T. Rowe Price Group, Inc. (NASDAQ:TROW) Stock Holdings Trimmed by Congress Asset Management Co.

Congress Asset Management Co. reduced its position in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 5.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 132,396 shares of the asset manager's stock after selling 6,923 shares during the quarter. Congress Asset Management Co. owned approximately 0.06% of T. Rowe Price Group worth $12,163,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in T. Rowe Price Group by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 26,063,837 shares of the asset manager's stock valued at $2,947,559,000 after buying an additional 135,203 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in T. Rowe Price Group by 5.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 7,187,176 shares of the asset manager's stock valued at $812,798,000 after acquiring an additional 346,369 shares during the period. Fayez Sarofim & Co boosted its stake in T. Rowe Price Group by 7.6% in the fourth quarter. Fayez Sarofim & Co now owns 6,052,469 shares of the asset manager's stock valued at $684,474,000 after acquiring an additional 425,142 shares during the period. Geode Capital Management LLC boosted its stake in T. Rowe Price Group by 2.1% in the fourth quarter. Geode Capital Management LLC now owns 5,631,429 shares of the asset manager's stock valued at $635,260,000 after acquiring an additional 116,231 shares during the period. Finally, Provident Trust Co. boosted its stake in T. Rowe Price Group by 8.9% in the fourth quarter. Provident Trust Co. now owns 2,611,294 shares of the asset manager's stock valued at $295,311,000 after acquiring an additional 213,566 shares during the period. 73.39% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

TROW has been the subject of a number of research reports. Morgan Stanley lifted their target price on T. Rowe Price Group from $94.00 to $95.00 and gave the company an "equal weight" rating in a research note on Tuesday, May 6th. Bank of America decreased their target price on T. Rowe Price Group from $90.00 to $85.00 and set an "underperform" rating for the company in a research note on Thursday, April 3rd. JPMorgan Chase & Co. decreased their target price on T. Rowe Price Group from $110.00 to $90.00 and set an "underweight" rating for the company in a research note on Wednesday, April 16th. Cowen restated a "hold" rating on shares of T. Rowe Price Group in a research note on Monday, May 5th. Finally, The Goldman Sachs Group decreased their target price 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. Four equities research analysts have rated the stock with a sell rating and nine have issued a hold rating to the stock. Based on data from MarketBeat.com, T. Rowe Price Group presently has a consensus rating of "Hold" and an average target price of $94.09.

Insider Buying and Selling

In related news, Director Robert F. Maclellan sold 3,955 shares of the business's stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $91.56, for a total transaction of $362,119.80. Following the sale, the director now owns 42,979 shares of the company's stock, valued at $3,935,157.24. The trade was a 8.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jessica M. Hiebler sold 968 shares of the business's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $96.98, for a total value of $93,876.64. Following the sale, the insider now directly owns 13,611 shares in the company, valued at approximately $1,319,994.78. The trade was a 6.64% decrease in their position. The disclosure for this sale can be found here. 2.00% of the stock is owned by corporate insiders.

T. Rowe Price Group Price Performance

Shares of NASDAQ:TROW opened at $94.28 on Friday. T. Rowe Price Group, Inc. has a 12 month low of $77.85 and a 12 month high of $125.81. The stock has a market cap of $20.77 billion, a price-to-earnings ratio of 10.29, a PEG ratio of 2.86 and a beta of 1.49. The stock's 50 day moving average price is $90.71 and its 200 day moving average price is $103.39.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last announced its earnings results on Friday, May 2nd. The asset manager reported $2.23 EPS for the quarter, topping the consensus estimate of $2.13 by $0.10. T. Rowe Price Group had a return on equity of 20.83% and a net margin of 29.61%. The firm had revenue of $1.76 billion for the quarter, compared to analysts' expectations of $1.80 billion. During the same quarter in the previous year, the company earned $2.38 earnings per share. The firm's quarterly revenue was up .8% compared to the same quarter last year. On average, sell-side analysts expect that T. Rowe Price Group, Inc. will post 9.29 EPS for the current year.

T. Rowe Price Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 13th will be issued a dividend of $1.27 per share. The ex-dividend date is Friday, June 13th. This represents a $5.08 annualized dividend and a yield of 5.39%. T. Rowe Price Group's payout ratio is 57.60%.

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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