Mizuho Markets Americas LLC Reduces Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Mizuho Markets Americas LLC trimmed its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 38.8% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 55,504 shares of the asset manager's stock after selling 35,184 shares during the quarter. Mizuho Markets Americas LLC's holdings in T. Rowe Price Group were worth $6,400,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Massmutual Trust Co. FSB ADV lifted its stake in T. Rowe Price Group by 7.5% in the first quarter. Massmutual Trust Co. FSB ADV now owns 1,236 shares of the asset manager's stock worth $151,000 after purchasing an additional 86 shares during the last quarter. ST Germain D J Co. Inc. boosted its holdings in T. Rowe Price Group by 0.3% during the 1st quarter. ST Germain D J Co. Inc. now owns 31,065 shares of the asset manager's stock valued at $3,787,000 after acquiring an additional 88 shares during the period. MCF Advisors LLC grew its position in T. Rowe Price Group by 1.6% during the 1st quarter. MCF Advisors LLC now owns 5,953 shares of the asset manager's stock worth $726,000 after acquiring an additional 92 shares during the last quarter. Paulson Wealth Management Inc. increased its stake in T. Rowe Price Group by 4.9% in the 1st quarter. Paulson Wealth Management Inc. now owns 2,028 shares of the asset manager's stock worth $247,000 after purchasing an additional 95 shares during the period. Finally, CVA Family Office LLC lifted its position in T. Rowe Price Group by 28.3% in the second quarter. CVA Family Office LLC now owns 462 shares of the asset manager's stock valued at $53,000 after purchasing an additional 102 shares during the last quarter. Hedge funds and other institutional investors own 73.39% of the company's stock.

Insider Transactions at T. Rowe Price Group

In related news, insider Jessica M. Hiebler sold 1,401 shares of the company's stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $115.85, for a total transaction of $162,305.85. Following the completion of the sale, the insider now owns 14,198 shares in the company, valued at $1,644,838.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, insider Jessica M. Hiebler sold 1,401 shares of the firm'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 value 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Dorothy C. Sawyer sold 2,000 shares of the company's stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $117.00, for a total transaction of $234,000.00. Following the sale, the vice president now directly owns 34,710 shares of the company's stock, valued at $4,061,070. The disclosure for this sale can be found here. Company insiders own 2.00% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. JPMorgan Chase & Co. lifted their target price on shares of T. Rowe Price Group from $102.00 to $107.00 and gave the stock an "underweight" rating in a research note on Tuesday, July 23rd. Keefe, Bruyette & Woods restated a "market perform" rating and issued a $120.00 price objective (down previously from $121.00) on shares of T. Rowe Price Group in a research 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 for the company in a report on Monday, July 29th. Barclays initiated coverage on T. Rowe Price Group in a report on Tuesday. They set an "underweight" rating and a $99.00 price target on the stock. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on T. Rowe Price Group from $112.00 to $113.00 and gave the stock a "hold" rating in a report on Thursday, August 15th. Four equities research analysts have rated the stock with a sell rating and seven have given a hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $113.10.

T. Rowe Price Group Stock Performance

Shares of T. Rowe Price Group stock traded up $1.08 during trading on Friday, hitting $106.04. The company's stock had a trading volume of 1,832,001 shares, compared to its average volume of 1,275,624. T. Rowe Price Group, Inc. has a 52 week low of $87.43 and a 52 week high of $122.27. The company has a fifty day simple moving average of $111.93 and a two-hundred day simple moving average of $113.80. The company has a market capitalization of $23.68 billion, a PE ratio of 12.59, a P/E/G ratio of 1.74 and a beta of 1.42.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last announced its quarterly 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 net margin of 28.66% and a return on equity of 19.90%. 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 earned $2.02 EPS. The business's revenue was up 7.6% compared to the same quarter last year. As a group, analysts predict that T. Rowe Price Group, Inc. will post 9 EPS for the current year.

T. Rowe Price Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be issued a dividend of $1.24 per share. The ex-dividend date is Friday, September 13th. This represents a $4.96 annualized dividend and a dividend yield of 4.68%. T. Rowe Price Group's payout ratio is 58.91%.

T. Rowe Price Group Company 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.