Fiduciary Trust Co. Has $718,000 Holdings in T. Rowe Price Group, Inc. (TROW)

Fiduciary Trust Co. reduced its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 14.2% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,670 shares of the asset manager’s stock after selling 1,598 shares during the quarter. Fiduciary Trust Co.’s holdings in T. Rowe Price Group were worth $718,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of TROW. Nationwide Fund Advisors grew its holdings in T. Rowe Price Group by 4.4% in the 1st quarter. Nationwide Fund Advisors now owns 116,426 shares of the asset manager’s stock valued at $7,934,000 after buying an additional 4,867 shares in the last quarter. Profund Advisors LLC grew its holdings in T. Rowe Price Group by 5.1% in the 1st quarter. Profund Advisors LLC now owns 7,904 shares of the asset manager’s stock valued at $539,000 after buying an additional 383 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in T. Rowe Price Group by 11.2% in the 1st quarter. Russell Investments Group Ltd. now owns 40,642 shares of the asset manager’s stock valued at $2,771,000 after buying an additional 4,086 shares in the last quarter. Honeywell International Inc. purchased a new position in shares of T. Rowe Price Group during the 1st quarter worth $8,382,000. Finally, Schaper Benz & Wise Investment Counsel Inc. WI grew its holdings in shares of T. Rowe Price Group by 4.9% during the 1st quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 124,086 shares of the asset manager’s stock worth $8,456,000 after purchasing an additional 5,745 shares during the period. Institutional investors own 73.62% of the company’s stock.

In other news, insider David Oestreicher sold 10,394 shares of the firm’s stock in a transaction dated Thursday, July 27th. The stock was sold at an average price of $83.07, for a total value of $863,429.58. Following the sale, the insider now directly owns 82,299 shares of the company’s stock, valued at $6,836,577.93. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Anne M. Whittemore sold 8,326 shares of the firm’s stock in a transaction dated Thursday, July 27th. The shares were sold at an average price of $82.03, for a total value of $682,981.78. Following the completion of the sale, the director now directly owns 28,982 shares in the company, valued at $2,377,393.46. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 19,720 shares of company stock worth $1,630,701. 3.60% of the stock is currently owned by company insiders.

Shares of T. Rowe Price Group, Inc. (NASDAQ TROW) opened at 86.69 on Friday. The stock’s 50 day moving average price is $83.46 and its 200 day moving average price is $75.43. T. Rowe Price Group, Inc. has a 12 month low of $62.97 and a 12 month high of $86.77. The firm has a market cap of $20.84 billion, a price-to-earnings ratio of 14.88 and a beta of 1.24.

T. Rowe Price Group (NASDAQ:TROW) last posted its earnings results on Tuesday, July 25th. The asset manager reported $1.28 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.27 by $0.01. The firm had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.16 billion. T. Rowe Price Group had a net margin of 32.64% and a return on equity of 24.38%. The business’s quarterly revenue was up 12.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.76 earnings per share. Equities research analysts predict that T. Rowe Price Group, Inc. will post $5.65 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 28th. Stockholders of record on Thursday, September 14th will be given a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 2.63%. The ex-dividend date of this dividend is Wednesday, September 13th. T. Rowe Price Group’s dividend payout ratio is currently 39.18%.

TROW has been the subject of a number of research analyst reports. Morgan Stanley reiterated an “underweight” rating and set a $70.00 price target (up from $64.00) on shares of T. Rowe Price Group in a report on Monday, July 10th. Jefferies Group LLC set a $83.00 price target on T. Rowe Price Group and gave the stock a “buy” rating in a report on Tuesday, June 20th. Credit Suisse Group increased their price target on T. Rowe Price Group from $70.00 to $90.00 and gave the stock a “neutral” rating in a report on Wednesday, July 26th. Citigroup Inc. increased their price target on T. Rowe Price Group from $73.50 to $90.00 and gave the stock a “neutral” rating in a report on Wednesday, July 26th. Finally, ValuEngine lowered T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Four investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $81.30.

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T. Rowe Price Group Company Profile

T. Rowe Price Group, Inc is a financial services holding company. The Company provides global investment management services through its subsidiaries to investors across the world. The Company provides an array of Company sponsored the United States mutual funds, other sponsored pooled investment vehicles, sub advisory services, separate account management, recordkeeping, and related services to individuals, advisors, institutions, financial intermediaries and retirement plan sponsors.

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

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