T. Rowe Price Group, Inc. (NASDAQ:TROW) Shares Sold by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC cut its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 9.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 290,054 shares of the asset manager's stock after selling 29,833 shares during the period. Los Angeles Capital Management LLC owned 0.13% of T. Rowe Price Group worth $33,446,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Apollon Wealth Management LLC increased its holdings in shares of T. Rowe Price Group by 6.8% in the fourth quarter. Apollon Wealth Management LLC now owns 3,539 shares of the asset manager's stock valued at $381,000 after purchasing an additional 226 shares during the last quarter. Principal Securities Inc. bought a new position in T. Rowe Price Group in the 4th quarter valued at about $53,000. AGF Management Ltd. acquired a new stake in T. Rowe Price Group during the fourth quarter worth approximately $530,000. Jump Financial LLC boosted its holdings in shares of T. Rowe Price Group by 492.6% during the fourth quarter. Jump Financial LLC now owns 28,965 shares of the asset manager's stock worth $3,119,000 after acquiring an additional 24,077 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in shares of T. Rowe Price Group by 21.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,352,683 shares of the asset manager's stock valued at $145,685,000 after purchasing an additional 236,697 shares during the last quarter. 73.39% of the stock is owned by institutional investors.

T. Rowe Price Group Trading Down 2.3 %

Shares of TROW stock traded down $2.43 during mid-day trading on Friday, reaching $101.69. The stock had a trading volume of 1,320,882 shares, compared to its average volume of 917,465. The stock's 50-day moving average price is $110.68 and its two-hundred day moving average price is $113.75. T. Rowe Price Group, Inc. has a 52-week low of $87.43 and a 52-week high of $122.27. The firm has a market capitalization of $22.64 billion, a PE ratio of 12.08, a price-to-earnings-growth ratio of 1.67 and a beta of 1.41.

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 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 company had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.79 billion. During the same quarter in the prior year, the firm earned $2.02 earnings per share. The business's revenue was up 7.6% compared to the same quarter last year. On average, equities research analysts forecast that T. Rowe Price Group, Inc. will post 9 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

The firm 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 $1.24 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $4.96 annualized dividend and a dividend yield of 4.88%. T. Rowe Price Group's payout ratio is 58.91%.

Insider Transactions at T. Rowe Price Group

In other T. Rowe Price Group 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 link. In related news, VP Dorothy C. Sawyer sold 2,000 shares of the stock in a transaction 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jessica M. Hiebler sold 1,401 shares of the firm's stock in a transaction dated Thursday, June 27th. The shares were 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 in the company, valued at $1,644,838.30. The disclosure for this sale can be found here. Company insiders own 2.00% of the company's stock.

Analysts Set New Price Targets

Several research firms recently weighed in on TROW. Evercore ISI dropped their price target on T. Rowe Price Group from $115.00 to $108.00 and set an "in-line" rating for the company in a report on Thursday. TD Cowen decreased their price target on shares of T. Rowe Price Group from $123.00 to $118.00 and set a "hold" rating on the stock in a research note on Monday, July 29th. Barclays initiated coverage on shares of T. Rowe Price Group in a research note on Tuesday, August 27th. They issued an "underweight" rating and a $99.00 price objective for the company. JPMorgan Chase & Co. increased 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 report on Tuesday, July 23rd. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the company a "hold" rating in a research report on Thursday, August 15th. Four investment analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $113.20.

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.