D.A. Davidson & CO. Reduces Position in T. Rowe Price Group, Inc. $TROW

D.A. Davidson & CO. lessened its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 11.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 97,612 shares of the asset manager's stock after selling 12,822 shares during the quarter. D.A. Davidson & CO.'s holdings in T. Rowe Price Group were worth $9,420,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of TROW. Invesco Ltd. boosted its stake in shares of T. Rowe Price Group by 43.2% during 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 last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of T. Rowe Price Group by 7.2% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 7,706,251 shares of the asset manager's stock valued at $707,973,000 after buying an additional 519,075 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of T. Rowe Price Group during the 2nd quarter valued at $37,722,000. Vanguard Group Inc. lifted its stake in shares of T. Rowe Price Group by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 26,286,393 shares of the asset manager's stock valued at $2,414,931,000 after buying an additional 222,556 shares in the last quarter. Finally, Vest Financial LLC lifted its stake in shares of T. Rowe Price Group by 31.1% during the 2nd quarter. Vest Financial LLC now owns 616,351 shares of the asset manager's stock valued at $59,478,000 after buying an additional 146,382 shares in the last quarter. Hedge funds and other institutional investors own 73.39% of the company's stock.

Insider Buying and Selling at T. Rowe Price Group

In other news, Director Robert F. Maclellan sold 3,090 shares of the business's stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $105.01, for a total value of $324,480.90. Following the sale, the director directly owned 47,335 shares in the company, valued at $4,970,648.35. The trade was a 6.13% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 2.00% of the stock is currently owned by company insiders.

T. Rowe Price Group Stock Down 1.4%

T. Rowe Price Group stock opened at $102.76 on Thursday. The company's 50-day moving average price is $105.55 and its 200-day moving average price is $99.18. T. Rowe Price Group, Inc. has a twelve month low of $77.85 and a twelve month high of $125.81. The company has a market cap of $22.58 billion, a PE ratio of 11.48, a price-to-earnings-growth ratio of 5.72 and a beta of 1.50.

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, topping 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 19.77%. The firm had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.72 billion. During the same period in the previous year, the firm posted $2.26 EPS. The business's quarterly revenue was down .6% on a year-over-year basis. As a group, sell-side analysts expect 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 firm also recently announced a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Monday, September 15th were issued a $1.27 dividend. The ex-dividend date was Monday, September 15th. This represents a $5.08 dividend on an annualized basis and a dividend yield of 4.9%. T. Rowe Price Group's payout ratio is 56.76%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Barclays lifted their target price on shares of T. Rowe Price Group from $95.00 to $103.00 and gave the company an "underweight" rating in a research note on Tuesday. Jefferies Financial Group lifted their target price on shares of T. Rowe Price Group from $104.00 to $106.00 and gave the company a "hold" rating in a research note on Tuesday, October 7th. TD Cowen lifted their price target on shares of T. Rowe Price Group from $103.00 to $108.00 and gave the company a "hold" rating in a report on Wednesday, October 8th. 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. Finally, Wells Fargo & Company lifted their price target on shares of T. Rowe Price Group from $98.00 to $108.00 and gave the company an "equal weight" rating in a report on Friday, July 11th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, ten have assigned a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Reduce" and a consensus price target of $107.54.

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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