Marathon Capital Management Sells 58,200 Shares of T. Rowe Price Group, Inc. $TROW

Marathon Capital Management reduced its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 9.1% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 580,325 shares of the asset manager’s stock after selling 58,200 shares during the period. T. Rowe Price Group comprises approximately 13.4% of Marathon Capital Management’s holdings, making the stock its biggest holding. Marathon Capital Management’s holdings in T. Rowe Price Group were worth $65,977,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of TROW. TD Private Client Wealth LLC lifted its stake in shares of T. Rowe Price Group by 91.8% during the 4th quarter. TD Private Client Wealth LLC now owns 257 shares of the asset manager’s stock worth $26,000 after purchasing an additional 123 shares during the period. DV Equities LLC purchased a new stake in shares of T. Rowe Price Group in the fourth quarter valued at $32,000. Motiv8 Investments LLC purchased a new stake in shares of T. Rowe Price Group in the fourth quarter valued at $35,000. Bank & Trust Co increased its stake in T. Rowe Price Group by 52.4% in the second quarter. Bank & Trust Co now owns 314 shares of the asset manager’s stock valued at $36,000 after purchasing an additional 108 shares during the last quarter. Finally, TD Waterhouse Canada Inc. increased its stake in T. Rowe Price Group by 92.0% in the fourth 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 during the last quarter. 73.39% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Evercore set a $118.00 price target on T. Rowe Price Group in a research note on Monday. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $115.00 price objective (down from $120.00) on shares of T. Rowe Price Group in a research note on Monday, August 3rd. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $109.00 price objective on shares of T. Rowe Price Group in a report on Monday, August 3rd. The Goldman Sachs Group raised their target price on shares of T. Rowe Price Group from $90.00 to $92.00 and gave the stock a “sell” rating in a research report on Tuesday, June 30th. Finally, BMO Capital Markets boosted their target price on shares of T. Rowe Price Group from $110.00 to $120.00 and gave the company a “market perform” rating in a report on Monday, August 3rd. One analyst has rated the stock with a Strong Buy rating, nine have given a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus target price of $105.67.

T. Rowe Price Group Stock Performance

NASDAQ TROW opened at $111.30 on Friday. The firm has a market capitalization of $23.74 billion, a price-to-earnings ratio of 11.16, a PEG ratio of 4.34 and a beta of 1.47. T. Rowe Price Group, Inc. has a one year low of $85.22 and a one year high of $122.00. The company’s 50 day moving average price is $113.43 and its 200 day moving average price is $102.60.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings data on Friday, July 31st. The asset manager reported $2.57 earnings per share (EPS) for the quarter, topping 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 company had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.89 billion. During the same period in the previous year, the firm earned $2.24 earnings per share. T. Rowe Price Group’s revenue for the quarter was up 10.7% on a year-over-year basis. Sell-side analysts forecast that T. Rowe Price Group, Inc. will post 10.13 EPS for the current fiscal year.

T. Rowe Price Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th will be issued a dividend of $1.30 per share. The ex-dividend date is Tuesday, September 15th. This represents a $5.20 annualized dividend and a dividend yield of 4.7%. T. Rowe Price Group’s payout ratio is presently 52.16%.

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.