Steigerwald Gordon & Koch Inc. Reduces Holdings in T. Rowe Price Group, Inc. $TROW

Steigerwald Gordon & Koch Inc. lowered its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 59.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 29,017 shares of the asset manager’s stock after selling 41,698 shares during the period. Steigerwald Gordon & Koch Inc.’s holdings in T. Rowe Price Group were worth $3,299,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Woodline Partners LP increased its stake in shares of T. Rowe Price Group by 41.0% during the 1st quarter. Woodline Partners LP now owns 18,809 shares of the asset manager’s stock worth $1,728,000 after purchasing an additional 5,467 shares in the last quarter. Focus Partners Wealth lifted its stake in T. Rowe Price Group by 10.6% in the 1st quarter. Focus Partners Wealth now owns 13,054 shares of the asset manager’s stock valued at $1,199,000 after buying an additional 1,250 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in T. Rowe Price Group by 44.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,546 shares of the asset manager’s stock valued at $149,000 after buying an additional 478 shares in the last quarter. Jump Financial LLC acquired a new stake in T. Rowe Price Group during the 2nd quarter valued at $931,000. Finally, Daiwa Securities Group Inc. grew its holdings in T. Rowe Price Group by 5.4% during the 2nd quarter. Daiwa Securities Group Inc. now owns 33,245 shares of the asset manager’s stock valued at $3,208,000 after buying an additional 1,703 shares during the last quarter. Hedge funds and other institutional investors own 73.39% of the company’s stock.

T. Rowe Price Group Stock Performance

Shares of TROW opened at $111.30 on Friday. T. Rowe Price Group, Inc. has a fifty-two week low of $85.22 and a fifty-two week high of $122.00. The company has a market capitalization of $23.74 billion, a PE ratio of 11.16, a price-to-earnings-growth ratio of 4.34 and a beta of 1.47. The stock has a fifty day moving average of $113.43 and a two-hundred day moving average of $102.60.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings data on Friday, July 31st. The asset manager reported $2.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.52 by $0.05. The business had revenue of $1.91 billion for the quarter, compared to analysts’ expectations of $1.89 billion. T. Rowe Price Group had a return on equity of 20.91% and a net margin of 29.26%.The business’s revenue was up 10.7% on a year-over-year basis. During the same quarter last year, the firm earned $2.24 earnings per share. As a group, equities research analysts forecast that T. Rowe Price Group, Inc. will post 10.13 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 15th will be paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis 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 (DPR) is presently 52.16%.

Analyst Ratings Changes

TROW has been the subject of a number of analyst reports. JPMorgan Chase & Co. cut their price target on T. Rowe Price Group from $106.00 to $103.00 and set an “underweight” rating for the company in a report on Friday, April 24th. Morgan Stanley set a $116.00 price objective on T. Rowe Price Group in a research note on Wednesday, July 29th. Weiss Ratings upgraded T. Rowe Price Group from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, July 2nd. Zacks Research raised shares of T. Rowe Price Group from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 15th. Finally, Evercore set a $118.00 target price on shares of T. Rowe Price Group in a report on Monday. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average price target of $105.67.

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.