T. Rowe Price Group, Inc. (NASDAQ:TROW) Shares Sold by Benjamin F. Edwards & Company Inc.

Benjamin F. Edwards & Company Inc. reduced its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 37.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 79,386 shares of the asset manager’s stock after selling 47,295 shares during the period. Benjamin F. Edwards & Company Inc.’s holdings in T. Rowe Price Group were worth $9,154,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of TROW. Victory Capital Management Inc. lifted its stake in T. Rowe Price Group by 3.8% in the 2nd quarter. Victory Capital Management Inc. now owns 3,436,019 shares of the asset manager’s stock worth $396,207,000 after purchasing an additional 124,686 shares in the last quarter. American Century Companies Inc. lifted its position in T. Rowe Price Group by 4.5% during the second quarter. American Century Companies Inc. now owns 2,512,793 shares of the asset manager’s stock worth $289,750,000 after buying an additional 107,086 shares in the last quarter. Fisher Asset Management LLC boosted its stake in T. Rowe Price Group by 6.6% during the fourth quarter. Fisher Asset Management LLC now owns 1,751,405 shares of the asset manager’s stock worth $188,609,000 after buying an additional 109,053 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in T. Rowe Price Group by 15.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,611,307 shares of the asset manager’s stock valued at $185,810,000 after buying an additional 220,105 shares in the last quarter. Finally, First Trust Advisors LP grew its holdings 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 valued at $126,413,000 after buying an additional 15,504 shares in the last quarter. 73.39% of the stock is currently owned by institutional investors and hedge funds.

T. Rowe Price Group Stock Down 2.0 %

NASDAQ:TROW opened at $108.29 on Friday. T. Rowe Price Group, Inc. has a 52 week low of $87.43 and a 52 week high of $122.27. The stock’s fifty day moving average is $108.80 and its two-hundred day moving average is $113.30. The stock has a market capitalization of $24.11 billion, a price-to-earnings ratio of 12.86, a price-to-earnings-growth ratio of 1.69 and a beta of 1.41.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings data on Friday, July 26th. The asset manager reported $2.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.27 by ($0.01). T. Rowe Price Group had a net margin of 28.66% and a return on equity of 19.90%. The firm had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.79 billion. During the same quarter in the prior year, the firm posted $2.02 EPS. T. Rowe Price Group’s quarterly revenue was up 7.6% compared to the same quarter last year. On average, sell-side analysts expect that T. Rowe Price Group, Inc. will post 9 EPS for the current fiscal year.

T. Rowe Price Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be paid a $1.24 dividend. This represents a $4.96 annualized dividend and a dividend yield of 4.58%. The ex-dividend date of this dividend is Friday, September 13th. T. Rowe Price Group’s payout ratio is 58.91%.

Insider Activity

In related news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $102.83, for a total transaction of $1,230,772.27. Following the sale, the vice president now directly owns 123,624 shares of the company’s stock, valued at approximately $12,712,255.92. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, insider Jessica M. Hiebler sold 1,401 shares of T. Rowe Price Group stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $115.85, for a total value of $162,305.85. Following the completion of the transaction, the insider now owns 14,198 shares in the company, valued at approximately $1,644,838.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the business’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $102.83, for a total value of $1,230,772.27. Following the transaction, the vice president now directly owns 123,624 shares of the company’s stock, valued at $12,712,255.92. The disclosure for this sale can be found here. Over the last quarter, insiders sold 13,854 shares of company stock valued at $1,443,767. 2.00% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on TROW. Wells Fargo & Company assumed coverage on shares of T. Rowe Price Group in a research report on Thursday, September 12th. They set an “equal weight” rating and a $109.00 price target on the stock. TD Cowen decreased their target price on shares of T. Rowe Price Group from $123.00 to $118.00 and set a “hold” rating on the stock in a report on Monday, July 29th. Deutsche Bank Aktiengesellschaft increased their price target on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the company a “hold” rating in a research note on Thursday, August 15th. Barclays initiated coverage on shares of T. Rowe Price Group in a research report on Tuesday, August 27th. They set an “underweight” rating and a $99.00 price target on the stock. Finally, Evercore ISI lowered their price objective on T. Rowe Price Group from $115.00 to $108.00 and set an “in-line” rating for the company in a research report on Thursday, September 5th. Three analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. According to data from MarketBeat, T. Rowe Price Group currently has an average rating of “Hold” and a consensus price target of $113.30.

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.