Pacer Advisors Inc. Has $1.23 Million Stock Position in T. Rowe Price Group, Inc. $TROW

Pacer Advisors Inc. lowered its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 32.2% in the first quarter, Holdings Channel.com reports. The institutional investor owned 13,694 shares of the asset manager’s stock after selling 6,492 shares during the period. Pacer Advisors Inc.’s holdings in T. Rowe Price Group were worth $1,234,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in TROW. TD Private Client Wealth LLC lifted its holdings in T. Rowe Price Group by 91.8% during the fourth quarter. TD Private Client Wealth LLC now owns 257 shares of the asset manager’s stock worth $26,000 after acquiring an additional 123 shares in the last quarter. Sound Income Strategies LLC increased its holdings in shares of T. Rowe Price Group by 170.3% in the fourth quarter. Sound Income Strategies LLC now owns 300 shares of the asset manager’s stock worth $32,000 after acquiring an additional 189 shares in the last quarter. DV Equities LLC acquired a new stake in shares of T. Rowe Price Group during the fourth quarter worth about $32,000. Motiv8 Investments LLC acquired a new stake in shares of T. Rowe Price Group during the fourth quarter worth about $35,000. Finally, TD Waterhouse Canada Inc. lifted its holdings in shares of T. Rowe Price Group by 92.0% during the 4th quarter. TD Waterhouse Canada Inc. now owns 386 shares of the asset manager’s stock valued at $40,000 after purchasing an additional 185 shares in the last quarter. Institutional investors and hedge funds own 73.39% of the company’s stock.

Insider Activity

In other news, VP Stephon A. Jackson sold 3,000 shares of T. Rowe Price Group stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $102.56, for a total transaction of $307,680.00. Following the completion of the transaction, the vice president directly owned 83,883 shares in the company, valued at approximately $8,603,040.48. The trade was a 3.45% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.60% of the stock is currently owned by insiders.

T. Rowe Price Group Price Performance

Shares of TROW opened at $114.02 on Monday. The company has a market cap of $24.32 billion, a PE ratio of 11.44, a price-to-earnings-growth ratio of 4.44 and a beta of 1.47. The firm has a 50-day moving average of $112.81 and a 200-day moving average of $102.41. T. Rowe Price Group, Inc. has a one year low of $85.22 and a one year high of $122.00.

T. Rowe Price Group (NASDAQ:TROW) last issued its earnings results on Friday, July 31st. The asset manager reported $2.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.52 by $0.05. T. Rowe Price Group had a net margin of 29.26% and a return on equity of 20.91%. The business had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.89 billion. During the same period last year, the business posted $2.24 EPS. T. Rowe Price Group’s revenue was up 10.7% on a year-over-year basis. Analysts expect that T. Rowe Price Group, Inc. will post 10.13 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 15th will be given a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date of this dividend is Tuesday, September 15th. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 52.16%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on TROW shares. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $109.00 price objective on shares of T. Rowe Price Group in a research report on Monday, August 3rd. BMO Capital Markets lifted their price target on shares of T. Rowe Price Group from $110.00 to $120.00 and gave the company a “market perform” rating in a research note on Monday, August 3rd. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $115.00 price target (down from $120.00) on shares of T. Rowe Price Group in a report on Monday, August 3rd. JPMorgan Chase & Co. lowered their price objective on shares of T. Rowe Price Group from $106.00 to $103.00 and set an “underweight” rating for the company in a research report on Friday, April 24th. Finally, Morgan Stanley set a $116.00 price objective on shares of T. Rowe Price Group in a report on Wednesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat, T. Rowe Price Group has a consensus rating of “Reduce” and a consensus price target of $105.92.

T. Rowe Price Group Profile

T. Rowe Price Group, Inc is a global investment management firm headquartered in Baltimore, Maryland, founded by Thomas Rowe Price Jr. in 1937. The company provides a broad range of investment products and services for individual investors, financial intermediaries, retirement plan sponsors and institutional clients. Its offerings are built around active investment management and in-house research across equity, fixed income and multi-asset strategies, reflecting a long history as a research-driven asset manager.

The firm’s product lineup includes mutual funds, separate accounts, collective investment trusts, target-date and target-risk funds, and managed account solutions, as well as services for defined contribution and defined benefit retirement plans.