T. Rowe Price Group, Inc. $TROW Shares Sold by NewEdge Advisors LLC

NewEdge Advisors LLC lowered its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 19.7% during the 1st quarter, Holdings Channel reports. The fund owned 30,818 shares of the asset manager’s stock after selling 7,581 shares during the period. NewEdge Advisors LLC’s holdings in T. Rowe Price Group were worth $2,778,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in TROW. TD Private Client Wealth LLC grew its stake in shares of T. Rowe Price Group by 91.8% in the fourth quarter. TD Private Client Wealth LLC now owns 257 shares of the asset manager’s stock worth $26,000 after purchasing an additional 123 shares in the last quarter. DV Equities LLC bought a new stake in shares of T. Rowe Price Group during the fourth quarter valued at about $32,000. Motiv8 Investments LLC acquired a new stake in T. Rowe Price Group in the fourth quarter worth about $35,000. TD Waterhouse Canada Inc. lifted its holdings in T. Rowe Price Group by 92.0% in the fourth quarter. TD Waterhouse Canada Inc. now owns 386 shares of the asset manager’s stock worth $40,000 after purchasing an additional 185 shares during the period. Finally, Curio Wealth LLC grew its position in T. Rowe Price Group by 64.3% in the 4th quarter. Curio Wealth LLC now owns 386 shares of the asset manager’s stock valued at $40,000 after buying an additional 151 shares in the last quarter. Institutional investors and hedge funds own 73.39% of the company’s stock.

T. Rowe Price Group Trading Down 0.1%

Shares of T. Rowe Price Group stock opened at $111.30 on Friday. T. Rowe Price Group, Inc. has a 52 week low of $85.22 and a 52 week high of $122.00. The stock has a market cap of $23.74 billion, a PE ratio of 11.16, a price-to-earnings-growth ratio of 4.34 and a beta of 1.47. The company’s 50-day moving average price is $113.43 and its two-hundred day moving average price is $102.60.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings data on Friday, July 31st. The asset manager reported $2.57 earnings per share for the quarter, beating the consensus estimate of $2.52 by $0.05. The company had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.89 billion. T. Rowe Price Group had a net margin of 29.26% and a return on equity of 20.91%. The business’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same quarter last year, the firm posted $2.24 EPS. On average, equities analysts predict that T. Rowe Price Group, Inc. will post 10.13 EPS for the current fiscal year.

T. Rowe Price Group Dividend Announcement

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

Analyst Upgrades and Downgrades

TROW has been the topic of several research analyst reports. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $115.00 target price (down from $120.00) on shares of T. Rowe Price Group in a research note on Monday, August 3rd. Morgan Stanley set a $116.00 price target on shares of T. Rowe Price Group in a research note on Wednesday, July 29th. Barclays lowered their price objective on shares of T. Rowe Price Group from $108.00 to $103.00 and set an “underweight” rating on the stock in a research note on Monday, August 3rd. BMO Capital Markets boosted their target price on T. Rowe Price Group from $110.00 to $120.00 and gave the stock a “market perform” rating in a report on Monday, August 3rd. Finally, JPMorgan Chase & Co. cut their target price on T. Rowe Price Group from $106.00 to $103.00 and set an “underweight” rating for the company in a research report on Friday, April 24th. One analyst has rated the stock with a Strong Buy rating, nine have given a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Reduce” and an average target price of $105.67.

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.