Trust Co. of Toledo NA OH Sells 155 Shares of T. Rowe Price Group, Inc. $TROW

Trust Co. of Toledo NA OH lessened its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 3.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,189 shares of the asset manager’s stock after selling 155 shares during the quarter. Trust Co. of Toledo NA OH’s holdings in T. Rowe Price Group were worth $404,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of TROW. Park Avenue Securities LLC lifted its position in shares of T. Rowe Price Group by 16.5% during the 1st quarter. Park Avenue Securities LLC now owns 4,879 shares of the asset manager’s stock worth $448,000 after buying an additional 691 shares during the period. Farther Finance Advisors LLC raised its position in T. Rowe Price Group by 75.8% in the 1st quarter. Farther Finance Advisors LLC now owns 7,949 shares of the asset manager’s stock valued at $733,000 after purchasing an additional 3,427 shares during the last quarter. GAMMA Investing LLC raised its position in T. Rowe Price Group by 5.1% in the 1st quarter. GAMMA Investing LLC now owns 3,627 shares of the asset manager’s stock valued at $333,000 after purchasing an additional 176 shares during the last quarter. Handelsbanken Fonder AB raised its position in T. Rowe Price Group by 4.8% in the 1st quarter. Handelsbanken Fonder AB now owns 49,745 shares of the asset manager’s stock valued at $4,570,000 after purchasing an additional 2,297 shares during the last quarter. Finally, Integrated Advisors Network LLC bought a new position in T. Rowe Price Group in the 1st quarter valued at $271,000. Institutional investors own 73.39% of the company’s stock.

Insider Buying and Selling

In related news, Director Robert F. Maclellan sold 3,090 shares of the company’s stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $105.01, for a total value of $324,480.90. Following the completion of the sale, the director 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 can be accessed through this link. Corporate insiders own 2.00% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft lifted their price objective on T. Rowe Price Group from $109.00 to $114.00 and gave the company a “hold” rating in a research report on Thursday. Morgan Stanley lifted their price objective on T. Rowe Price Group from $116.00 to $125.00 and gave the company a “positive” rating in a research report on Monday, October 6th. Bank of America lifted their price objective on T. Rowe Price Group from $91.00 to $97.00 and gave the company an “underperform” rating in a research report on Thursday, October 2nd. Zacks Research downgraded T. Rowe Price Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 8th. Finally, The Goldman Sachs Group upped their price target on T. Rowe Price Group from $91.00 to $92.00 and gave the company a “sell” rating in a research note on Friday, October 3rd. One investment analyst has rated the stock with a Buy rating, eleven have given a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce” and an average target price of $104.69.

T. Rowe Price Group Trading Down 4.3%

NASDAQ TROW opened at $101.43 on Friday. The stock has a 50-day simple moving average of $105.82 and a 200 day simple moving average of $98.46. The company has a market capitalization of $22.29 billion, a PE ratio of 11.33, a P/E/G ratio of 6.54 and a beta of 1.50. T. Rowe Price Group, Inc. has a 12 month low of $77.85 and a 12 month high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings data on Friday, August 1st. The asset manager reported $2.24 EPS for the quarter, beating analysts’ consensus estimates of $2.15 by $0.09. The business had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.72 billion. T. Rowe Price Group had a return on equity of 19.77% and a net margin of 28.72%.The firm’s revenue was down .6% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.26 earnings per share. As a group, sell-side analysts predict that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Monday, September 15th were issued a $1.27 dividend. This represents a $5.08 dividend on an annualized basis and a yield of 5.0%. The ex-dividend date was Monday, September 15th. T. Rowe Price Group’s dividend payout ratio is currently 56.76%.

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.