Trust Co. of Vermont Sells 387 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Trust Co. of Vermont decreased its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 3.1% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 11,947 shares of the asset manager’s stock after selling 387 shares during the quarter. Trust Co. of Vermont’s holdings in T. Rowe Price Group were worth $1,301,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Lynx Investment Advisory purchased a new position in shares of T. Rowe Price Group in the 2nd quarter valued at $29,000. Hexagon Capital Partners LLC grew its stake in T. Rowe Price Group by 54.7% in the third quarter. Hexagon Capital Partners LLC now owns 294 shares of the asset manager’s stock valued at $32,000 after purchasing an additional 104 shares during the last quarter. Family Firm Inc. bought a new position in T. Rowe Price Group in the second quarter worth about $36,000. Versant Capital Management Inc lifted its position in shares of 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 valued at $38,000 after buying an additional 284 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of T. Rowe Price Group by 93.6% in the 1st quarter. EverSource Wealth Advisors LLC now owns 331 shares of the asset manager’s stock valued at $40,000 after buying an additional 160 shares in the last quarter. Hedge funds and other institutional investors own 73.39% of the company’s stock.

Wall Street Analysts Forecast Growth

TROW has been the subject of several recent analyst reports. TD Cowen reduced their price objective on shares of T. Rowe Price Group from $123.00 to $118.00 and set a “hold” rating for the company in a research note on Monday, July 29th. Deutsche Bank Aktiengesellschaft increased their price objective on T. Rowe Price Group from $112.00 to $113.00 and gave the company a “hold” rating in a report on Thursday, August 15th. The Goldman Sachs Group dropped their target price on T. Rowe Price Group from $106.00 to $102.00 and set a “sell” rating on the stock in a research note on Thursday, October 3rd. Wells Fargo & Company increased their price target on T. Rowe Price Group from $109.00 to $112.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 9th. Finally, Evercore ISI boosted their price target on T. Rowe Price Group from $108.00 to $109.00 and gave the stock an “in-line” rating in a research note on Friday, October 4th. Four equities research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. According to MarketBeat.com, T. Rowe Price Group has an average rating of “Hold” and a consensus price target of $113.00.

T. Rowe Price Group Stock Up 2.1 %

Shares of NASDAQ TROW opened at $115.63 on Friday. T. Rowe Price Group, Inc. has a 52 week low of $87.43 and a 52 week high of $122.27. The firm has a market cap of $25.82 billion, a P/E ratio of 13.73, a P/E/G ratio of 1.84 and a beta of 1.41. The business’s 50 day moving average price is $107.54 and its 200 day moving average price is $112.05.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings data on Friday, July 26th. The asset manager reported $2.26 EPS 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 business had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.79 billion. During the same period last year, the company earned $2.02 earnings per share. The firm’s revenue was up 7.6% on a year-over-year basis. As a group, research analysts expect that T. Rowe Price Group, Inc. will post 9.04 earnings per share for the current year.

T. Rowe Price Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were paid a dividend of $1.24 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 4.29%. T. Rowe Price Group’s payout ratio is currently 58.91%.

Insider Activity

In related news, insider Jessica M. Hiebler sold 484 shares of T. Rowe Price Group stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $104.73, for a total transaction of $50,689.32. Following the completion of the transaction, the insider now directly owns 13,939 shares in the company, valued at approximately $1,459,831.47. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Jessica M. Hiebler sold 484 shares of the stock in a transaction on Friday, September 13th. The shares were sold at an average price of $104.73, for a total transaction of $50,689.32. Following the sale, the insider now directly owns 13,939 shares of the company’s stock, valued at approximately $1,459,831.47. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of T. Rowe Price Group stock in a transaction on Friday, September 6th. The shares were sold at an average price of $102.83, for a total transaction of $1,230,772.27. Following the completion of the transaction, the vice president now directly owns 123,624 shares of the company’s stock, valued at $12,712,255.92. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

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.