Bradley Foster & Sargent Inc. CT Sells 4,475 Shares of T. Rowe Price Group, Inc. $TROW

Bradley Foster & Sargent Inc. CT lowered its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 32.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,126 shares of the asset manager’s stock after selling 4,475 shares during the quarter. Bradley Foster & Sargent Inc. CT’s holdings in T. Rowe Price Group were worth $823,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in TROW. Aristotle Atlantic Partners LLC bought a new stake in shares of T. Rowe Price Group during the 1st quarter valued at $270,000. Entropy Technologies LP boosted its stake in T. Rowe Price Group by 83.5% during the first quarter. Entropy Technologies LP now owns 40,123 shares of the asset manager’s stock worth $3,617,000 after acquiring an additional 18,263 shares in the last quarter. TCM Advisors LLC boosted its stake in T. Rowe Price Group by 16.6% during the first quarter. TCM Advisors LLC now owns 9,818 shares of the asset manager’s stock worth $885,000 after acquiring an additional 1,400 shares in the last quarter. Bridgewater Advisors Inc. purchased a new stake in T. Rowe Price Group in the first quarter worth about $254,000. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its holdings in T. Rowe Price Group by 18.6% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 271,137 shares of the asset manager’s stock worth $24,440,000 after purchasing an additional 42,510 shares during the period. Hedge funds and other institutional investors own 73.39% of the company’s stock.

T. Rowe Price Group Price Performance

TROW stock opened at $119.21 on Tuesday. T. Rowe Price Group, Inc. has a 1 year low of $85.22 and a 1 year high of $121.17. The company has a market cap of $25.54 billion, a P/E ratio of 12.78, a price-to-earnings-growth ratio of 4.18 and a beta of 1.47. The stock’s fifty day moving average price is $110.52 and its 200-day moving average price is $101.81.

T. Rowe Price Group (NASDAQ:TROW) last announced its earnings results on Thursday, April 30th. The asset manager reported $2.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.37 by $0.15. T. Rowe Price Group had a net margin of 28.28% and a return on equity of 20.60%. The company had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.85 billion. During the same period in the previous year, the business posted $2.23 earnings per share. The firm’s quarterly revenue was up 5.3% compared to the same quarter last year. As a group, analysts expect that T. Rowe Price Group, Inc. will post 10.12 earnings per share for the current year.

T. Rowe Price Group Dividend Announcement

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

Insider Buying and Selling

In related news, VP Stephon A. Jackson sold 3,000 shares of the stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $102.56, for a total transaction of $307,680.00. Following the completion of the sale, the vice president owned 83,883 shares in the company, valued at approximately $8,603,040.48. This trade represents a 3.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.60% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

TROW has been the subject of several recent research reports. JPMorgan Chase & Co. lowered their target price on shares of T. Rowe Price Group from $106.00 to $103.00 and set an “underweight” rating for the company in a report on Friday, April 24th. Evercore set a $121.00 price objective on T. Rowe Price Group in a research note on Friday, July 10th. Jefferies Financial Group lowered their price objective on T. Rowe Price Group from $107.00 to $91.00 and set a “hold” rating for the company in a research note on Wednesday, April 8th. BMO Capital Markets increased their target price on T. Rowe Price Group from $98.00 to $110.00 and gave the stock a “market perform” rating in a research note on Monday, May 4th. Finally, Barclays increased their target price on T. Rowe Price Group from $89.00 to $108.00 and gave the stock an “underweight” rating in a research note on Tuesday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Reduce” and a consensus price target of $104.50.

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.