T. Rowe Price Group, Inc. (NASDAQ:TROW) Holdings Decreased by Benjamin Edwards Inc.

Benjamin Edwards Inc. cut its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 61.6% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 856 shares of the asset manager’s stock after selling 1,374 shares during the period. Benjamin Edwards Inc.’s holdings in T. Rowe Price Group were worth $99,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the business. Victory Capital Management Inc. lifted its position in shares of T. Rowe Price Group by 3.8% in the 2nd quarter. Victory Capital Management Inc. now owns 3,436,019 shares of the asset manager’s stock worth $396,207,000 after buying an additional 124,686 shares during the last quarter. American Century Companies Inc. raised its stake in T. Rowe Price Group by 4.5% during the second quarter. American Century Companies Inc. now owns 2,512,793 shares of the asset manager’s stock worth $289,750,000 after acquiring an additional 107,086 shares during the period. Fisher Asset Management LLC lifted its holdings in T. Rowe Price Group by 6.6% in the fourth quarter. Fisher Asset Management LLC now owns 1,751,405 shares of the asset manager’s stock worth $188,609,000 after acquiring an additional 109,053 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in T. Rowe Price Group by 15.8% in the second quarter. Dimensional Fund Advisors LP now owns 1,611,307 shares of the asset manager’s stock valued at $185,810,000 after acquiring an additional 220,105 shares during the period. Finally, First Trust Advisors LP grew its holdings in shares of T. Rowe Price Group by 1.3% during the fourth quarter. First Trust Advisors LP now owns 1,173,858 shares of the asset manager’s stock valued at $126,413,000 after purchasing an additional 15,504 shares during the last quarter. Institutional investors and hedge funds own 73.39% of the company’s stock.

Insider Activity

In related news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the business’s 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 sale, the vice president now directly owns 123,624 shares in the company, valued at approximately $12,712,255.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $102.83, for a total transaction of $1,230,772.27. Following the completion of the sale, the vice president now directly owns 123,624 shares of the company’s stock, valued at approximately $12,712,255.92. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Jessica M. Hiebler sold 484 shares of the business’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $104.73, for a total value of $50,689.32. Following the sale, the insider now directly owns 13,939 shares in the company, valued at $1,459,831.47. The disclosure for this sale can be found here. In the last quarter, insiders sold 13,854 shares of company stock worth $1,443,767. Corporate insiders own 2.00% of the company’s stock.

T. Rowe Price Group Price Performance

Shares of NASDAQ:TROW opened at $108.29 on Monday. The stock has a market cap of $24.18 billion, a price-to-earnings ratio of 12.86, a PEG ratio of 1.69 and a beta of 1.41. T. Rowe Price Group, Inc. has a 12 month low of $87.43 and a 12 month high of $122.27. The stock’s 50 day moving average price is $108.80 and its 200 day moving average price is $113.25.

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

T. Rowe Price Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be issued a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a yield of 4.58%. The ex-dividend date of this dividend is Friday, September 13th. T. Rowe Price Group’s payout ratio is 58.91%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on TROW shares. Deutsche Bank Aktiengesellschaft raised 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. JPMorgan Chase & Co. upped their price target on shares of T. Rowe Price Group from $102.00 to $107.00 and gave the stock an “underweight” rating in a research report on Tuesday, July 23rd. Evercore ISI cut their price objective on shares of 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. Barclays initiated 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 target price for the company. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $120.00 price target (down previously from $121.00) on shares of T. Rowe Price Group in a report on Monday, July 29th. Three equities research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $113.30.

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.