T. Rowe Price Group, Inc. (NASDAQ:TROW) Stake Cut by Kestra Private Wealth Services LLC

Kestra Private Wealth Services LLC decreased its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROWGet Rating) by 40.6% in the 1st quarter, Holdings Channel reports. The firm owned 5,030 shares of the asset manager’s stock after selling 3,442 shares during the quarter. Kestra Private Wealth Services LLC’s holdings in T. Rowe Price Group were worth $760,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently modified their holdings of TROW. Vanguard Group Inc. grew its position in shares of T. Rowe Price Group by 3.2% during the 1st quarter. Vanguard Group Inc. now owns 20,183,563 shares of the asset manager’s stock valued at $3,051,553,000 after buying an additional 625,340 shares during the last quarter. BlackRock Inc. boosted its stake in T. Rowe Price Group by 4.8% in the first quarter. BlackRock Inc. now owns 19,713,986 shares of the asset manager’s stock valued at $2,980,558,000 after acquiring an additional 904,707 shares during the period. State Street Corp grew its holdings in shares of T. Rowe Price Group by 2.0% during the first quarter. State Street Corp now owns 12,340,755 shares of the asset manager’s stock valued at $1,865,799,000 after purchasing an additional 237,127 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of T. Rowe Price Group by 10.5% during the 1st quarter. JPMorgan Chase & Co. now owns 9,442,430 shares of the asset manager’s stock worth $1,427,600,000 after purchasing an additional 900,933 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in shares of T. Rowe Price Group by 2.2% in the 4th quarter. Geode Capital Management LLC now owns 4,712,847 shares of the asset manager’s stock worth $924,658,000 after purchasing an additional 101,912 shares during the last quarter. 74.94% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently commented on TROW. BMO Capital Markets lowered their price objective on T. Rowe Price Group from $135.00 to $115.00 in a research note on Monday, August 1st. Morgan Stanley dropped their price objective on shares of T. Rowe Price Group from $124.00 to $123.00 and set an “equal weight” rating on the stock in a report on Friday, July 29th. TheStreet cut shares of T. Rowe Price Group from a “b-” rating to a “c” rating in a research report on Wednesday, July 13th. UBS Group dropped their price target on shares of T. Rowe Price Group from $88.00 to $84.00 and set a “sell” rating on the stock in a research note on Friday, July 29th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on T. Rowe Price Group from $120.00 to $138.00 and gave the stock a “hold” rating in a research report on Friday, August 12th. Five equities research analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $132.30.

T. Rowe Price Group Stock Performance

Shares of NASDAQ TROW opened at $110.13 on Monday. T. Rowe Price Group, Inc. has a 1 year low of $104.72 and a 1 year high of $223.36. The firm has a market cap of $24.86 billion, a P/E ratio of 10.63, a PEG ratio of 2.26 and a beta of 1.29. The stock has a fifty day moving average price of $121.64 and a two-hundred day moving average price of $127.36.

T. Rowe Price Group (NASDAQ:TROWGet Rating) last announced its quarterly earnings data on Thursday, July 28th. The asset manager reported $1.79 earnings per share for the quarter, missing the consensus estimate of $2.64 by ($0.85). The firm had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.68 billion. T. Rowe Price Group had a net margin of 33.26% and a return on equity of 28.18%. The company’s quarterly revenue was down 20.4% compared to the same quarter last year. During the same quarter last year, the company earned $3.31 EPS. On average, research analysts predict that T. Rowe Price Group, Inc. will post 8.24 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 29th. Stockholders of record on Thursday, September 15th will be given a dividend of $1.20 per share. The ex-dividend date of this dividend is Wednesday, September 14th. This represents a $4.80 annualized dividend and a dividend yield of 4.36%. T. Rowe Price Group’s dividend payout ratio (DPR) is 46.33%.

Insider Transactions at T. Rowe Price Group

In related news, insider Jessica M. Hiebler sold 959 shares of the stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of $124.57, for a total transaction of $119,462.63. Following the completion of the sale, the insider now directly owns 12,183 shares of the company’s stock, valued at $1,517,636.31. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, VP Andrew Justin Mackenzi Thomson sold 11,891 shares of the stock in a transaction on Thursday, August 4th. The stock was sold at an average price of $126.91, for a total value of $1,509,086.81. Following the completion of the transaction, the vice president now owns 136,410 shares in the company, valued at approximately $17,311,793.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jessica M. Hiebler sold 959 shares of the business’s stock in a transaction dated Tuesday, August 2nd. The stock was sold at an average price of $124.57, for a total value of $119,462.63. Following the sale, the insider now owns 12,183 shares in the company, valued at approximately $1,517,636.31. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company’s stock.

About T. Rowe Price Group

(Get Rating)

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.

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

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