Private Advisor Group LLC grew its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 3.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,593 shares of the asset manager’s stock after acquiring an additional 314 shares during the period. Private Advisor Group LLC’s holdings in T. Rowe Price Group were worth $662,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the company. Cleararc Capital Inc. lifted its stake in shares of T. Rowe Price Group by 0.5% in the first quarter. Cleararc Capital Inc. now owns 5,944 shares of the asset manager’s stock valued at $405,000 after purchasing an additional 31 shares during the period. Sheets Smith Wealth Management lifted its stake in shares of T. Rowe Price Group by 0.7% in the second quarter. Sheets Smith Wealth Management now owns 5,292 shares of the asset manager’s stock valued at $393,000 after purchasing an additional 38 shares during the period. Good Life Advisors LLC lifted 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 valued at $359,000 after purchasing an additional 52 shares during the period. GHP Investment Advisors Inc. lifted its stake in shares of T. Rowe Price Group by 0.3% in the second quarter. GHP Investment Advisors Inc. now owns 19,549 shares of the asset manager’s stock valued at $1,451,000 after purchasing an additional 53 shares during the period. Finally, Private Trust Co. NA lifted its stake in shares of T. Rowe Price Group by 0.8% in the second quarter. Private Trust Co. NA now owns 7,307 shares of the asset manager’s stock valued at $542,000 after purchasing an additional 60 shares during the period. 74.20% of the stock is currently owned by institutional investors and hedge funds.

Several analysts recently commented on TROW shares. ValuEngine upgraded shares of T. Rowe Price Group from a “hold” rating to a “buy” rating in a research note on Wednesday, August 2nd. Zacks Investment Research cut shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Wednesday. Wells Fargo & Company reiterated a “market perform” rating on shares of T. Rowe Price Group in a research note on Thursday, July 27th. Jefferies Group LLC reiterated a “buy” rating and issued a $96.00 price objective on shares of T. Rowe Price Group in a research note on Sunday, August 20th. Finally, BidaskClub upgraded shares of T. Rowe Price Group from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, June 14th. Four research analysts have rated the stock with a sell rating, seven have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $81.30.

In related news, insider Jessica M. Hiebler sold 1,000 shares of the stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $84.29, for a total value of $84,290.00. Following the completion of the transaction, the insider now owns 8,461 shares in the company, valued at approximately $713,177.69. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Anne M. Whittemore sold 8,326 shares of the 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 completion of the transaction, the director now owns 28,982 shares of the company’s stock, valued at approximately $2,377,393.46. The disclosure for this sale can be found here. Insiders sold a total of 19,720 shares of company stock valued at $1,630,701 in the last quarter. 3.60% of the stock is currently owned by insiders.

T. Rowe Price Group, Inc. (TROW) opened at 84.27 on Thursday. T. Rowe Price Group, Inc. has a 12 month low of $62.97 and a 12 month high of $85.42. The firm has a market cap of $20.25 billion, a PE ratio of 14.47 and a beta of 1.24. The firm’s 50-day moving average is $83.25 and its 200-day moving average is $74.96.

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, beating the Zacks’ consensus estimate of $1.27 by $0.01. The firm had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.16 billion. T. Rowe Price Group had a net margin of 32.64% and a return on equity of 24.38%. T. Rowe Price Group’s revenue was up 12.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.76 EPS. Equities analysts expect that T. Rowe Price Group, Inc. will post $5.66 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 28th. Investors 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 dividend payout ratio is presently 39.18%.

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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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