Boston Trust Walden Corp Reduces Position in T. Rowe Price Group, Inc. $TROW

Boston Trust Walden Corp trimmed its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 4.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 110,044 shares of the asset manager’s stock after selling 4,806 shares during the quarter. Boston Trust Walden Corp owned approximately 0.05% of T. Rowe Price Group worth $12,511,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. Woodline Partners LP grew its holdings in shares of T. Rowe Price Group by 41.0% in the first quarter. Woodline Partners LP now owns 18,809 shares of the asset manager’s stock worth $1,728,000 after purchasing an additional 5,467 shares during the last quarter. Focus Partners Wealth grew its stake in T. Rowe Price Group by 10.6% in the 1st quarter. Focus Partners Wealth now owns 13,054 shares of the asset manager’s stock worth $1,199,000 after acquiring an additional 1,250 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in shares of T. Rowe Price Group by 44.8% during the second quarter. EverSource Wealth Advisors LLC now owns 1,546 shares of the asset manager’s stock worth $149,000 after acquiring an additional 478 shares during the period. Jump Financial LLC purchased a new position in shares of T. Rowe Price Group during the second quarter worth approximately $931,000. Finally, Daiwa Securities Group Inc. raised its stake in shares of T. Rowe Price Group by 5.4% during the second quarter. Daiwa Securities Group Inc. now owns 33,245 shares of the asset manager’s stock valued at $3,208,000 after acquiring an additional 1,703 shares in the last quarter. Hedge funds and other institutional investors own 73.39% of the company’s stock.

T. Rowe Price Group Stock Down 0.7%

Shares of T. Rowe Price Group stock opened at $110.56 on Friday. The company has a market cap of $23.58 billion, a P/E ratio of 11.09, a PEG ratio of 4.33 and a beta of 1.47. The firm’s 50 day moving average price is $113.52 and its 200-day moving average price is $102.66. T. Rowe Price Group, Inc. has a 52-week low of $85.22 and a 52-week high of $122.00.

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

T. Rowe Price Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th will be given a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 4.7%. The ex-dividend date of this dividend is Tuesday, September 15th. T. Rowe Price Group’s dividend payout ratio is currently 52.16%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on TROW shares. Morgan Stanley set a $116.00 price objective on T. Rowe Price Group in a research note on Wednesday, July 29th. The Goldman Sachs Group lifted their price objective on T. Rowe Price Group from $90.00 to $92.00 and gave the company a “sell” rating in a report on Tuesday, June 30th. JPMorgan Chase & Co. cut their target price on shares of T. Rowe Price Group from $106.00 to $103.00 and set an “underweight” rating on the stock in a research report on Friday, April 24th. BMO Capital Markets increased their price objective on shares of T. Rowe Price Group from $110.00 to $120.00 and gave the company a “market perform” rating in a research note on Monday, August 3rd. Finally, Weiss Ratings upgraded T. Rowe Price Group from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, July 2nd. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average price target of $105.67.

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.