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

Trust Co. of Vermont decreased its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 5.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,754 shares of the asset manager’s stock after selling 714 shares during the period. Trust Co. of Vermont’s holdings in T. Rowe Price Group were worth $1,080,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Glenview Trust co lifted its stake in T. Rowe Price Group by 2.2% during the 4th quarter. Glenview Trust co now owns 4,318 shares of the asset manager’s stock worth $488,000 after acquiring an additional 92 shares in the last quarter. Strategy Asset Managers LLC lifted its stake in T. Rowe Price Group by 5.0% during the 4th quarter. Strategy Asset Managers LLC now owns 2,277 shares of the asset manager’s stock worth $258,000 after acquiring an additional 108 shares in the last quarter. Wealthcare Capital Partners LLC lifted its stake in T. Rowe Price Group by 1.2% during the 1st quarter. Wealthcare Capital Partners LLC now owns 9,429 shares of the asset manager’s stock worth $866,000 after acquiring an additional 115 shares in the last quarter. Cullen Investment Group LTD. lifted its stake in T. Rowe Price Group by 0.9% during the 1st quarter. Cullen Investment Group LTD. now owns 13,554 shares of the asset manager’s stock worth $1,245,000 after acquiring an additional 117 shares in the last quarter. Finally, IFP Advisors Inc lifted its stake in T. Rowe Price Group by 3.2% during the 4th quarter. IFP Advisors Inc now owns 3,792 shares of the asset manager’s stock worth $429,000 after acquiring an additional 119 shares in the last quarter. Institutional investors and hedge funds own 73.39% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on TROW shares. JPMorgan Chase & Co. decreased their target price on T. Rowe Price Group from $110.00 to $90.00 and set an “underweight” rating on the stock in a research note on Wednesday, April 16th. Bank of America reduced their price target on T. Rowe Price Group from $90.00 to $85.00 and set an “underperform” rating on the stock in a research report on Thursday, April 3rd. Barclays increased their price target on T. Rowe Price Group from $85.00 to $90.00 and gave the company an “underweight” rating in a research report on Monday, May 5th. Wells Fargo & Company reduced their price target on T. Rowe Price Group from $116.00 to $98.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 8th. Finally, TD Cowen reduced their price target on T. Rowe Price Group from $112.00 to $89.00 and set a “hold” rating on the stock in a research report on Wednesday, April 9th. Four analysts have rated the stock with a sell rating and nine have issued a hold rating to the company. According to MarketBeat.com, T. Rowe Price Group has a consensus rating of “Hold” and an average price target of $94.09.

T. Rowe Price Group Stock Performance

TROW opened at $96.10 on Friday. T. Rowe Price Group, Inc. has a one year low of $77.85 and a one year high of $125.81. The company has a market cap of $21.17 billion, a P/E ratio of 10.90, a PEG ratio of 3.12 and a beta of 1.49. The business’s 50-day simple moving average is $93.03 and its 200-day simple moving average is $100.53.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings data on Friday, May 2nd. The asset manager reported $2.23 EPS for the quarter, beating analysts’ consensus estimates of $2.13 by $0.10. T. Rowe Price Group had a return on equity of 20.17% and a net margin of 28.38%. The business had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.80 billion. During the same quarter in the prior year, the business posted $2.38 EPS. The business’s revenue for the quarter was up .8% on a year-over-year basis. As a group, analysts predict that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Friday, June 13th were issued a $1.27 dividend. The ex-dividend date was Friday, June 13th. This represents a $5.08 dividend on an annualized basis and a dividend yield of 5.29%. T. Rowe Price Group’s payout ratio is currently 57.60%.

Insider Activity

In related news, insider Jessica M. Hiebler sold 968 shares of the firm’s stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $96.98, for a total transaction of $93,876.64. Following the transaction, the insider now owns 13,611 shares in the company, valued at $1,319,994.78. This trade represents a 6.64% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Dorothy C. Sawyer sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $95.43, for a total value of $190,860.00. Following the transaction, the vice president now owns 44,789 shares in the company, valued at $4,274,214.27. This represents a 4.27% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 6,923 shares of company stock worth $646,856. 2.00% of the stock is currently owned by insiders.

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.