Toth Financial Advisory Corp reduced its position in T. Rowe Price Group, Inc. (NASDAQ:TROW – Free Report) by 27.5% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 26,386 shares of the asset manager’s stock after selling 10,005 shares during the quarter. Toth Financial Advisory Corp’s holdings in T. Rowe Price Group were worth $3,000,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds also recently made changes to their positions in TROW. TD Private Client Wealth LLC grew its position 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 valued at $26,000 after purchasing an additional 123 shares in the last quarter. DV Equities LLC purchased a new position in shares of T. Rowe Price Group during the 4th quarter worth $32,000. Motiv8 Investments LLC bought a new stake in shares of T. Rowe Price Group during the fourth quarter valued at approximately $35,000. Bank & Trust Co boosted its holdings in shares of T. Rowe Price Group by 52.4% in the 2nd quarter. Bank & Trust Co now owns 314 shares of the asset manager’s stock worth $36,000 after purchasing an additional 108 shares during the period. Finally, Keating Financial Advisory Services Inc. bought a new stake in shares of T. Rowe Price Group during the second quarter valued at approximately $39,000. Hedge funds and other institutional investors own 73.39% of the company’s stock.
Analyst Upgrades and Downgrades
TROW has been the topic of a number of analyst reports. Zacks Research cut T. Rowe Price Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 13th. The Goldman Sachs Group lifted their price target on shares of T. Rowe Price Group from $90.00 to $92.00 and gave the company a “sell” rating in a research report on Tuesday, June 30th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $115.00 target price (down from $120.00) on shares of T. Rowe Price Group in a research report on Monday, August 3rd. Barclays decreased their target price on T. Rowe Price Group from $108.00 to $103.00 and set an “underweight” rating for the company in a research report on Monday, August 3rd. Finally, TD Cowen upped their price target on shares of T. Rowe Price Group from $107.00 to $108.00 and gave the company a “hold” rating in a report on Monday, August 3rd. Ten analysts have rated the stock with a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat, T. Rowe Price Group currently has a consensus rating of “Reduce” and a consensus target price of $105.67.
T. Rowe Price Group Stock Performance
Shares of NASDAQ TROW opened at $111.24 on Friday. T. Rowe Price Group, Inc. has a 52 week low of $85.22 and a 52 week high of $122.00. The stock has a market capitalization of $23.73 billion, a P/E ratio of 11.16, a PEG ratio of 3.72 and a beta of 1.47. The stock’s fifty day moving average is $114.35 and its 200 day moving average is $103.34.
T. Rowe Price Group (NASDAQ:TROW – Get Free Report) last posted its quarterly earnings data on Friday, July 31st. The asset manager reported $2.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.89 billion. During the same period in the previous year, the firm earned $2.24 EPS. The business’s revenue for the quarter was up 10.7% compared to the same quarter last year. Equities research analysts forecast that T. Rowe Price Group, Inc. will post 10.15 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 dividend of $1.30 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.7%. T. Rowe Price Group’s payout ratio is presently 52.16%.
Insider Transactions at T. Rowe Price Group
In related news, VP Joshua B. Nelson sold 10,000 shares of the business’s stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $111.82, for a total value of $1,118,200.00. Following the sale, the vice president owned 71,328 shares in the company, valued at approximately $7,975,896.96. The trade was a 12.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 1.60% of the company’s stock.
T. Rowe Price Group Company 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.
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