T. Rowe Price Group, Inc. $TROW Shares Sold by Amundi

Key Points

• Amundi reduced its holdings in T. Rowe Price Group, Inc. by 19.9%, owning 1,375,255 shares worth approximately $123.39 million after selling 342,622 shares in the first quarter.
• Several analysts have increased their price targets for T. Rowe Price Group, with the consensus price target currently at $101.55 and an average rating of "Reduce."
• T. Rowe Price Group recently declared a quarterly dividend of $1.27 per share, representing a 4.7% dividend yield with a payout ratio of 56.76%.

Amundi lessened its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 19.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,375,255 shares of the asset manager's stock after selling 342,622 shares during the period. Amundi owned approximately 0.62% of T. Rowe Price Group worth $123,393,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in TROW. Invesco Ltd. grew its holdings in T. Rowe Price Group by 43.2% during the first quarter. Invesco Ltd. now owns 3,433,684 shares of the asset manager's stock worth $315,453,000 after acquiring an additional 1,035,865 shares during the period. Charles Schwab Investment Management Inc. boosted its position in 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 worth $707,973,000 after purchasing an additional 519,075 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of T. Rowe Price Group by 28.2% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,762,910 shares of the asset manager's stock worth $199,367,000 after purchasing an additional 387,604 shares during the period. GAMMA Investing LLC increased its holdings in shares of T. Rowe Price Group by 9,555.5% during the 1st quarter. GAMMA Investing LLC now owns 333,212 shares of the asset manager's stock valued at $30,612,000 after purchasing an additional 329,761 shares in the last quarter. Finally, Vanguard Group Inc. boosted 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 worth $2,414,931,000 after buying an additional 222,556 shares in the last quarter. 73.39% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, VP Dorothy C. Sawyer sold 2,000 shares of the business's stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $95.43, for a total transaction of $190,860.00. Following the transaction, the vice president directly owned 44,789 shares in the company, valued at $4,274,214.27. The trade was a 4.27% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.60% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on TROW. JPMorgan Chase & Co. lifted their price objective on shares of T. Rowe Price Group from $98.00 to $102.00 and gave the company an "underweight" rating in a report on Monday, August 4th. Morgan Stanley upped their price target on T. Rowe Price Group from $112.00 to $116.00 and gave the stock an "equal weight" rating in a report on Monday, August 4th. Barclays reiterated an "underweight" rating and set a $95.00 price target (up previously from $91.00) on shares of T. Rowe Price Group in a research report on Monday, August 4th. Wells Fargo & Company upped their target price on T. Rowe Price Group from $98.00 to $108.00 and gave the stock an "equal weight" rating in a research note on Friday, July 11th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of T. Rowe Price Group from $110.00 to $112.00 and gave the company a "market perform" rating in a research note on Monday, August 4th. One research analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Reduce" and an average target price of $101.55.

T. Rowe Price Group Price Performance

NASDAQ TROW traded down $1.02 during mid-day trading on Tuesday, hitting $107.15. The stock had a trading volume of 1,344,135 shares, compared to its average volume of 1,780,023. The firm's 50 day moving average is $105.17 and its 200 day moving average is $97.41. The stock has a market capitalization of $23.54 billion, a price-to-earnings ratio of 11.97, a PEG ratio of 2.82 and a beta of 1.51. T. Rowe Price Group, Inc. has a twelve month low of $77.85 and a twelve month high of $125.81.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last announced its earnings results on Friday, August 1st. The asset manager reported $2.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.09. The company had revenue of $1.72 billion for the quarter, compared to analysts' expectations of $1.72 billion. T. Rowe Price Group had a net margin of 28.72% and a return on equity of 19.77%. The firm's quarterly revenue was down .6% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.26 EPS. As a group, equities research analysts expect that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Monday, September 15th will be paid a $1.27 dividend. This represents a $5.08 dividend on an annualized basis and a yield of 4.7%. The ex-dividend date of this dividend is Monday, September 15th. T. Rowe Price Group's dividend payout ratio (DPR) is 56.76%.

T. Rowe Price Group 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.