Rothschild Investment LLC Reduces Position in T. Rowe Price Group, Inc. $TROW

Rothschild Investment LLC decreased its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 24.4% in the second quarter, HoldingsChannel reports. The fund owned 7,322 shares of the asset manager’s stock after selling 2,364 shares during the quarter. Rothschild Investment LLC’s holdings in T. Rowe Price Group were worth $707,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in T. Rowe Price Group by 0.9% during the first quarter. Vanguard Group Inc. now owns 26,286,393 shares of the asset manager’s stock valued at $2,414,931,000 after purchasing an additional 222,556 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of T. Rowe Price Group by 7.2% in the first quarter. Charles Schwab Investment Management Inc. now owns 7,706,251 shares of the asset manager’s stock worth $707,973,000 after buying an additional 519,075 shares during the period. Geode Capital Management LLC lifted its position in shares of T. Rowe Price Group by 3.4% during the 2nd quarter. Geode Capital Management LLC now owns 6,014,236 shares of the asset manager’s stock valued at $578,059,000 after buying an additional 197,024 shares in the last quarter. Invesco Ltd. grew its stake in shares of T. Rowe Price Group by 43.2% during the 1st quarter. Invesco Ltd. now owns 3,433,684 shares of the asset manager’s stock valued at $315,453,000 after acquiring an additional 1,035,865 shares during the period. Finally, American Century Companies Inc. increased its holdings in T. Rowe Price Group by 4.9% in the 1st quarter. American Century Companies Inc. now owns 2,955,703 shares of the asset manager’s stock worth $271,541,000 after acquiring an additional 138,515 shares in the last quarter. 73.39% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on TROW. Bank of America upped their price target on shares of T. Rowe Price Group from $91.00 to $97.00 and gave the stock an “underperform” rating in a research report on Thursday, October 2nd. Citigroup lifted their target price on shares of T. Rowe Price Group from $105.00 to $107.00 in a research note on Monday, November 3rd. Morgan Stanley increased their price target on T. Rowe Price Group from $125.00 to $126.00 and gave the stock an “equal weight” rating in a research note on Monday, October 27th. Weiss Ratings reissued a “hold (c)” rating on shares of T. Rowe Price Group in a report on Wednesday, October 8th. Finally, Zacks Research raised T. Rowe Price Group from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 10th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Hold rating and four have given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Reduce” and an average price target of $109.38.

T. Rowe Price Group Stock Up 0.1%

Shares of TROW stock opened at $97.48 on Wednesday. The company’s fifty day simple moving average is $103.62 and its two-hundred day simple moving average is $101.51. T. Rowe Price Group, Inc. has a 52 week low of $77.85 and a 52 week high of $125.81. The stock has a market cap of $21.27 billion, a P/E ratio of 10.89, a PEG ratio of 5.61 and a beta of 1.51.

T. Rowe Price Group (NASDAQ:TROW) last issued its earnings results on Friday, October 31st. The asset manager reported $2.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.55 by $0.26. The firm had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.88 billion. T. Rowe Price Group had a return on equity of 19.77% and a net margin of 28.72%.The business’s revenue was up 6.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.57 earnings per share. On average, analysts anticipate that T. Rowe Price Group, Inc. will post 9.29 EPS for the current fiscal year.

T. Rowe Price Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Monday, December 15th will be issued a dividend of $1.27 per share. This represents a $5.08 annualized dividend and a dividend yield of 5.2%. The ex-dividend date of this dividend is Monday, December 15th. T. Rowe Price Group’s dividend payout ratio is 55.34%.

Insider Activity at T. Rowe Price Group

In other news, Director Robert F. Maclellan sold 3,090 shares of the stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $105.01, for a total transaction of $324,480.90. Following the completion of the transaction, the director directly owned 47,335 shares in the company, valued at approximately $4,970,648.35. This represents a 6.13% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.60% of the company’s stock.

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.