Erste Asset Management GmbH Has $6.74 Million Holdings in T. Rowe Price Group, Inc. $TROW

Erste Asset Management GmbH lessened its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 8.0% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 65,100 shares of the asset manager’s stock after selling 5,638 shares during the period. Erste Asset Management GmbH’s holdings in T. Rowe Price Group were worth $6,739,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. TD Waterhouse Canada Inc. raised its position in shares of T. Rowe Price Group by 66.7% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 250 shares of the asset manager’s stock worth $25,000 after acquiring an additional 100 shares in the last quarter. Root Financial Partners LLC acquired a new stake in T. Rowe Price Group during the third quarter worth approximately $30,000. Vermillion & White Wealth Management Group LLC grew its stake in T. Rowe Price Group by 120.0% during the second quarter. Vermillion & White Wealth Management Group LLC now owns 319 shares of the asset manager’s stock worth $31,000 after purchasing an additional 174 shares during the period. Salomon & Ludwin LLC increased its holdings in T. Rowe Price Group by 84.3% in the third quarter. Salomon & Ludwin LLC now owns 317 shares of the asset manager’s stock worth $33,000 after purchasing an additional 145 shares in the last quarter. Finally, Atlantic Union Bankshares Corp acquired a new position in T. Rowe Price Group in the second quarter valued at approximately $35,000. Institutional investors own 73.39% of the company’s stock.

T. Rowe Price Group Stock Down 1.9%

TROW stock opened at $94.63 on Friday. The firm has a market capitalization of $20.64 billion, a PE ratio of 10.23, a P/E/G ratio of 4.98 and a beta of 1.53. T. Rowe Price Group, Inc. has a twelve month low of $77.85 and a twelve month high of $118.22. The stock’s 50 day moving average is $101.51 and its 200-day moving average is $103.35.

T. Rowe Price Group (NASDAQ:TROW) last posted its earnings results on Wednesday, February 4th. The asset manager reported $2.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.47 by ($0.03). The firm had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $1.92 billion. T. Rowe Price Group had a return on equity of 20.29% and a net margin of 28.53%.The business’s revenue was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.12 EPS. On average, equities research analysts anticipate that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current fiscal year.

T. Rowe Price Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 30th. Shareholders of record on Monday, March 16th will be given a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 5.5%. The ex-dividend date of this dividend is Monday, March 16th. This is a positive change from T. Rowe Price Group’s previous quarterly dividend of $1.27. T. Rowe Price Group’s payout ratio is currently 54.92%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on TROW. JPMorgan Chase & Co. reduced their price objective on shares of T. Rowe Price Group from $108.00 to $106.00 and set an “underweight” rating for the company in a research report on Thursday, February 5th. Weiss Ratings reiterated a “hold (c+)” rating on shares of T. Rowe Price Group in a research report on Monday, December 29th. BMO Capital Markets reduced their price target on shares of T. Rowe Price Group from $110.00 to $104.00 and set a “market perform” rating for the company in a report on Thursday, February 12th. Bank of America upped their price objective on shares of T. Rowe Price Group from $85.00 to $86.00 in a report on Wednesday, January 14th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on T. Rowe Price Group from $106.00 to $100.00 and set a “hold” rating for the company in a research note on Thursday, February 5th. Twelve analysts have rated the stock with a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus target price of $102.23.

Insider Buying and Selling

In other T. Rowe Price Group news, VP Arif Husain sold 4,260 shares of T. Rowe Price Group stock in a transaction that occurred on Wednesday, December 10th. The shares were sold at an average price of $101.96, for a total transaction of $434,349.60. Following the transaction, the vice president owned 47,102 shares of the company’s stock, valued at $4,802,519.92. This trade represents a 8.29% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 2.00% of the company’s stock.

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.