Trust Co. of Vermont Sells 347 Shares of T. Rowe Price Group, Inc. $TROW

Trust Co. of Vermont lessened its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 3.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 11,407 shares of the asset manager’s stock after selling 347 shares during the period. Trust Co. of Vermont’s holdings in T. Rowe Price Group were worth $1,101,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in TROW. Wellington Management Group LLP grew its position in shares of T. Rowe Price Group by 30.9% in the 4th quarter. Wellington Management Group LLP now owns 72,092 shares of the asset manager’s stock valued at $8,153,000 after buying an additional 16,999 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of T. Rowe Price Group by 9,555.5% during the 1st quarter. GAMMA Investing LLC now owns 333,212 shares of the asset manager’s stock valued at $30,612,000 after purchasing an additional 329,761 shares in the last quarter. Rhumbline Advisers boosted its position in shares of T. Rowe Price Group by 3.8% during the 1st quarter. Rhumbline Advisers now owns 453,740 shares of the asset manager’s stock valued at $41,685,000 after purchasing an additional 16,693 shares in the last quarter. Czech National Bank boosted its position in shares of T. Rowe Price Group by 6.2% during the 1st quarter. Czech National Bank now owns 51,135 shares of the asset manager’s stock valued at $4,698,000 after purchasing an additional 2,966 shares in the last quarter. Finally, Columbia Asset Management boosted its position in shares of T. Rowe Price Group by 57.3% during the 1st quarter. Columbia Asset Management now owns 14,484 shares of the asset manager’s stock valued at $1,331,000 after purchasing an additional 5,275 shares in the last quarter. Institutional investors own 73.39% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Zacks Research lowered T. Rowe Price Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 8th. JPMorgan Chase & Co. upped their target price on T. Rowe Price Group from $98.00 to $102.00 and gave the company an “underweight” rating in a research report on Monday, August 4th. Evercore ISI restated a “positive” rating on shares of T. Rowe Price Group in a research report on Friday, September 5th. Morgan Stanley upped their target price on T. Rowe Price Group from $112.00 to $116.00 and gave the company an “equal weight” rating in a research report on Monday, August 4th. Finally, Barclays restated an “underweight” rating and set a $95.00 target price (up previously from $91.00) on shares of T. Rowe Price Group in a research report on Monday, August 4th. One analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus target price of $101.55.

Insider Activity at T. Rowe Price Group

In other news, Director Robert F. Maclellan sold 3,090 shares of the stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $105.01, for a total value of $324,480.90. Following the completion of the sale, the director directly owned 47,335 shares of the company’s stock, valued at $4,970,648.35. This represents a 6.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.00% of the stock is currently owned by company insiders.

T. Rowe Price Group Stock Performance

TROW stock opened at $101.07 on Thursday. The stock’s 50 day simple moving average is $105.90 and its 200 day simple moving average is $97.95. T. Rowe Price Group, Inc. has a fifty-two week low of $77.85 and a fifty-two week high of $125.81. The company has a market cap of $22.21 billion, a P/E ratio of 11.29, a price-to-earnings-growth ratio of 2.66 and a beta of 1.50.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings results on Friday, August 1st. The asset manager reported $2.24 earnings per share for the quarter, topping analysts’ consensus estimates of $2.15 by $0.09. The business had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.72 billion. T. Rowe Price Group had a return on equity of 19.77% and a net margin of 28.72%.The firm’s revenue for the quarter was down .6% on a year-over-year basis. During the same period in the prior year, the business earned $2.26 EPS. Equities analysts predict that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current year.

T. Rowe Price Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Monday, September 15th were paid a $1.27 dividend. The ex-dividend date of this dividend was Monday, September 15th. This represents a $5.08 annualized dividend and a dividend yield of 5.0%. T. Rowe Price Group’s dividend payout ratio is 56.76%.

T. Rowe Price Group 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.