Bradley Foster & Sargent Inc. CT Cuts Stock Holdings in T. Rowe Price Group, Inc. $TROW

Bradley Foster & Sargent Inc. CT reduced its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 32.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,126 shares of the asset manager’s stock after selling 4,475 shares during the quarter. Bradley Foster & Sargent Inc. CT’s holdings in T. Rowe Price Group were worth $823,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Goldman Sachs Group Inc. grew its position in T. Rowe Price Group by 332.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 8,770,071 shares of the asset manager’s stock worth $897,880,000 after acquiring an additional 6,740,172 shares during the last quarter. First Trust Advisors LP lifted its position in T. Rowe Price Group by 126.5% in the fourth quarter. First Trust Advisors LP now owns 3,280,854 shares of the asset manager’s stock valued at $335,894,000 after purchasing an additional 1,832,231 shares during the last quarter. Norges Bank purchased a new stake in shares of T. Rowe Price Group during the fourth quarter valued at approximately $128,283,000. PFA Pension Forsikringsaktieselskab purchased a new stake in shares of T. Rowe Price Group during the fourth quarter valued at approximately $61,073,000. Finally, Caisse de depot et placement du Quebec grew its holdings in shares of T. Rowe Price Group by 81.0% in the third quarter. Caisse de depot et placement du Quebec now owns 1,306,922 shares of the asset manager’s stock worth $134,142,000 after purchasing an additional 584,949 shares during the last quarter. Institutional investors own 73.39% of the company’s stock.

T. Rowe Price Group Stock Up 2.3%

Shares of T. Rowe Price Group stock opened at $119.21 on Tuesday. The business has a 50 day moving average of $110.52 and a 200 day moving average of $101.81. T. Rowe Price Group, Inc. has a 52 week low of $85.22 and a 52 week high of $121.17. The company has a market cap of $25.54 billion, a PE ratio of 12.78, a P/E/G ratio of 4.18 and a beta of 1.47.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings results on Thursday, April 30th. The asset manager reported $2.52 earnings per share for the quarter, beating the consensus estimate of $2.37 by $0.15. The business had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.85 billion. T. Rowe Price Group had a net margin of 28.28% and a return on equity of 20.60%. The firm’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.23 earnings per share. On average, research analysts anticipate that T. Rowe Price Group, Inc. will post 10.12 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

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

Insider Buying and Selling at T. Rowe Price Group

In other news, VP Stephon A. Jackson sold 3,000 shares of T. Rowe Price Group stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $102.56, for a total transaction of $307,680.00. Following the sale, the vice president owned 83,883 shares of the company’s stock, valued at approximately $8,603,040.48. The trade was a 3.45% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on TROW shares. Evercore set a $121.00 target price on shares of T. Rowe Price Group in a research note on Friday, July 10th. BMO Capital Markets raised their price target on shares of 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. Keefe, Bruyette & Woods boosted their price objective on shares of T. Rowe Price Group from $107.00 to $120.00 and gave the company a “market perform” rating in a research report on Friday, July 10th. The Goldman Sachs Group upped their price objective on shares of T. Rowe Price Group from $90.00 to $92.00 and gave the company a “sell” rating in a research note on Tuesday, June 30th. Finally, JPMorgan Chase & Co. dropped their target price on shares of T. Rowe Price Group from $106.00 to $103.00 and set an “underweight” rating for the company in a report on Friday, April 24th. One analyst has rated the stock with a Strong Buy rating, nine have given a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus target price of $104.50.

T. Rowe Price Group Company 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.