Van ECK Associates Corp Has $7.47 Million Holdings in T. Rowe Price Group, Inc. $TROW

Van ECK Associates Corp decreased its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 28.7% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 65,738 shares of the asset manager’s stock after selling 26,459 shares during the period. Van ECK Associates Corp’s holdings in T. Rowe Price Group were worth $7,474,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Woodline Partners LP lifted its holdings in T. Rowe Price Group by 41.0% during the 1st quarter. Woodline Partners LP now owns 18,809 shares of the asset manager’s stock worth $1,728,000 after buying an additional 5,467 shares during the period. Focus Partners Wealth grew its position in shares of T. Rowe Price Group by 10.6% in the 1st quarter. Focus Partners Wealth now owns 13,054 shares of the asset manager’s stock valued at $1,199,000 after buying an additional 1,250 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of T. Rowe Price Group by 44.8% in the second quarter. EverSource Wealth Advisors LLC now owns 1,546 shares of the asset manager’s stock valued at $149,000 after buying an additional 478 shares during the period. Jump Financial LLC acquired a new stake in shares of T. Rowe Price Group in the second quarter valued at about $931,000. Finally, Daiwa Securities Group Inc. raised its position in shares of T. Rowe Price Group by 5.4% during the second quarter. Daiwa Securities Group Inc. now owns 33,245 shares of the asset manager’s stock worth $3,208,000 after acquiring an additional 1,703 shares during the last quarter. 73.39% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on TROW shares. The Goldman Sachs Group lifted their price objective on T. Rowe Price Group from $90.00 to $92.00 and gave the stock a “sell” rating in a research note on Tuesday, June 30th. UBS Group set a $110.00 price target on shares of T. Rowe Price Group in a report on Monday. Zacks Research downgraded shares of T. Rowe Price Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 13th. TD Cowen upped their price objective on shares of T. Rowe Price Group from $108.00 to $110.00 and gave the company a “hold” rating in a research note on Monday. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $109.00 price objective on shares of T. Rowe Price Group in a research report on Monday, August 3rd. Ten equities research analysts have rated the stock with a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat, T. Rowe Price Group presently has a consensus rating of “Reduce” and an average price target of $106.15.

T. Rowe Price Group Trading Down 2.1%

Shares of NASDAQ TROW opened at $108.97 on Wednesday. The firm’s 50-day moving average price is $114.48 and its 200-day moving average price is $103.61. T. Rowe Price Group, Inc. has a 1-year low of $85.22 and a 1-year high of $122.00. The firm has a market capitalization of $23.25 billion, a P/E ratio of 10.93, a P/E/G ratio of 3.69 and a beta of 1.46.

T. Rowe Price Group (NASDAQ:TROW) last issued its earnings results on Friday, July 31st. The asset manager reported $2.57 EPS for the quarter, beating the consensus estimate of $2.52 by $0.05. T. Rowe Price Group had a return on equity of 20.91% and a net margin of 29.26%.The company had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.89 billion. During the same period last year, the business posted $2.24 EPS. The firm’s revenue for the quarter was up 10.7% compared to the same quarter last year. Equities research analysts forecast that T. Rowe Price Group, Inc. will post 10.15 EPS for the current year.

T. Rowe Price Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 15th will be issued a $1.30 dividend. The ex-dividend date is Tuesday, September 15th. This represents a $5.20 annualized dividend and a yield of 4.8%. T. Rowe Price Group’s dividend payout ratio is presently 52.16%.

Insider Buying and Selling

In other T. Rowe Price Group news, VP Joshua B. Nelson sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $111.82, for a total value of $1,118,200.00. Following the completion of the sale, the vice president owned 71,328 shares of the company’s stock, valued at approximately $7,975,896.96. This trade represents a 12.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 1.60% of the company’s stock.

T. Rowe Price Group Profile

T. Rowe Price Group, Inc is a global investment management firm headquartered in Baltimore, Maryland, founded by Thomas Rowe Price Jr. in 1937. The company provides a broad range of investment products and services for individual investors, financial intermediaries, retirement plan sponsors and institutional clients. Its offerings are built around active investment management and in-house research across equity, fixed income and multi-asset strategies, reflecting a long history as a research-driven asset manager.

The firm’s product lineup includes mutual funds, separate accounts, collective investment trusts, target-date and target-risk funds, and managed account solutions, as well as services for defined contribution and defined benefit retirement plans.