National Pension Service Boosts Holdings in T. Rowe Price Group, Inc. $TROW

National Pension Service increased its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 3.7% during the second quarter, HoldingsChannel.com reports. The firm owned 619,524 shares of the asset manager’s stock after acquiring an additional 22,175 shares during the quarter. National Pension Service’s holdings in T. Rowe Price Group were worth $70,434,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. TD Private Client Wealth LLC increased its stake in T. Rowe Price Group by 91.8% during the 4th quarter. TD Private Client Wealth LLC now owns 257 shares of the asset manager’s stock valued at $26,000 after purchasing an additional 123 shares in the last quarter. DV Equities LLC bought a new position in shares of T. Rowe Price Group in the fourth quarter worth approximately $32,000. Motiv8 Investments LLC bought a new position in shares of T. Rowe Price Group in the fourth quarter worth approximately $35,000. Bank & Trust Co lifted its stake in shares of T. Rowe Price Group by 52.4% in the second quarter. Bank & Trust Co now owns 314 shares of the asset manager’s stock worth $36,000 after buying an additional 108 shares in the last quarter. Finally, Keating Financial Advisory Services Inc. purchased a new stake in shares of T. Rowe Price Group during the second quarter valued at approximately $39,000. 73.39% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other T. Rowe Price Group news, VP Joshua Nelson sold 10,000 shares of the stock in a transaction dated 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 transaction, the vice president owned 71,328 shares of the company’s stock, valued at approximately $7,975,896.96. This represents a 12.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.60% of the company’s stock.

Analyst Upgrades and Downgrades

TROW has been the subject of several analyst reports. TD Cowen raised their price target on shares of T. Rowe Price Group from $108.00 to $110.00 and gave the company a “hold” rating in a research report on Monday, August 31st. BMO Capital Markets increased their target price on T. Rowe Price Group from $110.00 to $120.00 and gave the company a “market perform” rating in a research note on Monday, August 3rd. The Goldman Sachs Group increased their target price on T. Rowe Price Group from $90.00 to $92.00 and gave the company a “sell” rating in a research note on Tuesday, June 30th. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $115.00 target price (down from $120.00) on shares of T. Rowe Price Group in a report on Monday, August 3rd. Finally, Morgan Stanley set a $116.00 price target on T. Rowe Price Group in a research note on Wednesday, July 29th. One investment analyst has rated the stock with a Buy rating, nine have issued a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average target price of $106.15.

T. Rowe Price Group Stock Down 1.2%

Shares of T. Rowe Price Group stock opened at $106.29 on Friday. T. Rowe Price Group, Inc. has a twelve month low of $85.22 and a twelve month high of $122.00. The company’s 50 day moving average is $113.83 and its 200 day moving average is $104.36. The company has a market cap of $22.67 billion, a price-to-earnings ratio of 10.66, a price-to-earnings-growth ratio of 3.56 and a beta of 1.46.

T. Rowe Price Group (NASDAQ:TROW) last posted its earnings results on Friday, July 31st. The asset manager reported $2.57 EPS for the quarter, topping analysts’ consensus estimates of $2.52 by $0.05. The business had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.89 billion. T. Rowe Price Group had a net margin of 29.26% and a return on equity of 20.91%. The firm’s revenue was up 10.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.24 EPS. Sell-side analysts expect that T. Rowe Price Group, Inc. will post 10.16 EPS for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th will be given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 4.9%. The ex-dividend date is Tuesday, September 15th. T. Rowe Price Group’s dividend payout ratio is 52.16%.

About T. Rowe Price Group

T. Rowe Price Group, Inc is a global investment management firm headquartered in Baltimore, Maryland. Founded in 1937 by Thomas Rowe Price Jr., the company provides investment management, advisory and related services to individual investors, retirement plans, institutions, financial intermediaries and other clients.

The company offers a broad range of investment products and strategies, including mutual funds, exchange-traded funds, separately managed accounts and institutional portfolios.