DF Dent & Co. Inc. Reduces Holdings in T. Rowe Price Group, Inc. (TROW)

DF Dent & Co. Inc. lessened its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 2.4% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 151,720 shares of the asset manager’s stock after selling 3,700 shares during the quarter. DF Dent & Co. Inc. owned 0.06% of T. Rowe Price Group worth $11,259,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in TROW. BlackRock Inc. increased its stake in T. Rowe Price Group by 1,722.6% in the 1st quarter. BlackRock Inc. now owns 16,378,787 shares of the asset manager’s stock valued at $1,116,214,000 after buying an additional 15,480,155 shares during the period. Capital World Investors increased its stake in T. Rowe Price Group by 235.0% in the 2nd quarter. Capital World Investors now owns 10,512,236 shares of the asset manager’s stock valued at $780,113,000 after buying an additional 7,373,953 shares during the period. Massachusetts Financial Services Co. MA acquired a new position in T. Rowe Price Group in the 1st quarter valued at approximately $118,342,000. The Manufacturers Life Insurance Company increased its stake in T. Rowe Price Group by 526.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,774,796 shares of the asset manager’s stock valued at $131,707,000 after buying an additional 1,491,425 shares during the period. Finally, American Century Companies Inc. increased its stake in T. Rowe Price Group by 66.4% in the 2nd quarter. American Century Companies Inc. now owns 2,544,655 shares of the asset manager’s stock valued at $188,839,000 after buying an additional 1,015,518 shares during the period. Hedge funds and other institutional investors own 73.62% of the company’s stock.

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TROW has been the topic of several research reports. BidaskClub upgraded shares of T. Rowe Price Group from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, June 14th. Jefferies Group LLC set a $83.00 price objective on shares of T. Rowe Price Group and gave the company a “buy” rating in a research note on Tuesday, June 20th. Morgan Stanley reiterated an “underweight” rating and issued a $70.00 price objective (up previously from $64.00) on shares of T. Rowe Price Group in a research note on Monday, July 10th. UBS AG reiterated a “sell” rating and issued a $63.00 price objective (up previously from $62.00) on shares of T. Rowe Price Group in a research note on Friday, July 14th. Finally, Credit Suisse Group upped their price objective on shares of T. Rowe Price Group from $70.00 to $90.00 and gave the company a “neutral” rating in a research note on Wednesday, July 26th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Hold” and an average target price of $85.45.

Shares of T. Rowe Price Group, Inc. (TROW) traded up 0.02% on Tuesday, hitting $92.00. 321,256 shares of the stock traded hands. The firm’s 50 day moving average is $85.92 and its 200 day moving average is $77.34. T. Rowe Price Group, Inc. has a 52 week low of $62.97 and a 52 week high of $92.58. The firm has a market capitalization of $22.11 billion, a PE ratio of 15.80 and a beta of 1.25.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings data on Tuesday, July 25th. The asset manager reported $1.28 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.27 by $0.01. T. Rowe Price Group had a net margin of 32.64% and a return on equity of 24.38%. The company had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.16 billion. During the same period last year, the company earned $0.76 earnings per share. The firm’s revenue was up 12.1% compared to the same quarter last year. On average, analysts expect that T. Rowe Price Group, Inc. will post $5.72 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 28th. Stockholders of record on Thursday, September 14th were issued a $0.57 dividend. The ex-dividend date was Wednesday, September 13th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.48%. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 39.18%.

In other news, CFO Kenneth V. Moreland sold 13,041 shares of T. Rowe Price Group stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $90.43, for a total value of $1,179,297.63. Following the sale, the chief financial officer now directly owns 135,028 shares in the company, valued at $12,210,582.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jessica M. Hiebler sold 1,000 shares of T. Rowe Price Group stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $84.29, for a total transaction of $84,290.00. Following the completion of the sale, the insider now owns 8,461 shares in the company, valued at $713,177.69. The disclosure for this sale can be found here. Insiders sold 36,924 shares of company stock worth $3,187,333 over the last quarter. 3.60% of the stock is owned by corporate insiders.

T. Rowe Price Group Company Profile

T. Rowe Price Group, Inc is a financial services holding company. The Company provides global investment management services through its subsidiaries to investors across the world. The Company provides an array of Company sponsored the United States mutual funds, other sponsored pooled investment vehicles, sub advisory services, separate account management, recordkeeping, and related services to individuals, advisors, institutions, financial intermediaries and retirement plan sponsors.

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

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