Boston Trust Walden Corp Lowers Stock Holdings in T. Rowe Price Group, Inc. $TROW

Key Points

• Boston Trust Walden Corp reduced its stake in T. Rowe Price Group by 7.8%, now holding approximately 285,330 shares valued at $27.5 million.
• Institutional investors, including Invesco Ltd. and Vanguard Group, significantly increased their holdings, with Invesco lifting their stake by 43.2%.
• T. Rowe Price Group recently announced a quarterly dividend of $1.27 per share, reflecting a 4.8% dividend yield.

Boston Trust Walden Corp reduced its position in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 7.8% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 285,330 shares of the asset manager's stock after selling 24,241 shares during the period. Boston Trust Walden Corp owned about 0.13% of T. Rowe Price Group worth $27,534,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TROW. Invesco Ltd. grew its stake in 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 worth $315,453,000 after acquiring an additional 1,035,865 shares during the period. Charles Schwab Investment Management Inc. grew its stake 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 acquiring an additional 519,075 shares during the period. Vanguard Group Inc. grew its stake in 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 worth $2,414,931,000 after acquiring an additional 222,556 shares during the period. Vest Financial LLC grew its stake in 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 worth $59,478,000 after acquiring an additional 146,382 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. grew its stake in T. Rowe Price Group by 505.5% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 172,709 shares of the asset manager's stock worth $15,867,000 after acquiring an additional 144,187 shares during the period. 73.39% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other T. Rowe Price Group news, Director Robert F. Maclellan sold 3,090 shares of the business's stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $105.01, for a total value of $324,480.90. Following the transaction, the director owned 47,335 shares in the company, valued at $4,970,648.35. The trade was a 6.13% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.60% of the stock is owned by corporate insiders.

T. Rowe Price Group Trading Up 0.7%

NASDAQ:TROW opened at $106.13 on Wednesday. The firm has a market capitalization of $23.32 billion, a price-to-earnings ratio of 11.86, a PEG ratio of 5.80 and a beta of 1.50. The firm's fifty day simple moving average is $105.82 and its 200 day simple moving average is $98.64. 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 posted its earnings results on Friday, August 1st. The asset manager reported $2.24 earnings per share for the quarter, beating the consensus estimate of $2.15 by $0.09. The business had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.72 billion. T. Rowe Price Group had a net margin of 28.72% and a return on equity of 19.77%. The business's quarterly revenue was down .6% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.26 EPS. On average, analysts predict that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current year.

T. Rowe Price Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Monday, September 15th were issued a dividend of $1.27 per share. The ex-dividend date was Monday, September 15th. This represents a $5.08 annualized dividend and a dividend yield of 4.8%. T. Rowe Price Group's payout ratio is presently 56.76%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on TROW shares. Zacks Research upgraded shares of T. Rowe Price Group from a "hold" rating to a "strong-buy" rating in a report on Friday, October 10th. Jefferies Financial Group increased their target price on T. Rowe Price Group from $104.00 to $106.00 and gave the stock a "hold" rating in a research report on Tuesday, October 7th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of T. Rowe Price Group in a research report on Wednesday, October 8th. Bank of America increased their target price on T. Rowe Price Group from $91.00 to $97.00 and gave the stock an "underperform" rating in a research report on Thursday, October 2nd. Finally, TD Cowen increased their target price on T. Rowe Price Group from $103.00 to $108.00 and gave the stock a "hold" rating in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, ten have assigned a Hold rating and four have given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Reduce" and a consensus price target of $106.38.

T. Rowe Price Group Company 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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