T. Rowe Price Group, Inc. (NASDAQ:TROW) Shares Purchased by ProShare Advisors LLC

ProShare Advisors LLC raised its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 2.5% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,635,519 shares of the asset manager’s stock after buying an additional 40,490 shares during the quarter. ProShare Advisors LLC owned about 0.73% of T. Rowe Price Group worth $188,592,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in TROW. Principal Securities Inc. purchased a new position in shares of T. Rowe Price Group during the 4th quarter worth $53,000. Norges Bank purchased a new position in shares of T. Rowe Price Group during the 4th quarter worth $80,831,000. Trexquant Investment LP purchased a new position in shares of T. Rowe Price Group during the 4th quarter worth $671,000. US Bancorp DE lifted its stake in shares of T. Rowe Price Group by 2.2% during the 4th quarter. US Bancorp DE now owns 63,705 shares of the asset manager’s stock worth $6,860,000 after purchasing an additional 1,348 shares during the period. Finally, Commerce Bank lifted its stake in shares of T. Rowe Price Group by 5.8% during the 4th quarter. Commerce Bank now owns 95,240 shares of the asset manager’s stock worth $10,256,000 after purchasing an additional 5,263 shares during the period. Hedge funds and other institutional investors own 73.39% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. StockNews.com lowered T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. TD Cowen cut their target price on T. Rowe Price Group from $123.00 to $118.00 and set a “hold” rating on the stock in a research report on Monday, July 29th. JPMorgan Chase & Co. increased their target price on T. Rowe Price Group from $102.00 to $107.00 and gave the stock an “underweight” rating in a research report on Tuesday, July 23rd. Barclays assumed coverage on T. Rowe Price Group in a research report on Tuesday, August 27th. They issued an “underweight” rating and a $99.00 target price on the stock. Finally, Wells Fargo & Company assumed coverage on T. Rowe Price Group in a research report on Thursday, September 12th. They issued an “equal weight” rating and a $109.00 target price on the stock. Three equities research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $113.30.

Insider Activity

In other news, insider Jessica M. Hiebler sold 1,401 shares of the firm’s stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $115.85, for a total transaction of $162,305.85. Following the completion of the sale, the insider now directly owns 14,198 shares in the company, valued at $1,644,838.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related 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 value of $50,689.32. Following the completion of the transaction, the insider now directly owns 13,939 shares in the company, valued at $1,459,831.47. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 of the company’s stock, valued at $1,644,838.30. The disclosure for this sale can be found here. Insiders sold 13,854 shares of company stock worth $1,443,767 over the last ninety days. Corporate insiders own 2.00% of the company’s stock.

T. Rowe Price Group Price Performance

NASDAQ:TROW opened at $108.29 on Friday. The business’s 50-day moving average is $108.80 and its two-hundred day moving average is $113.28. 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 $24.11 billion, a PE 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 released its quarterly earnings data on Friday, July 26th. The asset manager reported $2.26 EPS for the quarter, missing the consensus estimate of $2.27 by ($0.01). The company had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.79 billion. T. Rowe Price Group had a net margin of 28.66% and a return on equity of 19.90%. The company’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same period last year, the business earned $2.02 earnings per share. Equities analysts anticipate that T. Rowe Price Group, Inc. will post 9 EPS for the current year.

T. Rowe Price Group Announces Dividend

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