BB&T Securities LLC increased its stake in shares of T. Rowe Price Group Inc (NASDAQ:TROW) by 2.6% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 35,801 shares of the asset manager’s stock after buying an additional 915 shares during the period. BB&T Securities LLC’s holdings in T. Rowe Price Group were worth $4,155,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Signaturefd LLC bought a new stake in shares of T. Rowe Price Group during the 1st quarter worth about $111,000. Perigon Wealth Management LLC boosted its holdings in T. Rowe Price Group by 57.5% in the 1st quarter. Perigon Wealth Management LLC now owns 1,284 shares of the asset manager’s stock valued at $139,000 after purchasing an additional 469 shares during the period. Signature Estate & Investment Advisors LLC bought a new stake in T. Rowe Price Group in the 2nd quarter valued at about $151,000. Parallel Advisors LLC boosted its holdings in T. Rowe Price Group by 169.1% in the 2nd quarter. Parallel Advisors LLC now owns 1,448 shares of the asset manager’s stock valued at $168,000 after purchasing an additional 910 shares during the period. Finally, Transamerica Financial Advisors Inc. bought a new stake in T. Rowe Price Group in the 2nd quarter valued at about $190,000. 70.32% of the stock is owned by institutional investors and hedge funds.

A number of analysts have issued reports on the stock. BidaskClub downgraded shares of T. Rowe Price Group from a “sell” rating to a “strong sell” rating in a report on Saturday, September 1st. UBS Group cut their price objective on shares of T. Rowe Price Group from $125.00 to $117.00 and set a “neutral” rating for the company in a report on Thursday, May 24th. Wells Fargo & Co boosted their price objective on shares of T. Rowe Price Group from $114.00 to $124.00 and gave the company a “market perform” rating in a report on Friday, July 13th. Jefferies Financial Group raised shares of T. Rowe Price Group from a “neutral” rating to a “hold” rating in a report on Thursday, May 17th. Finally, Zacks Investment Research downgraded shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Sunday, July 15th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $118.27.

In other news, Director Freeman A. Hrabowski III sold 4,500 shares of the company’s stock in a transaction that occurred on Thursday, July 26th. The shares were sold at an average price of $121.74, for a total transaction of $547,830.00. Following the completion of the sale, the director now owns 9,640 shares of the company’s stock, valued at approximately $1,173,573.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Christopher D. Alderson sold 41,639 shares of the company’s stock in a transaction that occurred on Thursday, July 26th. The stock was sold at an average price of $121.89, for a total transaction of $5,075,377.71. Following the sale, the vice president now directly owns 114,860 shares of the company’s stock, valued at approximately $14,000,285.40. The disclosure for this sale can be found here. Corporate insiders own 3.10% of the company’s stock.

Shares of T. Rowe Price Group stock opened at $110.13 on Thursday. T. Rowe Price Group Inc has a 1-year low of $82.82 and a 1-year high of $127.43. The company has a market cap of $26.20 billion, a PE ratio of 20.28, a PEG ratio of 1.35 and a beta of 1.18.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings results on Wednesday, July 25th. The asset manager reported $1.87 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.76 by $0.11. T. Rowe Price Group had a net margin of 31.67% and a return on equity of 28.49%. The company had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.33 billion. During the same quarter in the prior year, the firm posted $1.28 EPS. The firm’s quarterly revenue was up 13.4% on a year-over-year basis. research analysts forecast that T. Rowe Price Group Inc will post 7.23 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 28th. Stockholders of record on Friday, September 14th will be issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.54%. The ex-dividend date of this dividend is Thursday, September 13th. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 51.57%.

T. Rowe Price Group Company 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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