New Mexico Educational Retirement Board decreased its stake in shares of T. Rowe Price Group Inc (NASDAQ:TROW) by 3.5% during the 2nd quarter, Holdings Channel.com reports. The firm owned 19,387 shares of the asset manager’s stock after selling 700 shares during the period. New Mexico Educational Retirement Board’s holdings in T. Rowe Price Group were worth $2,127,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of TROW. Adirondack Trust Co. increased its holdings in shares of T. Rowe Price Group by 606.1% in the 1st quarter. Adirondack Trust Co. now owns 233 shares of the asset manager’s stock valued at $25,000 after acquiring an additional 200 shares during the last quarter. Advisory Alpha LLC purchased a new position in shares of T. Rowe Price Group in the 1st quarter valued at about $27,000. Kistler Tiffany Companies LLC increased its holdings in shares of T. Rowe Price Group by 66.7% in the 2nd quarter. Kistler Tiffany Companies LLC now owns 250 shares of the asset manager’s stock valued at $27,000 after acquiring an additional 100 shares during the last quarter. LFA Lugano Financial Advisors SA purchased a new position in shares of T. Rowe Price Group in the 1st quarter valued at about $29,000. Finally, Trustcore Financial Services LLC increased its holdings in shares of T. Rowe Price Group by 353.8% in the 1st quarter. Trustcore Financial Services LLC now owns 295 shares of the asset manager’s stock valued at $30,000 after acquiring an additional 230 shares during the last quarter. Institutional investors own 68.80% of the company’s stock.

In other T. Rowe Price Group news, Director Mary K. Bush sold 3,500 shares of the stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $107.06, for a total transaction of $374,710.00. Following the completion of the sale, the director now directly owns 19,243 shares of the company’s stock, valued at approximately $2,060,155.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Sebastien Page sold 4,418 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $107.05, for a total value of $472,946.90. Following the sale, the vice president now directly owns 51,302 shares of the company’s stock, valued at $5,491,879.10. The disclosure for this sale can be found here. Over the last three months, insiders sold 64,209 shares of company stock valued at $7,302,649. Insiders own 3.10% of the company’s stock.

Shares of NASDAQ TROW traded down $0.26 during trading hours on Friday, reaching $108.92. The stock had a trading volume of 9,119 shares, compared to its average volume of 1,210,914. The firm has a market cap of $25.40 billion, a price-to-earnings ratio of 15.22, a PEG ratio of 1.63 and a beta of 1.05. The company has a current ratio of 3.91, a quick ratio of 3.91 and a debt-to-equity ratio of 0.02. T. Rowe Price Group Inc has a fifty-two week low of $84.59 and a fifty-two week high of $117.68. The firm has a 50-day moving average of $109.84 and a 200-day moving average of $104.52.

T. Rowe Price Group (NASDAQ:TROW) last announced its earnings results on Wednesday, July 24th. The asset manager reported $2.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.88 by $0.15. The firm had revenue of $1.40 billion during the quarter, compared to analysts’ expectations of $1.39 billion. T. Rowe Price Group had a return on equity of 28.80% and a net margin of 36.17%. The business’s revenue was up 3.7% on a year-over-year basis. During the same period in the prior year, the firm earned $1.87 EPS. On average, equities analysts predict that T. Rowe Price Group Inc will post 7.78 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be given a $0.76 dividend. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $3.04 dividend on an annualized basis and a dividend yield of 2.79%. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 42.52%.

A number of research firms have recently commented on TROW. Deutsche Bank dropped their price objective on T. Rowe Price Group from $115.00 to $112.00 and set a “hold” rating on the stock in a report on Friday, August 9th. Gabelli reiterated a “buy” rating on shares of T. Rowe Price Group in a report on Thursday, April 25th. Citigroup increased their price objective on T. Rowe Price Group from $113.00 to $115.00 and gave the company a “neutral” rating in a report on Tuesday, July 9th. BidaskClub upgraded T. Rowe Price Group from a “sell” rating to a “hold” rating in a report on Wednesday, July 24th. Finally, Morgan Stanley increased their price objective on T. Rowe Price Group from $117.00 to $122.00 and gave the company an “equal weight” rating in a report on Friday, July 26th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $109.75.

T. Rowe Price Group Profile

T. Rowe Price Group, Inc is a publicly owned investment manager. The firm provides its services to individuals, institutional investors, retirement plans, financial intermediaries, and institutions. It launches and manages equity and fixed income mutual funds. The firm invests in the public equity and fixed income markets across the globe.

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

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