Confluence Investment Management LLC Decreases Position in T. Rowe Price Group, Inc. $TROW

Confluence Investment Management LLC lessened its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 1.0% during the second quarter, Holdings Channel.com reports. The firm owned 948,453 shares of the asset manager’s stock after selling 9,889 shares during the quarter. Confluence Investment Management LLC’s holdings in T. Rowe Price Group were worth $91,526,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. Cooper Financial Group lifted its stake in shares of T. Rowe Price Group by 5.2% in the first quarter. Cooper Financial Group now owns 2,234 shares of the asset manager’s stock worth $205,000 after buying an additional 110 shares in the last quarter. Hexagon Capital Partners LLC raised its holdings in shares of T. Rowe Price Group by 44.8% during the first quarter. Hexagon Capital Partners LLC now owns 365 shares of the asset manager’s stock valued at $34,000 after purchasing an additional 113 shares during the last quarter. Associated Banc Corp raised its holdings in shares of T. Rowe Price Group by 0.5% during the first quarter. Associated Banc Corp now owns 24,864 shares of the asset manager’s stock valued at $2,284,000 after purchasing an additional 114 shares during the last quarter. Wealthcare Capital Partners LLC increased its holdings in T. Rowe Price Group by 1.2% during the first quarter. Wealthcare Capital Partners LLC now owns 9,429 shares of the asset manager’s stock valued at $866,000 after buying an additional 115 shares during the last quarter. Finally, Cullen Investment Group LTD. increased its holdings in T. Rowe Price Group by 0.9% during the first quarter. Cullen Investment Group LTD. now owns 13,554 shares of the asset manager’s stock valued at $1,245,000 after buying an additional 117 shares during the last quarter. Hedge funds and other institutional investors own 73.39% of the company’s stock.

T. Rowe Price Group Stock Performance

Shares of NASDAQ:TROW opened at $105.63 on Friday. The firm has a fifty day moving average price of $105.69 and a 200 day moving average price of $97.53. T. Rowe Price Group, Inc. has a fifty-two week low of $77.85 and a fifty-two week high of $125.81. The firm has a market cap of $23.21 billion, a price-to-earnings ratio of 11.80, a P/E/G ratio of 2.76 and a beta of 1.51.

T. Rowe Price Group (NASDAQ:TROW) last issued its earnings results on Friday, August 1st. The asset manager reported $2.24 earnings per share for the quarter, topping analysts’ consensus estimates of $2.15 by $0.09. T. Rowe Price Group had a net margin of 28.72% and a return on equity of 19.77%. The firm had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.72 billion. During the same quarter in the prior year, the business earned $2.26 earnings per share. T. Rowe Price Group’s revenue for the quarter was down .6% on a year-over-year basis. As a group, research analysts predict that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Monday, September 15th will be given a dividend of $1.27 per share. The ex-dividend date is Monday, September 15th. This represents a $5.08 annualized dividend and a yield of 4.8%. T. Rowe Price Group’s dividend payout ratio (DPR) is 56.76%.

Analyst Upgrades and Downgrades

TROW has been the subject of a number of research reports. 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 report on Monday, August 4th. JPMorgan Chase & Co. increased their price objective on shares of T. Rowe Price Group from $98.00 to $102.00 and gave the stock an “underweight” rating in a research note on Monday, August 4th. Zacks Research cut shares of T. Rowe Price Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 8th. Keefe, Bruyette & Woods increased their price objective on shares of T. Rowe Price Group from $110.00 to $112.00 and gave the stock a “market perform” rating in a research note on Monday, August 4th. Finally, Evercore ISI reissued a “positive” rating on shares of T. Rowe Price Group in a research note on Friday, September 5th. One equities research analyst has rated the stock with a Buy rating, eight have given a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, T. Rowe Price Group presently has an average rating of “Reduce” and a consensus price target of $101.55.

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.