Cornerstone Advisory LLP increased its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 678.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 80,249 shares of the asset manager’s stock after buying an additional 69,934 shares during the period. T. Rowe Price Group comprises 2.0% of Cornerstone Advisory LLP’s portfolio, making the stock its 14th largest position. Cornerstone Advisory LLP’s holdings in T. Rowe Price Group were worth $5,955,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Good Life Advisors LLC increased its stake in shares of T. Rowe Price Group by 1.1% in the second quarter. Good Life Advisors LLC now owns 4,650 shares of the asset manager’s stock worth $359,000 after buying an additional 52 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of T. Rowe Price Group by 0.7% in the second quarter. Principal Financial Group Inc. now owns 371,989 shares of the asset manager’s stock worth $27,605,000 after buying an additional 2,514 shares during the last quarter. Homrich & Berg increased its stake in shares of T. Rowe Price Group by 14.3% in the second quarter. Homrich & Berg now owns 8,738 shares of the asset manager’s stock worth $648,000 after buying an additional 1,091 shares during the last quarter. Patriot Financial Group Insurance Agency LLC increased its stake in shares of T. Rowe Price Group by 15.1% in the second quarter. Patriot Financial Group Insurance Agency LLC now owns 3,515 shares of the asset manager’s stock worth $271,000 after buying an additional 462 shares during the last quarter. Finally, OMERS ADMINISTRATION Corp acquired a new stake in shares of T. Rowe Price Group during the second quarter worth about $2,271,000. 74.18% of the stock is owned by institutional investors and hedge funds.

Shares of T. Rowe Price Group, Inc. (TROW) traded down 0.20% during mid-day trading on Wednesday, hitting $83.86. 136,907 shares of the stock traded hands. The firm has a 50 day moving average of $81.74 and a 200 day moving average of $73.85. The company has a market cap of $20.16 billion, a P/E ratio of 14.40 and a beta of 1.24. T. Rowe Price Group, Inc. has a 12 month low of $62.97 and a 12 month high of $85.42.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings results on Tuesday, July 25th. The asset manager reported $1.28 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 analysts’ expectations of $1.16 billion. During the same period last year, the company earned $0.76 EPS. The firm’s revenue for the quarter was up 12.1% compared to the same quarter last year. Equities analysts anticipate that T. Rowe Price Group, Inc. will post $5.66 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 28th. Shareholders of record on Thursday, September 14th will be paid a dividend of $0.57 per share. The ex-dividend date of this dividend is Wednesday, September 13th. This represents a $2.28 annualized dividend and a dividend yield of 2.71%. T. Rowe Price Group’s dividend payout ratio is currently 39.18%.

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TROW has been the topic of a number of analyst reports. UBS AG restated a “sell” rating and set a $61.00 target price (down previously from $77.00) on shares of T. Rowe Price Group in a research note on Wednesday, May 24th. BidaskClub cut shares of T. Rowe Price Group from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, August 1st. Jefferies Group LLC restated a “buy” rating and set a $96.00 target price on shares of T. Rowe Price Group in a research note on Sunday, August 20th. Zacks Investment Research cut shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Monday, August 21st. Finally, Wells Fargo & Co restated a “market perform” rating on shares of T. Rowe Price Group in a research note on Thursday, July 27th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $79.20.

In other T. Rowe Price Group news, Director Anne M. Whittemore sold 8,326 shares of the firm’s stock in a transaction dated Thursday, July 27th. The shares were sold at an average price of $82.03, for a total transaction of $682,981.78. Following the sale, the director now directly owns 28,982 shares of the company’s stock, valued at approximately $2,377,393.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider David Oestreicher sold 10,394 shares of the stock in a transaction dated Thursday, July 27th. The stock was sold at an average price of $83.07, for a total transaction of $863,429.58. Following the transaction, the insider now owns 82,299 shares in the company, valued at $6,836,577.93. The disclosure for this sale can be found here. 3.60% of the stock is owned by company 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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