Thrivent Financial for Lutherans Has $1.09 Million Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Thrivent Financial for Lutherans cut its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 11.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,425 shares of the asset manager’s stock after selling 1,194 shares during the period. Thrivent Financial for Lutherans’ holdings in T. Rowe Price Group were worth $1,087,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Ashton Thomas Private Wealth LLC acquired a new position in shares of T. Rowe Price Group in the 1st quarter worth approximately $1,008,000. Nebula Research & Development LLC acquired a new stake in T. Rowe Price Group during the 4th quarter valued at $807,000. Fisher Asset Management LLC increased its holdings 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 in the last quarter. Envestnet Portfolio Solutions Inc. increased its holdings 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 in the last quarter. Finally, Norden Group LLC acquired a new stake in T. Rowe Price Group during the 1st quarter valued at $8,437,000. 73.39% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on TROW shares. TD Cowen dropped their price target on T. Rowe Price Group from $123.00 to $118.00 and set a “hold” rating for the company in a report on Monday, July 29th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $120.00 price target (down from $121.00) on shares of T. Rowe Price Group in a report on Monday, July 29th. The Goldman Sachs Group dropped their price target on T. Rowe Price Group from $106.00 to $102.00 and set a “sell” rating for the company in a report on Thursday. Deutsche Bank Aktiengesellschaft lifted their target price on 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. Finally, StockNews.com cut T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Four equities research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. According to data from MarketBeat.com, T. Rowe Price Group currently has a consensus rating of “Hold” and an average price target of $112.36.

Insider Transactions at T. Rowe Price Group

In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 484 shares of T. Rowe Price Group stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $104.73, for a total transaction of $50,689.32. Following the transaction, the insider now directly owns 13,939 shares in the company, valued at approximately $1,459,831.47. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 484 shares of T. Rowe Price Group stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $104.73, for a total transaction of $50,689.32. Following the transaction, the insider now directly owns 13,939 shares in the company, valued at approximately $1,459,831.47. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of T. Rowe Price Group 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 owns 123,624 shares in the company, valued at approximately $12,712,255.92. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is owned by corporate insiders.

T. Rowe Price Group Stock Up 1.9 %

NASDAQ:TROW opened at $108.47 on Friday. T. Rowe Price Group, Inc. has a 12-month low of $87.43 and a 12-month high of $122.27. The firm has a market capitalization of $24.22 billion, a P/E ratio of 12.88, a P/E/G ratio of 1.72 and a beta of 1.41. The stock’s fifty day simple moving average is $107.17 and its 200-day simple moving average is $112.71.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings results 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 return on equity of 19.90% and a net margin of 28.66%. The company had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.79 billion. During the same quarter in the prior year, the business earned $2.02 earnings per share. The firm’s revenue for the quarter was up 7.6% on a year-over-year basis. As a group, equities research analysts expect that T. Rowe Price Group, Inc. will post 8.96 earnings per share for the current year.

T. Rowe Price Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were given a $1.24 dividend. The ex-dividend date was Friday, September 13th. This represents a $4.96 annualized dividend and a dividend yield of 4.57%. T. Rowe Price Group’s dividend payout ratio is currently 58.91%.

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.