T. Rowe Price Group, Inc. (NASDAQ:TROW) Stake Reduced by Vanguard Group Inc.

Vanguard Group Inc. cut its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 0.7% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 25,934,448 shares of the asset manager’s stock after selling 183,497 shares during the period. Vanguard Group Inc. owned 0.12% of T. Rowe Price Group worth $3,161,928,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Fisher Asset Management LLC increased its holdings in shares of T. Rowe Price Group by 6.7% in the 4th quarter. Fisher Asset Management LLC now owns 1,752,005 shares of the asset manager’s stock worth $188,674,000 after acquiring an additional 109,653 shares during the period. Dimensional Fund Advisors LP grew its position in T. Rowe Price Group by 21.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,352,683 shares of the asset manager’s stock worth $145,685,000 after purchasing an additional 236,697 shares during the last quarter. First Trust Advisors LP grew its position in T. Rowe Price Group by 1.3% in the 4th quarter. First Trust Advisors LP now owns 1,173,858 shares of the asset manager’s stock worth $126,413,000 after purchasing an additional 15,504 shares during the last quarter. Confluence Investment Management LLC acquired a new stake in shares of T. Rowe Price Group in the first quarter valued at approximately $130,386,000. Finally, UBS Group AG raised its holdings in shares of T. Rowe Price Group by 473.3% during the fourth quarter. UBS Group AG now owns 975,226 shares of the asset manager’s stock valued at $105,022,000 after buying an additional 805,106 shares during the last quarter. 73.39% of the stock is currently owned by institutional investors.

Insider Buying and Selling at T. Rowe Price Group

In other news, insider Jessica M. Hiebler sold 1,401 shares of the stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $115.85, for a total transaction of $162,305.85. Following the completion of the sale, the insider now owns 14,198 shares in the company, valued at approximately $1,644,838.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, VP Dorothy C. Sawyer sold 2,000 shares of T. Rowe Price Group stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $117.00, for a total value of $234,000.00. Following the transaction, the vice president now directly owns 34,710 shares of the company’s stock, valued at $4,061,070. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Jessica M. Hiebler sold 1,401 shares of the business’s stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $115.85, for a total transaction of $162,305.85. Following the sale, the insider now owns 14,198 shares in the company, valued at approximately $1,644,838.30. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 6,444 shares of company stock valued at $740,408. Corporate insiders own 2.00% of the company’s stock.

T. Rowe Price Group Trading Down 1.6 %

NASDAQ:TROW traded down $1.87 during mid-day trading on Friday, reaching $114.79. 820,770 shares of the stock were exchanged, compared to its average volume of 887,961. The business has a fifty day moving average price of $116.47 and a 200 day moving average price of $113.79. T. Rowe Price Group, Inc. has a 1-year low of $87.43 and a 1-year high of $132.76. The firm has a market capitalization of $25.63 billion, a PE ratio of 13.63, a PEG ratio of 1.67 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, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $1.71 billion. During the same quarter last year, the firm posted $1.69 EPS. The business’s revenue for the quarter was up 13.8% on a year-over-year basis. On average, sell-side analysts forecast that T. Rowe Price Group, Inc. will post 8.96 earnings per share for the current year.

T. Rowe Price Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 27th. Shareholders of record on Friday, June 14th were given a $1.24 dividend. The ex-dividend date of this dividend was Friday, June 14th. This represents a $4.96 annualized dividend and a yield of 4.32%. T. Rowe Price Group’s dividend payout ratio (DPR) is 58.91%.

Analyst Ratings Changes

A number of brokerages recently issued reports on TROW. Evercore ISI decreased their price objective on T. Rowe Price Group from $110.00 to $107.00 and set an “in-line” rating for the company in a report on Tuesday, April 30th. Keefe, Bruyette & Woods increased their price target on T. Rowe Price Group from $120.00 to $121.00 and gave the stock a “market perform” rating in a research note on Friday, July 12th. JPMorgan Chase & Co. raised their price target on T. Rowe Price Group from $94.00 to $103.00 and gave the company an “underweight” rating in a report on Tuesday, April 16th. TD Cowen upped their price objective on shares of T. Rowe Price Group from $121.00 to $123.00 and gave the stock a “hold” rating in a report on Monday, July 8th. Finally, Citigroup increased their target price on shares of T. Rowe Price Group from $110.00 to $125.00 and gave the company a “neutral” rating in a research report on Friday, April 5th. Four research analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, T. Rowe Price Group currently has an average rating of “Hold” and an average price target 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.