Bancorpsouth Inc. grew its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 38.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,609 shares of the asset manager’s stock after purchasing an additional 2,096 shares during the quarter. Bancorpsouth Inc.’s holdings in T. Rowe Price Group were worth $565,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Bronfman E.L. Rothschild L.P. lifted its stake in T. Rowe Price Group by 6.9% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 1,593 shares of the asset manager’s stock worth $118,000 after purchasing an additional 103 shares in the last quarter. Mosaic Family Wealth LLC lifted its stake in T. Rowe Price Group by 4.5% in the 1st quarter. Mosaic Family Wealth LLC now owns 1,967 shares of the asset manager’s stock worth $134,000 after purchasing an additional 85 shares in the last quarter. Benjamin F. Edwards & Company Inc. lifted its stake in T. Rowe Price Group by 103.0% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 2,119 shares of the asset manager’s stock worth $157,000 after purchasing an additional 1,075 shares in the last quarter. FNY Partners Fund LP purchased a new position in T. Rowe Price Group in the 1st quarter worth approximately $147,000. Finally, TCI Wealth Advisors Inc. lifted its stake in T. Rowe Price Group by 5.6% in the 2nd quarter. TCI Wealth Advisors Inc. now owns 2,535 shares of the asset manager’s stock worth $188,000 after purchasing an additional 135 shares in the last quarter. 73.62% of the stock is currently owned by institutional investors and hedge funds.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings results on Tuesday, July 25th. The asset manager reported $1.28 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.27 by $0.01. The company had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.16 billion. T. Rowe Price Group had a net margin of 32.64% and a return on equity of 24.38%. T. Rowe Price Group’s revenue was up 12.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.76 earnings per share.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 28th. Stockholders of record on Thursday, September 14th will be paid a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.63%. The ex-dividend date is Wednesday, September 13th. T. Rowe Price Group’s dividend payout ratio is presently 39.18%.

A number of research analysts have weighed in on TROW shares. Morgan Stanley reissued an “underweight” rating and issued a $70.00 target price (up from $64.00) on shares of T. Rowe Price Group in a research note on Monday, July 10th. Jefferies Group LLC set a $83.00 price target on shares of T. Rowe Price Group and gave the company a “buy” rating in a research report on Tuesday, June 20th. Credit Suisse Group lifted their price target on shares of T. Rowe Price Group from $70.00 to $90.00 and gave the company a “neutral” rating in a research report on Wednesday, July 26th. Citigroup Inc. lifted their price target on shares of T. Rowe Price Group from $73.50 to $90.00 and gave the company a “neutral” rating in a research report on Wednesday, July 26th. Finally, ValuEngine lowered shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Four investment analysts have rated the stock with a sell rating, seven have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $81.30.

In other news, Director Anne M. Whittemore sold 8,326 shares of the firm’s stock in a transaction on Thursday, July 27th. The shares were sold at an average price of $82.03, for a total value of $682,981.78. Following the transaction, the director now owns 28,982 shares of the company’s stock, valued at approximately $2,377,393.46. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Jessica M. Hiebler sold 1,000 shares of the firm’s stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $84.29, for a total transaction of $84,290.00. Following the completion of the transaction, the insider now directly owns 8,461 shares in the company, valued at approximately $713,177.69. The disclosure for this sale can be found here. In the last three months, insiders sold 19,720 shares of company stock worth $1,630,701. Insiders own 3.60% of the company’s stock.

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T. Rowe Price Group Company 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.

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

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