Hunter Associates Investment Management LLC Has $10.16 Million Position in T. Rowe Price Group, Inc. $TROW

Hunter Associates Investment Management LLC trimmed its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 5.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 105,248 shares of the asset manager’s stock after selling 5,771 shares during the quarter. T. Rowe Price Group comprises about 1.5% of Hunter Associates Investment Management LLC’s portfolio, making the stock its 14th biggest position. Hunter Associates Investment Management LLC’s holdings in T. Rowe Price Group were worth $10,156,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TROW. Invesco Ltd. lifted its stake in shares of T. Rowe Price Group by 43.2% in 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 stake in shares of T. Rowe Price Group by 7.2% in 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 acquiring an additional 519,075 shares in the last quarter. ARGA Investment Management LP increased its stake in shares of T. Rowe Price Group by 3,807.3% in the 2nd quarter. ARGA Investment Management LP now owns 477,161 shares of the asset manager’s stock valued at $46,046,000 after acquiring an additional 464,949 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of T. Rowe Price Group in the 2nd quarter valued at $37,722,000. Finally, Vanguard Group Inc. increased its stake in shares of T. Rowe Price Group by 0.9% in 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 acquiring an additional 222,556 shares in the last quarter. 73.39% of the stock is owned by institutional investors and hedge funds.

T. Rowe Price Group Price Performance

TROW opened at $102.53 on Monday. The company has a market capitalization of $22.53 billion, a price-to-earnings ratio of 11.46, a P/E/G ratio of 5.61 and a beta of 1.50. The firm’s fifty day moving average price is $105.08 and its two-hundred day moving average price is $100.32. T. Rowe Price Group, Inc. has a 1 year low of $77.85 and a 1 year high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings data on Friday, October 31st. The asset manager reported $2.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.55 by $0.26. The firm had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.88 billion. T. Rowe Price Group had a net margin of 28.72% and a return on equity of 19.77%. The business’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.57 EPS. As a group, equities analysts anticipate that T. Rowe Price Group, Inc. will post 9.29 EPS for the current year.

T. Rowe Price Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Monday, December 15th will be issued a dividend of $1.27 per share. This represents a $5.08 dividend on an annualized basis and a yield of 5.0%. The ex-dividend date of this dividend is Monday, December 15th. T. Rowe Price Group’s payout ratio is currently 56.76%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on TROW shares. Bank of America lifted their price objective on shares of T. Rowe Price Group from $91.00 to $97.00 and gave the company an “underperform” rating in a research note on Thursday, October 2nd. The Goldman Sachs Group upped their price target on T. Rowe Price Group from $91.00 to $92.00 and gave the stock a “sell” rating in a research note on Friday, October 3rd. Barclays upped their price target on T. Rowe Price Group from $95.00 to $103.00 and gave the stock an “underweight” rating in a research note on Tuesday, October 21st. Keefe, Bruyette & Woods upped their price target on T. Rowe Price Group from $112.00 to $115.00 and gave the stock a “hold” rating in a research note on Monday, October 13th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of T. Rowe Price Group in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Reduce” and an average target price of $107.62.

Insider Transactions at T. Rowe Price Group

In other T. Rowe Price Group news, Director Robert F. Maclellan sold 3,090 shares of T. Rowe Price Group stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $105.01, for a total transaction of $324,480.90. Following the transaction, the director directly owned 47,335 shares of the company’s stock, valued at $4,970,648.35. The trade was a 6.13% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.00% of the stock is owned by corporate insiders.

About T. Rowe Price Group

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.