Boston Trust Walden Corp Trims Stake in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Boston Trust Walden Corp reduced its position in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 20.8% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 309,571 shares of the asset manager's stock after selling 81,355 shares during the period. Boston Trust Walden Corp owned 0.14% of T. Rowe Price Group worth $28,440,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Global X Japan Co. Ltd. lifted its holdings in shares of T. Rowe Price Group by 17.3% in the 1st quarter. Global X Japan Co. Ltd. now owns 5,447 shares of the asset manager's stock valued at $500,000 after purchasing an additional 803 shares during the last quarter. Steel Grove Capital Advisors LLC purchased a new stake in shares of T. Rowe Price Group in the 1st quarter valued at about $1,467,000. State of Alaska Department of Revenue lifted its holdings in shares of T. Rowe Price Group by 3.0% in the 1st quarter. State of Alaska Department of Revenue now owns 26,084 shares of the asset manager's stock valued at $2,396,000 after purchasing an additional 755 shares during the last quarter. Cushing Capital Partners LLC purchased a new stake in T. Rowe Price Group during the 1st quarter valued at approximately $759,000. Finally, San Luis Wealth Advisors LLC purchased a new stake in T. Rowe Price Group during the 1st quarter valued at approximately $514,000. 73.39% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have commented on TROW shares. Bank of America reduced their price objective on T. Rowe Price Group from $90.00 to $85.00 and set an "underperform" rating for the company in a research note on Thursday, April 3rd. 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. Citigroup reduced their price objective on T. Rowe Price Group from $100.00 to $95.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. JPMorgan Chase & Co. reduced their price objective on T. Rowe Price Group from $110.00 to $90.00 and set an "underweight" rating for the company in a research note on Wednesday, April 16th. Finally, Evercore ISI reduced their price objective on T. Rowe Price Group from $104.00 to $80.00 and set an "in-line" rating for the company in a research note on Friday, April 11th. Four analysts have rated the stock with a sell rating and nine have given a hold rating to the company's stock. According to data from MarketBeat.com, T. Rowe Price Group currently has a consensus rating of "Hold" and a consensus target price of $94.09.

T. Rowe Price Group Trading Up 0.6%

Shares of TROW stock opened at $92.14 on Friday. The company has a market cap of $20.30 billion, a price-to-earnings ratio of 10.45, a price-to-earnings-growth ratio of 2.99 and a beta of 1.49. The stock has a 50 day simple moving average of $92.11 and a 200-day simple moving average of $101.72. T. Rowe Price Group, Inc. has a 12-month low of $77.85 and a 12-month high of $125.81.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last issued its earnings results on Friday, May 2nd. The asset manager reported $2.23 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.13 by $0.10. The business had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.80 billion. T. Rowe Price Group had a return on equity of 20.17% and a net margin of 28.38%. The company's revenue for the quarter was up .8% on a year-over-year basis. During the same period in the prior year, the business posted $2.38 EPS. On average, equities 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 company also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 13th will be issued a $1.27 dividend. This represents a $5.08 dividend on an annualized basis and a dividend yield of 5.51%. The ex-dividend date of this dividend is Friday, June 13th. T. Rowe Price Group's dividend payout ratio is currently 57.60%.

Insider Buying and Selling

In related news, VP Dorothy C. Sawyer sold 2,000 shares of the company'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 value of $190,860.00. Following the sale, the vice president now owns 44,789 shares in the company, valued at $4,274,214.27. This represents a 4.27% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Robert F. Maclellan sold 3,955 shares of the company's stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $91.56, for a total value of $362,119.80. Following the completion of the sale, the director now owns 42,979 shares in the company, valued at approximately $3,935,157.24. This represents a 8.43% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 6,923 shares of company stock worth $646,856 in the last quarter. Company insiders own 2.00% of the company's stock.

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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