Toronto Dominion Bank Boosts Stake in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Toronto Dominion Bank lifted its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 83.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 129,674 shares of the asset manager’s stock after purchasing an additional 58,987 shares during the period. Toronto Dominion Bank’s holdings in T. Rowe Price Group were worth $15,810,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Massmutual Trust Co. FSB ADV grew its position in shares of T. Rowe Price Group by 7.5% in the first quarter. Massmutual Trust Co. FSB ADV now owns 1,236 shares of the asset manager’s stock valued at $151,000 after purchasing an additional 86 shares during the period. ST Germain D J Co. Inc. boosted its holdings in T. Rowe Price Group by 0.3% in the 1st quarter. ST Germain D J Co. Inc. now owns 31,065 shares of the asset manager’s stock worth $3,787,000 after buying an additional 88 shares during the last quarter. MCF Advisors LLC boosted its holdings in T. Rowe Price Group by 1.6% in the 1st quarter. MCF Advisors LLC now owns 5,953 shares of the asset manager’s stock worth $726,000 after buying an additional 92 shares during the last quarter. Paulson Wealth Management Inc. increased its stake in T. Rowe Price Group by 4.9% during the 1st quarter. Paulson Wealth Management Inc. now owns 2,028 shares of the asset manager’s stock worth $247,000 after buying an additional 95 shares in the last quarter. Finally, Clear Harbor Asset Management LLC lifted its position in shares of T. Rowe Price Group by 3.2% in the fourth quarter. Clear Harbor Asset Management LLC now owns 3,240 shares of the asset manager’s stock valued at $349,000 after acquiring an additional 100 shares in the last quarter. Institutional investors and hedge funds own 73.39% of the company’s stock.

T. Rowe Price Group Trading Down 3.0 %

TROW stock traded down $3.41 during trading on Friday, reaching $112.08. 1,972,332 shares of the stock were exchanged, compared to its average volume of 1,297,146. The firm has a market capitalization of $25.03 billion, a price-to-earnings ratio of 13.31, a P/E/G ratio of 1.66 and a beta of 1.42. The business has a 50 day moving average price of $116.47 and a 200-day moving average price of $114.04. T. Rowe Price Group, Inc. has a 1 year low of $87.43 and a 1 year high of $132.76.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings results on Friday, July 26th. The asset manager reported $2.26 EPS for the quarter, missing the consensus estimate of $2.27 by ($0.01). The firm had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.79 billion. T. Rowe Price Group had a net margin of 29.09% and a return on equity of 19.70%. The firm’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.02 EPS. On average, research analysts anticipate that T. Rowe Price Group, Inc. will post 8.98 EPS for the current year.

T. Rowe Price Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 27th. Stockholders of record on Friday, June 14th were paid a $1.24 dividend. This represents a $4.96 annualized dividend and a dividend yield of 4.43%. The ex-dividend date of this dividend was Friday, June 14th. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 58.91%.

Wall Street Analyst Weigh In

Several analysts recently commented on TROW shares. Evercore ISI dropped their price target on T. Rowe Price Group from $110.00 to $107.00 and set an “in-line” rating for the company in a research report on Tuesday, April 30th. Citigroup upped their target price on shares of T. Rowe Price Group from $110.00 to $125.00 and gave the stock a “neutral” rating in a report on Friday, April 5th. StockNews.com upgraded shares of T. Rowe Price Group from a “hold” rating to a “buy” rating in a research report on Wednesday, July 10th. JPMorgan Chase & Co. boosted their price target on shares of T. Rowe Price Group from $102.00 to $107.00 and gave the stock an “underweight” rating in a research report on Tuesday. Finally, TD Cowen increased their price objective on shares of T. Rowe Price Group from $121.00 to $123.00 and gave the company a “hold” rating in a report on Monday, July 8th. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $113.50.

Insider Transactions at T. Rowe Price Group

In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 1,401 shares of T. Rowe Price Group stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $115.85, for a total transaction of $162,305.85. Following the completion of the sale, the insider now directly owns 14,198 shares in the company, valued at $1,644,838.30. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, Director Robert F. Maclellan sold 3,043 shares of T. Rowe Price Group stock in a transaction on Monday, April 29th. The stock was sold at an average price of $113.08, for a total value of $344,102.44. Following the completion of the sale, the director now directly owns 34,635 shares of the company’s stock, valued at $3,916,525.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jessica M. Hiebler sold 1,401 shares of the business’s stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $115.85, for a total value of $162,305.85. Following the completion of the sale, the insider now owns 14,198 shares in the company, valued at approximately $1,644,838.30. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,444 shares of company stock worth $740,408. 2.00% of the stock is currently owned by company insiders.

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.