ST Germain D J Co. Inc. Has $4.02 Million Position in T. Rowe Price Group, Inc. $TROW

Key Points

• ST Germain D J Co. Inc. increased its position in T. Rowe Price Group, Inc. by 21.8% during the second quarter, bringing their holdings to 41,689 shares valued at $4.02 million.
• Analysts have mixed views on the stock, with target prices ranging from $102.00 to $116.00, and a consensus rating of "Reduce" according to the latest reports.
• T. Rowe Price Group announced a quarterly dividend of $1.27 per share, equivalent to an annual yield of 4.9%, which will be paid on September 29th.

ST Germain D J Co. Inc. boosted its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 21.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 41,689 shares of the asset manager's stock after buying an additional 7,473 shares during the period. ST Germain D J Co. Inc.'s holdings in T. Rowe Price Group were worth $4,023,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Zions Bancorporation National Association UT acquired a new position in T. Rowe Price Group in the first quarter valued at approximately $27,000. Hexagon Capital Partners LLC increased its stake in T. Rowe Price Group by 44.8% in the first 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 in the last quarter. Smallwood Wealth Investment Management LLC bought a new stake in T. Rowe Price Group in the first quarter valued at approximately $39,000. Chilton Capital Management LLC bought a new stake in T. Rowe Price Group in the first quarter valued at approximately $41,000. Finally, Ameriflex Group Inc. bought a new stake in T. Rowe Price Group in the fourth quarter valued at approximately $42,000. 73.39% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on TROW shares. JPMorgan Chase & Co. upped their target price on shares of T. Rowe Price Group from $98.00 to $102.00 and gave the company an "underweight" rating in a research note on Monday, August 4th. Keefe, Bruyette & Woods upped their target price on shares of T. Rowe Price Group from $110.00 to $112.00 and gave the company a "market perform" rating in a research note on Monday, August 4th. Morgan Stanley upped their target price on shares of T. Rowe Price Group from $112.00 to $116.00 and gave the company an "equal weight" rating in a research note on Monday, August 4th. 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. Finally, Wells Fargo & Company increased their target price on T. Rowe Price Group from $98.00 to $108.00 and gave the stock an "equal weight" rating in a report on Friday, July 11th. One analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Reduce" and a consensus price target of $101.55.

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 value of $324,480.90. Following the completion of the transaction, the director 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.00% of the company's stock.

T. Rowe Price Group Trading Down 0.2%

T. Rowe Price Group stock opened at $103.21 on Friday. The company has a market cap of $22.68 billion, a P/E ratio of 11.53, a price-to-earnings-growth ratio of 2.68 and a beta of 1.51. T. Rowe Price Group, Inc. has a 1-year low of $77.85 and a 1-year high of $125.81. The company has a fifty day simple moving average of $106.17 and a 200 day simple moving average of $97.70.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last released its earnings results on Friday, August 1st. The asset manager reported $2.24 earnings per share for the quarter, beating analysts' consensus estimates of $2.15 by $0.09. The business had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.72 billion. T. Rowe Price Group had a net margin of 28.72% and a return on equity of 19.77%. The firm's revenue for the quarter was down .6% compared to the same quarter last year. During the same quarter last year, the firm earned $2.26 earnings per share. On average, equities research analysts forecast that T. Rowe Price Group, Inc. will post 9.29 EPS for the current year.

T. Rowe Price Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Monday, September 15th will be given a $1.27 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $5.08 dividend on an annualized basis and a yield of 4.9%. T. Rowe Price Group's dividend payout ratio (DPR) is 56.76%.

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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