DekaBank Deutsche Girozentrale Has $13.70 Million Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

DekaBank Deutsche Girozentrale lifted its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 18.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 119,032 shares of the asset manager’s stock after purchasing an additional 18,949 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in T. Rowe Price Group were worth $13,697,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Meeder Asset Management Inc. raised its holdings in shares of T. Rowe Price Group by 2,774.2% during the second quarter. Meeder Asset Management Inc. now owns 2,558 shares of the asset manager’s stock worth $295,000 after acquiring an additional 2,469 shares during the period. Oppenheimer & Co. Inc. lifted its stake in T. Rowe Price Group by 4.1% in the 2nd quarter. Oppenheimer & Co. Inc. now owns 68,158 shares of the asset manager’s stock valued at $7,859,000 after acquiring an additional 2,668 shares in the last quarter. Main Street Financial Solutions LLC boosted its position in T. Rowe Price Group by 4.0% during the 2nd quarter. Main Street Financial Solutions LLC now owns 3,552 shares of the asset manager’s stock worth $410,000 after acquiring an additional 137 shares during the last quarter. Vest Financial LLC boosted its position in T. Rowe Price Group by 18.6% during the 2nd quarter. Vest Financial LLC now owns 391,623 shares of the asset manager’s stock worth $45,158,000 after acquiring an additional 61,509 shares during the last quarter. Finally, Private Wealth Partners LLC raised its holdings in shares of T. Rowe Price Group by 3.1% in the second quarter. Private Wealth Partners LLC now owns 3,300 shares of the asset manager’s stock valued at $381,000 after purchasing an additional 100 shares during the last quarter. 73.39% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently commented on TROW shares. Wells Fargo & Company began coverage on shares of T. Rowe Price Group in a report on Thursday. They set an “equal weight” rating and a $109.00 target price for the company. Barclays assumed coverage on T. Rowe Price Group in a research report on Tuesday, August 27th. They set an “underweight” rating and a $99.00 price target for the company. Evercore ISI lowered their price target on T. Rowe Price Group from $115.00 to $108.00 and set an “in-line” rating on the stock in a research report on Thursday, September 5th. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $120.00 target price (down from $121.00) on shares of T. Rowe Price Group in a research note on Monday, July 29th. Finally, StockNews.com lowered shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Three equities research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $113.30.

Insider Activity at T. Rowe Price Group

In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of T. Rowe Price Group stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $102.83, for a total value of $1,230,772.27. Following the completion of the sale, the vice president now owns 123,624 shares in the company, valued at approximately $12,712,255.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of T. Rowe Price Group stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $102.83, for a total value of $1,230,772.27. Following the completion of the sale, the vice president now directly owns 123,624 shares in the company, valued at $12,712,255.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Dorothy C. Sawyer sold 2,000 shares of the stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $117.00, for a total value of $234,000.00. Following the sale, the vice president now directly owns 34,710 shares in the company, valued at approximately $4,061,070. The disclosure for this sale can be found here. Over the last three months, insiders have sold 15,370 shares of company stock worth $1,627,078. Corporate insiders own 2.00% of the company’s stock.

T. Rowe Price Group Stock Performance

Shares of TROW opened at $104.56 on Monday. The firm’s 50-day simple moving average is $109.60 and its 200 day simple moving average is $113.51. The firm has a market cap of $23.28 billion, a P/E ratio of 12.42, a price-to-earnings-growth ratio of 1.67 and a beta of 1.41. T. Rowe Price Group, Inc. has a 52 week low of $87.43 and a 52 week high of $122.27.

T. Rowe Price Group (NASDAQ:TROW) last announced its earnings results on Friday, July 26th. The asset manager reported $2.26 earnings per share for the quarter, missing analysts’ consensus estimates of $2.27 by ($0.01). The firm had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.79 billion. T. Rowe Price Group had a return on equity of 19.90% and a net margin of 28.66%. T. Rowe Price Group’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same quarter last year, the business posted $2.02 EPS. As a group, equities 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 firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be given a $1.24 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 4.74%. T. Rowe Price Group’s payout ratio is presently 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.