Bard Financial Services Inc. Sells 1,500 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Bard Financial Services Inc. decreased its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 36.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,575 shares of the asset manager’s stock after selling 1,500 shares during the period. Bard Financial Services Inc.’s holdings in T. Rowe Price Group were worth $280,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Confluence Investment Management LLC bought a new stake in T. Rowe Price Group during the first quarter worth about $130,386,000. Los Angeles Capital Management LLC boosted its stake in T. Rowe Price Group by 492.3% during the first quarter. Los Angeles Capital Management LLC now owns 319,887 shares of the asset manager’s stock worth $39,001,000 after acquiring an additional 265,881 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in T. Rowe Price Group by 15.8% during the second quarter. Dimensional Fund Advisors LP now owns 1,611,307 shares of the asset manager’s stock worth $185,810,000 after acquiring an additional 220,105 shares in the last quarter. AQR Capital Management LLC boosted its stake in T. Rowe Price Group by 77.2% during the second quarter. AQR Capital Management LLC now owns 451,237 shares of the asset manager’s stock worth $52,032,000 after acquiring an additional 196,565 shares in the last quarter. Finally, Burney Co. bought a new stake in T. Rowe Price Group during the second quarter worth about $20,938,000. Institutional investors own 73.39% of the company’s stock.

Insider Buying and Selling at T. Rowe Price Group

In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the company’s 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 completion of the sale, the vice president now directly owns 123,624 shares of the company’s stock, valued at approximately $12,712,255.92. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the company’s stock in a transaction that occurred on 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 directly owns 123,624 shares in the company, valued at $12,712,255.92. This represents a 0.00 % decrease in their ownership of the stock. The transaction 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 company’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 owns 13,939 shares of the company’s stock, valued at approximately $1,459,831.47. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

TROW has been the topic of several research reports. Evercore ISI boosted their price objective on shares of T. Rowe Price Group from $108.00 to $109.00 and gave the stock an “in-line” rating in a research note on Friday. Deutsche Bank Aktiengesellschaft lifted their target price 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. StockNews.com cut shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Monday, July 29th. TD Cowen decreased their target price 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. Finally, JPMorgan Chase & Co. lifted their target price on shares of T. Rowe Price Group from $102.00 to $107.00 and gave the stock an “underweight” rating in a report on Tuesday, July 23rd. Four analysts have rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $112.36.

T. Rowe Price Group Stock Performance

Shares of TROW traded up $1.99 during mid-day trading on Friday, hitting $108.47. 739,131 shares of the company traded hands, compared to its average volume of 1,144,817. The stock has a 50-day moving average price of $107.17 and a two-hundred day moving average price of $112.71. T. Rowe Price Group, Inc. has a 1 year low of $87.43 and a 1 year high of $122.27. The stock has a market cap of $24.22 billion, a price-to-earnings ratio of 12.88, a P/E/G ratio of 1.72 and a beta of 1.41.

T. Rowe Price Group (NASDAQ:TROW) last announced its earnings results on Friday, July 26th. The asset manager reported $2.26 EPS for the quarter, missing analysts’ consensus estimates 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 business had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.79 billion. During the same period in the prior year, the company posted $2.02 earnings per share. The firm’s quarterly revenue was up 7.6% on a year-over-year basis. On average, analysts forecast that T. Rowe Price Group, Inc. will post 8.96 EPS for the current year.

T. Rowe Price Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were issued a dividend of $1.24 per share. The ex-dividend date was Friday, September 13th. This represents a $4.96 dividend on an annualized basis and a yield of 4.57%. T. Rowe Price Group’s dividend payout ratio is currently 58.91%.

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.