Korea Investment CORP Sells 29,558 Shares of T. Rowe Price Group, Inc. $TROW

Korea Investment CORP decreased its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 29.2% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 71,638 shares of the asset manager’s stock after selling 29,558 shares during the period. Korea Investment CORP’s holdings in T. Rowe Price Group were worth $6,581,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Northern Trust Corp increased its stake in shares of T. Rowe Price Group by 3.6% in the 1st quarter. Northern Trust Corp now owns 2,374,063 shares of the asset manager’s stock valued at $218,105,000 after purchasing an additional 83,324 shares during the last quarter. Brooklyn Investment Group increased its stake in shares of T. Rowe Price Group by 32.4% in the 1st quarter. Brooklyn Investment Group now owns 658 shares of the asset manager’s stock valued at $60,000 after purchasing an additional 161 shares during the last quarter. Versor Investments LP bought a new position in shares of T. Rowe Price Group in the 1st quarter valued at $899,000. Freestone Capital Holdings LLC increased its stake in shares of T. Rowe Price Group by 1.5% in the 1st quarter. Freestone Capital Holdings LLC now owns 22,203 shares of the asset manager’s stock valued at $2,040,000 after purchasing an additional 338 shares during the last quarter. Finally, Affinity Investment Advisors LLC increased its stake in shares of T. Rowe Price Group by 19.3% in the 1st quarter. Affinity Investment Advisors LLC now owns 4,134 shares of the asset manager’s stock valued at $380,000 after purchasing an additional 668 shares during the last quarter. Institutional investors own 73.39% of the company’s stock.

Insider Buying and Selling

In other T. Rowe Price Group news, VP Dorothy C. Sawyer sold 2,000 shares of T. Rowe Price Group stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $95.43, for a total transaction of $190,860.00. Following the transaction, the vice president directly owned 44,789 shares of the company’s stock, valued at approximately $4,274,214.27. The trade was a 4.27% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on TROW. Keefe, Bruyette & Woods lifted their price target on T. Rowe Price Group from $110.00 to $112.00 and gave the company a “market perform” rating in a research note on Monday, August 4th. Barclays reissued an “underweight” rating and set a $95.00 price objective (up previously from $91.00) on shares of T. Rowe Price Group in a report on Monday, August 4th. Cowen reissued a “hold” rating on shares of T. Rowe Price Group in a report on Monday, May 5th. JPMorgan Chase & Co. raised their price objective on T. Rowe Price Group from $98.00 to $102.00 and gave the company an “underweight” rating in a report on Monday, August 4th. Finally, Morgan Stanley raised their price objective on T. Rowe Price Group from $112.00 to $116.00 and gave the company an “equal weight” rating in a report on Monday, August 4th. Eight investment analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Reduce” and a consensus price target of $101.09.

T. Rowe Price Group Trading Up 3.6%

Shares of TROW opened at $108.29 on Friday. The company has a market capitalization of $23.79 billion, a PE ratio of 12.10, a PEG ratio of 2.74 and a beta of 1.47. T. Rowe Price Group, Inc. has a 12 month low of $77.85 and a 12 month high of $125.81. The stock’s 50-day moving average price is $102.12 and its two-hundred day moving average price is $97.60.

T. Rowe Price Group (NASDAQ:TROW) last announced its earnings results on Friday, August 1st. The asset manager reported $2.24 EPS for the quarter, topping the consensus estimate of $2.15 by $0.09. The firm had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.72 billion. T. Rowe Price Group had a return on equity of 19.77% and a net margin of 28.72%.The business’s quarterly revenue was down .6% compared to the same quarter last year. During the same period in the previous year, the business earned $2.26 EPS. Equities research analysts predict that T. Rowe Price Group, Inc. will post 9.29 EPS for the current fiscal year.

T. Rowe Price Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Monday, September 15th will be issued a dividend of $1.27 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $5.08 annualized dividend and a yield of 4.7%. T. Rowe Price Group’s payout ratio is presently 56.76%.

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.