Trust Co. of Vermont Purchases Shares of 8,071 T. Rowe Price Group, Inc. $TROW

Trust Co. of Vermont purchased a new position in T. Rowe Price Group, Inc. (NASDAQ:TROW) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 8,071 shares of the asset manager’s stock, valued at approximately $918,000.

Several other institutional investors have also recently made changes to their positions in TROW. Principle Wealth Partners LLC bought a new position in shares of T. Rowe Price Group during the 2nd quarter valued at approximately $1,026,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in T. Rowe Price Group during the 2nd quarter worth approximately $66,095,000. OneDigital Investment Advisors LLC purchased a new position in T. Rowe Price Group during the second quarter valued at approximately $659,000. Plato Investment Management Ltd purchased a new position in T. Rowe Price Group during the second quarter valued at approximately $960,000. Finally, Simplicity Wealth LLC bought a new position in shares of T. Rowe Price Group in the second quarter worth approximately $256,000. Institutional investors own 73.39% of the company’s stock.

T. Rowe Price Group Trading Down 0.1%

Shares of TROW stock opened at $110.32 on Wednesday. T. Rowe Price Group, Inc. has a 12-month low of $85.22 and a 12-month high of $122.00. The stock’s 50-day moving average price is $113.71 and its 200-day moving average price is $102.71. The stock has a market capitalization of $23.53 billion, a price-to-earnings ratio of 11.07, a price-to-earnings-growth ratio of 4.30 and a beta of 1.47.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings results on Friday, July 31st. The asset manager reported $2.57 EPS for the quarter, beating analysts’ consensus estimates of $2.52 by $0.05. The company had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.89 billion. T. Rowe Price Group had a return on equity of 20.91% and a net margin of 29.26%.The firm’s revenue was up 10.7% on a year-over-year basis. During the same period in the prior year, the company earned $2.24 earnings per share. As a group, research analysts predict that T. Rowe Price Group, Inc. will post 10.13 EPS for the current fiscal year.

T. Rowe Price Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 15th will be issued a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 4.7%. The ex-dividend date of this dividend is Tuesday, September 15th. T. Rowe Price Group’s dividend payout ratio is 52.16%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on TROW. Zacks Research cut shares of T. Rowe Price Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 13th. Evercore set a $118.00 target price on shares of T. Rowe Price Group in a research note on Monday, August 10th. Barclays dropped their target price on shares of T. Rowe Price Group from $108.00 to $103.00 and set an “underweight” rating for the company in a report on Monday, August 3rd. TD Cowen increased their price target on T. Rowe Price Group from $107.00 to $108.00 and gave the stock a “hold” rating in a research note on Monday, August 3rd. Finally, The Goldman Sachs Group raised their price target on T. Rowe Price Group from $90.00 to $92.00 and gave the company a “sell” rating in a report on Tuesday, June 30th. Ten research analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Reduce” and a consensus 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.