Toth Financial Advisory Corp Reduces Stake in T. Rowe Price Group Inc (TROW)
Toth Financial Advisory Corp trimmed its position in T. Rowe Price Group Inc (NASDAQ:TROW) by 7.0% in the first quarter, Holdings Channel reports. The fund owned 20,654 shares of the asset manager’s stock after selling 1,551 shares during the quarter. Toth Financial Advisory Corp’s holdings in T. Rowe Price Group were worth $2,068,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently made changes to their positions in TROW. Duality Advisers LP acquired a new stake in T. Rowe Price Group in the fourth quarter valued at $2,724,000. Goelzer Investment Management Inc. grew its holdings in T. Rowe Price Group by 1.4% during the 4th quarter. Goelzer Investment Management Inc. now owns 51,876 shares of the asset manager’s stock worth $4,789,000 after acquiring an additional 724 shares during the period. Huntington National Bank grew its holdings in T. Rowe Price Group by 44.6% during the 4th quarter. Huntington National Bank now owns 28,400 shares of the asset manager’s stock worth $2,622,000 after acquiring an additional 8,762 shares during the period. APG Asset Management N.V. grew its holdings in T. Rowe Price Group by 112.3% during the 4th quarter. APG Asset Management N.V. now owns 1,064,185 shares of the asset manager’s stock worth $85,943,000 after acquiring an additional 562,900 shares during the period. Finally, Dubuque Bank & Trust Co. grew its holdings in T. Rowe Price Group by 3.0% during the 4th quarter. Dubuque Bank & Trust Co. now owns 39,670 shares of the asset manager’s stock worth $3,663,000 after acquiring an additional 1,153 shares during the period. Institutional investors own 72.65% of the company’s stock.
T. Rowe Price Group stock traded down $0.95 during trading hours on Monday, reaching $104.95. 635,944 shares of the company’s stock were exchanged, compared to its average volume of 1,404,693. T. Rowe Price Group Inc has a twelve month low of $84.59 and a twelve month high of $127.43. The company has a market cap of $24.79 billion, a P/E ratio of 14.68, a PEG ratio of 1.79 and a beta of 1.04.
The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were paid a $0.76 dividend. The ex-dividend date was Thursday, March 14th. This is an increase from T. Rowe Price Group’s previous quarterly dividend of $0.70. This represents a $3.04 annualized dividend and a dividend yield of 2.90%. T. Rowe Price Group’s dividend payout ratio (DPR) is currently 42.52%.
A number of analysts have weighed in on TROW shares. Bank of America reiterated a “buy” rating and set a $107.00 price target (up from $102.00) on shares of T. Rowe Price Group in a report on Friday, March 8th. Jefferies Financial Group increased their price target on T. Rowe Price Group from $103.00 to $119.00 and gave the stock a “buy” rating in a report on Monday, April 1st. Zacks Investment Research upgraded T. Rowe Price Group from a “hold” rating to a “buy” rating and set a $116.00 price target for the company in a report on Wednesday, April 3rd. Morgan Stanley decreased their price target on T. Rowe Price Group from $105.00 to $98.00 and set an “equal weight” rating for the company in a report on Friday, January 4th. Finally, BidaskClub upgraded T. Rowe Price Group from a “sell” rating to a “hold” rating in a report on Wednesday, March 13th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $106.17.
In other news, insider Edward C. Bernard sold 10,000 shares of the firm’s stock in a transaction dated Friday, February 15th. The stock was sold at an average price of $97.15, for a total value of $971,500.00. Following the completion of the sale, the insider now directly owns 651,532 shares in the company, valued at approximately $63,296,333.80. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Christopher D. Alderson sold 104,465 shares of the firm’s stock in a transaction dated Wednesday, February 20th. The shares were sold at an average price of $96.94, for a total value of $10,126,837.10. Following the completion of the sale, the vice president now owns 401,164 shares of the company’s stock, valued at $38,888,838.16. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 117,082 shares of company stock valued at $11,361,948. 3.10% of the stock is currently owned by company insiders.
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About T. Rowe Price Group
T. Rowe Price Group, Inc is a publicly owned investment manager. The firm provides its services to individuals, institutional investors, retirement plans, financial intermediaries, and institutions. It launches and manages equity and fixed income mutual funds. The firm invests in the public equity and fixed income markets across the globe.
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