T. Rowe Price Group, Inc. (NASDAQ:TROW) Shares Sold by Pinnacle Associates Ltd.

Pinnacle Associates Ltd. lowered its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 1.5% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 15,445 shares of the asset manager’s stock after selling 234 shares during the quarter. Pinnacle Associates Ltd.’s holdings in T. Rowe Price Group were worth $1,781,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Fisher Asset Management LLC grew its stake in T. Rowe Price Group by 6.6% in the 4th quarter. Fisher Asset Management LLC now owns 1,751,405 shares of the asset manager’s stock valued at $188,609,000 after acquiring an additional 109,053 shares during the period. Dimensional Fund Advisors LP boosted its stake in T. Rowe Price Group by 21.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,352,683 shares of the asset manager’s stock worth $145,685,000 after purchasing an additional 236,697 shares during the last quarter. First Trust Advisors LP boosted its stake in T. Rowe Price Group by 1.3% during the 4th quarter. First Trust Advisors LP now owns 1,173,858 shares of the asset manager’s stock worth $126,413,000 after purchasing an additional 15,504 shares during the last quarter. Confluence Investment Management LLC acquired a new stake in T. Rowe Price Group during the 1st quarter worth $130,386,000. Finally, UBS Group AG boosted its stake in T. Rowe Price Group by 473.3% during the 4th quarter. UBS Group AG now owns 975,226 shares of the asset manager’s stock worth $105,022,000 after purchasing an additional 805,106 shares during the last quarter. Institutional investors and hedge funds own 73.39% of the company’s stock.

Insider Activity at T. Rowe Price Group

In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 1,401 shares of the business’s stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $115.85, for a total transaction of $162,305.85. Following the sale, the insider now directly owns 14,198 shares in the company, valued at $1,644,838.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 1,401 shares of the business’s stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $115.85, for a total transaction of $162,305.85. Following the sale, the insider now directly owns 14,198 shares in the company, valued at $1,644,838.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Dorothy C. Sawyer sold 2,000 shares of the business’s stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $117.00, for a total transaction of $234,000.00. Following the sale, the vice president now owns 34,710 shares in the company, valued at $4,061,070. The disclosure for this sale can be found here. 2.00% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on TROW shares. JPMorgan Chase & Co. lifted their target price on shares of T. Rowe Price Group from $102.00 to $107.00 and gave the stock an “underweight” rating in a research note on Tuesday, July 23rd. Barclays started coverage on shares of T. Rowe Price Group in a research note on Tuesday, August 27th. They set an “underweight” rating and a $99.00 target price on the stock. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $120.00 target price (down previously from $121.00) on shares of T. Rowe Price Group in a research note on Monday, July 29th. StockNews.com cut shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on T. Rowe Price Group from $112.00 to $113.00 and gave the stock a “hold” rating in a report on Thursday, August 15th. Four investment analysts have rated the stock with a sell rating and seven have given a hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $113.10.

T. Rowe Price Group Trading Up 1.0 %

Shares of TROW opened at $106.04 on Friday. The firm has a market cap of $23.60 billion, a P/E ratio of 12.59, a price-to-earnings-growth ratio of 1.69 and a beta of 1.42. T. Rowe Price Group, Inc. has a 12-month low of $87.43 and a 12-month high of $122.27. The company’s 50-day moving average price is $111.93 and its 200 day moving average price is $113.80.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings data on Friday, July 26th. The asset manager reported $2.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.27 by ($0.01). The company had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.79 billion. T. Rowe Price Group had a net margin of 28.66% and a return on equity of 19.90%. The firm’s quarterly revenue was up 7.6% on a year-over-year basis. During the same quarter last year, the firm posted $2.02 earnings per share. Equities research analysts forecast that T. Rowe Price Group, Inc. will post 9 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be issued a $1.24 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $4.96 annualized dividend and a yield of 4.68%. T. Rowe Price Group’s dividend payout ratio (DPR) is currently 58.91%.

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.