Bank of Montreal Can Sells 14,878 Shares of T. Rowe Price Group, Inc. $TROW

Bank of Montreal Can lowered its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 2.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 683,678 shares of the asset manager’s stock after selling 14,878 shares during the quarter. Bank of Montreal Can owned about 0.31% of T. Rowe Price Group worth $65,975,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in TROW. Zions Bancorporation National Association UT bought a new position in shares of T. Rowe Price Group in the first quarter worth $27,000. Hexagon Capital Partners LLC increased its holdings in shares of T. Rowe Price Group by 44.8% in the first quarter. Hexagon Capital Partners LLC now owns 365 shares of the asset manager’s stock worth $34,000 after purchasing an additional 113 shares during the period. Curio Wealth LLC increased its holdings in shares of T. Rowe Price Group by 20,700.0% in the second quarter. Curio Wealth LLC now owns 416 shares of the asset manager’s stock worth $40,000 after purchasing an additional 414 shares during the period. Cromwell Holdings LLC increased its stake in T. Rowe Price Group by 3,483.3% in the second quarter. Cromwell Holdings LLC now owns 430 shares of the asset manager’s stock valued at $41,000 after acquiring an additional 418 shares during the last quarter. Finally, Wayfinding Financial LLC bought a new position in T. Rowe Price Group in the first quarter valued at $43,000. Institutional investors own 73.39% of the company’s stock.

T. Rowe Price Group Trading Down 0.4%

Shares of NASDAQ:TROW opened at $101.27 on Wednesday. The stock’s 50-day moving average price is $104.81 and its 200-day moving average price is $100.53. T. Rowe Price Group, Inc. has a 12-month low of $77.85 and a 12-month high of $125.81. The stock has a market capitalization of $22.25 billion, a P/E ratio of 11.32, a price-to-earnings-growth ratio of 5.61 and a beta of 1.50.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings data on Friday, October 31st. The asset manager reported $2.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.55 by $0.26. T. Rowe Price Group had a return on equity of 19.77% and a net margin of 28.72%.The firm had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.88 billion. During the same period last year, the firm earned $2.57 earnings per share. The company’s revenue for the quarter was up 6.0% compared to the same quarter last year. As a group, research analysts predict that T. Rowe Price Group, Inc. will post 9.29 EPS for the current year.

T. Rowe Price Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Monday, December 15th will be issued a dividend of $1.27 per share. This represents a $5.08 dividend on an annualized basis and a dividend yield of 5.0%. The ex-dividend date is Monday, December 15th. T. Rowe Price Group’s dividend payout ratio is currently 55.34%.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. JPMorgan Chase & Co. increased their target price on T. Rowe Price Group from $109.00 to $111.00 and gave the company an “underweight” rating in a research note on Monday. Citigroup increased their target price on T. Rowe Price Group from $105.00 to $107.00 in a research note on Monday. Deutsche Bank Aktiengesellschaft reduced their target price on T. Rowe Price Group from $114.00 to $112.00 and set a “hold” rating on the stock in a research note on Monday. Wells Fargo & Company increased their target price on T. Rowe Price Group from $98.00 to $108.00 and gave the company an “equal weight” rating in a research note on Friday, July 11th. Finally, Evercore ISI increased their target price on T. Rowe Price Group from $115.00 to $118.00 and gave the company an “in-line” rating in a research note on Thursday, October 9th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Reduce” and an average price target of $109.31.

Insider Buying and Selling at T. Rowe Price Group

In other news, Director Robert F. Maclellan sold 3,090 shares of the stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $105.01, for a total transaction of $324,480.90. Following the completion of the sale, the director directly owned 47,335 shares in the company, valued at approximately $4,970,648.35. This represents a 6.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.00% of the company’s stock.

About T. Rowe Price Group

T. Rowe Price Group, Inc is a publicly owned investment manager. The firm provides its services to individuals, institutional investors, retirement plans, financial intermediaries, and institutions. It launches and manages equity and fixed income mutual funds. The firm invests in the public equity and fixed income markets across the globe.