T. Rowe Price Group Inc (TROW) Shares Sold by HPM Partners LLC

HPM Partners LLC lessened its position in T. Rowe Price Group Inc (NASDAQ:TROW) by 5.7% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 29,289 shares of the asset manager’s stock after selling 1,772 shares during the quarter. HPM Partners LLC’s holdings in T. Rowe Price Group were worth $3,400,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of TROW. Old Mutual Global Investors UK Ltd. increased its position in T. Rowe Price Group by 1,232.5% during the 1st quarter. Old Mutual Global Investors UK Ltd. now owns 2,023,988 shares of the asset manager’s stock valued at $218,529,000 after buying an additional 1,872,098 shares in the last quarter. Janus Henderson Group PLC increased its position in T. Rowe Price Group by 34.7% during the 2nd quarter. Janus Henderson Group PLC now owns 1,797,932 shares of the asset manager’s stock valued at $208,722,000 after buying an additional 463,382 shares in the last quarter. AGF Investments Inc. increased its position in T. Rowe Price Group by 131.4% during the 2nd quarter. AGF Investments Inc. now owns 775,010 shares of the asset manager’s stock valued at $89,971,000 after buying an additional 440,157 shares in the last quarter. BlackRock Inc. increased its position in T. Rowe Price Group by 2.2% during the 2nd quarter. BlackRock Inc. now owns 17,346,810 shares of the asset manager’s stock valued at $2,013,792,000 after buying an additional 368,297 shares in the last quarter. Finally, Bank of America Corp DE increased its position in T. Rowe Price Group by 10.2% during the 2nd quarter. Bank of America Corp DE now owns 2,545,305 shares of the asset manager’s stock valued at $295,485,000 after buying an additional 236,487 shares in the last quarter. 70.32% of the stock is owned by institutional investors.

A number of research analysts recently weighed in on TROW shares. Deutsche Bank reduced their price objective on T. Rowe Price Group from $136.00 to $135.00 and set a “buy” rating for the company in a research report on Thursday, August 16th. BidaskClub lowered T. Rowe Price Group from a “hold” rating to a “sell” rating in a report on Saturday, August 18th. Wells Fargo & Co lifted their target price on T. Rowe Price Group from $114.00 to $124.00 and gave the stock a “market perform” rating in a report on Friday, July 13th. Zacks Investment Research lowered T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Friday, August 10th. Finally, Morgan Stanley lifted their target price on T. Rowe Price Group from $114.00 to $116.00 and gave the stock an “equal weight” rating in a report on Thursday, July 12th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company’s stock. T. Rowe Price Group presently has an average rating of “Hold” and an average price target of $118.27.

In other news, VP Christopher D. Alderson sold 41,639 shares of the firm’s stock in a transaction on Thursday, July 26th. The stock was sold at an average price of $121.89, for a total value of $5,075,377.71. Following the transaction, the vice president now directly owns 114,860 shares in the company, valued at approximately $14,000,285.40. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Freeman A. Hrabowski III sold 4,500 shares of the firm’s stock in a transaction on Thursday, July 26th. The stock was sold at an average price of $121.74, for a total value of $547,830.00. Following the completion of the transaction, the director now owns 9,640 shares in the company, valued at $1,173,573.60. The disclosure for this sale can be found here. Company insiders own 3.10% of the company’s stock.

T. Rowe Price Group stock opened at $110.37 on Friday. The firm has a market capitalization of $26.78 billion, a price-to-earnings ratio of 20.33, a price-to-earnings-growth ratio of 1.38 and a beta of 1.18. T. Rowe Price Group Inc has a 12 month low of $83.90 and a 12 month high of $127.43.

T. Rowe Price Group (NASDAQ:TROW) last posted its earnings results on Wednesday, July 25th. The asset manager reported $1.87 EPS for the quarter, topping the Zacks’ consensus estimate of $1.76 by $0.11. The business had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.33 billion. T. Rowe Price Group had a return on equity of 28.49% and a net margin of 31.67%. The company’s quarterly revenue was up 13.4% compared to the same quarter last year. During the same quarter last year, the company earned $1.28 EPS. sell-side analysts expect that T. Rowe Price Group Inc will post 7.25 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 28th. Shareholders of record on Friday, September 14th will be issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.54%. The ex-dividend date is Thursday, September 13th. T. Rowe Price Group’s payout ratio is 51.57%.

T. Rowe Price Group 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.

Further Reading: How to Calculate Compound Annual Growth Rate (CAGR)

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Institutional Ownership by Quarter for T. Rowe Price Group (NASDAQ:TROW)

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