T. Rowe Price Group, Inc. $TROW Position Trimmed by OLD Point Trust & Financial Services N A

OLD Point Trust & Financial Services N A lessened its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 13.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,125 shares of the asset manager’s stock after selling 1,225 shares during the quarter. OLD Point Trust & Financial Services N A’s holdings in T. Rowe Price Group were worth $784,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Invesco Ltd. grew its stake in shares of T. Rowe Price Group by 43.2% in the 1st quarter. Invesco Ltd. now owns 3,433,684 shares of the asset manager’s stock valued at $315,453,000 after buying an additional 1,035,865 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of T. Rowe Price Group by 7.2% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 7,706,251 shares of the asset manager’s stock valued at $707,973,000 after buying an additional 519,075 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of T. Rowe Price Group in the 2nd quarter valued at approximately $37,722,000. Vanguard Group Inc. grew its stake in shares of T. Rowe Price Group by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 26,286,393 shares of the asset manager’s stock valued at $2,414,931,000 after buying an additional 222,556 shares in the last quarter. Finally, Vest Financial LLC grew its stake in shares of T. Rowe Price Group by 31.1% in the 2nd quarter. Vest Financial LLC now owns 616,351 shares of the asset manager’s stock valued at $59,478,000 after buying an additional 146,382 shares in the last quarter. Hedge funds and other institutional investors own 73.39% of the company’s stock.

T. Rowe Price Group Stock Down 1.4%

Shares of TROW stock opened at $102.76 on Thursday. T. Rowe Price Group, Inc. has a 12 month low of $77.85 and a 12 month high of $125.81. The firm has a market cap of $22.58 billion, a PE ratio of 11.48, a price-to-earnings-growth ratio of 5.72 and a beta of 1.50. The stock has a 50 day moving average of $105.55 and a 200-day moving average of $99.18.

T. Rowe Price Group (NASDAQ:TROW) last issued its earnings results on Friday, August 1st. The asset manager reported $2.24 EPS for the quarter, beating analysts’ consensus estimates of $2.15 by $0.09. The business had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.72 billion. T. Rowe Price Group had a return on equity of 19.77% and a net margin of 28.72%.T. Rowe Price Group’s revenue was down .6% on a year-over-year basis. During the same period in the prior year, the company posted $2.26 earnings per share. As a group, equities analysts predict 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 announced a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Monday, September 15th were paid a $1.27 dividend. This represents a $5.08 dividend on an annualized basis and a dividend yield of 4.9%. The ex-dividend date was Monday, September 15th. T. Rowe Price Group’s dividend payout ratio is presently 56.76%.

Insider Activity at T. Rowe Price Group

In related news, Director Robert F. Maclellan sold 3,090 shares of the company’s stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $105.01, for a total value 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 2.00% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on TROW. Deutsche Bank Aktiengesellschaft boosted their price target on T. Rowe Price Group from $109.00 to $114.00 and gave the company a “hold” rating in a research note on Thursday, October 9th. JPMorgan Chase & Co. boosted their target price on T. Rowe Price Group from $102.00 to $109.00 and gave the stock an “underweight” rating in a report on Wednesday, October 15th. TD Cowen boosted their target price on T. Rowe Price Group from $103.00 to $108.00 and gave the stock a “hold” rating in a report on Wednesday, October 8th. Jefferies Financial Group boosted their target price on T. Rowe Price Group from $104.00 to $106.00 and gave the stock a “hold” rating in a report on Tuesday, October 7th. Finally, Zacks Research upgraded T. Rowe Price Group from a “hold” rating to a “strong-buy” rating in a report on Friday, October 10th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, ten have issued a Hold rating and four have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Reduce” and an average price target of $107.54.

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.