Toronto Dominion Bank Boosts Stock Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Toronto Dominion Bank lifted its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 39.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 104,835 shares of the asset manager's stock after purchasing an additional 29,908 shares during the quarter. Toronto Dominion Bank's holdings in T. Rowe Price Group were worth $11,856,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Sunbelt Securities Inc. raised its stake in T. Rowe Price Group by 23.4% in the 4th quarter. Sunbelt Securities Inc. now owns 3,242 shares of the asset manager's stock worth $369,000 after acquiring an additional 614 shares during the last quarter. JT Stratford LLC raised its stake in shares of T. Rowe Price Group by 4.5% in the fourth quarter. JT Stratford LLC now owns 15,354 shares of the asset manager's stock worth $1,736,000 after purchasing an additional 658 shares during the last quarter. Cornerstone Advisory LLC raised its stake in shares of T. Rowe Price Group by 21.2% in the fourth quarter. Cornerstone Advisory LLC now owns 84,146 shares of the asset manager's stock worth $9,018,000 after purchasing an additional 14,718 shares during the last quarter. McIlrath & Eck LLC raised its position in T. Rowe Price Group by 2,138.2% during the 4th quarter. McIlrath & Eck LLC now owns 761 shares of the asset manager's stock worth $86,000 after buying an additional 727 shares during the last quarter. Finally, Novem Group purchased a new position in T. Rowe Price Group during the 4th quarter worth approximately $291,000. 73.39% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at T. Rowe Price Group

In other news, Director Robert F. Maclellan sold 3,955 shares of the company's stock in a transaction on Monday, March 31st. The shares were sold at an average price of $91.56, for a total transaction of $362,119.80. Following the completion of the sale, the director now owns 42,979 shares of the company's stock, valued at $3,935,157.24. This represents a 8.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jessica M. Hiebler sold 968 shares of the company's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $96.98, for a total transaction of $93,876.64. Following the sale, the insider now directly owns 13,611 shares of the company's stock, valued at $1,319,994.78. The trade was a 6.64% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on TROW. Bank of America reduced their price target on shares of T. Rowe Price Group from $90.00 to $85.00 and set an "underperform" rating for the company in a research report on Thursday, April 3rd. Morgan Stanley raised their target price on shares of T. Rowe Price Group from $94.00 to $95.00 and gave the stock an "equal weight" rating in a report on Tuesday, May 6th. TD Cowen reduced their price objective on T. Rowe Price Group from $112.00 to $89.00 and set a "hold" rating for the company in a research note on Wednesday, April 9th. 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. Finally, Cowen reiterated a "hold" rating on shares of T. Rowe Price Group in a research note on Monday, May 5th. Four equities research analysts have rated the stock with a sell rating and nine have issued a hold rating to the company. Based on data from MarketBeat, T. Rowe Price Group presently has a consensus rating of "Hold" and a consensus target price of $94.09.

T. Rowe Price Group Stock Performance

Shares of T. Rowe Price Group stock traded down $1.44 on Monday, hitting $92.15. The company's stock had a trading volume of 1,686,937 shares, compared to its average volume of 1,496,929. T. Rowe Price Group, Inc. has a 1 year low of $77.85 and a 1 year high of $125.81. The firm has a fifty day moving average price of $90.62 and a 200-day moving average price of $103.97. The company has a market capitalization of $20.30 billion, a price-to-earnings ratio of 10.06, a price-to-earnings-growth ratio of 2.86 and a beta of 1.50.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last posted its quarterly earnings data on Friday, May 2nd. The asset manager reported $2.23 EPS for the quarter, beating analysts' consensus estimates of $2.13 by $0.10. The business had revenue of $1.76 billion during the quarter, compared to analysts' expectations of $1.80 billion. T. Rowe Price Group had a return on equity of 20.83% and a net margin of 29.61%. The business's revenue was up .8% compared to the same quarter last year. During the same period in the previous year, the business earned $2.38 earnings per share. As a group, analysts forecast that T. Rowe Price Group, Inc. will post 9.29 EPS for the current year.

T. Rowe Price Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 13th will be paid a dividend of $1.27 per share. The ex-dividend date is Friday, June 13th. This represents a $5.08 dividend on an annualized basis and a dividend yield of 5.51%. T. Rowe Price Group's dividend payout ratio is currently 57.60%.

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.