United Services Automobile Association trimmed its position in shares of T. Rowe Price Group Inc (NASDAQ:TROW) by 63.1% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 44,601 shares of the asset manager’s stock after selling 76,401 shares during the quarter. United Services Automobile Association’s holdings in T. Rowe Price Group were worth $2,443,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. BlackRock Inc. boosted its position in T. Rowe Price Group by 2.2% during the second quarter. BlackRock Inc. now owns 17,346,810 shares of the asset manager’s stock worth $2,013,792,000 after purchasing an additional 368,297 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of T. Rowe Price Group by 0.3% in the second quarter. Massachusetts Financial Services Co. MA now owns 3,561,756 shares of the asset manager’s stock valued at $413,484,000 after acquiring an additional 10,433 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of T. Rowe Price Group by 0.4% in the second quarter. Bank of New York Mellon Corp now owns 2,116,400 shares of the asset manager’s stock valued at $245,692,000 after acquiring an additional 8,164 shares in the last quarter. Old Mutual Global Investors UK Ltd. lifted its position in shares of T. Rowe Price Group by 1,232.5% in the first quarter. Old Mutual Global Investors UK Ltd. now owns 2,023,988 shares of the asset manager’s stock valued at $218,529,000 after acquiring an additional 1,872,098 shares in the last quarter. Finally, Janus Henderson Group PLC lifted its position in shares of T. Rowe Price Group by 34.7% in the second quarter. Janus Henderson Group PLC now owns 1,797,932 shares of the asset manager’s stock valued at $208,722,000 after acquiring an additional 463,382 shares in the last quarter. Institutional investors own 70.32% of the company’s stock.

Several analysts have recently issued reports on the company. Deutsche Bank reduced their price objective on T. Rowe Price Group from $136.00 to $135.00 and set a “buy” rating on the stock in a research report on Thursday, August 16th. BidaskClub downgraded T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Tuesday, July 3rd. ValuEngine downgraded T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Wednesday, July 25th. Zacks Investment Research upgraded T. Rowe Price Group from a “hold” rating to a “buy” rating and set a $130.00 price objective on the stock in a research report on Monday, July 2nd. Finally, Wells Fargo & Co upped their price objective on T. Rowe Price Group from $114.00 to $124.00 and gave the company a “market perform” rating in a research report on Friday, July 13th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $118.27.

In related news, Director Freeman A. Hrabowski III sold 4,500 shares of the company’s stock in a transaction on Thursday, July 26th. The stock was sold at an average price of $121.74, for a total value of $547,830.00. Following the completion of the transaction, the director now directly owns 9,640 shares in the company, valued at $1,173,573.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP W. Sharps Robert sold 36,000 shares of the company’s stock in a transaction on Tuesday, June 12th. The shares were sold at an average price of $126.34, for a total value of $4,548,240.00. Following the completion of the transaction, the vice president now owns 487,917 shares of the company’s stock, valued at $61,643,433.78. The disclosure for this sale can be found here. Insiders sold 143,139 shares of company stock valued at $17,756,528 over the last quarter. Insiders own 3.10% of the company’s stock.

T. Rowe Price Group stock opened at $113.26 on Friday. The firm has a market capitalization of $27.85 billion, a P/E ratio of 20.86, a price-to-earnings-growth ratio of 1.43 and a beta of 1.18. T. Rowe Price Group Inc has a 52 week low of $81.61 and a 52 week high of $127.43.

T. Rowe Price Group (NASDAQ:TROW) last released its earnings results on Wednesday, July 25th. The asset manager reported $1.87 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.76 by $0.11. The firm had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.33 billion. T. Rowe Price Group had a return on equity of 28.49% and a net margin of 31.67%. The business’s quarterly revenue was up 13.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.28 earnings per share. equities analysts predict that T. Rowe Price Group Inc will post 7.23 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 28th. Investors of record on Friday, September 14th will be paid a $0.70 dividend. The ex-dividend date of this dividend is Thursday, September 13th. This represents a $2.80 annualized dividend and a yield of 2.47%. T. Rowe Price Group’s payout ratio is currently 51.57%.

T. Rowe Price Group Profile

T. Rowe Price Group, Inc is a publicly owned investment manager. The firm provides its services to individuals, institutional investors, retirement plans, financial intermediaries, and institutions. It launches and manages equity and fixed income mutual funds. The firm invests in the public equity and fixed income markets across the globe.

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

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