Neuberger Berman Group LLC reduced its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 11.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,917 shares of the asset manager’s stock after selling 1,029 shares during the quarter. Neuberger Berman Group LLC’s holdings in T. Rowe Price Group were worth $588,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. BlackRock Inc. lifted its holdings in shares of T. Rowe Price Group by 1,722.6% in the 1st quarter. BlackRock Inc. now owns 16,378,787 shares of the asset manager’s stock valued at $1,116,214,000 after buying an additional 15,480,155 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of T. Rowe Price Group by 6.7% in the 1st quarter. JPMorgan Chase & Co. now owns 11,600,022 shares of the asset manager’s stock valued at $790,542,000 after buying an additional 728,477 shares during the period. Geode Capital Management LLC lifted its holdings in shares of T. Rowe Price Group by 8.8% in the 1st quarter. Geode Capital Management LLC now owns 2,818,756 shares of the asset manager’s stock valued at $191,869,000 after buying an additional 228,194 shares during the period. American Century Companies Inc. lifted its holdings in shares of T. Rowe Price Group by 66.4% in the 2nd quarter. American Century Companies Inc. now owns 2,544,655 shares of the asset manager’s stock valued at $188,839,000 after buying an additional 1,015,518 shares during the period. Finally, Thomaspartners Inc. lifted its holdings in shares of T. Rowe Price Group by 12.6% in the 1st quarter. Thomaspartners Inc. now owns 2,208,621 shares of the asset manager’s stock valued at $150,518,000 after buying an additional 246,695 shares during the period. 73.62% of the stock is owned by institutional investors and hedge funds.

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T. Rowe Price Group, Inc. (NASDAQ:TROW) opened at 85.97 on Friday. The company has a 50 day moving average price of $83.46 and a 200 day moving average price of $75.43. The firm has a market cap of $20.66 billion, a PE ratio of 14.76 and a beta of 1.24. T. Rowe Price Group, Inc. has a 1-year low of $62.97 and a 1-year high of $86.13.

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

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 28th. Investors of record on Thursday, September 14th will be paid a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 2.65%. The ex-dividend date of this dividend is Wednesday, September 13th. T. Rowe Price Group’s payout ratio is presently 39.18%.

In other T. Rowe Price Group news, Director Anne M. Whittemore sold 8,326 shares of the firm’s stock in a transaction dated Thursday, July 27th. The shares were 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 owns 28,982 shares in the company, valued at $2,377,393.46. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Jessica M. Hiebler sold 1,000 shares of the firm’s stock in a transaction dated Thursday, August 31st. The stock was sold at an average price of $84.29, for a total transaction of $84,290.00. Following the transaction, the insider now owns 8,461 shares of the company’s stock, valued at approximately $713,177.69. The disclosure for this sale can be found here. In the last quarter, insiders sold 19,720 shares of company stock valued at $1,630,701. 3.60% of the stock is owned by corporate insiders.

TROW has been the subject of several recent analyst reports. Zacks Investment Research raised T. Rowe Price Group from a “hold” rating to a “buy” rating and set a $83.00 price target for the company in a report on Wednesday, June 28th. Jefferies Group LLC set a $83.00 price target on T. Rowe Price Group and gave the company a “buy” rating in a report on Tuesday, June 20th. ValuEngine raised T. Rowe Price Group from a “hold” rating to a “buy” rating in a report on Wednesday, August 2nd. BidaskClub cut T. Rowe Price Group from a “strong-buy” rating to a “buy” rating in a report on Tuesday, August 1st. Finally, Wells Fargo & Company reaffirmed a “market perform” rating on shares of T. Rowe Price Group in a report on Thursday, July 27th. Four analysts have rated the stock with a sell rating, seven have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $81.30.

T. Rowe Price Group Profile

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.

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

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