Epoch Investment Partners Inc. Sells 45,681 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Epoch Investment Partners Inc. reduced its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 7.9% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 529,280 shares of the asset manager’s stock after selling 45,681 shares during the quarter. Epoch Investment Partners Inc. owned about 0.23% of T. Rowe Price Group worth $104,782,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Natixis lifted its position in T. Rowe Price Group by 1,848.4% in the 2nd quarter. Natixis now owns 280,201 shares of the asset manager’s stock valued at $55,471,000 after acquiring an additional 265,820 shares in the last quarter. Covington Capital Management lifted its position in T. Rowe Price Group by 1.7% in the 2nd quarter. Covington Capital Management now owns 37,651 shares of the asset manager’s stock valued at $7,454,000 after acquiring an additional 645 shares in the last quarter. TrinityPoint Wealth LLC bought a new position in T. Rowe Price Group in the 2nd quarter valued at approximately $505,000. Toroso Investments LLC lifted its position in T. Rowe Price Group by 203.9% in the 2nd quarter. Toroso Investments LLC now owns 7,983 shares of the asset manager’s stock valued at $1,580,000 after acquiring an additional 5,356 shares in the last quarter. Finally, APG Asset Management N.V. lifted its position in T. Rowe Price Group by 7.9% in the 2nd quarter. APG Asset Management N.V. now owns 46,328 shares of the asset manager’s stock valued at $7,734,000 after acquiring an additional 3,400 shares in the last quarter. 71.04% of the stock is currently owned by institutional investors and hedge funds.

Shares of NASDAQ:TROW traded up $4.73 during midday trading on Thursday, hitting $196.07. The company had a trading volume of 15,873 shares, compared to its average volume of 1,052,447. The company has a market cap of $44.50 billion, a price-to-earnings ratio of 15.08, a PEG ratio of 1.86 and a beta of 1.18. T. Rowe Price Group, Inc. has a 12-month low of $124.94 and a 12-month high of $224.55. The company has a fifty day moving average of $210.58 and a two-hundred day moving average of $197.96.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings data on Thursday, July 29th. The asset manager reported $3.31 EPS for the quarter, topping the consensus estimate of $3.20 by $0.11. The firm had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.91 billion. T. Rowe Price Group had a return on equity of 35.82% and a net margin of 41.93%. On average, equities analysts expect that T. Rowe Price Group, Inc. will post 12.92 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 29th. Investors of record on Wednesday, September 15th were issued a $1.08 dividend. This represents a $4.32 annualized dividend and a yield of 2.20%. The ex-dividend date of this dividend was Tuesday, September 14th. T. Rowe Price Group’s dividend payout ratio is currently 45.09%.

In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 1,150 shares of the stock in a transaction dated Tuesday, August 3rd. The shares were sold at an average price of $207.70, for a total transaction of $238,855.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William J. Stromberg sold 8,000 shares of the stock in a transaction dated Thursday, August 5th. The shares were sold at an average price of $211.17, for a total transaction of $1,689,360.00. The disclosure for this sale can be found here. Insiders sold a total of 16,817 shares of company stock valued at $3,622,239 in the last ninety days. 1.00% of the stock is currently owned by insiders.

TROW has been the topic of several analyst reports. UBS Group upped their price objective on T. Rowe Price Group from $183.00 to $200.00 and gave the company a “neutral” rating in a research report on Thursday, July 8th. Morgan Stanley decreased their target price on shares of T. Rowe Price Group from $211.00 to $204.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 6th. boosted their target price on shares of T. Rowe Price Group from $137.00 to $145.00 and gave the company a “sell” rating in a research note on Monday, July 12th. Jefferies Financial Group initiated coverage on shares of T. Rowe Price Group in a research note on Friday, September 10th. They set a “buy” rating and a $245.00 target price for the company. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of T. Rowe Price Group from $171.00 to $185.00 and gave the company a “hold” rating in a research note on Monday, July 12th. They noted that the move was a valuation call. Four analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $183.43.

About T. Rowe Price Group

T. Rowe Price Group, Inc is a financial services holding company, which engages in the provision of investment management services through its subsidiaries. It provides an array of company sponsored U.S. 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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