D.A. Davidson & CO. Has $6.46 Million Stake in T. Rowe Price Group, Inc. $TROW

D.A. Davidson & CO. lowered its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 38.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 56,774 shares of the asset manager’s stock after selling 36,211 shares during the period. D.A. Davidson & CO.’s holdings in T. Rowe Price Group were worth $6,455,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Wealthcare Capital Partners LLC raised its position in shares of T. Rowe Price Group by 1.0% in the second quarter. Wealthcare Capital Partners LLC now owns 9,565 shares of the asset manager’s stock worth $1,087,000 after buying an additional 93 shares in the last quarter. Kesler Norman & Wride LLC grew its position in T. Rowe Price Group by 0.6% during the second quarter. Kesler Norman & Wride LLC now owns 15,914 shares of the asset manager’s stock worth $1,809,000 after buying an additional 96 shares in the last quarter. MassMutual Private Wealth & Trust FSB increased its stake in T. Rowe Price Group by 9.4% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,150 shares of the asset manager’s stock worth $131,000 after acquiring an additional 99 shares during the last quarter. Oregon Public Employees Retirement Fund raised its holdings in shares of T. Rowe Price Group by 0.4% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 25,062 shares of the asset manager’s stock valued at $2,259,000 after acquiring an additional 100 shares in the last quarter. Finally, Concorde Asset Management LLC boosted its position in shares of T. Rowe Price Group by 3.9% during the 1st quarter. Concorde Asset Management LLC now owns 2,730 shares of the asset manager’s stock valued at $246,000 after acquiring an additional 102 shares during the last quarter. Institutional investors own 73.39% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on TROW. JPMorgan Chase & Co. cut their price target on shares of 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. Weiss Ratings upgraded shares of T. Rowe Price Group from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, July 2nd. Barclays lowered their price target on shares of T. Rowe Price Group from $108.00 to $103.00 and set an “underweight” rating for the company in a research note on Monday, August 3rd. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $109.00 price target on shares of T. Rowe Price Group in a research report on Monday, August 3rd. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $115.00 price objective (down from $120.00) on shares of T. Rowe Price Group in a research note on Monday, August 3rd. One research analyst has rated the stock with a Strong Buy rating, nine have given a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Reduce” and an average target price of $105.67.

T. Rowe Price Group Stock Down 0.7%

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

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly 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 business had revenue of $1.91 billion during the quarter, compared to analysts’ expectations of $1.89 billion. During the same quarter in the prior year, the company posted $2.24 EPS. The firm’s revenue for the quarter was up 10.7% compared to the same quarter last year. Equities research analysts anticipate that T. Rowe Price Group, Inc. will post 10.13 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

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

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.