T. Rowe Price Group, Inc. (NASDAQ:TROW) Position Boosted by Smithbridge Asset Management Inc. DE

Smithbridge Asset Management Inc. DE raised its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 21.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 44,369 shares of the asset manager’s stock after buying an additional 7,874 shares during the period. T. Rowe Price Group accounts for 2.7% of Smithbridge Asset Management Inc. DE’s holdings, making the stock its 13th largest position. Smithbridge Asset Management Inc. DE’s holdings in T. Rowe Price Group were worth $3,293,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. BlackRock Inc. raised its position in shares of T. Rowe Price Group by 1,722.6% in the first quarter. BlackRock Inc. now owns 16,378,787 shares of the asset manager’s stock worth $1,116,214,000 after buying an additional 15,480,155 shares during the period. JPMorgan Chase & Co. raised its position in shares of T. Rowe Price Group by 6.7% in the first quarter. JPMorgan Chase & Co. now owns 11,600,022 shares of the asset manager’s stock worth $790,542,000 after buying an additional 728,477 shares during the period. Geode Capital Management LLC raised its position in shares of T. Rowe Price Group by 8.8% in the first quarter. Geode Capital Management LLC now owns 2,818,756 shares of the asset manager’s stock worth $191,869,000 after buying an additional 228,194 shares during the period. Thomaspartners Inc. raised its position in shares of T. Rowe Price Group by 12.6% in the first quarter. Thomaspartners Inc. now owns 2,208,621 shares of the asset manager’s stock worth $150,518,000 after buying an additional 246,695 shares during the period. Finally, PNC Financial Services Group Inc. raised its position in shares of T. Rowe Price Group by 15.6% in the first quarter. PNC Financial Services Group Inc. now owns 2,001,852 shares of the asset manager’s stock worth $136,428,000 after buying an additional 270,081 shares during the period. 71.26% of the stock is currently owned by institutional investors.

T. Rowe Price Group, Inc. (TROW) traded down 0.09% on Monday, reaching $80.16. The company had a trading volume of 1,134,562 shares. T. Rowe Price Group, Inc. has a 12 month low of $62.97 and a 12 month high of $80.64. The company’s 50 day moving average price is $72.04 and its 200-day moving average price is $71.72. The company has a market capitalization of $19.34 billion, a price-to-earnings ratio of 15.70 and a beta of 1.22.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings data on Tuesday, April 25th. The asset manager reported $1.18 EPS for the quarter, missing analysts’ consensus estimates of $1.20 by $0.02. The company had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.10 billion. T. Rowe Price Group had a net margin of 29.59% and a return on equity of 24.24%. The company’s revenue for the quarter was up 12.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.15 EPS. On average, equities analysts predict that T. Rowe Price Group, Inc. will post $5.37 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 29th. Investors of record on Thursday, June 15th were issued a $0.57 dividend. The ex-dividend date was Tuesday, June 13th. This represents a $2.28 dividend on an annualized basis and a yield of 2.84%. T. Rowe Price Group’s dividend payout ratio is presently 44.88%.

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A number of research analysts have recently commented on TROW shares. ValuEngine lowered T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Argus lowered T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Wednesday, April 26th. BidaskClub raised T. Rowe Price Group from a “buy” rating to a “strong-buy” rating in a report on Wednesday, June 14th. Jefferies Group LLC reissued a “buy” rating and set a $84.00 price target on shares of T. Rowe Price Group in a report on Monday, March 27th. Finally, Morgan Stanley reissued an “underweight” rating and set a $70.00 price target (up from $64.00) on shares of T. Rowe Price Group in a report on Monday, July 10th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. T. Rowe Price Group currently has an average rating of “Hold” and a consensus price target of $72.45.

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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