Van ECK Associates Corp Has $9.96 Million Stock Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Van ECK Associates Corp boosted its position in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 128.5% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 86,387 shares of the asset manager's stock after purchasing an additional 48,574 shares during the quarter. Van ECK Associates Corp's holdings in T. Rowe Price Group were worth $9,961,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Fisher Asset Management LLC raised its stake in T. Rowe Price Group by 6.6% in the fourth quarter. Fisher Asset Management LLC now owns 1,751,405 shares of the asset manager's stock valued at $188,609,000 after buying an additional 109,053 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in T. Rowe Price Group by 21.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,352,683 shares of the asset manager's stock worth $145,685,000 after purchasing an additional 236,697 shares in the last quarter. First Trust Advisors LP boosted its stake in T. Rowe Price Group by 1.3% in the 4th quarter. First Trust Advisors LP now owns 1,173,858 shares of the asset manager's stock worth $126,413,000 after purchasing an additional 15,504 shares in the last quarter. Confluence Investment Management LLC purchased a new stake in T. Rowe Price Group during the 1st quarter worth approximately $130,386,000. Finally, UBS Group AG increased its stake in T. Rowe Price Group by 473.3% during 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 in the last quarter. 73.39% of the stock is owned by hedge funds and other institutional investors.

T. Rowe Price Group Stock Down 1.5 %

Shares of TROW traded down $1.56 during midday trading on Tuesday, reaching $104.48. The company had a trading volume of 1,420,619 shares, compared to its average volume of 1,276,484. T. Rowe Price Group, Inc. has a 1-year low of $87.43 and a 1-year high of $122.27. The firm has a 50 day simple moving average of $111.67 and a 200-day simple moving average of $113.90. The stock has a market cap of $23.26 billion, a PE ratio of 12.59, a price-to-earnings-growth ratio of 1.69 and a beta of 1.41.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last released its quarterly earnings data on Friday, July 26th. The asset manager reported $2.26 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 business had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.79 billion. During the same quarter in the prior year, the company posted $2.02 earnings per share. The company's revenue was up 7.6% on a year-over-year basis. As a group, sell-side analysts anticipate that T. Rowe Price Group, Inc. will post 9 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be issued a $1.24 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $4.96 annualized dividend and a yield of 4.75%. T. Rowe Price Group's dividend payout ratio (DPR) is presently 58.91%.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Keefe, Bruyette & Woods restated 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 note on Monday, July 29th. Barclays began coverage on shares of T. Rowe Price Group in a research note on Tuesday, August 27th. They set an "underweight" rating and a $99.00 price objective for the company. Deutsche Bank Aktiengesellschaft increased their price objective on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the stock a "hold" rating in a research note on Thursday, August 15th. JPMorgan Chase & Co. boosted their target price on shares of T. Rowe Price Group from $102.00 to $107.00 and gave the company an "underweight" rating in a research report on Tuesday, July 23rd. Finally, TD Cowen cut their price target on T. Rowe Price Group from $123.00 to $118.00 and set a "hold" rating on the stock in a research report on Monday, July 29th. Four equities research analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. According to data from MarketBeat.com, T. Rowe Price Group presently has an average rating of "Hold" and a consensus target price of $113.10.

Insider Buying and Selling at T. Rowe Price Group

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

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.