Banque Cantonale Vaudoise Invests $1.23 Million in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Key Points

• Banque Cantonale Vaudoise has invested approximately $1.23 million in T. Rowe Price Group by purchasing 13,387 shares in the first quarter of the year.
• T. Rowe Price Group recently reported $2.23 earnings per share for the quarter, exceeding analysts' expectations, although its revenue fell slightly short at $1.76 billion.
• Despite positive earnings, several analysts have adjusted their price targets and ratings for T. Rowe Price Group, with current consensus indicating a "Hold" rating and an average price target of $96.64.

Banque Cantonale Vaudoise purchased a new stake in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 13,387 shares of the asset manager's stock, valued at approximately $1,230,000.

Several other large investors have also added to or reduced their stakes in the stock. Federated Hermes Inc. boosted its position in shares of T. Rowe Price Group by 6.7% in the 1st quarter. Federated Hermes Inc. now owns 2,112 shares of the asset manager's stock worth $194,000 after purchasing an additional 133 shares in the last quarter. TCTC Holdings LLC increased its holdings in shares of T. Rowe Price Group by 0.7% in the 1st quarter. TCTC Holdings LLC now owns 57,545 shares of the asset manager's stock worth $5,287,000 after purchasing an additional 389 shares in the last quarter. Ridgewood Investments LLC lifted its holdings in shares of T. Rowe Price Group by 14.7% during the first quarter. Ridgewood Investments LLC now owns 18,093 shares of the asset manager's stock valued at $1,662,000 after purchasing an additional 2,323 shares in the last quarter. LPL Financial LLC boosted its position in shares of T. Rowe Price Group by 16.1% during the first quarter. LPL Financial LLC now owns 494,839 shares of the asset manager's stock valued at $45,461,000 after buying an additional 68,551 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in T. Rowe Price Group by 8.6% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 52,739 shares of the asset manager's stock worth $4,845,000 after buying an additional 4,184 shares in the last quarter. Institutional investors own 73.39% of the company's stock.

T. Rowe Price Group Stock Performance

TROW stock traded down $0.37 during trading on Tuesday, hitting $105.57. 631,924 shares of the company's stock traded hands, compared to its average volume of 1,839,902. The business has a fifty day simple moving average of $98.64 and a 200 day simple moving average of $98.16. 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 capitalization of $23.26 billion, a price-to-earnings ratio of 11.80, a P/E/G ratio of 3.03 and a beta of 1.47.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last posted its quarterly earnings data on Friday, August 1st. The asset manager reported $2.24 earnings per share for the quarter, beating analysts' consensus estimates of $2.15 by $0.09. T. Rowe Price Group had a net margin of 28.72% and a return on equity of 19.84%. The business had revenue of $1.72 billion for the quarter, compared to analysts' expectations of $1.72 billion. During the same quarter in the previous year, the business posted $2.26 earnings per share. The business's revenue was down .6% compared to the same quarter last year. Research analysts forecast that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Friday, June 13th were paid a dividend of $1.27 per share. This represents a $5.08 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date of this dividend was Friday, June 13th. T. Rowe Price Group's payout ratio is currently 56.76%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on TROW. Barclays raised their price target on shares of T. Rowe Price Group from $91.00 to $95.00 and gave the company an "underweight" rating in a report on Monday. TD Cowen dropped their price target on T. Rowe Price Group from $112.00 to $89.00 and set a "hold" rating on the stock in a research note on Wednesday, April 9th. Morgan Stanley upped their price objective on T. Rowe Price Group from $112.00 to $116.00 and gave the company an "equal weight" rating in a research report on Monday. Keefe, Bruyette & Woods boosted their price target on T. Rowe Price Group from $110.00 to $112.00 and gave the company a "market perform" rating in a research note on Monday. Finally, JPMorgan Chase & Co. increased their price objective on shares of T. Rowe Price Group from $98.00 to $102.00 and gave the stock an "underweight" rating in a research note on Monday. Four equities research analysts have rated the stock with a sell rating and nine have issued a hold rating to the stock. According to MarketBeat, T. Rowe Price Group presently has a consensus rating of "Hold" and a consensus price target of $101.09.

Insiders Place Their Bets

In other T. Rowe Price Group news, VP Dorothy C. Sawyer sold 2,000 shares of the company's stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $95.43, for a total value of $190,860.00. Following the transaction, the vice president directly owned 44,789 shares in the company, valued at $4,274,214.27. This represents a 4.27% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jessica M. Hiebler sold 968 shares of the business's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $96.98, for a total value of $93,876.64. Following the completion of the sale, the insider owned 13,611 shares of the company's stock, valued at $1,319,994.78. The trade was a 6.64% decrease in their position. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by insiders.

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.