D.A. Davidson & CO. Decreases Stake in T. Rowe Price Group, Inc. $TROW

D.A. Davidson & CO. trimmed its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 6.7% during the 1st quarter, Holdings Channel.com reports. The firm owned 92,985 shares of the asset manager’s stock after selling 6,625 shares during the period. D.A. Davidson & CO.’s holdings in T. Rowe Price Group were worth $8,382,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Woodline Partners LP lifted its stake in T. Rowe Price Group by 41.0% in the 1st quarter. Woodline Partners LP now owns 18,809 shares of the asset manager’s stock valued at $1,728,000 after buying an additional 5,467 shares in the last quarter. Focus Partners Wealth boosted its position in T. Rowe Price Group by 10.6% during the first quarter. Focus Partners Wealth now owns 13,054 shares of the asset manager’s stock worth $1,199,000 after acquiring an additional 1,250 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of T. Rowe Price Group by 44.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,546 shares of the asset manager’s stock worth $149,000 after purchasing an additional 478 shares during the last quarter. Jump Financial LLC purchased a new stake in shares of T. Rowe Price Group in the second quarter valued at about $931,000. Finally, Daiwa Securities Group Inc. grew its position in T. Rowe Price Group by 5.4% in the second quarter. Daiwa Securities Group Inc. now owns 33,245 shares of the asset manager’s stock worth $3,208,000 after acquiring an additional 1,703 shares during the period. 73.39% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, VP Stephon A. Jackson sold 3,000 shares of T. Rowe Price Group stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $102.56, for a total value of $307,680.00. Following the sale, the vice president directly owned 83,883 shares in the company, valued at $8,603,040.48. This trade represents a 3.45% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.60% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Weiss Ratings upgraded shares of T. Rowe Price Group from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, July 2nd. TD Cowen lifted their price target on T. Rowe Price Group from $93.00 to $94.00 and gave the stock a “hold” rating in a report on Friday, May 1st. Evercore set a $121.00 price objective on T. Rowe Price Group in a report on Friday, July 10th. Barclays raised their target price on shares of T. Rowe Price Group from $89.00 to $108.00 and gave the stock an “underweight” rating in a research report on Tuesday. Finally, Morgan Stanley boosted their target price on T. Rowe Price Group from $105.00 to $109.00 and gave the company an “equal weight” rating in a report on Friday, June 26th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat, T. Rowe Price Group has a consensus rating of “Reduce” and an average price target of $103.42.

T. Rowe Price Group Stock Down 1.3%

Shares of TROW opened at $117.35 on Friday. The firm has a market cap of $25.14 billion, a PE ratio of 12.58, a price-to-earnings-growth ratio of 4.28 and a beta of 1.47. The company’s fifty day moving average is $108.85 and its two-hundred day moving average is $101.32. T. Rowe Price Group, Inc. has a fifty-two week low of $85.22 and a fifty-two week high of $121.17.

T. Rowe Price Group (NASDAQ:TROW) last issued its earnings results on Thursday, April 30th. The asset manager reported $2.52 earnings per share for the quarter, topping the consensus estimate of $2.37 by $0.15. The company had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.85 billion. T. Rowe Price Group had a return on equity of 20.60% and a net margin of 28.28%.The company’s revenue was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.23 earnings per share. As a group, equities research analysts anticipate that T. Rowe Price Group, Inc. will post 10.07 earnings per share for the current year.

T. Rowe Price Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 29th. Investors of record on Monday, June 15th were paid a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date was Monday, June 15th. T. Rowe Price Group’s dividend payout ratio is presently 55.73%.

About T. Rowe Price Group

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.