Rothschild Investment LLC Trims Holdings in T. Rowe Price Group, Inc. $TROW

Rothschild Investment LLC trimmed its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 24.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,322 shares of the asset manager’s stock after selling 2,364 shares during the quarter. Rothschild Investment LLC’s holdings in T. Rowe Price Group were worth $707,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Invesco Ltd. lifted its holdings in shares of T. Rowe Price Group by 43.2% during the first quarter. Invesco Ltd. now owns 3,433,684 shares of the asset manager’s stock valued at $315,453,000 after purchasing an additional 1,035,865 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of T. Rowe Price Group by 7.2% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 7,706,251 shares of the asset manager’s stock worth $707,973,000 after buying an additional 519,075 shares during the last quarter. ARGA Investment Management LP increased its position in T. Rowe Price Group by 3,807.3% during the 2nd quarter. ARGA Investment Management LP now owns 477,161 shares of the asset manager’s stock valued at $46,046,000 after buying an additional 464,949 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in T. Rowe Price Group during the second quarter valued at $37,722,000. Finally, ProShare Advisors LLC boosted its holdings in T. Rowe Price Group by 21.7% in the second quarter. ProShare Advisors LLC now owns 1,887,935 shares of the asset manager’s stock worth $182,186,000 after acquiring an additional 337,112 shares in the last quarter. Institutional investors own 73.39% of the company’s stock.

Insider Buying and Selling

In other T. Rowe Price Group news, Director Robert F. Maclellan sold 3,090 shares of the stock in a transaction dated 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 approximately $4,970,648.35. This represents a 6.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.60% of the company’s stock.

Analysts Set New Price Targets

TROW has been the subject of several analyst reports. BMO Capital Markets initiated coverage on T. Rowe Price Group in a report on Friday, October 3rd. They set a “market perform” rating and a $108.00 price target for the company. Citigroup raised their price objective on shares of T. Rowe Price Group from $105.00 to $107.00 in a research note on Monday, November 3rd. Morgan Stanley lifted their target price on shares of T. Rowe Price Group from $125.00 to $126.00 and gave the stock an “equal weight” rating in a report on Monday, October 27th. JPMorgan Chase & Co. increased their price target on shares of T. Rowe Price Group from $109.00 to $111.00 and gave the company an “underweight” rating in a report on Monday, November 3rd. Finally, TD Cowen raised their price target on shares of T. Rowe Price Group from $108.00 to $112.00 and gave the company a “hold” rating in a research report on Monday, November 3rd. One research analyst has rated the stock with a Strong Buy rating, eleven 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 a consensus price target of $109.38.

T. Rowe Price Group Stock Up 0.1%

Shares of TROW stock opened at $97.48 on Wednesday. The company has a 50 day moving average price of $103.62 and a 200-day moving average price of $101.51. T. Rowe Price Group, Inc. has a 52 week low of $77.85 and a 52 week high of $125.81. The firm has a market capitalization of $21.27 billion, a PE ratio of 10.89, a P/E/G ratio of 5.61 and a beta of 1.51.

T. Rowe Price Group (NASDAQ:TROW) last issued its earnings results on Friday, October 31st. The asset manager reported $2.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.55 by $0.26. T. Rowe Price Group had a net margin of 28.72% and a return on equity of 19.77%. The company had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.88 billion. During the same quarter last year, the company posted $2.57 earnings per share. The firm’s quarterly revenue was up 6.0% on a year-over-year basis. Analysts anticipate that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current year.

T. Rowe Price Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Investors of record on Monday, December 15th will be issued a $1.27 dividend. The ex-dividend date of this dividend is Monday, December 15th. This represents a $5.08 annualized dividend and a dividend yield of 5.2%. T. Rowe Price Group’s payout ratio is presently 55.34%.

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.