DekaBank Deutsche Girozentrale Sells 365 Shares of T. Rowe Price Group, Inc. $TROW

DekaBank Deutsche Girozentrale reduced its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 0.4% in the second quarter, Holdings Channel reports. The institutional investor owned 99,718 shares of the asset manager’s stock after selling 365 shares during the period. DekaBank Deutsche Girozentrale’s holdings in T. Rowe Price Group were worth $9,589,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in TROW. Invesco Ltd. increased its holdings in T. Rowe Price Group by 43.2% during the first quarter. Invesco Ltd. now owns 3,433,684 shares of the asset manager’s stock valued at $315,453,000 after buying an additional 1,035,865 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in T. Rowe Price Group by 7.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 7,706,251 shares of the asset manager’s stock valued at $707,973,000 after buying an additional 519,075 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in T. Rowe Price Group during the second quarter valued at approximately $37,722,000. Vanguard Group Inc. increased its holdings in T. Rowe Price Group by 0.9% during the first quarter. Vanguard Group Inc. now owns 26,286,393 shares of the asset manager’s stock valued at $2,414,931,000 after buying an additional 222,556 shares during the last quarter. Finally, Vest Financial LLC increased its holdings in T. Rowe Price Group by 31.1% during the second quarter. Vest Financial LLC now owns 616,351 shares of the asset manager’s stock valued at $59,478,000 after buying an additional 146,382 shares during the last quarter. 73.39% of the stock is owned by hedge funds and other institutional investors.

T. Rowe Price Group Stock Performance

Shares of NASDAQ:TROW opened at $102.49 on Friday. The firm has a fifty day moving average price of $105.41 and a 200 day moving average price of $99.32. T. Rowe Price Group, Inc. has a fifty-two week low of $77.85 and a fifty-two week high of $125.81. The firm has a market cap of $22.52 billion, a price-to-earnings ratio of 11.45, a P/E/G ratio of 5.63 and a beta of 1.50.

T. Rowe Price Group (NASDAQ:TROW) last issued its earnings results on Friday, August 1st. The asset manager reported $2.24 earnings per share for the quarter, topping analysts’ consensus estimates of $2.15 by $0.09. T. Rowe Price Group had a net margin of 28.72% and a return on equity of 19.77%. The firm had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.72 billion. During the same quarter in the prior year, the business earned $2.26 earnings per share. T. Rowe Price Group’s revenue for the quarter was down .6% on a year-over-year basis. As a group, research analysts predict that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Monday, September 15th were given a dividend of $1.27 per share. The ex-dividend date was Monday, September 15th. This represents a $5.08 dividend on an annualized basis and a dividend yield of 5.0%. T. Rowe Price Group’s dividend payout ratio is currently 56.76%.

Insider Buying and Selling at T. Rowe Price Group

In related news, Director Robert F. Maclellan sold 3,090 shares of the company’s stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $105.01, for a total transaction of $324,480.90. Following the completion of the transaction, the director owned 47,335 shares in the company, valued at approximately $4,970,648.35. This represents a 6.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

TROW has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft upped their target price on shares of T. Rowe Price Group from $109.00 to $114.00 and gave the company a “hold” rating in a report on Thursday, October 9th. The Goldman Sachs Group increased their price objective on shares of T. Rowe Price Group from $91.00 to $92.00 and gave the stock a “sell” rating in a research note on Friday, October 3rd. Jefferies Financial Group increased their price objective on shares of T. Rowe Price Group from $104.00 to $106.00 and gave the stock a “hold” rating in a research note on Tuesday, October 7th. TD Cowen increased their price objective on shares of T. Rowe Price Group from $103.00 to $108.00 and gave the stock a “hold” rating in a research note on Wednesday, October 8th. Finally, Barclays increased their price objective on shares of T. Rowe Price Group from $95.00 to $103.00 and gave the stock an “underweight” rating in a research note on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, ten have assigned a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat, T. Rowe Price Group has an average rating of “Reduce” and a consensus target price of $107.54.

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.