Central Bank & Trust Co. Lowers Stock Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Central Bank & Trust Co. cut its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 15.1% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 785 shares of the asset manager’s stock after selling 140 shares during the period. Central Bank & Trust Co.’s holdings in T. Rowe Price Group were worth $91,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Louisiana State Employees Retirement System bought a new position in shares of T. Rowe Price Group in the 4th quarter worth $1,454,000. Strs Ohio purchased a new stake in shares of T. Rowe Price Group during the fourth quarter valued at about $1,112,000. Desjardins Global Asset Management Inc. grew its position in shares of T. Rowe Price Group by 23.7% in the 4th quarter. Desjardins Global Asset Management Inc. now owns 1,825 shares of the asset manager’s stock worth $197,000 after buying an additional 350 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of T. Rowe Price Group by 0.9% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 70,255 shares of the asset manager’s stock worth $7,566,000 after acquiring an additional 596 shares in the last quarter. Finally, Daiwa Securities Group Inc. boosted its stake in T. Rowe Price Group by 5.7% in the fourth quarter. Daiwa Securities Group Inc. now owns 20,143 shares of the asset manager’s stock valued at $2,169,000 after acquiring an additional 1,094 shares in the last quarter. 73.39% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at T. Rowe Price Group

In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 1,401 shares of the firm’s stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $115.85, for a total value of $162,305.85. Following the transaction, the insider now owns 14,198 shares in the company, valued at approximately $1,644,838.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, VP Dorothy C. Sawyer sold 2,000 shares of the stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $117.00, for a total value of $234,000.00. Following the completion of the sale, the vice president now owns 34,710 shares of the company’s stock, valued at $4,061,070. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Jessica M. Hiebler sold 1,401 shares of the business’s stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $115.85, for a total value of $162,305.85. Following the transaction, the insider now directly owns 14,198 shares in the company, valued at approximately $1,644,838.30. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

T. Rowe Price Group Stock Up 0.0 %

Shares of NASDAQ:TROW traded up $0.01 during trading on Monday, reaching $108.79. 201,033 shares of the company’s stock traded hands, compared to its average volume of 1,286,713. The firm has a market cap of $24.29 billion, a PE ratio of 12.92, a P/E/G ratio of 1.64 and a beta of 1.42. T. Rowe Price Group, Inc. has a fifty-two week low of $87.43 and a fifty-two week high of $122.27. The company has a 50-day simple moving average of $113.65 and a 200-day simple moving average of $113.93.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings data on Friday, July 26th. The asset manager reported $2.26 EPS for the quarter, missing the consensus estimate of $2.27 by ($0.01). T. Rowe Price Group had a net margin of 28.66% and a return on equity of 19.90%. The business had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.79 billion. During the same period in the previous year, the business posted $2.02 earnings per share. The firm’s revenue for the quarter was up 7.6% on a year-over-year basis. On average, equities research analysts forecast that T. Rowe Price Group, Inc. will post 8.98 EPS for the current year.

T. Rowe Price Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be given a $1.24 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $4.96 annualized dividend and a dividend yield of 4.56%. T. Rowe Price Group’s dividend payout ratio (DPR) is 58.91%.

Wall Street Analyst Weigh In

TROW has been the subject of a number of research analyst reports. Evercore ISI decreased 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 note on Tuesday, April 30th. StockNews.com lowered shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. TD Cowen lowered their price target on T. Rowe Price Group from $123.00 to $118.00 and set a “hold” rating for the company in a research report on Monday, July 29th. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $120.00 price objective (down from $121.00) on shares of T. Rowe Price Group in a report on Monday, July 29th. Finally, JPMorgan Chase & Co. raised their price objective on T. Rowe Price Group from $102.00 to $107.00 and gave the stock an “underweight” rating in a research note on Tuesday, July 23rd. Three research analysts have rated the stock with a sell rating and seven have issued a hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $114.67.

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.