Trust Co. of Vermont Acquires Shares of 8,071 T. Rowe Price Group, Inc. $TROW

Trust Co. of Vermont acquired a new position in T. Rowe Price Group, Inc. (NASDAQ:TROW) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 8,071 shares of the asset manager’s stock, valued at approximately $918,000.

A number of other large investors have also recently made changes to their positions in the business. TD Private Client Wealth LLC lifted its holdings in shares of T. Rowe Price Group by 91.8% in the 4th quarter. TD Private Client Wealth LLC now owns 257 shares of the asset manager’s stock valued at $26,000 after acquiring an additional 123 shares during the last quarter. DV Equities LLC bought a new stake in T. Rowe Price Group during the fourth quarter worth approximately $32,000. Motiv8 Investments LLC bought a new stake in T. Rowe Price Group during the fourth quarter worth approximately $35,000. Bank & Trust Co raised its position in T. Rowe Price Group by 52.4% during the second quarter. Bank & Trust Co now owns 314 shares of the asset manager’s stock valued at $36,000 after purchasing an additional 108 shares during the period. Finally, TD Waterhouse Canada Inc. raised its position in T. Rowe Price Group by 92.0% during the fourth quarter. TD Waterhouse Canada Inc. now owns 386 shares of the asset manager’s stock valued at $40,000 after purchasing an additional 185 shares during the period. 73.39% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $115.00 target price (down from $120.00) on shares of T. Rowe Price Group in a report on Monday, August 3rd. Evercore set a $118.00 price target on T. Rowe Price Group in a report on Monday, August 10th. Barclays lowered their price target on T. Rowe Price Group from $108.00 to $103.00 and set an “underweight” rating for the company in a research report on Monday, August 3rd. JPMorgan Chase & Co. dropped their price objective 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. Finally, BMO Capital Markets boosted their price objective on shares of T. Rowe Price Group from $110.00 to $120.00 and gave the company a “market perform” rating in a research report on Monday, August 3rd. Ten analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus price target of $105.67.

T. Rowe Price Group Price Performance

Shares of NASDAQ:TROW opened at $110.32 on Wednesday. T. Rowe Price Group, Inc. has a 1 year low of $85.22 and a 1 year high of $122.00. The business has a 50 day simple moving average of $113.71 and a two-hundred day simple moving average of $102.71. The firm has a market capitalization of $23.53 billion, a PE ratio of 11.07, a price-to-earnings-growth ratio of 4.30 and a beta of 1.47.

T. Rowe Price Group (NASDAQ:TROW) last released its earnings results on Friday, July 31st. The asset manager reported $2.57 EPS for the quarter, beating 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 firm had revenue of $1.91 billion for the quarter, compared to analysts’ expectations of $1.89 billion. During the same quarter in the prior year, the firm posted $2.24 earnings per share. The company’s quarterly revenue was up 10.7% on a year-over-year basis. Equities research analysts expect that T. Rowe Price Group, Inc. will post 10.13 EPS for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 15th will be given a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 4.7%. The ex-dividend date of this dividend is Tuesday, September 15th. T. Rowe Price Group’s dividend payout ratio is 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.