Private Advisor Group LLC lowered its position in T. Rowe Price Group Inc. (NASDAQ:TROW) by 0.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,761 shares of the company’s stock after selling 29 shares during the period. Private Advisor Group LLC’s holdings in T. Rowe Price Group were worth $343,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its stake in T. Rowe Price Group by 1.3% in the second quarter. JPMorgan Chase & Co. now owns 11,341,487 shares of the company’s stock worth $827,589,000 after buying an additional 141,941 shares in the last quarter. BlackRock Institutional Trust Company N.A. raised its stake in T. Rowe Price Group by 1.2% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 6,523,477 shares of the company’s stock worth $479,215,000 after buying an additional 75,995 shares in the last quarter. Ameriprise Financial Inc. raised its stake in T. Rowe Price Group by 4.2% in the second quarter. Ameriprise Financial Inc. now owns 4,608,429 shares of the company’s stock worth $336,259,000 after buying an additional 186,943 shares in the last quarter. Geode Capital Management LLC raised its stake in T. Rowe Price Group by 2.5% in the first quarter. Geode Capital Management LLC now owns 2,340,140 shares of the company’s stock worth $171,607,000 after buying an additional 56,299 shares in the last quarter. Finally, BlackRock Group LTD raised its stake in T. Rowe Price Group by 1.6% in the first quarter. BlackRock Group LTD now owns 1,980,109 shares of the company’s stock worth $145,459,000 after buying an additional 31,013 shares in the last quarter. 70.22% of the stock is owned by hedge funds and other institutional investors.

Shares of T. Rowe Price Group Inc. (NASDAQ:TROW) traded up 0.23% during midday trading on Wednesday, reaching $66.78. 246,277 shares of the company’s stock traded hands. T. Rowe Price Group Inc. has a 12 month low of $63.57 and a 12 month high of $79.00. The stock has a 50 day moving average of $68.68 and a 200-day moving average of $72.49. The stock has a market cap of $16.60 billion, a P/E ratio of 16.09 and a beta of 1.18.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings data on Tuesday, July 26th. The company reported $0.76 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.72 by $0.04. T. Rowe Price Group had a net margin of 25.77% and a return on equity of 22.25%. The company earned $1,000 million during the quarter, compared to analysts’ expectations of $1.03 billion. During the same period in the prior year, the company posted $1.24 earnings per share. T. Rowe Price Group’s revenue for the quarter was down 2.6% compared to the same quarter last year. On average, equities research analysts forecast that T. Rowe Price Group Inc. will post $4.22 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 29th. Stockholders of record on Thursday, September 15th will be given a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a dividend yield of 3.24%. The ex-dividend date is Tuesday, September 13th. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 52.17%.

A number of analysts have commented on TROW shares. Deutsche Bank AG lowered shares of T. Rowe Price Group from a “buy” rating to a “hold” rating and lowered their target price for the stock from $79.00 to $75.00 in a report on Wednesday, July 20th. TheStreet cut shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Tuesday, July 26th. Barclays PLC reduced their price target on shares of T. Rowe Price Group from $78.00 to $76.00 and set an “equal weight” rating on the stock in a research report on Tuesday, August 9th. Keefe, Bruyette & Woods reduced their price target on shares of T. Rowe Price Group from $81.00 to $75.00 and set a “market perform” rating on the stock in a research report on Wednesday, July 27th. Finally, Citigroup Inc. reduced their price target on shares of T. Rowe Price Group from $78.00 to $72.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 27th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $75.27.

About T. Rowe Price Group

T. Rowe Price Group, Inc is a financial services holding company. The Company provides global investment management services to individual and institutional investors in the sponsored T. Rowe Price mutual funds distributed in the United States and other investment portfolios. It operates through investment advisory business segment.

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