T. Rowe Price Group, Inc. $TROW Stock Holdings Boosted by Shell Asset Management Co.

Shell Asset Management Co. lifted its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 18.9% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 22,701 shares of the asset manager’s stock after acquiring an additional 3,603 shares during the period. Shell Asset Management Co.’s holdings in T. Rowe Price Group were worth $2,191,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. Exchange Traded Concepts LLC lifted its holdings in T. Rowe Price Group by 27.9% in the first quarter. Exchange Traded Concepts LLC now owns 971 shares of the asset manager’s stock worth $89,000 after purchasing an additional 212 shares during the period. Wealthfront Advisers LLC lifted its holdings in T. Rowe Price Group by 109.2% in the first quarter. Wealthfront Advisers LLC now owns 69,326 shares of the asset manager’s stock worth $6,369,000 after purchasing an additional 36,190 shares during the period. Mather Group LLC. lifted its holdings in T. Rowe Price Group by 11.9% in the first quarter. Mather Group LLC. now owns 135,571 shares of the asset manager’s stock worth $12,455,000 after purchasing an additional 14,371 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings in T. Rowe Price Group by 12.8% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 213,769 shares of the asset manager’s stock worth $19,575,000 after purchasing an additional 24,323 shares during the period. Finally, Alps Advisors Inc. lifted its holdings in T. Rowe Price Group by 22.9% in the first quarter. Alps Advisors Inc. now owns 308,837 shares of the asset manager’s stock worth $28,373,000 after purchasing an additional 57,503 shares during the period. Institutional investors own 73.39% of the company’s stock.

T. Rowe Price Group Trading Up 0.0%

Shares of T. Rowe Price Group stock opened at $105.82 on Thursday. The company’s 50-day moving average price is $105.76 and its two-hundred day moving average price is $98.32. T. Rowe Price Group, Inc. has a 52 week low of $77.85 and a 52 week high of $125.81. The stock has a market cap of $23.25 billion, a PE ratio of 11.82, a price-to-earnings-growth ratio of 6.82 and a beta of 1.50.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly 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 analysts’ expectations of $1.72 billion. T. Rowe Price Group had a net margin of 28.72% and a return on equity of 19.77%. T. Rowe Price Group’s revenue for the quarter was down .6% compared to the same quarter last year. During the same period in the previous year, the business earned $2.26 earnings per share. On average, equities 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 disclosed a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Monday, September 15th were issued a dividend of $1.27 per share. This represents a $5.08 annualized dividend and a yield of 4.8%. The ex-dividend date was Monday, September 15th. T. Rowe Price Group’s payout ratio is presently 56.76%.

Analyst Upgrades and Downgrades

TROW has been the subject of several research analyst reports. BMO Capital Markets initiated coverage on shares of T. Rowe Price Group in a report on Friday, October 3rd. They issued a “market perform” rating and a $108.00 price objective for the company. Keefe, Bruyette & Woods upped their price objective on shares of T. Rowe Price Group from $110.00 to $112.00 and gave the stock a “market perform” rating in a report on Monday, August 4th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of T. Rowe Price Group in a report on Wednesday. Jefferies Financial Group upped their price objective on shares of T. Rowe Price Group from $104.00 to $106.00 and gave the stock a “hold” rating in a report on Tuesday. Finally, Wells Fargo & Company boosted their price target on shares of T. Rowe Price Group from $98.00 to $108.00 and gave the stock an “equal weight” rating in a research report on Friday, July 11th. Two equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Reduce” and an average target price of $104.92.

Insider Transactions at T. Rowe Price Group

In other T. Rowe Price Group news, Director Robert F. Maclellan sold 3,090 shares of the business’s stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $105.01, for a total transaction of $324,480.90. Following the sale, the director owned 47,335 shares in the company, valued at approximately $4,970,648.35. The trade was a 6.13% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.00% of the company’s stock.

About T. Rowe Price Group

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.