Steigerwald Gordon & Koch Inc. Decreases Stock Position in T. Rowe Price Group, Inc. $TROW

Key Points

• Steigerwald Gordon & Koch reduced its T. Rowe Price Group stake by 29.6% in the first quarter, selling 29,754 shares and ending with 70,715 shares valued at about $6.37 million.
• Analyst sentiment remains cautious: several firms adjusted price targets, and the stock currently carries a consensus “Reduce” rating with an average target price of $100.54.
• T. Rowe Price reported stronger-than-expected earnings of $2.52 per share on $1.86 billion in revenue and also paid a quarterly dividend of $1.30 per share, equal to a 4.4% yield.

Steigerwald Gordon & Koch Inc. lessened its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 29.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 70,715 shares of the asset manager's stock after selling 29,754 shares during the period. Steigerwald Gordon & Koch Inc.'s holdings in T. Rowe Price Group were worth $6,374,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in TROW. MTM Investment Management LLC raised its stake in T. Rowe Price Group by 3.5% in the 4th quarter. MTM Investment Management LLC now owns 3,167 shares of the asset manager's stock valued at $324,000 after acquiring an additional 107 shares during the period. GenTrust LLC boosted its position in T. Rowe Price Group by 5.5% during the fourth quarter. GenTrust LLC now owns 2,114 shares of the asset manager's stock worth $216,000 after purchasing an additional 110 shares during the period. Fiduciary Trust Co boosted its position in T. Rowe Price Group by 4.5% during the third quarter. Fiduciary Trust Co now owns 2,579 shares of the asset manager's stock worth $265,000 after purchasing an additional 111 shares during the period. 1834 Investment Advisors Co. increased its stake in shares of T. Rowe Price Group by 0.3% in the fourth quarter. 1834 Investment Advisors Co. now owns 37,490 shares of the asset manager's stock worth $3,838,000 after purchasing an additional 115 shares in the last quarter. Finally, Allworth Financial LP increased its stake in shares of T. Rowe Price Group by 2.1% in the fourth quarter. Allworth Financial LP now owns 5,541 shares of the asset manager's stock worth $567,000 after purchasing an additional 115 shares in the last quarter. Hedge funds and other institutional investors own 73.39% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Jefferies Financial Group dropped their price target on shares of T. Rowe Price Group from $107.00 to $91.00 and set a "hold" rating on the stock in a research note on Wednesday, April 8th. Keefe, Bruyette & Woods lifted their price objective on shares of T. Rowe Price Group from $95.00 to $107.00 and gave the company a "market perform" rating in a research note on Friday, May 1st. TD Cowen boosted their target price on shares of T. Rowe Price Group from $93.00 to $94.00 and gave the company a "hold" rating in a report on Friday, May 1st. The Goldman Sachs Group raised their price target on T. Rowe Price Group from $90.00 to $92.00 and gave the stock a "sell" rating in a report on Tuesday, June 30th. Finally, Barclays lifted their price target on T. Rowe Price Group from $87.00 to $89.00 and gave the company an "underweight" rating in a research report on Friday, May 1st. Eleven research analysts have rated the stock with a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Reduce" and an average target price of $100.54.

Insider Activity

In related news, VP Stephon A. Jackson sold 3,000 shares of T. Rowe Price Group stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $102.56, for a total transaction of $307,680.00. Following the completion of the sale, the vice president owned 83,883 shares of the company's stock, valued at approximately $8,603,040.48. This trade represents a 3.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.60% of the company's stock.

T. Rowe Price Group Stock Performance

TROW stock opened at $118.55 on Friday. The firm has a 50 day moving average of $105.76 and a 200-day moving average of $100.36. The firm has a market capitalization of $25.40 billion, a P/E ratio of 12.71, a price-to-earnings-growth ratio of 6.02 and a beta of 1.47. T. Rowe Price Group, Inc. has a 12 month low of $85.22 and a 12 month high of $118.64.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last posted its earnings results on Thursday, April 30th. The asset manager reported $2.52 earnings per share for the quarter, topping analysts' consensus estimates of $2.37 by $0.15. T. Rowe Price Group had a net margin of 28.28% and a return on equity of 20.60%. The business had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.85 billion. During the same quarter in the prior year, the firm posted $2.23 EPS. T. Rowe Price Group's revenue was up 5.3% on a year-over-year basis. Sell-side analysts predict that T. Rowe Price Group, Inc. will post 9.69 EPS for the current year.

T. Rowe Price Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 29th. Stockholders of record on Monday, June 15th were issued a $1.30 dividend. The ex-dividend date of this dividend was Monday, June 15th. This represents a $5.20 annualized dividend and a dividend yield of 4.4%. T. Rowe Price Group's dividend payout ratio is presently 55.73%.

T. Rowe Price Group Company Profile

T. Rowe Price Group, Inc is a global investment management firm headquartered in Baltimore, Maryland, founded by Thomas Rowe Price Jr. in 1937. The company provides a broad range of investment products and services for individual investors, financial intermediaries, retirement plan sponsors and institutional clients. Its offerings are built around active investment management and in-house research across equity, fixed income and multi-asset strategies, reflecting a long history as a research-driven asset manager.

The firm's product lineup includes mutual funds, separate accounts, collective investment trusts, target-date and target-risk funds, and managed account solutions, as well as services for defined contribution and defined benefit retirement plans.

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