Heritage Investors Management Corp Has $12.31 Million Holdings in T. Rowe Price Group, Inc. $TROW

Heritage Investors Management Corp cut its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 5.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 136,589 shares of the asset manager’s stock after selling 7,423 shares during the period. Heritage Investors Management Corp owned 0.06% of T. Rowe Price Group worth $12,312,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. Woodline Partners LP raised its position in T. Rowe Price Group by 41.0% in the 1st quarter. Woodline Partners LP now owns 18,809 shares of the asset manager’s stock worth $1,728,000 after purchasing an additional 5,467 shares during the last quarter. Focus Partners Wealth increased its stake in shares of T. Rowe Price Group by 10.6% in the 1st quarter. Focus Partners Wealth now owns 13,054 shares of the asset manager’s stock valued at $1,199,000 after buying an additional 1,250 shares during the period. EverSource Wealth Advisors LLC increased its stake in shares of T. Rowe Price Group by 44.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,546 shares of the asset manager’s stock valued at $149,000 after buying an additional 478 shares during the period. Jump Financial LLC bought a new stake in shares of T. Rowe Price Group during the second quarter worth $931,000. Finally, Daiwa Securities Group Inc. raised its position in shares of T. Rowe Price Group by 5.4% during the second quarter. Daiwa Securities Group Inc. now owns 33,245 shares of the asset manager’s stock worth $3,208,000 after acquiring an additional 1,703 shares during the last quarter. 73.39% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, VP Stephon A. Jackson sold 3,000 shares of the company’s stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $102.56, for a total value of $307,680.00. Following the completion of the sale, the vice president directly owned 83,883 shares of the company’s stock, valued at $8,603,040.48. This represents a 3.45% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 1.60% of the company’s stock.

Analyst Ratings Changes

TROW has been the topic of several recent research reports. Evercore raised their price target on T. Rowe Price Group from $106.00 to $111.00 in a report on Monday, June 8th. TD Cowen lifted their price objective on T. Rowe Price Group from $93.00 to $94.00 and gave the stock a “hold” rating in a research report on Friday, May 1st. JPMorgan Chase & Co. dropped their price objective on 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. Morgan Stanley upped their target price on shares of T. Rowe Price Group from $105.00 to $109.00 and gave the company an “equal weight” rating in a research report on Friday, June 26th. Finally, Jefferies Financial Group reduced their target price on shares of T. Rowe Price Group from $107.00 to $91.00 and set a “hold” rating on the stock in a research note on Wednesday, April 8th. Eleven investment analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus price target of $100.54.

T. Rowe Price Group Stock Up 2.1%

TROW stock opened at $118.55 on Friday. T. Rowe Price Group, Inc. has a twelve month low of $85.22 and a twelve month high of $118.64. The company has a market cap of $25.40 billion, a P/E ratio of 12.71, a price-to-earnings-growth ratio of 5.90 and a beta of 1.47. The business’s fifty day moving average is $105.40 and its 200-day moving average is $100.23.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings data on Thursday, April 30th. The asset manager reported $2.52 EPS for the quarter, topping analysts’ consensus estimates of $2.37 by $0.15. The business had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.85 billion. T. Rowe Price Group had a return on equity of 20.60% and a net margin of 28.28%.The firm’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.23 earnings per share. Research analysts anticipate that T. Rowe Price Group, Inc. will post 9.69 earnings per share for the current fiscal year.

T. Rowe Price Group Dividend Announcement

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

T. Rowe Price Group Company 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.