People s United Financial Inc. grew its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 87.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,584 shares of the asset manager’s stock after acquiring an additional 2,134 shares during the period. People s United Financial Inc.’s holdings in T. Rowe Price Group were worth $340,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of TROW. First Allied Advisory Services Inc. raised its position in shares of T. Rowe Price Group by 10.3% during the 2nd quarter. First Allied Advisory Services Inc. now owns 3,839 shares of the asset manager’s stock worth $283,000 after purchasing an additional 359 shares during the last quarter. Hall Capital Management Co. Inc. raised its position in shares of T. Rowe Price Group by 1.2% during the 2nd quarter. Hall Capital Management Co. Inc. now owns 10,942 shares of the asset manager’s stock worth $812,000 after purchasing an additional 130 shares during the last quarter. QS Investors LLC raised its position in shares of T. Rowe Price Group by 43.8% during the 2nd quarter. QS Investors LLC now owns 4,595 shares of the asset manager’s stock worth $341,000 after purchasing an additional 1,400 shares during the last quarter. Bamco Inc. NY raised its position in shares of T. Rowe Price Group by 0.4% during the 2nd quarter. Bamco Inc. NY now owns 276,362 shares of the asset manager’s stock worth $20,509,000 after purchasing an additional 1,048 shares during the last quarter. Finally, Barr E S & Co. raised its position in shares of T. Rowe Price Group by 2.5% during the 2nd quarter. Barr E S & Co. now owns 107,303 shares of the asset manager’s stock worth $7,963,000 after purchasing an additional 2,657 shares during the last quarter. Institutional investors own 73.62% of the company’s stock.

In related news, Director Anne M. Whittemore sold 8,326 shares of the company’s stock in a transaction that occurred on Thursday, July 27th. The shares were sold at an average price of $82.03, for a total value of $682,981.78. Following the completion of the sale, the director now owns 28,982 shares in the company, valued at approximately $2,377,393.46. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider David Oestreicher sold 10,394 shares of the company’s stock in a transaction that occurred on Thursday, July 27th. The shares were sold at an average price of $83.07, for a total transaction of $863,429.58. Following the completion of the sale, the insider now owns 82,299 shares of the company’s stock, valued at approximately $6,836,577.93. The disclosure for this sale can be found here. In the last 90 days, insiders sold 36,924 shares of company stock valued at $3,187,333. 3.60% of the stock is owned by insiders.

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Several brokerages recently issued reports on TROW. ValuEngine upgraded T. Rowe Price Group from a “hold” rating to a “buy” rating in a research report on Wednesday, August 2nd. UBS AG restated a “sell” rating and set a $63.00 price objective (up from $62.00) on shares of T. Rowe Price Group in a research report on Friday, July 14th. Jefferies Group LLC set a $83.00 price objective on T. Rowe Price Group and gave the stock a “buy” rating in a research report on Tuesday, June 20th. BidaskClub upgraded T. Rowe Price Group from a “buy” rating to a “strong-buy” rating in a research report on Monday, August 14th. Finally, Morgan Stanley restated an “underweight” rating and set a $71.00 price objective (up from $70.00) on shares of T. Rowe Price Group in a research report on Tuesday, July 18th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $85.45.

Shares of T. Rowe Price Group, Inc. (NASDAQ TROW) opened at 91.72 on Friday. T. Rowe Price Group, Inc. has a 1-year low of $62.97 and a 1-year high of $92.38. The firm has a 50-day moving average of $85.65 and a 200 day moving average of $77.05. The stock has a market capitalization of $22.05 billion, a PE ratio of 15.75 and a beta of 1.25.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings results on Tuesday, July 25th. The asset manager reported $1.28 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.27 by $0.01. The business had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.16 billion. T. Rowe Price Group had a net margin of 32.64% and a return on equity of 24.38%. The firm’s quarterly revenue was up 12.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.76 EPS. On average, equities analysts anticipate that T. Rowe Price Group, Inc. will post $5.70 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Thursday, September 28th. Investors of record on Thursday, September 14th were given a $0.57 dividend. The ex-dividend date was Wednesday, September 13th. This represents a $2.28 annualized dividend and a dividend yield of 2.49%. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 39.18%.

T. Rowe Price Group 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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