Trust Co. of Virginia VA Grows Holdings in T. Rowe Price Group Inc (TROW)

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Trust Co. of Virginia VA grew its position in shares of T. Rowe Price Group Inc (NASDAQ:TROW) by 0.2% during the first quarter, HoldingsChannel reports. The firm owned 96,362 shares of the asset manager’s stock after acquiring an additional 190 shares during the quarter. Trust Co. of Virginia VA’s holdings in T. Rowe Price Group were worth $9,648,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in TROW. Northwest Investment Counselors LLC increased its holdings in T. Rowe Price Group by 0.7% in the first quarter. Northwest Investment Counselors LLC now owns 13,426 shares of the asset manager’s stock valued at $1,344,000 after buying an additional 96 shares during the last quarter. Curbstone Financial Management Corp increased its holdings in T. Rowe Price Group by 1.3% in the first quarter. Curbstone Financial Management Corp now owns 7,590 shares of the asset manager’s stock valued at $760,000 after buying an additional 100 shares during the last quarter. Unison Advisors LLC increased its holdings in T. Rowe Price Group by 0.8% in the first quarter. Unison Advisors LLC now owns 13,484 shares of the asset manager’s stock valued at $1,350,000 after buying an additional 101 shares during the last quarter. Mid Atlantic Financial Management Inc. ADV increased its holdings in T. Rowe Price Group by 1.4% in the first quarter. Mid Atlantic Financial Management Inc. ADV now owns 7,352 shares of the asset manager’s stock valued at $736,000 after buying an additional 103 shares during the last quarter. Finally, ETF Managers Group LLC increased its holdings in T. Rowe Price Group by 8.6% in the first quarter. ETF Managers Group LLC now owns 1,344 shares of the asset manager’s stock valued at $135,000 after buying an additional 107 shares during the last quarter. Institutional investors own 71.32% of the company’s stock.

In other news, VP W. Sharps Robert sold 2,617 shares of the stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $100.73, for a total transaction of $263,610.41. Following the completion of the sale, the vice president now owns 448,651 shares in the company, valued at $45,192,615.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Christopher D. Alderson sold 104,465 shares of the stock in a transaction dated Wednesday, February 20th. The stock was sold at an average price of $96.94, for a total transaction of $10,126,837.10. Following the sale, the vice president now owns 401,164 shares of the company’s stock, valued at approximately $38,888,838.16. The disclosure for this sale can be found here. Insiders sold 172,200 shares of company stock valued at $17,416,177 in the last 90 days. 3.10% of the stock is currently owned by insiders.

Several equities analysts recently commented on the company. BidaskClub raised T. Rowe Price Group from a “sell” rating to a “hold” rating in a report on Tuesday. Zacks Investment Research raised T. Rowe Price Group from a “hold” rating to a “buy” rating and set a $116.00 target price on the stock in a report on Wednesday, April 3rd. Bank of America set a $112.00 target price on T. Rowe Price Group and gave the company a “buy” rating in a report on Tuesday, April 9th. Jefferies Financial Group increased their target price on T. Rowe Price Group from $103.00 to $119.00 and gave the company a “buy” rating in a report on Monday, April 1st. Finally, Gabelli reissued a “buy” rating on shares of T. Rowe Price Group in a report on Thursday, April 25th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $106.75.

NASDAQ TROW traded up $1.19 during trading hours on Tuesday, hitting $105.32. The company had a trading volume of 13,234 shares, compared to its average volume of 1,320,949. T. Rowe Price Group Inc has a 1-year low of $84.59 and a 1-year high of $127.43. The company has a market capitalization of $24.68 billion, a PE ratio of 14.72, a P/E/G ratio of 1.54 and a beta of 1.06.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings data on Wednesday, April 24th. The asset manager reported $1.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.61 by $0.26. T. Rowe Price Group had a net margin of 35.05% and a return on equity of 28.93%. The company had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.29 billion. During the same quarter in the prior year, the firm posted $1.74 earnings per share. T. Rowe Price Group’s revenue for the quarter was down 2.1% on a year-over-year basis. As a group, sell-side analysts anticipate that T. Rowe Price Group Inc will post 7.52 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be paid a $0.76 dividend. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $3.04 annualized dividend and a yield of 2.89%. T. Rowe Price Group’s dividend payout ratio is presently 42.52%.

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T. Rowe Price Group Profile

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.

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Institutional Ownership by Quarter for T. Rowe Price Group (NASDAQ:TROW)

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