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

Benjamin Edwards Inc. lowered its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 61.6% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 856 shares of the asset manager’s stock after selling 1,374 shares during the quarter. Benjamin Edwards Inc.’s holdings in T. Rowe Price Group were worth $99,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of TROW. Norges Bank acquired a new position in T. Rowe Price Group in the 4th quarter valued at about $80,831,000. Trexquant Investment LP acquired a new position in shares of T. Rowe Price Group in the fourth quarter valued at approximately $671,000. US Bancorp DE lifted its stake in shares of T. Rowe Price Group by 2.2% during the fourth quarter. US Bancorp DE now owns 63,705 shares of the asset manager’s stock valued at $6,860,000 after buying an additional 1,348 shares during the period. FineMark National Bank & Trust boosted its position in T. Rowe Price Group by 5.4% during the fourth quarter. FineMark National Bank & Trust now owns 2,049 shares of the asset manager’s stock worth $221,000 after acquiring an additional 105 shares during the last quarter. Finally, Advisory Services Network LLC grew its stake in T. Rowe Price Group by 1.4% in the 4th quarter. Advisory Services Network LLC now owns 20,021 shares of the asset manager’s stock worth $2,156,000 after acquiring an additional 285 shares during the period. Institutional investors and hedge funds own 73.39% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. StockNews.com downgraded T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Evercore ISI dropped their price target on T. Rowe Price Group from $115.00 to $108.00 and set an “in-line” rating for the company in a research note on Thursday, September 5th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $120.00 price objective (down from $121.00) on shares of T. Rowe Price Group in a research note on Monday, July 29th. TD Cowen decreased their target price 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. Finally, JPMorgan Chase & Co. raised their price target on shares of T. Rowe Price Group from $102.00 to $107.00 and gave the company an “underweight” rating in a report on Tuesday, July 23rd. Three analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. Based on data from MarketBeat.com, T. Rowe Price Group presently has an average rating of “Hold” and an average price target of $113.30.

T. Rowe Price Group Stock Performance

T. Rowe Price Group stock opened at $108.29 on Monday. T. Rowe Price Group, Inc. has a one year low of $87.43 and a one year high of $122.27. The stock’s 50 day moving average price is $108.80 and its 200 day moving average price is $113.25. The firm has a market capitalization of $24.18 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 announced its earnings results on Friday, July 26th. The asset manager reported $2.26 earnings per share for the quarter, missing the consensus estimate of $2.27 by ($0.01). The firm 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%. T. Rowe Price Group’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same quarter last year, the company posted $2.02 earnings per share. On average, analysts forecast that T. Rowe Price Group, Inc. will post 9 earnings per share for the current fiscal 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 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%.

Insider Transactions at T. Rowe Price Group

In related news, insider Jessica M. Hiebler sold 1,401 shares of the 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Jessica M. Hiebler sold 484 shares of T. Rowe Price Group stock in a transaction on Friday, September 13th. The shares were sold at an average price of $104.73, for a total value of $50,689.32. Following the completion of the sale, the insider now owns 13,939 shares in the company, valued at $1,459,831.47. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jessica M. Hiebler sold 1,401 shares of the stock in a transaction on 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 owns 14,198 shares in the company, valued at $1,644,838.30. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 13,854 shares of company stock valued at $1,443,767. 2.00% of the stock is currently owned by insiders.

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.