Sprucegrove Investment Management Ltd. boosted its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 19.5% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 228,000 shares of the asset manager’s stock after acquiring an additional 37,200 shares during the quarter. T. Rowe Price Group makes up approximately 1.0% of Sprucegrove Investment Management Ltd.’s portfolio, making the stock its 23rd largest holding. Sprucegrove Investment Management Ltd. owned 0.09% of T. Rowe Price Group worth $16,920,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Vanguard Group Inc. raised its position in T. Rowe Price Group by 1.7% during the second quarter. Vanguard Group Inc. now owns 16,576,728 shares of the asset manager’s stock valued at $1,230,159,000 after acquiring an additional 282,162 shares in the last quarter. BlackRock Inc. raised its position in T. Rowe Price Group by 0.4% during the second quarter. BlackRock Inc. now owns 16,440,056 shares of the asset manager’s stock valued at $1,220,017,000 after acquiring an additional 61,269 shares in the last quarter. JPMorgan Chase & Co. raised its position in T. Rowe Price Group by 1.3% during the second quarter. JPMorgan Chase & Co. now owns 11,756,348 shares of the asset manager’s stock valued at $872,439,000 after acquiring an additional 156,326 shares in the last quarter. Geode Capital Management LLC raised its position in T. Rowe Price Group by 8.8% during the first quarter. Geode Capital Management LLC now owns 2,818,756 shares of the asset manager’s stock valued at $191,869,000 after acquiring an additional 228,194 shares in the last quarter. Finally, American Century Companies Inc. raised its position in T. Rowe Price Group by 66.4% during the second quarter. American Century Companies Inc. now owns 2,544,655 shares of the asset manager’s stock valued at $188,839,000 after acquiring an additional 1,015,518 shares in the last quarter. 73.62% of the stock is currently owned by hedge funds and other institutional investors.

In other news, insider Jessica M. Hiebler sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $84.29, for a total transaction of $84,290.00. Following the sale, the insider now owns 8,461 shares in the company, valued at approximately $713,177.69. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider David Oestreicher sold 10,394 shares of the company’s stock in a transaction that occurred on Thursday, July 27th. The stock was sold at an average price of $83.07, for a total value of $863,429.58. Following the sale, the insider now owns 82,299 shares in the company, valued at approximately $6,836,577.93. The disclosure for this sale can be found here. In the last quarter, insiders have sold 19,720 shares of company stock worth $1,630,701. Company insiders own 3.60% of the company’s stock.

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Several equities analysts recently weighed in on the stock. UBS AG reaffirmed a “sell” rating and set a $63.00 price objective (up previously from $62.00) on shares of T. Rowe Price Group in a research report on Friday, July 14th. BidaskClub lowered shares of T. Rowe Price Group from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, August 1st. Wells Fargo & Company reaffirmed a “market perform” rating on shares of T. Rowe Price Group in a research report on Thursday, July 27th. ValuEngine raised shares of T. Rowe Price Group from a “hold” rating to a “buy” rating in a research report on Wednesday, August 2nd. Finally, Jefferies Group LLC reaffirmed a “buy” rating and set a $96.00 price objective on shares of T. Rowe Price Group in a research report on Sunday, August 20th. Four investment analysts have rated the stock with a sell rating, seven have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $81.30.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings data on Tuesday, July 25th. The asset manager reported $1.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.16 billion. During the same quarter in the prior year, the business posted $0.76 EPS. The business’s revenue was up 12.1% compared to the same quarter last year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 28th. Stockholders of record on Thursday, September 14th will be paid a dividend of $0.57 per share. 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 currently 39.18%.

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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