Chevy Chase Trust Holdings LLC Has $15.93 Million Stock Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Chevy Chase Trust Holdings LLC lowered its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 1.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 130,682 shares of the asset manager’s stock after selling 2,555 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in T. Rowe Price Group were worth $15,933,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of TROW. BI Asset Management Fondsmaeglerselskab A S boosted its stake in T. Rowe Price Group by 8.7% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 120,760 shares of the asset manager’s stock valued at $14,723,000 after buying an additional 9,708 shares during the period. Mutual Advisors LLC increased its holdings in shares of T. Rowe Price Group by 11.7% in the first quarter. Mutual Advisors LLC now owns 38,083 shares of the asset manager’s stock worth $4,643,000 after buying an additional 3,993 shares during the period. Daiwa Securities Group Inc. increased its holdings in shares of T. Rowe Price Group by 9.3% in the first quarter. Daiwa Securities Group Inc. now owns 22,023 shares of the asset manager’s stock worth $2,685,000 after buying an additional 1,880 shares during the period. Horan Securities Inc. purchased a new position in T. Rowe Price Group during the 1st quarter valued at about $211,000. Finally, Fidelis Capital Partners LLC purchased a new position in T. Rowe Price Group during the 1st quarter valued at about $121,000. 73.39% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

TROW has been the topic of several research reports. UBS Group lifted their price objective on T. Rowe Price Group from $100.00 to $109.00 and gave the company a “sell” rating in a research report on Friday, April 12th. Evercore ISI lowered their price objective on T. Rowe Price Group from $110.00 to $107.00 and set an “in-line” rating on the stock in a research report on Tuesday, April 30th. TD Cowen boosted their target price on shares of T. Rowe Price Group from $121.00 to $123.00 and gave the company a “hold” rating in a research note on Monday. StockNews.com upgraded T. Rowe Price Group from a “hold” rating to a “buy” rating in a research note on Wednesday. Finally, Citigroup increased their price target on T. Rowe Price Group from $110.00 to $125.00 and gave the stock a “neutral” rating in a research note on Friday, April 5th. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $113.00.

Insider Activity at T. Rowe Price Group

In other T. Rowe Price Group news, Director Robert F. Maclellan sold 3,043 shares of T. Rowe Price Group stock in a transaction on Monday, April 29th. The shares were sold at an average price of $113.08, for a total value of $344,102.44. Following the transaction, the director now directly owns 34,635 shares of the company’s stock, valued at $3,916,525.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Robert F. Maclellan sold 3,043 shares of the business’s stock in a transaction on Monday, April 29th. The shares were sold at an average price of $113.08, for a total transaction of $344,102.44. Following the sale, the director now directly owns 34,635 shares of the company’s stock, valued at $3,916,525.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Dorothy C. Sawyer sold 2,000 shares of the business’s stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $117.00, for a total transaction of $234,000.00. Following the sale, the vice president now directly owns 34,710 shares in the company, valued at $4,061,070. The disclosure for this sale can be found here. Insiders have sold a total of 6,444 shares of company stock valued at $740,408 over the last ninety days. 2.00% of the stock is owned by company insiders.

T. Rowe Price Group Stock Performance

Shares of TROW traded up $2.45 during midday trading on Thursday, hitting $118.53. 54,736 shares of the company traded hands, compared to its average volume of 1,307,706. T. Rowe Price Group, Inc. has a 52 week low of $87.43 and a 52 week high of $132.76. The firm has a 50 day moving average of $115.59 and a 200-day moving average of $113.32. The stock has a market cap of $26.47 billion, a price-to-earnings ratio of 13.79, a PEG ratio of 1.96 and a beta of 1.42.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings data on Friday, April 26th. The asset manager reported $2.38 earnings per share for the quarter, topping analysts’ consensus estimates of $2.04 by $0.34. T. Rowe Price Group had a net margin of 29.09% and a return on equity of 19.70%. The company had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.71 billion. During the same period in the prior year, the company posted $1.69 EPS. The firm’s revenue for the quarter was up 13.8% on a year-over-year basis. Sell-side analysts predict that T. Rowe Price Group, Inc. will post 8.84 earnings per share for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 27th. Stockholders of record on Friday, June 14th were given a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a dividend yield of 4.18%. The ex-dividend date was Friday, June 14th. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 58.91%.

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.