Balyasny Asset Management LLC Sells 560,538 Shares of T. Rowe Price Group, Inc. (TROW)

Balyasny Asset Management LLC lessened its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 86.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 89,266 shares of the asset manager’s stock after selling 560,538 shares during the period. Balyasny Asset Management LLC’s holdings in T. Rowe Price Group were worth $6,624,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the business. Cleararc Capital Inc. boosted its position in T. Rowe Price Group by 0.5% in the 1st quarter. Cleararc Capital Inc. now owns 5,944 shares of the asset manager’s stock worth $405,000 after purchasing an additional 31 shares in the last quarter. Sheets Smith Wealth Management boosted its position in T. Rowe Price Group by 0.7% in the 2nd quarter. Sheets Smith Wealth Management now owns 5,292 shares of the asset manager’s stock worth $393,000 after purchasing an additional 38 shares in the last quarter. Good Life Advisors LLC boosted its position in T. Rowe Price Group by 1.1% in the 2nd quarter. Good Life Advisors LLC now owns 4,650 shares of the asset manager’s stock worth $359,000 after purchasing an additional 52 shares in the last quarter. GHP Investment Advisors Inc. boosted its position in T. Rowe Price Group by 0.3% in the 2nd quarter. GHP Investment Advisors Inc. now owns 19,549 shares of the asset manager’s stock worth $1,451,000 after purchasing an additional 53 shares in the last quarter. Finally, Private Trust Co. NA boosted its position in T. Rowe Price Group by 0.8% in the 2nd quarter. Private Trust Co. NA now owns 7,307 shares of the asset manager’s stock worth $542,000 after purchasing an additional 60 shares in the last quarter. Institutional investors and hedge funds own 73.62% of the company’s stock.

T. Rowe Price Group, Inc. (TROW) opened at 91.72 on Friday. T. Rowe Price Group, Inc. has a 12 month low of $62.97 and a 12 month high of $92.38. The stock has a market cap of $22.05 billion, a price-to-earnings ratio of 15.75 and a beta of 1.25. The stock’s 50 day moving average price is $85.65 and its 200-day moving average price is $77.05.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings data on Tuesday, July 25th. The asset manager reported $1.28 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.27 by $0.01. T. Rowe Price Group had a return on equity of 24.38% and a net margin of 32.64%. The firm had revenue of $1.17 billion for the quarter, compared to analyst estimates 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 quarterly revenue was up 12.1% on a year-over-year basis. Equities research analysts predict that T. Rowe Price Group, Inc. will post $5.70 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 28th. Investors of record on Thursday, September 14th were issued a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 2.49%. The ex-dividend date of this dividend was Wednesday, September 13th. T. Rowe Price Group’s dividend payout ratio is presently 39.18%.

Several equities research analysts have commented on TROW shares. ValuEngine upgraded T. Rowe Price Group from a “hold” rating to a “buy” rating in a research report on Wednesday, August 2nd. Zacks Investment Research lowered T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Wednesday, September 13th. Wells Fargo & Company restated a “market perform” rating on shares of T. Rowe Price Group in a research report on Thursday, July 27th. Jefferies Group LLC restated a “buy” rating and issued a $96.00 price objective on shares of T. Rowe Price Group in a research report on Sunday, August 20th. Finally, BidaskClub upgraded T. Rowe Price Group from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, June 14th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $85.45.

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In related news, insider David Oestreicher sold 10,394 shares of the company’s 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 of the company’s stock, valued at $6,836,577.93. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Kenneth V. Moreland sold 13,041 shares of the company’s stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $90.43, for a total value of $1,179,297.63. Following the transaction, the chief financial officer now directly owns 135,028 shares in the company, valued at approximately $12,210,582.04. The disclosure for this sale can be found here. Insiders have sold 36,924 shares of company stock worth $3,187,333 in the last ninety days. 3.60% of the stock is currently owned by corporate insiders.

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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