T. Rowe Price Group, Inc. $TROW Shares Sold by Toth Financial Advisory Corp

Toth Financial Advisory Corp lessened its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 27.5% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 26,386 shares of the asset manager’s stock after selling 10,005 shares during the quarter. Toth Financial Advisory Corp’s holdings in T. Rowe Price Group were worth $3,000,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. BlackRock Inc. acquired a new position in T. Rowe Price Group during the second quarter worth $2,728,119,000. Goldman Sachs Group Inc. grew its holdings in shares of T. Rowe Price Group by 332.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 8,770,071 shares of the asset manager’s stock valued at $897,880,000 after buying an additional 6,740,172 shares in the last quarter. First Trust Advisors LP raised its position in T. Rowe Price Group by 126.5% during the fourth quarter. First Trust Advisors LP now owns 3,280,854 shares of the asset manager’s stock valued at $335,894,000 after acquiring an additional 1,832,231 shares in the last quarter. Legal & General Group Plc acquired a new position in T. Rowe Price Group during the 2nd quarter worth $183,130,000. Finally, Bank of America Corp DE acquired a new position in shares of T. Rowe Price Group in the second quarter valued at $170,572,000. Hedge funds and other institutional investors own 73.39% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on TROW. Evercore set a $118.00 price objective on shares of T. Rowe Price Group in a research report on Monday, August 10th. Zacks Research downgraded T. Rowe Price Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 13th. Weiss Ratings raised shares of T. Rowe Price Group from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, July 2nd. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $109.00 price objective on shares of T. Rowe Price Group in a research report on Monday, August 3rd. Finally, Morgan Stanley set a $116.00 price target on shares of T. Rowe Price Group in a research note on Wednesday, July 29th. Ten research analysts have rated the stock with a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce” and an average target price of $105.67.

Insider Buying and Selling

In related news, VP Joshua B. Nelson sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $111.82, for a total value of $1,118,200.00. Following the completion of the sale, the vice president owned 71,328 shares in the company, valued at approximately $7,975,896.96. This represents a 12.30% decrease in their position. The sale 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.

T. Rowe Price Group Stock Down 1.0%

TROW opened at $111.24 on Friday. T. Rowe Price Group, Inc. has a twelve month low of $85.22 and a twelve month high of $122.00. The company has a 50-day moving average price of $114.35 and a 200 day moving average price of $103.34. The company has a market cap of $23.73 billion, a PE ratio of 11.16, a price-to-earnings-growth ratio of 3.72 and a beta of 1.47.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings results on Friday, July 31st. The asset manager reported $2.57 earnings per share for the quarter, topping the consensus estimate of $2.52 by $0.05. The company had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.89 billion. T. Rowe Price Group had a return on equity of 20.91% and a net margin of 29.26%.T. Rowe Price Group’s revenue was up 10.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.24 EPS. As a group, sell-side analysts expect that T. Rowe Price Group, Inc. will post 10.15 earnings per share for the current year.

T. Rowe Price Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 15th will be issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date of this dividend is Tuesday, September 15th. T. Rowe Price Group’s payout ratio is 52.16%.

T. Rowe Price Group Profile

T. Rowe Price Group, Inc is a global investment management firm headquartered in Baltimore, Maryland, founded by Thomas Rowe Price Jr. in 1937. The company provides a broad range of investment products and services for individual investors, financial intermediaries, retirement plan sponsors and institutional clients. Its offerings are built around active investment management and in-house research across equity, fixed income and multi-asset strategies, reflecting a long history as a research-driven asset manager.

The firm’s product lineup includes mutual funds, separate accounts, collective investment trusts, target-date and target-risk funds, and managed account solutions, as well as services for defined contribution and defined benefit retirement plans.