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 its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 13,387 shares of the asset manager's stock, valued at approximately $1,230,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Hexagon Capital Partners LLC lifted its holdings in shares of T. Rowe Price Group by 44.8% in the 1st quarter. Hexagon Capital Partners LLC now owns 365 shares of the asset manager's stock valued at $34,000 after purchasing an additional 113 shares during the last quarter. Smallwood Wealth Investment Management LLC acquired a new position in T. Rowe Price Group during the first quarter worth approximately $39,000. Chilton Capital Management LLC purchased a new stake in T. Rowe Price Group in the first quarter valued at approximately $41,000. Ameriflex Group Inc. acquired a new stake in shares of T. Rowe Price Group in the fourth quarter valued at approximately $42,000. Finally, Wayfinding Financial LLC purchased a new position in shares of T. Rowe Price Group during the first quarter worth approximately $43,000. 73.39% of the stock is currently owned by institutional investors and hedge funds.

T. Rowe Price Group Price Performance

TROW opened at $101.45 on Friday. T. Rowe Price Group, Inc. has a 12 month low of $77.85 and a 12 month high of $125.81. The stock has a market capitalization of $22.35 billion, a P/E ratio of 11.50, a P/E/G ratio of 3.06 and a beta of 1.49. The business has a 50 day simple moving average of $98.18 and a 200-day simple moving average of $98.48.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last released its quarterly earnings data on Friday, May 2nd. The asset manager reported $2.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.13 by $0.10. The firm had revenue of $1.76 billion during the quarter, compared to analysts' expectations of $1.80 billion. T. Rowe Price Group had a return on equity of 20.17% and a net margin of 28.38%. T. Rowe Price Group's revenue was up .8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.38 earnings per share. Research analysts anticipate that T. Rowe Price Group, Inc. will post 9.29 EPS for the current year.

T. Rowe Price Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Friday, June 13th were paid a $1.27 dividend. The ex-dividend date was Friday, June 13th. This represents a $5.08 annualized dividend and a dividend yield of 5.0%. T. Rowe Price Group's dividend payout ratio (DPR) is 57.60%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on TROW shares. JPMorgan Chase & Co. upped their price target on shares of T. Rowe Price Group from $90.00 to $98.00 and gave the company an "underweight" rating in a research report on Wednesday, July 16th. Evercore ISI reduced their target price on shares of T. Rowe Price Group from $104.00 to $80.00 and set an "in-line" rating for the company in a report on Friday, April 11th. Barclays increased their target price on shares of T. Rowe Price Group from $90.00 to $91.00 and gave the stock an "underweight" rating in a research note on Wednesday, July 16th. Citigroup dropped their price target on T. Rowe Price Group from $100.00 to $95.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Finally, The Goldman Sachs Group reduced their price objective on T. Rowe Price Group from $89.00 to $80.00 and set a "sell" rating for the company in a research note on Monday, April 14th. Four research analysts have rated the stock with a sell rating and nine have issued a hold rating to the stock. According to MarketBeat.com, T. Rowe Price Group presently has an average rating of "Hold" and a consensus price target of $96.64.

Insider Activity

In related news, insider Jessica M. Hiebler sold 968 shares of the business's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $96.98, for a total transaction of $93,876.64. Following the sale, the insider owned 13,611 shares of the company's stock, valued at approximately $1,319,994.78. The trade was a 6.64% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Dorothy C. Sawyer sold 2,000 shares of the company's stock in a transaction dated 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 owned 44,789 shares in the company, valued at $4,274,214.27. The trade was a 4.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is owned by company insiders.

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.

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