TD Asset Management Inc Acquires 287 Shares of T. Rowe Price Group, Inc. $TROW

TD Asset Management Inc boosted its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 0.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 86,093 shares of the asset manager’s stock after acquiring an additional 287 shares during the quarter. TD Asset Management Inc’s holdings in T. Rowe Price Group were worth $8,308,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Zions Bancorporation National Association UT bought a new stake in T. Rowe Price Group in the first quarter valued at about $27,000. Hexagon Capital Partners LLC increased its stake in T. Rowe Price Group by 44.8% in the first quarter. Hexagon Capital Partners LLC now owns 365 shares of the asset manager’s stock valued at $34,000 after acquiring an additional 113 shares during the period. Smallwood Wealth Investment Management LLC acquired a new position in T. Rowe Price Group in the first quarter valued at about $39,000. Chilton Capital Management LLC acquired a new position in T. Rowe Price Group in the first quarter valued at about $41,000. Finally, Cromwell Holdings LLC boosted its position in T. Rowe Price Group by 3,483.3% in the second quarter. Cromwell Holdings LLC now owns 430 shares of the asset manager’s stock valued at $41,000 after buying an additional 418 shares in the last quarter. Institutional investors own 73.39% of the company’s stock.

T. Rowe Price Group Price Performance

TROW opened at $103.70 on Monday. T. Rowe Price Group, Inc. has a one year low of $77.85 and a one year high of $125.81. The company’s 50 day simple moving average is $105.78 and its 200-day simple moving average is $98.96. The stock has a market capitalization of $22.78 billion, a P/E ratio of 11.59, a price-to-earnings-growth ratio of 5.69 and a beta of 1.50.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings results on Friday, August 1st. The asset manager reported $2.24 EPS for the quarter, beating the consensus estimate of $2.15 by $0.09. T. Rowe Price Group had a net margin of 28.72% and a return on equity of 19.77%. The business had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.72 billion. During the same period in the prior year, the firm earned $2.26 earnings per share. T. Rowe Price Group’s revenue was down .6% compared to the same quarter last year. As a group, analysts anticipate that T. Rowe Price Group, Inc. will post 9.29 EPS for the current year.

T. Rowe Price Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Monday, September 15th were issued a dividend of $1.27 per share. This represents a $5.08 dividend on an annualized basis and a yield of 4.9%. The ex-dividend date of this dividend was Monday, September 15th. T. Rowe Price Group’s payout ratio is currently 56.76%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on TROW shares. Deutsche Bank Aktiengesellschaft boosted their price target on shares of T. Rowe Price Group from $109.00 to $114.00 and gave the company a “hold” rating in a research report on Thursday, October 9th. Zacks Research upgraded shares of T. Rowe Price Group from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 10th. Weiss Ratings restated a “hold (c)” rating on shares of T. Rowe Price Group in a research report on Wednesday, October 8th. JPMorgan Chase & Co. boosted their price target on shares of T. Rowe Price Group from $102.00 to $109.00 and gave the company an “underweight” rating in a research report on Wednesday, October 15th. Finally, TD Cowen boosted their price target on shares of T. Rowe Price Group from $103.00 to $108.00 and gave the company a “hold” rating in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, ten have given a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus price target of $106.92.

Insider Activity at T. Rowe Price Group

In other news, Director Robert F. Maclellan sold 3,090 shares of the stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $105.01, for a total value of $324,480.90. Following the transaction, the director owned 47,335 shares of the company’s stock, valued at $4,970,648.35. This represents a 6.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 1.60% of the company’s stock.

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.