ASR Vermogensbeheer N.V. Trims Holdings in T. Rowe Price Group, Inc. $TROW

ASR Vermogensbeheer N.V. lessened its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 0.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 28,718 shares of the asset manager’s stock after selling 120 shares during the period. ASR Vermogensbeheer N.V.’s holdings in T. Rowe Price Group were worth $2,771,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of TROW. Invesco Ltd. increased its holdings in T. Rowe Price Group by 43.2% during the 1st quarter. Invesco Ltd. now owns 3,433,684 shares of the asset manager’s stock valued at $315,453,000 after purchasing an additional 1,035,865 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in T. Rowe Price Group by 7.2% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 7,706,251 shares of the asset manager’s stock valued at $707,973,000 after purchasing an additional 519,075 shares during the period. Vanguard Group Inc. increased its holdings in T. Rowe Price Group by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 26,286,393 shares of the asset manager’s stock valued at $2,414,931,000 after purchasing an additional 222,556 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its holdings in T. Rowe Price Group by 505.5% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 172,709 shares of the asset manager’s stock valued at $15,867,000 after purchasing an additional 144,187 shares during the period. Finally, American Century Companies Inc. boosted its position in T. Rowe Price Group by 4.9% during the 1st quarter. American Century Companies Inc. now owns 2,955,703 shares of the asset manager’s stock valued at $271,541,000 after acquiring an additional 138,515 shares in the last quarter. Hedge funds and other institutional investors own 73.39% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Wells Fargo & Company lifted their price objective on T. Rowe Price Group from $98.00 to $108.00 and gave the company an “equal weight” rating in a research report on Friday, July 11th. Morgan Stanley lifted their price objective on T. Rowe Price Group from $112.00 to $116.00 and gave the company an “equal weight” rating in a research report on Monday, August 4th. Zacks Research cut T. Rowe Price Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 8th. The Goldman Sachs Group lifted their price objective on T. Rowe Price Group from $91.00 to $92.00 and gave the company a “sell” rating in a research report on Friday. Finally, JPMorgan Chase & Co. lifted their price objective on T. Rowe Price Group from $98.00 to $102.00 and gave the company an “underweight” rating in a research report on Monday, August 4th. One investment analyst has rated the stock with a Buy rating, ten have given a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Reduce” and a consensus target price of $104.08.

Insider Transactions at T. Rowe Price Group

In related news, Director Robert F. Maclellan sold 3,090 shares of the company’s stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $105.01, for a total value of $324,480.90. Following the transaction, the director directly owned 47,335 shares of the company’s stock, valued at approximately $4,970,648.35. This represents a 6.13% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 2.00% of the company’s stock.

T. Rowe Price Group Stock Up 1.5%

Shares of TROW opened at $103.28 on Friday. The business’s 50 day moving average price is $105.71 and its 200-day moving average price is $98.06. T. Rowe Price Group, Inc. has a 52 week low of $77.85 and a 52 week high of $125.81. The stock has a market cap of $22.69 billion, a P/E ratio of 11.54, a P/E/G ratio of 2.62 and a beta of 1.50.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings data on Friday, August 1st. The asset manager reported $2.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.15 by $0.09. The business had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.72 billion. T. Rowe Price Group had a return on equity of 19.77% and a net margin of 28.72%.The firm’s quarterly revenue was down .6% on a year-over-year basis. During the same period in the prior year, the firm posted $2.26 EPS. On average, equities analysts anticipate that T. Rowe Price Group, Inc. will post 9.29 EPS for the current year.

T. Rowe Price Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Monday, September 15th were given a $1.27 dividend. The ex-dividend date of this dividend was Monday, September 15th. This represents a $5.08 annualized dividend and a yield of 4.9%. T. Rowe Price Group’s dividend payout ratio is 56.76%.

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.