T. Rowe Price Group Inc (NASDAQ:TROW) Stock Position Increased by Summit Global Investments

Summit Global Investments boosted its position in T. Rowe Price Group Inc (NASDAQ:TROW) by 351.5% during the 2nd quarter, HoldingsChannel reports. The firm owned 39,185 shares of the asset manager’s stock after buying an additional 30,506 shares during the quarter. Summit Global Investments’ holdings in T. Rowe Price Group were worth $4,299,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently modified their holdings of TROW. Nuveen Asset Management LLC lifted its position in T. Rowe Price Group by 1,043.1% in the 2nd quarter. Nuveen Asset Management LLC now owns 1,209,275 shares of the asset manager’s stock valued at $132,671,000 after purchasing an additional 1,103,487 shares during the last quarter. BlackRock Inc. raised its position in shares of T. Rowe Price Group by 3.6% during the 2nd quarter. BlackRock Inc. now owns 17,802,701 shares of the asset manager’s stock worth $1,953,135,000 after buying an additional 626,119 shares in the last quarter. Skandinaviska Enskilda Banken AB publ raised its position in shares of T. Rowe Price Group by 490.6% during the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 270,680 shares of the asset manager’s stock worth $29,696,000 after buying an additional 224,845 shares in the last quarter. Marshall Wace North America L.P. raised its position in shares of T. Rowe Price Group by 724.6% during the 2nd quarter. Marshall Wace North America L.P. now owns 253,908 shares of the asset manager’s stock worth $27,857,000 after buying an additional 223,115 shares in the last quarter. Finally, Adams Diversified Equity Fund Inc. bought a new stake in shares of T. Rowe Price Group during the 2nd quarter worth about $18,365,000. Hedge funds and other institutional investors own 68.67% of the company’s stock.

TROW has been the topic of a number of recent analyst reports. Citigroup boosted their price target on shares of T. Rowe Price Group from $113.00 to $115.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 9th. Morgan Stanley boosted their price target on shares of T. Rowe Price Group from $117.00 to $122.00 and gave the stock an “equal weight” rating in a research report on Friday, July 26th. UBS Group boosted their price target on shares of T. Rowe Price Group from $109.00 to $111.00 and gave the stock a “neutral” rating in a research report on Monday, July 8th. Deutsche Bank dropped their price target on shares of T. Rowe Price Group from $115.00 to $112.00 and set a “hold” rating on the stock in a research report on Friday, August 9th. Finally, BidaskClub downgraded shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Saturday. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the stock. T. Rowe Price Group presently has a consensus rating of “Hold” and an average price target of $110.92.



Shares of TROW stock traded up $0.05 during midday trading on Wednesday, reaching $114.32. 1,055,152 shares of the company were exchanged, compared to its average volume of 1,198,331. T. Rowe Price Group Inc has a 12 month low of $84.59 and a 12 month high of $120.99. The company has a market cap of $26.92 billion, a P/E ratio of 15.99, a PEG ratio of 1.73 and a beta of 1.05. The company’s 50 day moving average price is $111.29 and its two-hundred day moving average price is $107.10. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.91 and a current ratio of 3.91.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings data on Wednesday, July 24th. The asset manager reported $2.03 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.88 by $0.15. The company had revenue of $1.40 billion for the quarter, compared to analysts’ expectations of $1.39 billion. T. Rowe Price Group had a net margin of 36.17% and a return on equity of 28.80%. The business’s revenue was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.87 EPS. As a group, sell-side analysts predict that T. Rowe Price Group Inc will post 7.78 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be paid a $0.76 dividend. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $3.04 annualized dividend and a dividend yield of 2.66%. T. Rowe Price Group’s dividend payout ratio is currently 42.52%.

In other news, VP Robert C.T. Higginbotham sold 19,393 shares of T. Rowe Price Group stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $115.17, for a total value of $2,233,491.81. Following the transaction, the vice president now owns 68,864 shares of the company’s stock, valued at approximately $7,931,066.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Christopher D. Alderson sold 36,898 shares of T. Rowe Price Group stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $114.41, for a total transaction of $4,221,500.18. Following the completion of the transaction, the vice president now directly owns 414,144 shares in the company, valued at approximately $47,382,215.04. The disclosure for this sale can be found here. Insiders sold a total of 79,773 shares of company stock worth $9,187,023 in the last ninety days. Corporate insiders own 3.10% 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.

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

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