Rafferty Asset Management LLC trimmed its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 20.7% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,938 shares of the asset manager’s stock after selling 9,113 shares during the quarter. Rafferty Asset Management LLC’s holdings in T. Rowe Price Group were worth $2,593,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Cleararc Capital Inc. grew its holdings in shares of T. Rowe Price Group by 0.5% during the 1st quarter. Cleararc Capital Inc. now owns 5,944 shares of the asset manager’s stock worth $405,000 after purchasing an additional 31 shares in the last quarter. Sheets Smith Wealth Management grew its holdings in shares of T. Rowe Price Group by 0.7% during the 2nd quarter. Sheets Smith Wealth Management now owns 5,292 shares of the asset manager’s stock worth $393,000 after purchasing an additional 38 shares in the last quarter. Good Life Advisors LLC grew its holdings in shares of T. Rowe Price Group by 1.1% during the 2nd quarter. Good Life Advisors LLC now owns 4,650 shares of the asset manager’s stock worth $359,000 after purchasing an additional 52 shares in the last quarter. GHP Investment Advisors Inc. grew its holdings in shares of T. Rowe Price Group by 0.3% during the 2nd quarter. GHP Investment Advisors Inc. now owns 19,549 shares of the asset manager’s stock worth $1,451,000 after purchasing an additional 53 shares in the last quarter. Finally, Private Trust Co. NA grew its holdings in shares of T. Rowe Price Group by 0.8% during the 2nd quarter. Private Trust Co. NA now owns 7,307 shares of the asset manager’s stock worth $542,000 after purchasing an additional 60 shares in the last quarter. 73.62% of the stock is currently owned by hedge funds and other institutional investors.

Several analysts have recently issued reports on TROW shares. UBS AG reissued a “sell” rating and set a $61.00 target price (down from $77.00) on shares of T. Rowe Price Group in a report on Wednesday, May 24th. ValuEngine lowered T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. BidaskClub raised T. Rowe Price Group from a “buy” rating to a “strong-buy” rating in a report on Wednesday, June 14th. Jefferies Group LLC set a $83.00 target price on T. Rowe Price Group and gave the stock a “buy” rating in a report on Tuesday, June 20th. Finally, Zacks Investment Research raised T. Rowe Price Group from a “hold” rating to a “buy” rating and set a $83.00 target price on the stock in a report on Wednesday, June 28th. Four investment analysts have rated the stock with a sell rating, seven have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $81.30.

Shares of T. Rowe Price Group, Inc. (TROW) opened at 85.72 on Thursday. T. Rowe Price Group, Inc. has a 1-year low of $62.97 and a 1-year high of $85.87. The firm has a market capitalization of $20.60 billion, a price-to-earnings ratio of 14.72 and a beta of 1.24. The company has a 50-day moving average price of $83.46 and a 200 day moving average price of $75.43.

T. Rowe Price Group (NASDAQ:TROW) last posted its earnings results on Tuesday, July 25th. The asset manager reported $1.28 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.27 by $0.01. T. Rowe Price Group had a return on equity of 24.38% and a net margin of 32.64%. The business had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.16 billion. During the same period in the previous year, the business earned $0.76 earnings per share. The firm’s revenue was up 12.1% on a year-over-year basis. On average, equities research analysts predict that T. Rowe Price Group, Inc. will post $5.65 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 28th. Investors of record on Thursday, September 14th will be given a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 2.66%. The ex-dividend date of this dividend is Wednesday, September 13th. T. Rowe Price Group’s payout ratio is 39.18%.

In related news, Director Anne M. Whittemore sold 8,326 shares of the business’s stock in a transaction dated Thursday, July 27th. The stock was sold at an average price of $82.03, for a total transaction of $682,981.78. Following the completion of the transaction, the director now directly owns 28,982 shares in the company, valued at $2,377,393.46. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Jessica M. Hiebler sold 1,000 shares of the business’s stock in a transaction dated Thursday, August 31st. The stock was sold at an average price of $84.29, for a total value of $84,290.00. Following the transaction, the insider now owns 8,461 shares of the company’s stock, valued at $713,177.69. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 19,720 shares of company stock valued at $1,630,701. 3.60% of the stock is owned by company insiders.

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About T. Rowe Price Group

T. Rowe Price Group, Inc is a financial services holding company. The Company provides global investment management services through its subsidiaries to investors across the world. The Company provides an array of Company sponsored the United States mutual funds, other sponsored pooled investment vehicles, sub advisory services, separate account management, recordkeeping, and related services to individuals, advisors, institutions, financial intermediaries and retirement plan sponsors.

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Institutional Ownership by Quarter for T. Rowe Price Group (NASDAQ:TROW)

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