Commerzbank Aktiengesellschaft FI Purchases 1,281 Shares of T. Rowe Price Group, Inc. $TROW

Commerzbank Aktiengesellschaft FI grew its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 6.4% in the second quarter, Holdings Channel reports. The fund owned 21,186 shares of the asset manager’s stock after acquiring an additional 1,281 shares during the quarter. Commerzbank Aktiengesellschaft FI’s holdings in T. Rowe Price Group were worth $2,045,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of TROW. Park Avenue Securities LLC lifted its stake in shares of T. Rowe Price Group by 16.5% in the 1st quarter. Park Avenue Securities LLC now owns 4,879 shares of the asset manager’s stock valued at $448,000 after acquiring an additional 691 shares during the last quarter. Farther Finance Advisors LLC raised its position in T. Rowe Price Group by 75.8% during the 1st quarter. Farther Finance Advisors LLC now owns 7,949 shares of the asset manager’s stock worth $733,000 after purchasing an additional 3,427 shares during the last quarter. GAMMA Investing LLC raised its position in T. Rowe Price Group by 5.1% during the 1st quarter. GAMMA Investing LLC now owns 3,627 shares of the asset manager’s stock worth $333,000 after purchasing an additional 176 shares during the last quarter. Handelsbanken Fonder AB raised its position in T. Rowe Price Group by 4.8% during the 1st quarter. Handelsbanken Fonder AB now owns 49,745 shares of the asset manager’s stock worth $4,570,000 after purchasing an additional 2,297 shares during the last quarter. Finally, Integrated Advisors Network LLC bought a new position in T. Rowe Price Group during the 1st quarter worth $271,000. 73.39% of the stock is currently owned by institutional investors.

T. Rowe Price Group Price Performance

Shares of TROW opened at $101.43 on Friday. The stock has a 50-day moving average of $105.82 and a 200-day moving average of $98.43. The company has a market cap of $22.29 billion, a PE ratio of 11.33, a P/E/G ratio of 6.84 and a beta of 1.50. T. Rowe Price Group, Inc. has a one year low of $77.85 and a one year high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last issued its earnings results on Friday, August 1st. The asset manager reported $2.24 EPS for the quarter, beating the consensus estimate of $2.15 by $0.09. The company had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.72 billion. T. Rowe Price Group had a return on equity of 19.77% and a net margin of 28.72%.The firm’s revenue for the quarter was down .6% compared to the same quarter last year. During the same period last year, the business posted $2.26 EPS. Analysts expect that T. Rowe Price Group, Inc. will post 9.29 EPS for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Monday, September 15th were paid a $1.27 dividend. The ex-dividend date was Monday, September 15th. This represents a $5.08 annualized dividend and a dividend yield of 5.0%. T. Rowe Price Group’s dividend payout ratio (DPR) is currently 56.76%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on TROW shares. Barclays reaffirmed an “underweight” rating and set a $95.00 target price (up from $91.00) on shares of T. Rowe Price Group in a research report on Monday, August 4th. Bank of America raised their target price on T. Rowe Price Group from $91.00 to $97.00 and gave the stock an “underperform” rating in a research report on Thursday, October 2nd. Wells Fargo & Company raised their target price on T. Rowe Price Group from $98.00 to $108.00 and gave the stock an “equal weight” rating in a research report on Friday, July 11th. Deutsche Bank Aktiengesellschaft lifted their price objective on T. Rowe Price Group from $109.00 to $114.00 and gave the stock a “hold” rating in a research report on Thursday. Finally, JPMorgan Chase & Co. lifted their price objective on T. Rowe Price Group from $98.00 to $102.00 and gave the stock an “underweight” rating in a research report on Monday, August 4th. One research analyst has rated the stock with a Buy rating, eleven have issued a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat, T. Rowe Price Group currently has an average rating of “Reduce” and an average target price of $104.69.

Insider Activity at T. Rowe Price Group

In other news, Director Robert F. Maclellan sold 3,090 shares of the firm’s stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $105.01, for a total value of $324,480.90. Following the completion of the sale, the director directly owned 47,335 shares in the company, valued at $4,970,648.35. This trade represents a 6.13% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 2.00% of the stock is currently owned by corporate insiders.

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.