Heritage Investors Management Corp Sells 7,423 Shares of T. Rowe Price Group, Inc. $TROW

Heritage Investors Management Corp trimmed its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 5.2% during the first quarter, HoldingsChannel reports. The firm owned 136,589 shares of the asset manager’s stock after selling 7,423 shares during the quarter. Heritage Investors Management Corp’s holdings in T. Rowe Price Group were worth $12,312,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in TROW. Argent Advisors Inc. grew its holdings in shares of T. Rowe Price Group by 19.2% in the 1st quarter. Argent Advisors Inc. now owns 12,364 shares of the asset manager’s stock valued at $1,114,000 after buying an additional 1,995 shares during the period. USS Investment Management Ltd grew 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 valued at $3,642,000 after acquiring an additional 1,346 shares during the period. IFM Investors Pty Ltd increased its holdings in shares of T. Rowe Price Group by 4.3% in the first 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 stake in shares of T. Rowe Price Group in the first quarter worth about $571,000. Finally, Capricorn Fund Managers Ltd bought a new stake in shares of T. Rowe Price Group in the first quarter worth about $7,524,000. Institutional investors and hedge funds own 73.39% of the company’s stock.

T. Rowe Price Group Price Performance

Shares of T. Rowe Price Group stock opened at $118.55 on Friday. The firm has a market cap of $25.40 billion, a price-to-earnings ratio of 12.71, a price-to-earnings-growth ratio of 5.90 and a beta of 1.47. The stock’s 50-day moving average is $105.40 and its 200-day moving average is $100.23. T. Rowe Price Group, Inc. has a one year low of $85.22 and a one year high of $118.64.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $1.85 billion. During the same period last year, the company earned $2.23 earnings per share. T. Rowe Price Group’s quarterly revenue was up 5.3% on a year-over-year basis. On average, equities analysts expect that T. Rowe Price Group, Inc. will post 9.69 EPS for the current year.

T. Rowe Price Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 29th. Shareholders of record on Monday, June 15th were given a dividend of $1.30 per share. The ex-dividend date of this dividend 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 is 55.73%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on TROW shares. BMO Capital Markets lifted their price objective on T. Rowe Price Group from $98.00 to $110.00 and gave the company a “market perform” rating in a report on Monday, May 4th. TD Cowen increased their target price on T. Rowe Price Group from $93.00 to $94.00 and gave the stock a “hold” rating in a research note on Friday, May 1st. The Goldman Sachs Group increased their target price on T. Rowe Price Group from $90.00 to $92.00 and gave the stock a “sell” rating in a research note on Tuesday. Keefe, Bruyette & Woods lifted their price target on shares of T. Rowe Price Group from $95.00 to $107.00 and gave the company a “market perform” rating in a research note on Friday, May 1st. Finally, Zacks Research raised shares of T. Rowe Price Group from a “strong sell” rating to a “hold” rating in a research note on Wednesday, May 13th. Eleven analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and an average target price of $100.54.

Insiders Place Their Bets

In other news, VP Stephon A. Jackson sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $102.56, for a total transaction of $307,680.00. Following the completion of the transaction, the vice president directly owned 83,883 shares of the company’s stock, valued at $8,603,040.48. This trade represents a 3.45% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.60% of the stock is currently owned by company insiders.

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.