T. Rowe Price Group, Inc. $TROW Stake Lessened by Vontobel Holding Ltd.

Key Points

• Vontobel Holding Ltd. has reduced its stake in T. Rowe Price Group by 40.3%, holding 11,164 shares valued at approximately $1,077,000 after selling 7,542 shares in the second quarter.
• Multiple hedge funds, including Park Avenue Securities and Farther Finance Advisors, have increased their holdings in T. Rowe Price Group, indicating a mixed response from institutional investors towards the company.
• Analysts have set new price targets for T. Rowe Price Group, with a consensus rating of "Reduce" and an average price target of $106.15, showing a cautious outlook on the stock.

Vontobel Holding Ltd. lessened its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 40.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,164 shares of the asset manager's stock after selling 7,542 shares during the period. Vontobel Holding Ltd.'s holdings in T. Rowe Price Group were worth $1,077,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in TROW. Park Avenue Securities LLC increased its stake in shares of T. Rowe Price Group by 16.5% in the first quarter. Park Avenue Securities LLC now owns 4,879 shares of the asset manager's stock worth $448,000 after buying an additional 691 shares during the last quarter. Farther Finance Advisors LLC increased its stake in T. Rowe Price Group by 75.8% during the first quarter. Farther Finance Advisors LLC now owns 7,949 shares of the asset manager's stock valued at $733,000 after purchasing an additional 3,427 shares during the last quarter. GAMMA Investing LLC increased its stake in T. Rowe Price Group by 5.1% during the first quarter. GAMMA Investing LLC now owns 3,627 shares of the asset manager's stock valued at $333,000 after purchasing an additional 176 shares during the last quarter. Integrated Advisors Network LLC bought a new stake in T. Rowe Price Group during the first quarter valued at $271,000. Finally, CX Institutional bought a new stake in T. Rowe Price Group during the first quarter valued at $57,000. Institutional investors own 73.39% of the company's stock.

Analysts Set New Price Targets

Several analysts have weighed in on TROW shares. Bank of America boosted their target price on shares of T. Rowe Price Group from $91.00 to $97.00 and gave the company an "underperform" rating in a research note on Thursday, October 2nd. Weiss Ratings reiterated a "hold (c)" rating on shares of T. Rowe Price Group in a research note on Wednesday, October 8th. The Goldman Sachs Group boosted their target price on shares of T. Rowe Price Group from $91.00 to $92.00 and gave the company a "sell" rating in a research note on Friday, October 3rd. Keefe, Bruyette & Woods boosted 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. Finally, JPMorgan Chase & Co. boosted 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. One equities research analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and four have issued a Sell rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Reduce" and an average price target of $106.15.

Insiders Place Their Bets

In related news, Director Robert F. Maclellan sold 3,090 shares of the company's stock in a transaction dated 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 sale, the director owned 47,335 shares of the company's stock, valued at $4,970,648.35. This represents a 6.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 1.60% of the stock is owned by insiders.

T. Rowe Price Group Stock Performance

Shares of TROW opened at $101.43 on Monday. 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 market cap of $22.29 billion, a price-to-earnings ratio of 11.33, a price-to-earnings-growth ratio of 6.51 and a beta of 1.50. The firm has a fifty day moving average of $105.82 and a 200-day moving average of $98.49.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last announced its quarterly earnings results on Friday, August 1st. The asset manager reported $2.24 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.72 billion. During the same quarter in the previous year, the company posted $2.26 earnings per share. The company's revenue for the quarter was down .6% compared to the same quarter last year. Analysts predict that T. Rowe Price Group, Inc. will post 9.29 EPS for the current year.

T. Rowe Price Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Monday, September 15th were issued a $1.27 dividend. The ex-dividend date of this dividend was Monday, September 15th. This represents a $5.08 annualized dividend and a yield of 5.0%. T. Rowe Price Group's dividend payout ratio is presently 56.76%.

About T. Rowe Price Group

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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