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

D.A. Davidson & CO. lessened its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 38.9% in the second quarter, Holdings Channel.com reports. The fund owned 56,774 shares of the asset manager’s stock after selling 36,211 shares during the period. D.A. Davidson & CO.’s holdings in T. Rowe Price Group were worth $6,455,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. TD Private Client Wealth LLC boosted its holdings in 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 valued at $26,000 after acquiring an additional 123 shares in the last quarter. DV Equities LLC bought a new position in T. Rowe Price Group in the 4th quarter worth $32,000. Motiv8 Investments LLC purchased a new stake in shares of T. Rowe Price Group in the 4th quarter worth about $35,000. Bank & Trust Co lifted its position in shares of T. Rowe Price Group by 52.4% in the 2nd quarter. Bank & Trust Co now owns 314 shares of the asset manager’s stock worth $36,000 after purchasing an additional 108 shares during the period. Finally, TD Waterhouse Canada Inc. boosted its stake in shares of T. Rowe Price Group by 92.0% during the 4th quarter. TD Waterhouse Canada Inc. now owns 386 shares of the asset manager’s stock valued at $40,000 after purchasing an additional 185 shares in the last quarter. Hedge funds and other institutional investors own 73.39% of the company’s stock.

T. Rowe Price Group Trading Down 0.7%

Shares of TROW stock opened at $110.56 on Friday. T. Rowe Price Group, Inc. has a 12 month low of $85.22 and a 12 month high of $122.00. The stock has a market cap of $23.58 billion, a PE ratio of 11.09, a price-to-earnings-growth ratio of 4.33 and a beta of 1.47. The company’s fifty day moving average price is $113.52 and its 200-day moving average price is $102.66.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings results on Friday, July 31st. The asset manager reported $2.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.52 by $0.05. T. Rowe Price Group had a net margin of 29.26% and a return on equity of 20.91%. The company had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.89 billion. During the same period last year, the business earned $2.24 EPS. T. Rowe Price Group’s quarterly revenue was up 10.7% compared to the same quarter last year. On average, sell-side analysts forecast that T. Rowe Price Group, Inc. will post 10.13 earnings per share 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. Shareholders 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 dividend on an annualized basis and a dividend yield of 4.7%. T. Rowe Price Group’s dividend payout ratio (DPR) is currently 52.16%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on TROW. Weiss Ratings upgraded shares of T. Rowe Price Group from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, July 2nd. JPMorgan Chase & Co. lowered their price objective 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. Morgan Stanley set a $116.00 price objective on T. Rowe Price Group in a research report on Wednesday, July 29th. Zacks Research upgraded T. Rowe Price Group from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 15th. Finally, The Goldman Sachs Group increased their target price on T. Rowe Price Group from $90.00 to $92.00 and gave the stock a “sell” rating in a research report on Tuesday, June 30th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat, T. Rowe Price Group 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.