Hallmark Capital Management Inc. cut its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 8.9% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 19,839 shares of the asset manager’s stock after selling 1,930 shares during the period. Hallmark Capital Management Inc.’s holdings in T. Rowe Price Group were worth $1,472,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. Quadrant Capital Group LLC boosted its position in T. Rowe Price Group by 1.4% in the first quarter. Quadrant Capital Group LLC now owns 1,660 shares of the asset manager’s stock worth $107,000 after buying an additional 23 shares during the period. Mosaic Family Wealth LLC boosted its position in T. Rowe Price Group by 4.5% in the first quarter. Mosaic Family Wealth LLC now owns 1,967 shares of the asset manager’s stock worth $134,000 after buying an additional 85 shares during the period. FNY Partners Fund LP acquired a new position in T. Rowe Price Group during the first quarter worth approximately $147,000. Duncker Streett & Co. Inc. boosted its position in T. Rowe Price Group by 57.9% in the first quarter. Duncker Streett & Co. Inc. now owns 2,472 shares of the asset manager’s stock worth $168,000 after buying an additional 906 shares during the period. Finally, Mycio Wealth Partners LLC acquired a new position in T. Rowe Price Group during the first quarter worth approximately $207,000. 71.26% of the stock is owned by hedge funds and other institutional investors.

Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) opened at 80.83 on Friday. The company’s 50-day moving average price is $74.84 and its 200-day moving average price is $71.83. T. Rowe Price Group, Inc. has a 12 month low of $62.97 and a 12 month high of $81.40. The company has a market cap of $19.50 billion, a price-to-earnings ratio of 15.83 and a beta of 1.22.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings results on Tuesday, April 25th. The asset manager reported $1.18 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.20 by $0.02. T. Rowe Price Group had a net margin of 29.59% and a return on equity of 24.24%. The firm had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.10 billion. During the same quarter in the previous year, the business earned $1.15 EPS. The company’s revenue for the quarter was up 12.0% on a year-over-year basis. Analysts anticipate that T. Rowe Price Group, Inc. will post $5.43 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Thursday, June 29th. Shareholders of record on Thursday, June 15th were given a dividend of $0.57 per share. The ex-dividend date was Tuesday, June 13th. This represents a $2.28 dividend on an annualized basis and a yield of 2.82%. T. Rowe Price Group’s payout ratio is 44.88%.

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A number of research firms have recently commented on TROW. Morgan Stanley reissued an “underweight” rating and set a $71.00 price target (up previously from $70.00) on shares of T. Rowe Price Group in a report on Tuesday. UBS AG reissued a “sell” rating and set a $63.00 price target (up previously from $62.00) on shares of T. Rowe Price Group in a report on Friday, July 14th. Zacks Investment Research raised T. Rowe Price Group from a “hold” rating to a “buy” rating and set a $83.00 price target for the company in a report on Wednesday, June 28th. Jefferies Group LLC set a $83.00 price target on T. Rowe Price Group and gave the stock a “buy” rating in a report on Tuesday, June 20th. Finally, BidaskClub raised T. Rowe Price Group from a “buy” rating to a “strong-buy” rating in a report on Wednesday, June 14th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. T. Rowe Price Group presently has a consensus rating of “Hold” and an average target price of $72.55.

About T. Rowe Price Group

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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