Zurcher Kantonalbank Zurich Cantonalbank Has $4.85 Million Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Key Points

• Zurcher Kantonalbank increased its stake in T. Rowe Price Group by 8.6%, bringing its total shares to 52,739, worth approximately $4.85 million.
• T. Rowe Price Group reported a quarterly EPS of $2.23, exceeding analysts' expectations of $2.13, although its revenue of $1.76 billion fell short of predictions.
• The firm announced a quarterly dividend of $1.27, resulting in an annualized yield of 5.0% and a dividend payout ratio of 57.60%.

Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 8.6% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 52,739 shares of the asset manager's stock after purchasing an additional 4,184 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in T. Rowe Price Group were worth $4,845,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Empirical Finance LLC lifted its position in shares of T. Rowe Price Group by 3.1% during the first quarter. Empirical Finance LLC now owns 7,930 shares of the asset manager's stock worth $729,000 after purchasing an additional 238 shares in the last quarter. TD Asset Management Inc lifted its position in shares of T. Rowe Price Group by 0.3% during the first quarter. TD Asset Management Inc now owns 85,806 shares of the asset manager's stock worth $7,883,000 after purchasing an additional 254 shares in the last quarter. Mediolanum International Funds Ltd lifted its position in shares of T. Rowe Price Group by 468.1% during the first quarter. Mediolanum International Funds Ltd now owns 84,425 shares of the asset manager's stock worth $7,731,000 after purchasing an additional 69,565 shares in the last quarter. Avantax Advisory Services Inc. lifted its position in shares of T. Rowe Price Group by 20.8% during the first quarter. Avantax Advisory Services Inc. now owns 6,142 shares of the asset manager's stock worth $564,000 after purchasing an additional 1,059 shares in the last quarter. Finally, FreeGulliver LLC bought a new stake in shares of T. Rowe Price Group in the first quarter worth $212,000. 73.39% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on TROW. TD Cowen dropped their price target on shares of 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. Wells Fargo & Company lifted their price target on shares of T. Rowe Price Group from $98.00 to $108.00 and gave the stock an "equal weight" rating in a research note on Friday, July 11th. Cowen restated a "hold" rating on shares of T. Rowe Price Group in a research note on Monday, May 5th. Citigroup lowered their target price on shares of T. Rowe Price Group from $100.00 to $95.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. Finally, 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. Four research analysts have rated the stock with a sell rating and nine have assigned a hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $101.09.

Insider Buying and Selling

In related news, insider Jessica M. Hiebler sold 968 shares of T. Rowe Price Group 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 owned 13,611 shares of the company's stock, valued at approximately $1,319,994.78. This trade represents a 6.64% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Dorothy C. Sawyer sold 2,000 shares of the business's stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $95.43, for a total value of $190,860.00. Following the transaction, the vice president directly owned 44,789 shares in the company, valued at $4,274,214.27. This trade represents a 4.27% decrease in their position. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by company insiders.

T. Rowe Price Group Price Performance

Shares of NASDAQ:TROW traded down $0.16 during midday trading on Tuesday, reaching $105.78. The company's stock had a trading volume of 582,949 shares, compared to its average volume of 1,839,519. T. Rowe Price Group, Inc. has a fifty-two week low of $77.85 and a fifty-two week high of $125.81. The company has a market capitalization of $23.31 billion, a P/E ratio of 11.82, a P/E/G ratio of 3.03 and a beta of 1.47. The business's fifty day simple moving average is $98.64 and its 200-day simple moving average is $98.16.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last announced its quarterly earnings data on Friday, August 1st. The asset manager reported $2.24 EPS for the quarter, topping analysts' consensus estimates of $2.15 by $0.09. T. Rowe Price Group had a return on equity of 19.84% and a net margin of 28.72%. The firm had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.72 billion. During the same period last year, the company earned $2.26 earnings per share. The company's revenue was down .6% on a year-over-year basis. On average, analysts forecast that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Friday, June 13th were given a $1.27 dividend. This represents a $5.08 dividend on an annualized basis and a yield of 4.8%. The ex-dividend date of this dividend was Friday, June 13th. T. Rowe Price Group's dividend payout ratio (DPR) is currently 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.