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

Steigerwald Gordon & Koch Inc. decreased its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 59.0% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 29,017 shares of the asset manager’s stock after selling 41,698 shares during the period. Steigerwald Gordon & Koch Inc.’s holdings in T. Rowe Price Group were worth $3,299,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. TD Private Client Wealth LLC grew its stake in shares of T. Rowe Price Group by 91.8% during the 4th quarter. TD Private Client Wealth LLC now owns 257 shares of the asset manager’s stock valued at $26,000 after buying an additional 123 shares during the period. DV Equities LLC acquired a new stake in shares of T. Rowe Price Group during the 4th quarter worth $32,000. Motiv8 Investments LLC purchased a new position in shares of T. Rowe Price Group in the 4th quarter worth $35,000. Bank & Trust Co raised its position in shares of T. Rowe Price Group by 52.4% in the 2nd quarter. Bank & Trust Co now owns 314 shares of the asset manager’s stock worth $36,000 after buying an additional 108 shares during the period. Finally, TD Waterhouse Canada Inc. boosted its holdings in T. Rowe Price Group by 92.0% in the fourth quarter. TD Waterhouse Canada Inc. now owns 386 shares of the asset manager’s stock valued at $40,000 after acquiring an additional 185 shares during the last quarter. Hedge funds and other institutional investors own 73.39% of the company’s stock.

T. Rowe Price Group Trading Down 0.1%

Shares of NASDAQ TROW opened at $111.30 on Friday. The stock has a fifty day moving average price of $113.43 and a 200 day moving average price of $102.60. T. Rowe Price Group, Inc. has a 12-month low of $85.22 and a 12-month high of $122.00. The company has a market cap of $23.74 billion, a P/E ratio of 11.16, a P/E/G ratio of 4.34 and a beta of 1.47.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings data on Friday, July 31st. The asset manager reported $2.57 EPS for the quarter, topping analysts’ consensus estimates of $2.52 by $0.05. T. Rowe Price Group had a return on equity of 20.91% and a net margin of 29.26%.The company had revenue of $1.91 billion for the quarter, compared to analysts’ expectations of $1.89 billion. During the same quarter in the previous year, the firm posted $2.24 earnings per share. The firm’s quarterly revenue was up 10.7% on a year-over-year basis. On average, sell-side analysts forecast that T. Rowe Price Group, Inc. will post 10.13 EPS for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The business also recently declared 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. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $5.20 annualized dividend and a yield of 4.7%. T. Rowe Price Group’s payout ratio is 52.16%.

Wall Street Analyst Weigh In

TROW has been the subject of several research analyst reports. Zacks Research upgraded T. Rowe Price Group from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 15th. 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 research note on Tuesday, June 30th. Morgan Stanley set a $116.00 target price on T. Rowe Price Group in a report on Wednesday, July 29th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $109.00 price target on shares of T. Rowe Price Group in a report on Monday, August 3rd. Finally, Weiss Ratings raised shares of T. Rowe Price Group from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, July 2nd. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Reduce” and an average target price 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.