NewEdge Advisors LLC Trims Holdings in T. Rowe Price Group, Inc. $TROW

NewEdge Advisors LLC lowered its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 19.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,818 shares of the asset manager’s stock after selling 7,581 shares during the quarter. NewEdge Advisors LLC’s holdings in T. Rowe Price Group were worth $2,778,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Robeco Institutional Asset Management B.V. grew its stake in T. Rowe Price Group by 17.4% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 79,003 shares of the asset manager’s stock worth $8,088,000 after purchasing an additional 11,691 shares in the last quarter. SVB Wealth LLC raised its stake in T. Rowe Price Group by 77.5% during the fourth quarter. SVB Wealth LLC now owns 37,000 shares of the asset manager’s stock valued at $3,788,000 after buying an additional 16,155 shares in the last quarter. LBP AM SA lifted its holdings in T. Rowe Price Group by 23.9% during the 4th quarter. LBP AM SA now owns 156,879 shares of the asset manager’s stock worth $16,061,000 after buying an additional 30,226 shares during the last quarter. Generali Asset Management SPA SGR lifted its holdings in T. Rowe Price Group by 1,680.4% during the 4th quarter. Generali Asset Management SPA SGR now owns 17,715 shares of the asset manager’s stock worth $1,814,000 after buying an additional 16,720 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of T. Rowe Price Group by 3.8% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 520,782 shares of the asset manager’s stock worth $54,489,000 after acquiring an additional 18,952 shares in the last quarter. Institutional investors own 73.39% of the company’s stock.

T. Rowe Price Group Price Performance

NASDAQ:TROW opened at $111.30 on Friday. The firm has a market capitalization of $23.74 billion, a P/E ratio of 11.16, a P/E/G ratio of 4.34 and a beta of 1.47. The business has a 50 day simple moving average of $113.43 and a 200 day simple moving average of $102.60. T. Rowe Price Group, Inc. has a 12-month low of $85.22 and a 12-month high of $122.00.

T. Rowe Price Group (NASDAQ:TROW) last issued its earnings results on Friday, July 31st. The asset manager reported $2.57 earnings per share for the quarter, topping the consensus estimate of $2.52 by $0.05. The firm had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.89 billion. T. Rowe Price Group had a return on equity of 20.91% and a net margin of 29.26%.The firm’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same period last year, the company earned $2.24 earnings per share. Research analysts anticipate that T. Rowe Price Group, Inc. will post 10.13 EPS for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th will be issued a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date of this dividend is Tuesday, September 15th. T. Rowe Price Group’s dividend payout ratio (DPR) is 52.16%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Evercore set a $118.00 price target on T. Rowe Price Group in a research report on Monday. Morgan Stanley set a $116.00 price objective on shares of T. Rowe Price Group in a report on Wednesday, July 29th. Zacks Research upgraded shares of T. Rowe Price Group from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 15th. BMO Capital Markets raised their price target on shares of T. Rowe Price Group from $110.00 to $120.00 and gave the stock a “market perform” rating in a research report on Monday, August 3rd. Finally, TD Cowen lifted their price target on shares of T. Rowe Price Group from $107.00 to $108.00 and gave the company a “hold” rating in a report on Monday, August 3rd. One analyst has rated the stock with a Strong Buy rating, nine have issued a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus target price of $105.67.

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.