Bamco Inc. NY Sells 14,248 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Bamco Inc. NY reduced its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 7.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 171,272 shares of the asset manager’s stock after selling 14,248 shares during the quarter. Bamco Inc. NY’s holdings in T. Rowe Price Group were worth $20,881,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Price T Rowe Associates Inc. MD grew its position in shares of T. Rowe Price Group by 0.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 295,449 shares of the asset manager’s stock worth $36,022,000 after buying an additional 2,323 shares during the last quarter. BOKF NA grew its position in shares of T. Rowe Price Group by 620.3% in the 1st quarter. BOKF NA now owns 107,560 shares of the asset manager’s stock worth $12,939,000 after buying an additional 92,628 shares during the last quarter. JT Stratford LLC grew its position in shares of T. Rowe Price Group by 31.2% in the 1st quarter. JT Stratford LLC now owns 12,371 shares of the asset manager’s stock worth $1,508,000 after buying an additional 2,940 shares during the last quarter. Toronto Dominion Bank grew its position in shares of T. Rowe Price Group by 83.4% in the 1st quarter. Toronto Dominion Bank now owns 129,674 shares of the asset manager’s stock worth $15,810,000 after buying an additional 58,987 shares during the last quarter. Finally, Cadence Bank grew its position in shares of T. Rowe Price Group by 1.5% in the 1st quarter. Cadence Bank now owns 9,389 shares of the asset manager’s stock worth $1,145,000 after buying an additional 135 shares during the last quarter. 73.39% of the stock is currently owned by institutional investors.

T. Rowe Price Group Trading Down 3.0 %

NASDAQ:TROW traded down $3.41 during trading hours on Friday, reaching $112.08. 1,972,652 shares of the company traded hands, compared to its average volume of 900,273. The business’s 50-day moving average price is $116.47 and its two-hundred day moving average price is $114.14. The stock has a market capitalization of $25.03 billion, a P/E ratio of 13.31, a P/E/G ratio of 1.63 and a beta of 1.42. T. Rowe Price Group, Inc. has a 1 year low of $87.43 and a 1 year high of $132.76.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings data on Friday, July 26th. The asset manager reported $2.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.25 by $0.01. The business had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.79 billion. T. Rowe Price Group had a return on equity of 19.70% and a net margin of 29.09%. The firm’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.02 earnings per share. As a group, equities analysts anticipate that T. Rowe Price Group, Inc. will post 8.98 EPS for the current year.

T. Rowe Price Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 27th. Shareholders of record on Friday, June 14th were issued a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a dividend yield of 4.43%. The ex-dividend date was Friday, June 14th. T. Rowe Price Group’s payout ratio is 58.91%.

Insiders Place Their Bets

In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 1,401 shares of T. Rowe Price Group stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $115.85, for a total value of $162,305.85. Following the completion of the sale, the insider now owns 14,198 shares of the company’s stock, valued at approximately $1,644,838.30. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 1,401 shares of T. Rowe Price Group stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $115.85, for a total value of $162,305.85. Following the completion of the sale, the insider now owns 14,198 shares of the company’s stock, valued at approximately $1,644,838.30. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Dorothy C. Sawyer sold 2,000 shares of T. Rowe Price Group stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $117.00, for a total value of $234,000.00. Following the completion of the sale, the vice president now directly owns 34,710 shares of the company’s stock, valued at approximately $4,061,070. The disclosure for this sale can be found here. In the last quarter, insiders sold 6,444 shares of company stock valued at $740,408. Corporate insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on TROW. UBS Group lifted their price objective on T. Rowe Price Group from $100.00 to $109.00 and gave the stock a “sell” rating in a research report on Friday, April 12th. Evercore ISI lowered their target price on T. Rowe Price Group from $110.00 to $107.00 and set an “in-line” rating for the company in a research note on Tuesday, April 30th. Morgan Stanley raised their target price on T. Rowe Price Group from $114.00 to $125.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 17th. Keefe, Bruyette & Woods raised their target price on T. Rowe Price Group from $120.00 to $121.00 and gave the company a “market perform” rating in a research note on Friday, July 12th. Finally, StockNews.com upgraded T. Rowe Price Group from a “hold” rating to a “buy” rating in a research note on Wednesday, July 10th. Four research analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat, T. Rowe Price Group presently has an average rating of “Hold” and a consensus target price of $113.50.

T. Rowe Price Group Company Profile

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.