Kayne Anderson Rudnick Investment Management LLC Sells 1,308 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Kayne Anderson Rudnick Investment Management LLC decreased its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 2.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 57,770 shares of the asset manager’s stock after selling 1,308 shares during the period. Kayne Anderson Rudnick Investment Management LLC’s holdings in T. Rowe Price Group were worth $6,661,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. Norges Bank bought a new position in T. Rowe Price Group during the 4th quarter valued at $80,831,000. Trexquant Investment LP bought a new position in shares of T. Rowe Price Group during the fourth quarter valued at about $671,000. US Bancorp DE boosted its holdings in T. Rowe Price Group by 2.2% during the fourth quarter. US Bancorp DE now owns 63,705 shares of the asset manager’s stock worth $6,860,000 after purchasing an additional 1,348 shares during the last quarter. FineMark National Bank & Trust grew its position in T. Rowe Price Group by 5.4% in the 4th quarter. FineMark National Bank & Trust now owns 2,049 shares of the asset manager’s stock worth $221,000 after purchasing an additional 105 shares in the last quarter. Finally, Advisory Services Network LLC increased its stake in T. Rowe Price Group by 1.4% in the 4th quarter. Advisory Services Network LLC now owns 20,021 shares of the asset manager’s stock valued at $2,156,000 after buying an additional 285 shares during the last quarter. 73.39% of the stock is owned by institutional investors.

Analyst Ratings Changes

TROW has been the subject of a number of research analyst reports. Barclays started 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 decreased 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 research report on Thursday, September 5th. Deutsche Bank Aktiengesellschaft lifted their target price on T. Rowe Price Group from $112.00 to $113.00 and gave the stock a “hold” rating in a research note on Thursday, August 15th. Keefe, Bruyette & Woods restated 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 research report 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 company. According to MarketBeat, T. Rowe Price Group currently has a consensus rating of “Hold” and a consensus price target 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 the firm’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $102.83, for a total value of $1,230,772.27. Following the sale, the vice president now owns 123,624 shares of the company’s stock, valued at approximately $12,712,255.92. 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 1,401 shares of T. Rowe Price Group stock in a transaction that occurred 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 transaction, the insider now directly owns 14,198 shares of the company’s stock, valued at $1,644,838.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the business’s stock in a transaction that occurred 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 owns 123,624 shares of the company’s stock, valued at $12,712,255.92. The disclosure for this sale can be found here. Over the last quarter, insiders sold 13,854 shares of company stock valued at $1,443,767. Company insiders own 2.00% of the company’s stock.

T. Rowe Price Group Stock Down 2.0 %

TROW stock opened at $108.29 on Monday. The stock has a 50-day simple moving average of $108.80 and a two-hundred day simple moving average of $113.25. T. Rowe Price Group, Inc. has a twelve month low of $87.43 and a twelve month high of $122.27. The firm has a market capitalization of $24.18 billion, a PE ratio of 12.86, a PEG ratio of 1.69 and a beta of 1.41.

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

T. Rowe Price Group Announces Dividend

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

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.