Pinnacle Associates Ltd. decreased its stake in T. Rowe Price Group Inc (NASDAQ:TROW) by 1.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,050 shares of the asset manager’s stock after selling 203 shares during the quarter. Pinnacle Associates Ltd.’s holdings in T. Rowe Price Group were worth $2,200,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Northwest Investment Counselors LLC boosted its stake in T. Rowe Price Group by 0.7% in the first quarter. Northwest Investment Counselors LLC now owns 13,426 shares of the asset manager’s stock worth $1,344,000 after purchasing an additional 96 shares in the last quarter. Unison Advisors LLC boosted its stake in T. Rowe Price Group by 0.7% in the second quarter. Unison Advisors LLC now owns 13,584 shares of the asset manager’s stock worth $1,490,000 after purchasing an additional 100 shares in the last quarter. Kistler Tiffany Companies LLC boosted its stake in T. Rowe Price Group by 66.7% in the second quarter. Kistler Tiffany Companies LLC now owns 250 shares of the asset manager’s stock worth $27,000 after purchasing an additional 100 shares in the last quarter. Duncker Streett & Co. Inc. boosted its stake in T. Rowe Price Group by 3.1% in the second quarter. Duncker Streett & Co. Inc. now owns 3,279 shares of the asset manager’s stock worth $360,000 after purchasing an additional 100 shares in the last quarter. Finally, Mid Atlantic Financial Management Inc. ADV boosted its stake in T. Rowe Price Group by 1.4% in the first quarter. Mid Atlantic Financial Management Inc. ADV now owns 7,352 shares of the asset manager’s stock worth $736,000 after purchasing an additional 103 shares in the last quarter. 68.80% of the stock is currently owned by institutional investors and hedge funds.

TROW has been the topic of a number of recent analyst reports. Deutsche Bank reduced their price objective on T. Rowe Price Group from $115.00 to $112.00 and set a “hold” rating on the stock in a research note on Friday, August 9th. UBS Group boosted their price objective on T. Rowe Price Group from $109.00 to $111.00 and gave the stock a “neutral” rating in a research note on Monday, July 8th. Gabelli reissued a “buy” rating on shares of T. Rowe Price Group in a research note on Thursday, April 25th. Morgan Stanley boosted their price objective on T. Rowe Price Group from $117.00 to $122.00 and gave the stock an “equal weight” rating in a research note on Friday, July 26th. Finally, Barclays boosted their price objective on T. Rowe Price Group from $90.00 to $95.00 and gave the stock an “underweight” rating in a research note on Thursday, April 25th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $109.75.

Shares of TROW traded up $0.34 during trading hours on Thursday, hitting $109.11. 513 shares of the stock traded hands, compared to its average volume of 1,234,593. The company has a current ratio of 3.91, a quick ratio of 3.91 and a debt-to-equity ratio of 0.02. T. Rowe Price Group Inc has a 1-year low of $84.59 and a 1-year high of $117.68. The firm has a market capitalization of $25.82 billion, a PE ratio of 15.25, a price-to-earnings-growth ratio of 1.65 and a beta of 1.05. The business has a fifty day moving average of $109.86 and a 200-day moving average of $104.44.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings results on Wednesday, July 24th. The asset manager reported $2.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.88 by $0.15. T. Rowe Price Group had a return on equity of 28.80% and a net margin of 36.17%. The business had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.39 billion. During the same quarter in the prior year, the firm posted $1.87 earnings per share. The firm’s revenue for the quarter was up 3.7% compared to the same quarter last year. As a group, equities research analysts expect that T. Rowe Price Group Inc will post 7.78 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be paid a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a dividend yield of 2.79%. The ex-dividend date is Thursday, September 12th. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 42.52%.

In related news, Director Mary K. Bush sold 3,500 shares of the company’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $107.06, for a total value of $374,710.00. Following the completion of the sale, the director now owns 19,243 shares in the company, valued at $2,060,155.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Christopher D. Alderson sold 36,898 shares of the company’s stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $114.41, for a total value of $4,221,500.18. Following the completion of the sale, the vice president now owns 414,144 shares of the company’s stock, valued at approximately $47,382,215.04. The disclosure for this sale can be found here. Insiders have sold 64,209 shares of company stock worth $7,302,649 in the last ninety days. 3.10% of the stock is currently owned by insiders.

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.

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

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