Intact Investment Management Inc. decreased its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 40.0% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 21,000 shares of the asset manager’s stock after selling 14,000 shares during the quarter. Intact Investment Management Inc.’s holdings in T. Rowe Price Group were worth $1,558,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Banque Pictet & Cie SA lifted its position in T. Rowe Price Group by 2.8% during the second quarter. Banque Pictet & Cie SA now owns 86,318 shares of the asset manager’s stock valued at $6,406,000 after purchasing an additional 2,318 shares during the last quarter. Thompson Siegel & Walmsley LLC lifted its position in T. Rowe Price Group by 0.9% during the second quarter. Thompson Siegel & Walmsley LLC now owns 65,899 shares of the asset manager’s stock valued at $4,890,000 after purchasing an additional 603 shares during the last quarter. Pictet & Cie Europe SA lifted its position in T. Rowe Price Group by 30.2% during the second quarter. Pictet & Cie Europe SA now owns 12,836 shares of the asset manager’s stock valued at $953,000 after purchasing an additional 2,977 shares during the last quarter. JPMorgan Chase & Co. lifted its position in T. Rowe Price Group by 1.3% during the second quarter. JPMorgan Chase & Co. now owns 11,756,348 shares of the asset manager’s stock valued at $872,439,000 after purchasing an additional 156,326 shares during the last quarter. Finally, Sawtooth Solutions LLC lifted its position in T. Rowe Price Group by 16.3% during the second quarter. Sawtooth Solutions LLC now owns 14,705 shares of the asset manager’s stock valued at $1,091,000 after purchasing an additional 2,062 shares during the last quarter. Hedge funds and other institutional investors own 74.20% of the company’s stock.

In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 1,000 shares of the business’s stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $84.29, for a total transaction of $84,290.00. Following the sale, the insider now directly owns 8,461 shares in the company, valued at $713,177.69. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Anne M. Whittemore sold 8,326 shares of the business’s stock in a transaction dated Thursday, July 27th. The stock was sold at an average price of $82.03, for a total transaction of $682,981.78. Following the sale, the director now owns 28,982 shares in the company, valued at $2,377,393.46. The disclosure for this sale can be found here. Insiders have sold 19,720 shares of company stock worth $1,630,701 over the last quarter. Insiders own 3.60% of the company’s stock.

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T. Rowe Price Group, Inc. (NASDAQ:TROW) opened at 84.28 on Monday. The stock has a market cap of $20.26 billion, a P/E ratio of 14.47 and a beta of 1.24. The company has a 50-day moving average of $82.78 and a 200 day moving average of $74.41. T. Rowe Price Group, Inc. has a 1-year low of $62.97 and a 1-year high of $85.42.

T. Rowe Price Group (NASDAQ:TROW) last posted its earnings results on Tuesday, July 25th. The asset manager reported $1.28 EPS for the quarter, beating the Zacks’ 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 prior year, the company posted $0.76 earnings per share. T. Rowe Price Group’s revenue for the quarter was up 12.1% compared to the same quarter last year. Analysts predict that T. Rowe Price Group, Inc. will post $5.66 EPS for the current year.

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

Several equities analysts have commented on TROW shares. Morgan Stanley reiterated an “underweight” rating and set a $70.00 price objective (up previously from $64.00) on shares of T. Rowe Price Group in a research report on Monday, July 10th. 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. Credit Suisse Group increased their price objective on shares of T. Rowe Price Group from $70.00 to $90.00 and gave the company a “neutral” rating in a research report on Wednesday, July 26th. Citigroup Inc. increased their price objective on shares of T. Rowe Price Group from $73.50 to $90.00 and gave the company a “neutral” rating in a research report on Wednesday, July 26th. 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 for the company in a research report on Wednesday, June 28th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $79.20.

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.

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

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