Great Lakes Advisors LLC boosted its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 14.1% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 11,103 shares of the asset manager’s stock after buying an additional 1,372 shares during the period. Great Lakes Advisors LLC’s holdings in T. Rowe Price Group were worth $824,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the company. Sumitomo Mitsui Asset Management Company LTD boosted its stake in T. Rowe Price Group by 10.3% in the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 20,784 shares of the asset manager’s stock valued at $1,416,000 after buying an additional 1,946 shares in the last quarter. DUPONT CAPITAL MANAGEMENT Corp boosted its stake in T. Rowe Price Group by 9.1% in the first quarter. DUPONT CAPITAL MANAGEMENT Corp now owns 31,700 shares of the asset manager’s stock valued at $2,160,000 after buying an additional 2,646 shares in the last quarter. First Bank & Trust boosted its stake in T. Rowe Price Group by 0.8% in the first quarter. First Bank & Trust now owns 5,905 shares of the asset manager’s stock valued at $402,000 after buying an additional 45 shares in the last quarter. Wesbanco Bank Inc. boosted its stake in T. Rowe Price Group by 4.4% in the first quarter. Wesbanco Bank Inc. now owns 10,310 shares of the asset manager’s stock valued at $702,000 after buying an additional 430 shares in the last quarter. Finally, Hennessy Advisors Inc. purchased a new stake in T. Rowe Price Group during the first quarter valued at about $2,113,000. Institutional investors and hedge funds own 74.18% of the company’s stock.

T. Rowe Price Group, Inc. (NASDAQ TROW) opened at 83.82 on Thursday. The company’s 50 day moving average is $81.74 and its 200 day moving average is $73.85. T. Rowe Price Group, Inc. has a 12-month low of $62.97 and a 12-month high of $85.42. The company has a market cap of $20.15 billion, a price-to-earnings ratio of 14.39 and a beta of 1.24.

T. Rowe Price Group (NASDAQ:TROW) last announced its earnings results on Tuesday, July 25th. The asset manager reported $1.28 earnings per share (EPS) for the quarter, topping the 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 quarter in the previous year, the company posted $0.76 EPS. The firm’s quarterly revenue was up 12.1% on a year-over-year basis. Analysts forecast that T. Rowe Price Group, Inc. will post $5.66 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 28th. Stockholders of record on Thursday, September 14th will be issued 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 2.72%. T. Rowe Price Group’s dividend payout ratio is presently 39.18%.

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Several analysts have recently weighed in on the stock. UBS AG restated a “sell” rating and set a $61.00 price objective (down previously from $77.00) on shares of T. Rowe Price Group in a research report on Wednesday, May 24th. ValuEngine upgraded shares of T. Rowe Price Group from a “hold” rating to a “buy” rating in a research report on Wednesday, August 2nd. 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 report on Tuesday, June 20th. Morgan Stanley restated an “underweight” rating and set a $71.00 price objective (up previously from $70.00) on shares of T. Rowe Price Group in a research report on Tuesday, July 18th. Finally, Zacks Investment Research upgraded shares of T. Rowe Price Group from a “hold” rating to a “buy” rating and set a $83.00 price objective on the stock in a research report on Wednesday, June 28th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. T. Rowe Price Group currently has a consensus rating of “Hold” and a consensus target price of $79.20.

In other news, insider David Oestreicher sold 10,394 shares of T. Rowe Price Group stock in a transaction on 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 approximately $6,836,577.93. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Anne M. Whittemore sold 8,326 shares of T. Rowe Price Group stock in a transaction on Thursday, July 27th. The stock was sold at an average price of $82.03, for a total value of $682,981.78. Following the transaction, the director now owns 28,982 shares in the company, valued at approximately $2,377,393.46. The disclosure for this sale can be found here. 3.60% of the stock is owned by 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.

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

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