Elo Mutual Pension Insurance Co Sells 804 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Elo Mutual Pension Insurance Co decreased its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 3.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 19,616 shares of the asset manager’s stock after selling 804 shares during the period. Elo Mutual Pension Insurance Co’s holdings in T. Rowe Price Group were worth $2,262,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in TROW. Confluence Investment Management LLC acquired a new stake in shares of T. Rowe Price Group in the 1st quarter worth about $130,386,000. Norges Bank purchased a new stake in shares of T. Rowe Price Group in the fourth quarter worth approximately $80,831,000. Hsbc Holdings PLC lifted its holdings in shares of T. Rowe Price Group by 66.8% in the fourth quarter. Hsbc Holdings PLC now owns 765,080 shares of the asset manager’s stock valued at $82,434,000 after purchasing an additional 306,524 shares in the last quarter. Los Angeles Capital Management LLC boosted its position in shares of T. Rowe Price Group by 492.3% during the first quarter. Los Angeles Capital Management LLC now owns 319,887 shares of the asset manager’s stock valued at $39,001,000 after buying an additional 265,881 shares during the last quarter. Finally, Bank of Nova Scotia grew its holdings in T. Rowe Price Group by 1,278.0% during the fourth quarter. Bank of Nova Scotia now owns 252,055 shares of the asset manager’s stock worth $27,143,000 after buying an additional 233,763 shares in the last quarter. 73.39% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have weighed in on TROW. Wells Fargo & Company assumed coverage on T. Rowe Price Group in a research note on Thursday, September 12th. They set an “equal weight” rating and a $109.00 price objective on the stock. JPMorgan Chase & Co. raised their price target on shares of T. Rowe Price Group from $102.00 to $107.00 and gave the company an “underweight” rating in a research report on Tuesday, July 23rd. Barclays began coverage on shares of T. Rowe Price Group in a research report on Tuesday, August 27th. They issued an “underweight” rating and a $99.00 price objective for the company. Keefe, Bruyette & Woods reissued 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 report on Monday, July 29th. Finally, Evercore ISI reduced their target price on T. Rowe Price Group from $115.00 to $108.00 and set an “in-line” rating for the company in a report on Thursday, September 5th. Three analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $113.30.

T. Rowe Price Group Trading Up 2.2 %

NASDAQ:TROW opened at $110.55 on Friday. T. Rowe Price Group, Inc. has a 12 month low of $87.43 and a 12 month high of $122.27. The firm’s 50 day moving average is $109.00 and its 200 day moving average is $113.36. The stock has a market capitalization of $24.61 billion, a PE ratio of 13.13, a price-to-earnings-growth ratio of 1.69 and a beta of 1.41.

T. Rowe Price Group (NASDAQ:TROW) last issued its earnings results 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 firm had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.79 billion. T. Rowe Price Group had a net margin of 28.66% and a return on equity of 19.90%. The business’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.02 earnings per share. Research analysts predict 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. Shareholders of record on Friday, September 13th will be given a dividend of $1.24 per share. The ex-dividend date is Friday, September 13th. This represents a $4.96 dividend on an annualized basis and a yield of 4.49%. T. Rowe Price Group’s dividend payout ratio is presently 58.91%.

Insider Transactions at T. Rowe Price Group

In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 1,401 shares of the firm’s stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $115.85, for a total value of $162,305.85. Following the sale, the insider now owns 14,198 shares of the company’s stock, valued at approximately $1,644,838.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 484 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $104.73, for a total value of $50,689.32. Following the completion of the transaction, the insider now owns 13,939 shares of the company’s stock, valued at approximately $1,459,831.47. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Jessica M. Hiebler sold 1,401 shares of the firm’s stock in a transaction on 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 owns 14,198 shares in the company, valued at approximately $1,644,838.30. The disclosure for this sale can be found here. Insiders sold 13,854 shares of company stock worth $1,443,767 over the last quarter. Corporate insiders own 2.00% of the company’s stock.

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.