratio of 1.72 and a beta of 1.41.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings results on Friday, July 26th. The asset manager reported $2.26 earnings per share 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 for the quarter, compared to the consensus estimate of $1.79 billion. During the same period in the prior year, the firm posted $2.02 EPS. The business’s revenue was up 7.6% on a year-over-year basis. Sell-side analysts forecast that T. Rowe Price Group, Inc. will post 9 EPS for the current fiscal year.

T. Rowe Price Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be paid a dividend of $1.24 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $4.96 annualized dividend and a dividend yield of 4.62%. T. Rowe Price Group’s dividend payout ratio is currently 58.91%.

Analyst Upgrades and Downgrades

TROW has been the topic of several recent research reports. StockNews.com cut shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Wells Fargo & Company assumed coverage on T. Rowe Price Group in a research note on Thursday, September 12th. They issued an “equal weight” rating and a $109.00 price objective for the company. JPMorgan Chase & Co. boosted their target price on T. Rowe Price Group from $102.00 to $107.00 and gave the company an “underweight” rating in a research report on Tuesday, July 23rd. TD Cowen lowered their price target on 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, Barclays assumed coverage on shares of T. Rowe Price Group in a research report on Tuesday, August 27th. They set an “underweight” rating and a $99.00 price objective on the stock. Three analysts have rated the stock with a sell rating and eight have given a hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $113.30.

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.