Grimes & Company Inc. purchased a new stake in shares of T. Rowe Price Group Inc. (NASDAQ:TROW) during the second quarter, Holdings Channel reports. The fund purchased 30,610 shares of the company’s stock, valued at approximately $2,234,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Dubuque Bank & Trust Co. boosted its position in T. Rowe Price Group by 1,479.6% in the first quarter. Dubuque Bank & Trust Co. now owns 1,785 shares of the company’s stock valued at $131,000 after buying an additional 1,672 shares in the last quarter. Checchi Capital Advisers LLC raised its stake in T. Rowe Price Group by 0.9% in the second quarter. Checchi Capital Advisers LLC now owns 1,958 shares of the company’s stock valued at $143,000 after buying an additional 18 shares during the last quarter. BlueMountain Capital Management LLC bought a new stake in T. Rowe Price Group during the first quarter valued at about $192,000. Los Angeles Capital Management & Equity Research Inc. bought a new stake in T. Rowe Price Group during the first quarter valued at about $202,000. Finally, JFS Wealth Advisors LLC raised its stake in T. Rowe Price Group by 3,324.7% in the second quarter. JFS Wealth Advisors LLC now owns 3,185 shares of the company’s stock valued at $232,000 after buying an additional 3,092 shares during the last quarter. Institutional investors and hedge funds own 70.11% of the company’s stock.

Shares of T. Rowe Price Group Inc. (NASDAQ:TROW) traded down 0.02% during midday trading on Tuesday, reaching $66.63. The company’s stock had a trading volume of 1,217,031 shares. T. Rowe Price Group Inc. has a one year low of $63.57 and a one year high of $79.00. The company has a market capitalization of $16.56 billion, a P/E ratio of 16.05 and a beta of 1.18. The stock’s 50-day moving average is $68.68 and its 200-day moving average is $72.49.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings data on Tuesday, July 26th. The company reported $0.76 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.72 by $0.04. T. Rowe Price Group had a return on equity of 22.25% and a net margin of 25.77%. The company earned $1,000 million during the quarter, compared to analyst estimates of $1.03 billion. During the same period in the previous year, the business earned $1.24 EPS. T. Rowe Price Group’s quarterly revenue was down 2.6% on a year-over-year basis. On average, equities analysts expect that T. Rowe Price Group Inc. will post $4.22 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 29th. Stockholders of record on Thursday, September 15th will be given a $0.54 dividend. The ex-dividend date of this dividend is Tuesday, September 13th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 3.24%. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 52.17%.

Several equities research analysts have recently issued reports on TROW shares. Barclays PLC lowered their price objective on T. Rowe Price Group from $78.00 to $76.00 and set an “equal weight” rating for the company in a research note on Tuesday, August 9th. Keefe, Bruyette & Woods lowered their price objective on T. Rowe Price Group from $81.00 to $75.00 and set a “market perform” rating for the company in a research note on Wednesday, July 27th. Deutsche Bank AG lowered T. Rowe Price Group from a “buy” rating to a “hold” rating and lowered their price objective for the company from $79.00 to $75.00 in a research note on Wednesday, July 20th. Bank of America Corp. reaffirmed a “hold” rating on shares of T. Rowe Price Group in a research note on Thursday, May 26th. Finally, TheStreet lowered T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Tuesday, July 26th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the company. T. Rowe Price Group presently has an average rating of “Hold” and an average price target of $75.27.

T. Rowe Price Group Company Profile

T. Rowe Price Group, Inc is a financial services holding company. The Company provides global investment management services to individual and institutional investors in the sponsored T. Rowe Price mutual funds distributed in the United States and other investment portfolios. It operates through investment advisory business segment.

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