Boston Trust Walden Corp Has $20.74 Million Position in T. Rowe Price Group, Inc. $TROW

Boston Trust Walden Corp cut its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 29.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 202,027 shares of the asset manager’s stock after selling 83,303 shares during the quarter. Boston Trust Walden Corp owned approximately 0.09% of T. Rowe Price Group worth $20,736,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Retireful LLC acquired a new position in shares of T. Rowe Price Group during the third quarter valued at about $714,000. SRH Advisors LLC bought a new stake in T. Rowe Price Group in the 3rd quarter valued at about $108,000. KW Wealth Management LLC acquired a new position in T. Rowe Price Group during the 3rd quarter worth approximately $210,000. BankPlus Trust Department boosted its holdings in T. Rowe Price Group by 7,333.3% in the third quarter. BankPlus Trust Department now owns 2,899 shares of the asset manager’s stock worth $298,000 after acquiring an additional 2,860 shares in the last quarter. Finally, Bard Financial Services Inc. grew its stake in T. Rowe Price Group by 67.7% in the third quarter. Bard Financial Services Inc. now owns 6,750 shares of the asset manager’s stock valued at $693,000 after acquiring an additional 2,725 shares during the period. 73.39% of the stock is owned by institutional investors.

Insider Buying and Selling at T. Rowe Price Group

In related news, VP Arif Husain sold 4,260 shares of the business’s stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $101.96, for a total value of $434,349.60. Following the transaction, the vice president directly owned 47,102 shares of the company’s stock, valued at approximately $4,802,519.92. The trade was a 8.29% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.60% of the company’s stock.

Wall Street Analyst Weigh In

TROW has been the topic of a number of recent research reports. The Goldman Sachs Group cut their target price on T. Rowe Price Group from $98.00 to $93.00 and set a “sell” rating on the stock in a report on Tuesday, November 25th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of T. Rowe Price Group in a research note on Wednesday, October 8th. TD Cowen lifted their price objective on shares of T. Rowe Price Group from $108.00 to $112.00 and gave the company a “hold” rating in a report on Monday, November 3rd. JPMorgan Chase & Co. upped their target price on shares of T. Rowe Price Group from $109.00 to $111.00 and gave the stock an “underweight” rating in a report on Monday, November 3rd. Finally, Deutsche Bank Aktiengesellschaft cut their price target on T. Rowe Price Group from $113.00 to $106.00 and set a “hold” rating for the company in a research note on Wednesday, December 17th. Twelve investment analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus price target of $108.31.

T. Rowe Price Group Stock Performance

NASDAQ:TROW opened at $104.53 on Tuesday. T. Rowe Price Group, Inc. has a 52 week low of $77.85 and a 52 week high of $118.32. The firm has a 50-day moving average price of $102.90 and a two-hundred day moving average price of $103.28. The firm has a market cap of $22.81 billion, a price-to-earnings ratio of 11.39, a price-to-earnings-growth ratio of 2.83 and a beta of 1.53.

T. Rowe Price Group (NASDAQ:TROW) last released its earnings results on Friday, October 31st. The asset manager reported $2.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.55 by $0.26. The company had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.88 billion. T. Rowe Price Group had a return on equity of 19.95% and a net margin of 28.89%.T. Rowe Price Group’s quarterly revenue was up 6.0% on a year-over-year basis. During the same period in the prior year, the company posted $2.57 earnings per share. As a group, sell-side analysts forecast that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current year.

T. Rowe Price Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Monday, December 15th will be paid a dividend of $1.27 per share. This represents a $5.08 dividend on an annualized basis and a dividend yield of 4.9%. The ex-dividend date is Monday, December 15th. T. Rowe Price Group’s payout ratio is presently 55.34%.

About T. Rowe Price Group

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.