Mn Services Vermogensbeheer B.V. Reduces Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Mn Services Vermogensbeheer B.V. lowered its position in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 2.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 87,833 shares of the asset manager's stock after selling 2,600 shares during the quarter. Mn Services Vermogensbeheer B.V.'s holdings in T. Rowe Price Group were worth $10,128,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. Confluence Investment Management LLC acquired a new position in shares of T. Rowe Price Group in the 1st quarter valued at $130,386,000. UBS Group AG grew its stake in shares of T. Rowe Price Group by 473.3% in the 4th quarter. UBS Group AG now owns 975,226 shares of the asset manager's stock valued at $105,022,000 after purchasing an additional 805,106 shares during the last quarter. Norges Bank purchased a new position in shares of T. Rowe Price Group in the 4th quarter valued at approximately $80,831,000. Hsbc Holdings PLC increased its holdings in shares of T. Rowe Price Group by 66.8% in the fourth quarter. Hsbc Holdings PLC now owns 765,080 shares of the asset manager's stock valued at $82,434,000 after purchasing an additional 306,524 shares during the period. Finally, Los Angeles Capital Management LLC raised its stake in shares of T. Rowe Price Group by 492.3% during the first quarter. Los Angeles Capital Management LLC now owns 319,887 shares of the asset manager's stock worth $39,001,000 after purchasing an additional 265,881 shares during the last quarter. 73.39% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

TROW has been the topic of a number of analyst reports. Keefe, Bruyette & Woods reiterated a "market perform" rating and issued a $120.00 price objective (down from $121.00) on shares of T. Rowe Price Group in a research report on Monday, July 29th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the company a "hold" rating in a report on Thursday, August 15th. TD Cowen cut their price target on shares of T. Rowe Price Group from $123.00 to $118.00 and set a "hold" rating for the company in a report on Monday, July 29th. StockNews.com lowered T. Rowe Price Group from a "buy" rating to a "hold" rating in a report on Monday, July 29th. Finally, Evercore ISI dropped their target price on T. Rowe Price Group from $110.00 to $107.00 and set an "in-line" rating on the stock in a research report on Tuesday, April 30th. Three analysts have rated the stock with a sell rating and seven have issued a hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $114.67.

T. Rowe Price Group Trading Up 0.4 %

Shares of TROW stock traded up $0.39 during mid-day trading on Friday, reaching $109.62. The stock had a trading volume of 732,690 shares, compared to its average volume of 1,275,534. The company has a market cap of $24.48 billion, a P/E ratio of 13.02, a price-to-earnings-growth ratio of 1.69 and a beta of 1.42. T. Rowe Price Group, Inc. has a 12-month low of $87.43 and a 12-month high of $122.27. The business has a 50-day simple moving average of $112.99 and a 200 day simple moving average of $113.89.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last announced its earnings results on Friday, July 26th. The asset manager reported $2.26 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.27 by ($0.01). T. Rowe Price Group had a return on equity of 19.90% and a net margin of 28.66%. The business had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.79 billion. During the same quarter in the previous year, the firm posted $2.02 EPS. The business's revenue was up 7.6% on a year-over-year basis. Research analysts anticipate that T. Rowe Price Group, Inc. will post 8.98 EPS for the current year.

T. Rowe Price Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be given a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a yield of 4.52%. The ex-dividend date is Friday, September 13th. T. Rowe Price Group's dividend payout ratio is presently 58.91%.

Insider Activity at T. Rowe Price Group

In related news, insider Jessica M. Hiebler sold 1,401 shares of the company's stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $115.85, for a total transaction of $162,305.85. Following the transaction, the insider now owns 14,198 shares of the company's stock, valued at $1,644,838.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Jessica M. Hiebler sold 1,401 shares of T. Rowe Price Group stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $115.85, for a total value of $162,305.85. Following the completion of the sale, the insider now owns 14,198 shares of the company's stock, valued at $1,644,838.30. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Dorothy C. Sawyer sold 2,000 shares of the stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $117.00, for a total value of $234,000.00. Following the transaction, the vice president now owns 34,710 shares in the company, valued at $4,061,070. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by corporate insiders.

About T. Rowe Price Group

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.

Want to see what other hedge funds are holding TROW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.