T. Rowe Price Group, Inc. $TROW Stake Lowered by Davis R M Inc.

Davis R M Inc. cut its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 38.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,710 shares of the asset manager’s stock after selling 12,563 shares during the quarter. Davis R M Inc.’s holdings in T. Rowe Price Group were worth $1,902,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of TROW. Invesco Ltd. increased its position in T. Rowe Price Group by 43.2% in the 1st quarter. Invesco Ltd. now owns 3,433,684 shares of the asset manager’s stock worth $315,453,000 after purchasing an additional 1,035,865 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of T. Rowe Price Group by 7.2% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 7,706,251 shares of the asset manager’s stock valued at $707,973,000 after buying an additional 519,075 shares during the last quarter. ARGA Investment Management LP grew its stake in shares of T. Rowe Price Group by 3,807.3% in the 2nd quarter. ARGA Investment Management LP now owns 477,161 shares of the asset manager’s stock valued at $46,046,000 after buying an additional 464,949 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in T. Rowe Price Group during the second quarter valued at approximately $37,722,000. Finally, ProShare Advisors LLC lifted its stake in T. Rowe Price Group by 21.7% in the second quarter. ProShare Advisors LLC now owns 1,887,935 shares of the asset manager’s stock valued at $182,186,000 after acquiring an additional 337,112 shares during the last quarter. Institutional investors and hedge funds own 73.39% of the company’s stock.

Insider Activity at T. Rowe Price Group

In other news, Director Robert F. Maclellan sold 3,090 shares of the company’s stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $105.01, for a total transaction of $324,480.90. Following the completion of the transaction, the director directly owned 47,335 shares in the company, valued at $4,970,648.35. The trade was a 6.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.00% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have recently commented on TROW. Deutsche Bank Aktiengesellschaft dropped their price target on shares of T. Rowe Price Group from $114.00 to $112.00 and set a “hold” rating on the stock in a research note on Monday, November 3rd. Zacks Research raised shares of T. Rowe Price Group from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 10th. Jefferies Financial Group raised their target price on T. Rowe Price Group from $104.00 to $106.00 and gave the company a “hold” rating in a report on Tuesday, October 7th. The Goldman Sachs Group upped their price target on T. Rowe Price Group from $93.00 to $98.00 in a research note on Monday, November 3rd. Finally, Bank of America increased their price objective on T. Rowe Price Group from $91.00 to $97.00 and gave the company an “underperform” rating in a report on Thursday, October 2nd. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat, T. Rowe Price Group has a consensus rating of “Reduce” and a consensus price target of $109.31.

T. Rowe Price Group Price Performance

T. Rowe Price Group stock opened at $103.00 on Tuesday. T. Rowe Price Group, Inc. has a fifty-two week low of $77.85 and a fifty-two week high of $125.81. The firm has a fifty day moving average price of $104.36 and a two-hundred day moving average price of $100.99. The firm has a market cap of $22.48 billion, a price-to-earnings ratio of 11.51, a P/E/G ratio of 5.61 and a beta of 1.51.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings results on Friday, October 31st. The asset manager reported $2.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.55 by $0.26. T. Rowe Price Group had a return on equity of 19.77% and a net margin of 28.72%.The company had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.88 billion. During the same period last year, the business posted $2.57 earnings per share. The firm’s revenue was up 6.0% compared to the same quarter last year. As a group, sell-side analysts expect that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Monday, December 15th will be given a $1.27 dividend. This represents a $5.08 annualized dividend and a yield of 4.9%. The ex-dividend date of this dividend is Monday, December 15th. T. Rowe Price Group’s payout ratio is currently 55.34%.

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.