Banque Cantonale Vaudoise Sells 9,099 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Banque Cantonale Vaudoise trimmed its position in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 45.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,878 shares of the asset manager's stock after selling 9,099 shares during the period. Banque Cantonale Vaudoise's holdings in T. Rowe Price Group were worth $1,255,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of TROW. Lynx Investment Advisory bought a new position in T. Rowe Price Group in the second quarter valued at $29,000. First United Bank & Trust bought a new position in shares of T. Rowe Price Group in the 4th quarter valued at about $31,000. Family Firm Inc. acquired a new stake in shares of T. Rowe Price Group in the second quarter valued at about $36,000. Versant Capital Management Inc raised its holdings in T. Rowe Price Group by 660.5% during the second quarter. Versant Capital Management Inc now owns 327 shares of the asset manager's stock worth $38,000 after acquiring an additional 284 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its position in T. Rowe Price Group by 93.6% during the first quarter. EverSource Wealth Advisors LLC now owns 331 shares of the asset manager's stock valued at $40,000 after purchasing an additional 160 shares during the last quarter. 73.39% of the stock is owned by institutional investors and hedge funds.

T. Rowe Price Group Stock Up 1.0 %

Shares of NASDAQ TROW traded up $1.08 during mid-day trading on Friday, reaching $106.04. 1,832,001 shares of the company were exchanged, compared to its average volume of 1,028,377. The stock has a market capitalization of $23.60 billion, a P/E ratio of 12.59, a P/E/G ratio of 1.69 and a beta of 1.42. The company's 50-day simple moving average is $111.93 and its 200-day simple moving average is $113.87. T. Rowe Price Group, Inc. has a twelve month low of $87.43 and a twelve month high of $122.27.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last released its quarterly earnings results on Friday, July 26th. The asset manager reported $2.26 earnings per share for the quarter, missing the consensus estimate of $2.27 by ($0.01). T. Rowe Price Group had a net margin of 28.66% and a return on equity of 19.90%. The company had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.79 billion. During the same period in the prior year, the company earned $2.02 earnings per share. The firm's revenue was up 7.6% compared to the same quarter last year. As a group, equities research analysts expect that T. Rowe Price Group, Inc. will post 9 EPS for the current year.

T. Rowe Price Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be paid a $1.24 dividend. The ex-dividend date is Friday, September 13th. This represents a $4.96 annualized dividend and a yield of 4.68%. T. Rowe Price Group's dividend payout ratio (DPR) is presently 58.91%.

Insider Buying and Selling at T. Rowe Price Group

In related news, insider Jessica M. Hiebler sold 1,401 shares of the company's stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $115.85, for a total value of $162,305.85. Following the transaction, the insider now directly owns 14,198 shares in the company, valued at $1,644,838.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other T. Rowe Price Group news, VP Dorothy C. Sawyer sold 2,000 shares of the firm's stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $117.00, for a total transaction of $234,000.00. Following the transaction, the vice president now owns 34,710 shares in the company, valued at approximately $4,061,070. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Jessica M. Hiebler sold 1,401 shares of the company's stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $115.85, for a total value of $162,305.85. Following the sale, the insider now owns 14,198 shares of the company's stock, valued at $1,644,838.30. The disclosure for this sale can be found here. Insiders own 2.00% of the company's stock.

Analysts Set New Price Targets

Several research analysts have weighed in on TROW shares. Keefe, Bruyette & Woods reaffirmed a "market perform" rating and set a $120.00 price target (down previously from $121.00) on shares of T. Rowe Price Group in a research report on Monday, July 29th. Barclays started coverage on shares of T. Rowe Price Group in a report on Tuesday, August 27th. They set an "underweight" rating and a $99.00 target price on the stock. JPMorgan Chase & Co. increased their price target on shares of T. Rowe Price Group from $102.00 to $107.00 and gave the company an "underweight" rating in a research note on Tuesday, July 23rd. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the company a "hold" rating in a research report on Thursday, August 15th. Finally, TD Cowen dropped their target price on shares of T. Rowe Price Group from $123.00 to $118.00 and set a "hold" rating on the stock in a report on Monday, July 29th. Four investment analysts have rated the stock with a sell rating and seven have assigned a hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $113.10.

T. Rowe Price Group Company 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.