Steigerwald Gordon & Koch Inc. Lowers Stock Holdings in T. Rowe Price Group, Inc. $TROW

Steigerwald Gordon & Koch Inc. trimmed its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 29.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 70,715 shares of the asset manager’s stock after selling 29,754 shares during the period. Steigerwald Gordon & Koch Inc.’s holdings in T. Rowe Price Group were worth $6,374,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of TROW. Woodline Partners LP lifted its holdings in shares of T. Rowe Price Group by 41.0% in the 1st quarter. Woodline Partners LP now owns 18,809 shares of the asset manager’s stock worth $1,728,000 after acquiring an additional 5,467 shares during the last quarter. Focus Partners Wealth grew its holdings in shares of T. Rowe Price Group by 10.6% during the 1st quarter. Focus Partners Wealth now owns 13,054 shares of the asset manager’s stock valued at $1,199,000 after purchasing an additional 1,250 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in T. Rowe Price Group by 44.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,546 shares of the asset manager’s stock worth $149,000 after purchasing an additional 478 shares during the period. Jump Financial LLC purchased a new position in T. Rowe Price Group in the 2nd quarter worth $931,000. Finally, Daiwa Securities Group Inc. lifted its stake in T. Rowe Price Group by 5.4% in the second quarter. Daiwa Securities Group Inc. now owns 33,245 shares of the asset manager’s stock worth $3,208,000 after purchasing an additional 1,703 shares during the last quarter. Hedge funds and other institutional investors 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 PE ratio of 12.71, a price-to-earnings-growth ratio of 6.02 and a beta of 1.47. T. Rowe Price Group, Inc. has a 12-month low of $85.22 and a 12-month high of $118.64. The company’s fifty day simple moving average is $105.76 and its two-hundred day simple moving average is $100.36.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings data on Thursday, April 30th. The asset manager reported $2.52 EPS for the quarter, beating the consensus estimate of $2.37 by $0.15. The firm had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.85 billion. T. Rowe Price Group had a net margin of 28.28% and a return on equity of 20.60%. The company’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.23 earnings per share. As a group, sell-side analysts expect that T. Rowe Price Group, Inc. will post 9.69 earnings per share for the current fiscal 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 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 presently 55.73%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. The Goldman Sachs Group upped their price target on shares of T. Rowe Price Group from $90.00 to $92.00 and gave the company a “sell” rating in a research report on Tuesday, June 30th. JPMorgan Chase & Co. lowered their target price on T. Rowe Price Group from $106.00 to $103.00 and set an “underweight” rating for the company in a research note on Friday, April 24th. Zacks Research upgraded T. Rowe Price Group from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 13th. TD Cowen raised their price target on T. Rowe Price Group from $93.00 to $94.00 and gave the stock a “hold” rating in a research report on Friday, May 1st. Finally, Evercore raised their price target on T. Rowe Price Group from $106.00 to $111.00 in a research report on Monday, June 8th. Eleven investment analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat.com, T. Rowe Price Group currently has a consensus rating of “Reduce” and an average target price of $100.54.

Insider Buying and Selling

In other T. Rowe Price Group news, VP Stephon A. Jackson sold 3,000 shares of the stock in a transaction that occurred on 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 in the company, valued at approximately $8,603,040.48. This trade represents a 3.45% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.60% of the stock is owned by insiders.

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.