Bank of New York Mellon Corp Has $205.75 Million Stake in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Bank of New York Mellon Corp trimmed its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 0.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,784,349 shares of the asset manager's stock after selling 13,660 shares during the quarter. Bank of New York Mellon Corp owned 0.80% of T. Rowe Price Group worth $205,753,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Lynx Investment Advisory purchased a new stake in T. Rowe Price Group in the 2nd quarter worth about $29,000. First United Bank & Trust bought a new position in T. Rowe Price Group in the 4th quarter valued at $31,000. Family Firm Inc. purchased a new stake in T. Rowe Price Group in the second quarter worth $36,000. Versant Capital Management Inc lifted its position in shares of T. Rowe Price Group by 660.5% during the second quarter. Versant Capital Management Inc now owns 327 shares of the asset manager's stock worth $38,000 after purchasing an additional 284 shares during the last quarter. Finally, Signature Resources Capital Management LLC purchased a new stake in shares of T. Rowe Price Group during the fourth quarter valued at $39,000. Institutional investors own 73.39% of the company's stock.

Insider Buying and Selling at T. Rowe Price Group

In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 1,401 shares of the firm's 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 sale, the insider now directly owns 14,198 shares in the company, valued at $1,644,838.30. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, insider Jessica M. Hiebler sold 1,401 shares of the company's stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $115.85, for a total value of $162,305.85. Following the completion of the transaction, the insider now owns 14,198 shares in the company, valued at approximately $1,644,838.30. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, VP Dorothy C. Sawyer sold 2,000 shares of T. Rowe Price Group stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $117.00, for a total transaction of $234,000.00. Following the sale, 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. Insiders own 2.00% of the company's stock.

T. Rowe Price Group Stock Performance

Shares of NASDAQ TROW traded down $0.34 during mid-day trading on Monday, reaching $109.28. The company's stock had a trading volume of 954,947 shares, compared to its average volume of 1,273,584. T. Rowe Price Group, Inc. has a 1-year low of $87.43 and a 1-year high of $122.27. The stock has a market capitalization of $24.33 billion, a P/E ratio of 12.98, a P/E/G ratio of 1.74 and a beta of 1.42. The stock has a 50-day moving average of $112.83 and a two-hundred day moving average of $113.93.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last posted its quarterly earnings data on Friday, July 26th. The asset manager reported $2.26 earnings per share 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 company had revenue of $1.73 billion for the quarter, compared to analysts' expectations of $1.79 billion. During the same period in the previous year, the business posted $2.02 EPS. The business's revenue for the quarter was up 7.6% on a year-over-year basis. Analysts predict that T. Rowe Price Group, Inc. will post 9 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 Friday, September 27th. Shareholders of record on Friday, September 13th will be issued a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a yield of 4.54%. The ex-dividend date of this dividend is Friday, September 13th. T. Rowe Price Group's dividend payout ratio (DPR) is presently 58.91%.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Keefe, Bruyette & Woods restated a "market perform" rating and set a $120.00 price objective (down from $121.00) on shares of T. Rowe Price Group in a report on Monday, July 29th. StockNews.com downgraded T. Rowe Price Group from a "buy" rating to a "hold" rating in a report on Monday, July 29th. TD Cowen dropped their target price on shares of T. Rowe Price Group from $123.00 to $118.00 and set a "hold" rating on the stock in a report on Monday, July 29th. JPMorgan Chase & Co. upped their price target on shares of T. Rowe Price Group from $102.00 to $107.00 and gave the stock an "underweight" rating in a research report on Tuesday, July 23rd. Finally, Evercore ISI reduced their price objective on shares of T. Rowe Price Group from $110.00 to $107.00 and set an "in-line" rating for the company in a research note on Tuesday, April 30th. Three equities research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company's stock. Based on data from MarketBeat.com, T. Rowe Price Group presently has an average rating of "Hold" and a consensus price target of $114.67.

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.