Keybank National Association OH Trims Stake in T. Rowe Price Group, Inc. $TROW

Keybank National Association OH cut its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 4.4% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 118,336 shares of the asset manager’s stock after selling 5,493 shares during the period. Keybank National Association OH’s holdings in T. Rowe Price Group were worth $10,667,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in the company. Argent Advisors Inc. grew its position in shares of T. Rowe Price Group by 19.2% during the 1st quarter. Argent Advisors Inc. now owns 12,364 shares of the asset manager’s stock worth $1,114,000 after buying an additional 1,995 shares in the last quarter. USS Investment Management Ltd lifted its stake in T. Rowe Price Group by 3.4% in the first quarter. USS Investment Management Ltd now owns 40,397 shares of the asset manager’s stock worth $3,642,000 after acquiring an additional 1,346 shares during the period. IFM Investors Pty Ltd grew its holdings in T. Rowe Price Group by 4.3% during the 1st quarter. IFM Investors Pty Ltd now owns 44,561 shares of the asset manager’s stock worth $4,017,000 after acquiring an additional 1,830 shares in the last quarter. Acorn Financial Advisory Services Inc. ADV bought a new position in T. Rowe Price Group during the 1st quarter worth about $571,000. Finally, Capricorn Fund Managers Ltd purchased a new position in T. Rowe Price Group during the 1st quarter valued at about $7,524,000. 73.39% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on TROW shares. Evercore boosted their price target on shares of T. Rowe Price Group from $106.00 to $111.00 in a report on Monday, June 8th. TD Cowen increased their price objective on shares of T. Rowe Price Group from $93.00 to $94.00 and gave the company a “hold” rating in a research note on Friday, May 1st. Keefe, Bruyette & Woods lifted their price objective on shares of T. Rowe Price Group from $95.00 to $107.00 and gave the company a “market perform” rating in a report on Friday, May 1st. The Goldman Sachs Group boosted their price objective on shares of T. Rowe Price Group from $90.00 to $92.00 and gave the stock a “sell” rating in a research note on Tuesday. Finally, BMO Capital Markets upped their target price on T. Rowe Price Group from $98.00 to $110.00 and gave the stock a “market perform” rating in a report on Monday, May 4th. Eleven analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat, T. Rowe Price Group has an average rating of “Reduce” and an average target price of $100.54.

T. Rowe Price Group Price Performance

Shares of TROW opened at $118.55 on Friday. The company has a 50 day moving average of $105.76 and a two-hundred day moving average of $100.36. T. Rowe Price Group, Inc. has a twelve month low of $85.22 and a twelve month high of $118.64. The company has a market cap of $25.40 billion, a price-to-earnings ratio of 12.71, a price-to-earnings-growth ratio of 6.02 and a beta of 1.47.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings results on Thursday, April 30th. The asset manager reported $2.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.37 by $0.15. T. Rowe Price Group had a return on equity of 20.60% and a net margin of 28.28%.The business had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.85 billion. During the same period in the prior year, the firm posted $2.23 earnings per share. The business’s quarterly revenue was up 5.3% on a year-over-year basis. On average, sell-side analysts expect that T. Rowe Price Group, Inc. will post 9.69 EPS for the current year.

T. Rowe Price Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 29th. Shareholders of record on Monday, June 15th were paid a $1.30 dividend. The ex-dividend date was Monday, June 15th. This represents a $5.20 dividend on an annualized basis and a yield of 4.4%. T. Rowe Price Group’s dividend payout ratio (DPR) is 55.73%.

Insiders Place Their Bets

In other T. Rowe Price Group news, VP Stephon A. Jackson sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $102.56, for a total value of $307,680.00. Following the completion of the sale, the vice president owned 83,883 shares of the company’s stock, valued at approximately $8,603,040.48. This trade represents a 3.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.60% of the company’s stock.

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.