D.A. Davidson & CO. Has $8.38 Million Position in T. Rowe Price Group, Inc. $TROW

D.A. Davidson & CO. decreased its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 6.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 92,985 shares of the asset manager’s stock after selling 6,625 shares during the quarter. D.A. Davidson & CO.’s holdings in T. Rowe Price Group were worth $8,382,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. TD Private Client Wealth LLC increased its stake in T. Rowe Price Group by 91.8% in the 4th quarter. TD Private Client Wealth LLC now owns 257 shares of the asset manager’s stock valued at $26,000 after buying an additional 123 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. boosted its stake in T. Rowe Price Group by 540.9% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 282 shares of the asset manager’s stock valued at $29,000 after acquiring an additional 238 shares during the last quarter. Canton Hathaway LLC purchased a new position in T. Rowe Price Group in the fourth quarter valued at about $31,000. Sound Income Strategies LLC grew its position in shares of T. Rowe Price Group by 170.3% during the 4th quarter. Sound Income Strategies LLC now owns 300 shares of the asset manager’s stock valued at $32,000 after acquiring an additional 189 shares during the period. Finally, DV Equities LLC bought a new position in shares of T. Rowe Price Group during the 4th quarter valued at approximately $32,000. Institutional investors and hedge funds own 73.39% of the company’s stock.

T. Rowe Price Group Stock Performance

Shares of TROW stock opened at $117.35 on Friday. T. Rowe Price Group, Inc. has a one year low of $85.22 and a one year high of $121.17. The company’s 50-day moving average is $108.85 and its 200 day moving average is $101.32. The company has a market capitalization of $25.14 billion, a price-to-earnings ratio of 12.58, a price-to-earnings-growth ratio of 4.28 and a beta of 1.47.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings data on Thursday, April 30th. The asset manager reported $2.52 EPS for the quarter, topping the consensus estimate of $2.37 by $0.15. The company had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.85 billion. T. Rowe Price Group had a return on equity of 20.60% and a net margin of 28.28%.T. Rowe Price Group’s revenue was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.23 earnings per share. As a group, research analysts predict that T. Rowe Price Group, Inc. will post 10.07 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 29th. Shareholders of record on Monday, June 15th were given a dividend of $1.30 per share. The ex-dividend date was Monday, June 15th. This represents a $5.20 dividend on an annualized basis and a yield of 4.4%. T. Rowe Price Group’s dividend payout ratio is 55.73%.

Insider Transactions at T. Rowe Price Group

In other T. Rowe Price Group news, VP Stephon A. Jackson sold 3,000 shares of the business’s stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $102.56, for a total transaction of $307,680.00. Following the transaction, the vice president owned 83,883 shares in the company, valued at $8,603,040.48. The trade was a 3.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.60% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

TROW has been the topic of a number of analyst reports. Morgan Stanley boosted their price objective on T. Rowe Price Group from $105.00 to $109.00 and gave the company an “equal weight” rating in a research note on Friday, June 26th. Keefe, Bruyette & Woods boosted their price objective on shares of T. Rowe Price Group from $107.00 to $120.00 and gave the company a “market perform” rating in a research note on Friday, July 10th. Evercore set a $121.00 target price on shares of T. Rowe Price Group in a research note on Friday, July 10th. Jefferies Financial Group cut their price target on shares of T. Rowe Price Group from $107.00 to $91.00 and set a “hold” rating for the company in a report on Wednesday, April 8th. Finally, BMO Capital Markets boosted their price target on shares of T. Rowe Price Group from $98.00 to $110.00 and gave the company a “market perform” rating in a research report on Monday, May 4th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Reduce” and an average price target of $103.42.

About T. Rowe Price Group

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.