Principal Financial Group Inc. increased its position in T. Rowe Price Group Inc. (NASDAQ:TROW) by 19.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 434,045 shares of the company’s stock after buying an additional 70,100 shares during the period. Principal Financial Group Inc. owned about 0.17% of T. Rowe Price Group worth $31,673,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. JPMorgan Chase & Co. boosted its position in shares of T. Rowe Price Group by 1.3% in the second quarter. JPMorgan Chase & Co. now owns 11,341,487 shares of the company’s stock valued at $827,589,000 after buying an additional 141,941 shares in the last quarter. BlackRock Institutional Trust Company N.A. boosted its position in shares of T. Rowe Price Group by 1.2% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 6,523,477 shares of the company’s stock valued at $479,215,000 after buying an additional 75,995 shares in the last quarter. Ameriprise Financial Inc. boosted its position in shares of T. Rowe Price Group by 4.2% in the second quarter. Ameriprise Financial Inc. now owns 4,608,429 shares of the company’s stock valued at $336,259,000 after buying an additional 186,943 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of T. Rowe Price Group by 2.5% in the first quarter. Geode Capital Management LLC now owns 2,340,140 shares of the company’s stock valued at $171,607,000 after buying an additional 56,299 shares in the last quarter. Finally, BlackRock Group LTD boosted its position in shares of T. Rowe Price Group by 1.6% in the first quarter. BlackRock Group LTD now owns 1,980,109 shares of the company’s stock valued at $145,459,000 after buying an additional 31,013 shares in the last quarter. 70.22% of the stock is owned by institutional investors and hedge funds.

T. Rowe Price Group Inc. (NASDAQ:TROW) remained flat at $66.82 during mid-day trading on Friday. The stock had a trading volume of 151,701 shares. T. Rowe Price Group Inc. has a one year low of $63.57 and a one year high of $79.00. The stock has a market cap of $16.61 billion, a PE ratio of 16.10 and a beta of 1.18. The company’s 50-day moving average price is $68.55 and its 200 day moving average price is $72.41.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings data on Tuesday, July 26th. The company reported $0.76 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.72 by $0.04. The firm had revenue of $1,000 million for the quarter, compared to analyst estimates of $1.03 billion. T. Rowe Price Group had a net margin of 25.77% and a return on equity of 22.25%. The business’s quarterly revenue was down 2.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.24 earnings per share. Analysts expect that T. Rowe Price Group Inc. will post $4.23 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 29th. Investors of record on Thursday, September 15th will be given a dividend of $0.54 per share. The ex-dividend date is Tuesday, September 13th. This represents a $2.16 annualized dividend and a yield of 3.23%. T. Rowe Price Group’s dividend payout ratio is presently 52.17%.

Several brokerages have recently weighed in on TROW. Bank of America Corp. reiterated a “hold” rating on shares of T. Rowe Price Group in a research note on Thursday, May 26th. Deutsche Bank AG cut shares of T. Rowe Price Group from a “buy” rating to a “hold” rating and dropped their price target for the stock from $79.00 to $75.00 in a research note on Wednesday, July 20th. TheStreet cut shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Tuesday, July 26th. Morgan Stanley lowered their target price on shares of T. Rowe Price Group from $74.00 to $71.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 28th. Finally, Keefe, Bruyette & Woods lowered their target price on shares of T. Rowe Price Group from $81.00 to $75.00 and set a “market perform” rating on the stock in a research note on Wednesday, July 27th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $75.27.

About T. Rowe Price Group

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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