T. Rowe Price Group, Inc. $TROW Holdings Raised by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 20.0% during the second quarter, Holdings Channel.com reports. The firm owned 3,150,561 shares of the asset manager’s stock after acquiring an additional 524,544 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in T. Rowe Price Group were worth $358,187,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of TROW. BlackRock Inc. acquired a new position in T. Rowe Price Group during the 2nd quarter valued at about $2,728,119,000. State Street Corp boosted its holdings in shares of T. Rowe Price Group by 0.3% in the fourth quarter. State Street Corp now owns 14,159,797 shares of the asset manager’s stock valued at $1,449,680,000 after acquiring an additional 45,530 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of T. Rowe Price Group by 332.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 8,770,071 shares of the asset manager’s stock valued at $897,880,000 after acquiring an additional 6,740,172 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of T. Rowe Price Group by 1.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 8,073,846 shares of the asset manager’s stock valued at $826,600,000 after acquiring an additional 143,109 shares during the period. Finally, First Trust Advisors LP raised its holdings in T. Rowe Price Group by 12.6% during the first quarter. First Trust Advisors LP now owns 3,694,171 shares of the asset manager’s stock worth $332,993,000 after purchasing an additional 413,317 shares in the last quarter. Institutional investors own 73.39% of the company’s stock.

Insider Activity at T. Rowe Price Group

In related news, VP Joshua B. Nelson sold 10,000 shares of the stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $111.82, for a total value of $1,118,200.00. Following the completion of the transaction, the vice president owned 71,328 shares in the company, valued at $7,975,896.96. This trade represents a 12.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.60% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

TROW has been the subject of a number of research reports. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $115.00 price target (down from $120.00) on shares of T. Rowe Price Group in a research note on Monday, August 3rd. Weiss Ratings raised T. Rowe Price Group from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, July 2nd. Barclays cut their price objective on T. Rowe Price Group from $108.00 to $103.00 and set an “underweight” rating for the company in a report on Monday, August 3rd. TD Cowen raised their target price on T. Rowe Price Group from $107.00 to $108.00 and gave the company a “hold” rating in a research note on Monday, August 3rd. Finally, The Goldman Sachs Group lifted their target price on T. Rowe Price Group from $90.00 to $92.00 and gave the stock a “sell” rating in a report on Tuesday, June 30th. Ten equities research analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat, T. Rowe Price Group presently has an average rating of “Reduce” and an average target price of $105.67.

T. Rowe Price Group Stock Performance

NASDAQ TROW opened at $111.24 on Monday. The stock has a market capitalization of $23.73 billion, a P/E ratio of 11.16, a P/E/G ratio of 3.68 and a beta of 1.47. T. Rowe Price Group, Inc. has a 1 year low of $85.22 and a 1 year high of $122.00. The business’s fifty day moving average is $114.35 and its two-hundred day moving average is $103.40.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings data on Friday, July 31st. The asset manager reported $2.57 EPS for the quarter, beating analysts’ consensus estimates of $2.52 by $0.05. The company had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.89 billion. T. Rowe Price Group had a return on equity of 20.91% and a net margin of 29.26%.The company’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.24 EPS. On average, research analysts forecast that T. Rowe Price Group, Inc. will post 10.15 earnings per share for the current year.

T. Rowe Price Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 15th will be issued a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 4.7%. The ex-dividend date of this dividend is Tuesday, September 15th. T. Rowe Price Group’s dividend payout ratio is currently 52.16%.

About T. Rowe Price Group

T. Rowe Price Group, Inc is a global investment management firm headquartered in Baltimore, Maryland, founded by Thomas Rowe Price Jr. in 1937. The company provides a broad range of investment products and services for individual investors, financial intermediaries, retirement plan sponsors and institutional clients. Its offerings are built around active investment management and in-house research across equity, fixed income and multi-asset strategies, reflecting a long history as a research-driven asset manager.

The firm’s product lineup includes mutual funds, separate accounts, collective investment trusts, target-date and target-risk funds, and managed account solutions, as well as services for defined contribution and defined benefit retirement plans.