Trust Co. of Vermont Sells 454 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Trust Co. of Vermont lessened its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 3.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,334 shares of the asset manager’s stock after selling 454 shares during the quarter. Trust Co. of Vermont’s holdings in T. Rowe Price Group were worth $1,422,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in TROW. Confluence Investment Management LLC bought a new position in shares of T. Rowe Price Group during the 1st quarter worth about $130,386,000. International Assets Investment Management LLC lifted its position in T. Rowe Price Group by 8,968.6% in the 4th quarter. International Assets Investment Management LLC now owns 902,146 shares of the asset manager’s stock valued at $97,152,000 after acquiring an additional 892,198 shares in the last quarter. UBS Group AG lifted its position in T. Rowe Price Group by 473.3% in the 4th quarter. UBS Group AG now owns 975,226 shares of the asset manager’s stock valued at $105,022,000 after acquiring an additional 805,106 shares in the last quarter. Norges Bank bought a new position in T. Rowe Price Group in the 4th quarter valued at about $80,831,000. Finally, Hsbc Holdings PLC lifted its position in T. Rowe Price Group by 66.8% in the 4th quarter. Hsbc Holdings PLC now owns 765,080 shares of the asset manager’s stock valued at $82,434,000 after acquiring an additional 306,524 shares in the last quarter. Institutional investors own 73.39% of the company’s stock.

Insider Activity

In other news, insider Jessica M. Hiebler sold 1,401 shares of T. Rowe Price Group stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $115.85, for a total transaction of $162,305.85. Following the completion of the sale, the insider now directly owns 14,198 shares of the company’s stock, valued at approximately $1,644,838.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 1,401 shares of the business’s stock in a transaction on Thursday, June 27th. The shares were 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 directly owns 14,198 shares of the company’s stock, valued at $1,644,838.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Dorothy C. Sawyer sold 2,000 shares of the business’s stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $117.00, for a total transaction 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 $4,061,070. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on TROW shares. JPMorgan Chase & Co. raised their price target on shares of T. Rowe Price Group from $102.00 to $107.00 and gave the company an “underweight” rating in a research report on Tuesday, July 23rd. Evercore ISI dropped their price target on shares of T. Rowe Price Group from $110.00 to $107.00 and set an “in-line” rating on the stock in a research report on Tuesday, April 30th. UBS Group raised their price target on shares of T. Rowe Price Group from $100.00 to $109.00 and gave the company a “sell” rating in a research report on Friday, April 12th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $120.00 price target (down previously from $121.00) on shares of T. Rowe Price Group in a research report on Monday, July 29th. Finally, Morgan Stanley lifted their target price on shares of T. Rowe Price Group from $114.00 to $125.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 17th. Three investment analysts have rated the stock with a sell rating and seven have given a hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $114.56.

T. Rowe Price Group Stock Performance

Shares of T. Rowe Price Group stock traded up $0.73 during mid-day trading on Tuesday, hitting $103.89. 1,149,025 shares of the stock were exchanged, compared to its average volume of 1,315,877. T. Rowe Price Group, Inc. has a 12 month low of $87.43 and a 12 month high of $122.27. The company has a 50-day simple moving average of $115.59 and a 200 day simple moving average of $114.23. The company has a market capitalization of $23.13 billion, a P/E ratio of 12.40, a P/E/G ratio of 1.65 and a beta of 1.42.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings results on Friday, July 26th. The asset manager reported $2.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.27 by ($0.01). T. Rowe Price Group had a return on equity of 19.90% and a net margin of 28.66%. The company had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.79 billion. During the same quarter in the previous year, the business earned $2.02 EPS. The company’s revenue for the quarter was up 7.6% on a year-over-year basis. Analysts predict that T. Rowe Price Group, Inc. will post 8.98 EPS for the current year.

T. Rowe Price Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be paid a $1.24 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $4.96 dividend on an annualized basis and a yield of 4.77%. T. Rowe Price Group’s dividend payout ratio is 58.91%.

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.