L. Roy Papp & Associates LLP Trims Position in T. Rowe Price Group, Inc. $TROW

Key Points

• L. Roy Papp & Associates LLP has reduced its holdings in T. Rowe Price Group by 24.1%, now owning approximately 0.06% of the company worth $12.1 million.
• In the first quarter, several institutional investors, including Invesco and Charles Schwab, increased their stakes in T. Rowe Price Group, indicating a shifting investment interest in the firm.
• Analysts have set new price targets for T. Rowe Price Group, with Goldman Sachs increasing its target to $125.00, while Zacks downgraded it to a "hold" rating, reflecting mixed investor sentiment.

L. Roy Papp & Associates LLP decreased its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 24.1% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 125,826 shares of the asset manager's stock after selling 40,047 shares during the period. T. Rowe Price Group accounts for approximately 1.4% of L. Roy Papp & Associates LLP's portfolio, making the stock its 18th largest holding. L. Roy Papp & Associates LLP owned approximately 0.06% of T. Rowe Price Group worth $12,142,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of TROW. Invesco Ltd. lifted its stake in shares of T. Rowe Price Group by 43.2% during the first quarter. Invesco Ltd. now owns 3,433,684 shares of the asset manager's stock valued at $315,453,000 after buying an additional 1,035,865 shares during the period. Charles Schwab Investment Management Inc. raised its stake in T. Rowe Price Group by 7.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 7,706,251 shares of the asset manager's stock worth $707,973,000 after purchasing an additional 519,075 shares during the period. Vanguard Group Inc. raised its stake in T. Rowe Price Group by 0.9% during the first quarter. Vanguard Group Inc. now owns 26,286,393 shares of the asset manager's stock worth $2,414,931,000 after purchasing an additional 222,556 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its stake in T. Rowe Price Group by 505.5% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 172,709 shares of the asset manager's stock worth $15,867,000 after purchasing an additional 144,187 shares during the period. Finally, American Century Companies Inc. raised its stake in T. Rowe Price Group by 4.9% during the first quarter. American Century Companies Inc. now owns 2,955,703 shares of the asset manager's stock worth $271,541,000 after purchasing an additional 138,515 shares during the period. Hedge funds and other institutional investors own 73.39% of the company's stock.

Analysts Set New Price Targets

A number of research firms have weighed in on TROW. JPMorgan Chase & Co. increased their price target 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, August 4th. BMO Capital Markets began coverage on shares of T. Rowe Price Group in a research note on Friday, October 3rd. They set a "market perform" rating and a $108.00 price target on the stock. Weiss Ratings reaffirmed a "hold (c)" rating on shares of T. Rowe Price Group in a research note on Wednesday. Morgan Stanley increased their price target on shares of T. Rowe Price Group from $116.00 to $125.00 and gave the stock a "positive" rating in a research note on Monday. Finally, Zacks Research downgraded shares of T. Rowe Price Group from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 8th. One investment analyst has rated the stock with a Buy rating, eleven have given a Hold rating and four have given a Sell rating to the company's stock. According to data from MarketBeat.com, T. Rowe Price Group presently has an average rating of "Reduce" and a consensus target price of $104.69.

Insiders Place Their Bets

In related news, Director Robert F. Maclellan sold 3,090 shares of the firm's stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $105.01, for a total transaction of $324,480.90. Following the completion of the sale, the director directly owned 47,335 shares of the company's stock, valued at approximately $4,970,648.35. This trade represents a 6.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.00% of the company's stock.

T. Rowe Price Group Trading Up 0.2%

Shares of TROW stock opened at $106.01 on Friday. The company's fifty day simple moving average is $105.85 and its 200-day simple moving average is $98.39. T. Rowe Price Group, Inc. has a 52 week low of $77.85 and a 52 week high of $125.81. The company has a market cap of $23.29 billion, a PE ratio of 11.84, a P/E/G ratio of 6.83 and a beta of 1.50.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last issued its earnings results on Friday, August 1st. The asset manager reported $2.24 EPS 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 19.77%. The business had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.72 billion. During the same quarter last year, the firm posted $2.26 EPS. The business's revenue for the quarter was down .6% compared to the same quarter last year. Equities research analysts expect that T. Rowe Price Group, Inc. will post 9.29 EPS for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The company also recently declared 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. This represents a $5.08 dividend on an annualized basis and a yield of 4.8%. The ex-dividend date of this dividend was Monday, September 15th. T. Rowe Price Group's dividend payout ratio (DPR) is presently 56.76%.

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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