T. Rowe Price Group, Inc. $TROW Shares Bought by Prudential Financial Inc.

Prudential Financial Inc. increased its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 29.6% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 173,545 shares of the asset manager’s stock after acquiring an additional 39,610 shares during the quarter. Prudential Financial Inc.’s holdings in T. Rowe Price Group were worth $16,747,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of TROW. Coldstream Capital Management Inc. boosted its stake in shares of T. Rowe Price Group by 38.3% during the 2nd quarter. Coldstream Capital Management Inc. now owns 5,315 shares of the asset manager’s stock valued at $513,000 after buying an additional 1,471 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of T. Rowe Price Group by 1.8% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 7,846,636 shares of the asset manager’s stock valued at $757,200,000 after purchasing an additional 140,385 shares in the last quarter. RBO & Co. LLC raised its stake in shares of T. Rowe Price Group by 4.1% in the 2nd quarter. RBO & Co. LLC now owns 92,772 shares of the asset manager’s stock valued at $8,952,000 after purchasing an additional 3,674 shares in the last quarter. Rhumbline Advisers lifted its position in shares of T. Rowe Price Group by 3.6% during the second quarter. Rhumbline Advisers now owns 470,067 shares of the asset manager’s stock worth $45,361,000 after purchasing an additional 16,327 shares during the last quarter. Finally, Mufg Securities Americas Inc. grew its stake in T. Rowe Price Group by 23.9% in the second quarter. Mufg Securities Americas Inc. now owns 4,883 shares of the asset manager’s stock worth $471,000 after purchasing an additional 942 shares in the last quarter. Institutional investors and hedge funds own 73.39% of the company’s stock.

Insider Buying and Selling at T. Rowe Price Group

In other news, Director Robert F. Maclellan sold 3,090 shares of the business’s stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $105.01, for a total transaction of $324,480.90. Following the completion of the transaction, the director directly owned 47,335 shares in the company, valued at approximately $4,970,648.35. The trade was a 6.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 2.00% of the company’s stock.

T. Rowe Price Group Stock Performance

TROW stock opened at $102.09 on Thursday. T. Rowe Price Group, Inc. has a 1 year low of $77.85 and a 1 year high of $125.81. The stock has a market capitalization of $22.28 billion, a price-to-earnings ratio of 11.41, a PEG ratio of 5.61 and a beta of 1.51. The stock’s fifty day moving average is $102.98 and its two-hundred day moving average is $101.78.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings data on Friday, October 31st. The asset manager reported $2.81 earnings per share for the quarter, topping analysts’ consensus estimates of $2.55 by $0.26. The business had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.88 billion. T. Rowe Price Group had a net margin of 28.72% and a return on equity of 19.77%. The company’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same quarter last year, the company earned $2.57 EPS. As a group, analysts predict that T. Rowe Price Group, Inc. will post 9.29 EPS for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Monday, December 15th will be paid a $1.27 dividend. The ex-dividend date is Monday, December 15th. This represents a $5.08 annualized dividend and a dividend yield of 5.0%. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 55.34%.

Analyst Ratings Changes

Several analysts have issued reports on the company. Bank of America upped their price objective on T. Rowe Price Group from $91.00 to $97.00 and gave the company an “underperform” rating in a research note on Thursday, October 2nd. The Goldman Sachs Group lowered their price target on T. Rowe Price Group from $98.00 to $93.00 and set a “sell” rating for the company in a report on Tuesday. JPMorgan Chase & Co. upped their price target on T. Rowe Price Group from $109.00 to $111.00 and gave the company an “underweight” rating in a research report on Monday, November 3rd. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the stock a “hold” rating in a report on Friday, November 14th. Finally, Jefferies Financial Group boosted their target price on shares of T. Rowe Price Group from $104.00 to $106.00 and gave the company a “hold” rating in a research note on Tuesday, October 7th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Reduce” and an average price target of $109.00.

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.