Raymond James Trust N.A. Decreases Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Raymond James Trust N.A. cut its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 8.5% in the 1st quarter, Holdings Channel reports. The institutional investor owned 8,513 shares of the asset manager’s stock after selling 795 shares during the quarter. Raymond James Trust N.A.’s holdings in T. Rowe Price Group were worth $1,461,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Northeast Investment Management raised its holdings in shares of T. Rowe Price Group by 7.2% during the fourth quarter. Northeast Investment Management now owns 125,644 shares of the asset manager’s stock valued at $19,021,000 after purchasing an additional 8,457 shares during the last quarter. O Shares Investment Advisers LLC raised its holdings in shares of T. Rowe Price Group by 9.9% during the fourth quarter. O Shares Investment Advisers LLC now owns 26,731 shares of the asset manager’s stock valued at $4,047,000 after purchasing an additional 2,408 shares during the last quarter. Fort Washington Investment Advisors Inc. OH raised its holdings in shares of T. Rowe Price Group by 6.5% during the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 100,626 shares of the asset manager’s stock valued at $15,234,000 after purchasing an additional 6,117 shares during the last quarter. Handelsbanken Fonder AB raised its holdings in shares of T. Rowe Price Group by 3.4% during the first quarter. Handelsbanken Fonder AB now owns 69,295 shares of the asset manager’s stock valued at $11,891,000 after purchasing an additional 2,247 shares during the last quarter. Finally, Virginia Retirement Systems ET AL raised its holdings in shares of T. Rowe Price Group by 63.5% during the first quarter. Virginia Retirement Systems ET AL now owns 405,400 shares of the asset manager’s stock valued at $69,567,000 after purchasing an additional 157,500 shares during the last quarter. 69.48% of the stock is owned by hedge funds and other institutional investors.

In other news, CEO William J. Stromberg sold 9,000 shares of the stock in a transaction on Thursday, March 11th. The shares were sold at an average price of $173.78, for a total value of $1,564,020.00. Also, President W. Sharps Robert sold 6,000 shares of the stock in a transaction on Monday, March 29th. The shares were sold at an average price of $176.75, for a total transaction of $1,060,500.00. Following the completion of the sale, the president now directly owns 472,138 shares in the company, valued at approximately $83,450,391.50. The disclosure for this sale can be found here. 1.00% of the stock is owned by company insiders.

TROW has been the subject of a number of research reports. Zacks Investment Research cut shares of T. Rowe Price Group from a “buy” rating to a “hold” rating and set a $191.00 target price for the company. in a report on Saturday, May 1st. Morgan Stanley upped their price target on shares of T. Rowe Price Group from $181.00 to $186.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 6th. Barclays upped their price target on shares of T. Rowe Price Group from $145.00 to $150.00 and gave the stock an “underweight” rating in a research report on Monday, January 25th. Credit Suisse Group lowered shares of T. Rowe Price Group from an “outperform” rating to a “neutral” rating and upped their price target for the stock from $179.00 to $181.00 in a research report on Tuesday, March 30th. They noted that the move was a valuation call. Finally, Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell reiterated a “sell” rating and issued a $157.00 price target on shares of T. Rowe Price Group in a research report on Tuesday, April 20th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $166.36.

TROW stock opened at $184.77 on Wednesday. T. Rowe Price Group, Inc. has a 52 week low of $105.56 and a 52 week high of $192.10. The company has a fifty day simple moving average of $178.42 and a two-hundred day simple moving average of $159.84. The firm has a market capitalization of $41.92 billion, a P/E ratio of 20.69, a price-to-earnings-growth ratio of 1.19 and a beta of 1.15.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings data on Thursday, April 29th. The asset manager reported $3.01 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.92 by $0.09. T. Rowe Price Group had a net margin of 35.92% and a return on equity of 30.52%. The business had revenue of $1.83 billion during the quarter, compared to analyst estimates of $1.79 billion. During the same quarter last year, the business earned $1.87 earnings per share. T. Rowe Price Group’s quarterly revenue was up 24.9% compared to the same quarter last year. Research analysts anticipate that T. Rowe Price Group, Inc. will post 9.23 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 29th. Shareholders of record on Tuesday, June 15th will be given a dividend of $1.08 per share. This represents a $4.32 annualized dividend and a yield of 2.34%. T. Rowe Price Group’s dividend payout ratio (DPR) is currently 53.53%.

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.

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Institutional Ownership by Quarter for T. Rowe Price Group (NASDAQ:TROW)

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