King Luther Capital Management Corp Has $3.04 Million Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

King Luther Capital Management Corp reduced its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 3.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,355 shares of the asset manager’s stock after selling 914 shares during the quarter. King Luther Capital Management Corp’s holdings in T. Rowe Price Group were worth $3,039,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Nomura Asset Management Co. Ltd. raised its stake in T. Rowe Price Group by 15.8% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 344,889 shares of the asset manager’s stock valued at $37,141,000 after purchasing an additional 47,043 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new position in T. Rowe Price Group during the 1st quarter valued at $1,008,000. Nebula Research & Development LLC acquired a new position in T. Rowe Price Group during the 4th quarter valued at $807,000. Fisher Asset Management LLC raised its stake in T. Rowe Price Group by 6.6% during the 4th quarter. Fisher Asset Management LLC now owns 1,751,405 shares of the asset manager’s stock valued at $188,609,000 after purchasing an additional 109,053 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. raised its stake in T. Rowe Price Group by 52.4% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 65,534 shares of the asset manager’s stock valued at $7,990,000 after purchasing an additional 22,533 shares during 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 %

Shares of NASDAQ:TROW opened at $108.29 on Friday. T. Rowe Price Group, Inc. has a 12 month low of $87.43 and a 12 month high of $122.27. The company’s 50-day moving average price is $108.80 and its two-hundred day moving average price is $113.28. The firm has a market cap of $24.11 billion, a P/E ratio of 12.86, a P/E/G ratio of 1.69 and a beta of 1.41.

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

T. Rowe Price Group Dividend Announcement

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

Insiders Place Their Bets

In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 484 shares of the stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $104.73, for a total transaction of $50,689.32. Following the sale, the insider now owns 13,939 shares of the company’s stock, valued at approximately $1,459,831.47. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 1,401 shares of the company’s stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $115.85, for a total transaction of $162,305.85. Following the transaction, the insider now directly owns 14,198 shares in the company, valued at approximately $1,644,838.30. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Jessica M. Hiebler sold 484 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $104.73, for a total transaction of $50,689.32. Following the transaction, the insider now owns 13,939 shares in the company, valued at $1,459,831.47. The disclosure for this sale can be found here. Insiders have sold a total of 13,854 shares of company stock valued at $1,443,767 in the last 90 days. 2.00% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. TD Cowen lowered their price target 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. Wells Fargo & Company assumed coverage on shares of T. Rowe Price Group in a report on Thursday, September 12th. They issued an “equal weight” rating and a $109.00 price target on the stock. Barclays assumed coverage on shares of T. Rowe Price Group in a report on Tuesday, August 27th. They issued an “underweight” rating and a $99.00 price target on the stock. Deutsche Bank Aktiengesellschaft boosted 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 report on Thursday, August 15th. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $120.00 price target (down previously from $121.00) on shares of T. Rowe Price Group in a report on Monday, July 29th. Three analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. Based on data from MarketBeat, T. Rowe Price Group presently has an average rating of “Hold” and an average price target of $113.30.

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.