JPMorgan Chase & Co. increased its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 1.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,756,348 shares of the asset manager’s stock after buying an additional 156,326 shares during the period. JPMorgan Chase & Co. owned about 4.89% of T. Rowe Price Group worth $872,439,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TROW. BlackRock Inc. raised its position in T. Rowe Price Group by 1,722.6% in the first quarter. BlackRock Inc. now owns 16,378,787 shares of the asset manager’s stock worth $1,116,214,000 after buying an additional 15,480,155 shares during the last quarter. Geode Capital Management LLC raised its position in shares of T. Rowe Price Group by 8.8% in the first quarter. Geode Capital Management LLC now owns 2,818,756 shares of the asset manager’s stock worth $191,869,000 after buying an additional 228,194 shares in the last quarter. American Century Companies Inc. raised its position in shares of T. Rowe Price Group by 66.4% in the second quarter. American Century Companies Inc. now owns 2,544,655 shares of the asset manager’s stock worth $188,839,000 after buying an additional 1,015,518 shares in the last quarter. Thomaspartners Inc. raised its position in shares of T. Rowe Price Group by 12.6% in the first quarter. Thomaspartners Inc. now owns 2,208,621 shares of the asset manager’s stock worth $150,518,000 after buying an additional 246,695 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its position in shares of T. Rowe Price Group by 15.6% in the first quarter. PNC Financial Services Group Inc. now owns 2,001,852 shares of the asset manager’s stock worth $136,428,000 after buying an additional 270,081 shares in the last quarter. 74.18% of the stock is currently owned by institutional investors and hedge funds.

T. Rowe Price Group, Inc. (TROW) traded down 0.09% during mid-day trading on Friday, reaching $84.28. The company had a trading volume of 856,962 shares. The stock has a market capitalization of $20.26 billion, a price-to-earnings ratio of 14.47 and a beta of 1.24. T. Rowe Price Group, Inc. has a 52-week low of $62.97 and a 52-week high of $85.42. The company’s 50 day moving average is $82.78 and its 200 day moving average is $74.41.

T. Rowe Price Group (NASDAQ:TROW) last announced its earnings results on Tuesday, July 25th. The asset manager reported $1.28 EPS for the quarter, topping the consensus estimate of $1.27 by $0.01. The business had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.16 billion. T. Rowe Price Group had a return on equity of 24.38% and a net margin of 32.64%. T. Rowe Price Group’s revenue was up 12.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.76 EPS. Equities analysts predict that T. Rowe Price Group, Inc. will post $5.66 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 28th. Stockholders of record on Thursday, September 14th will be issued a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 2.71%. The ex-dividend date is Wednesday, September 13th. T. Rowe Price Group’s payout ratio is currently 39.18%.

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A number of research firms have commented on TROW. Citigroup Inc. boosted their target price on T. Rowe Price Group from $73.50 to $90.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 26th. BidaskClub upgraded T. Rowe Price Group from a “buy” rating to a “strong-buy” rating in a research report on Monday, August 14th. Credit Suisse Group boosted their target price on T. Rowe Price Group from $70.00 to $90.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 26th. Wells Fargo & Company restated a “market perform” rating on shares of T. Rowe Price Group in a research report on Thursday, July 27th. Finally, ValuEngine upgraded T. Rowe Price Group from a “hold” rating to a “buy” rating in a research report on Wednesday, August 2nd. Three analysts have rated the stock with a sell rating, eight have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. T. Rowe Price Group has an average rating of “Hold” and a consensus target price of $79.20.

In related news, Director Anne M. Whittemore sold 8,326 shares of the business’s stock in a transaction that occurred on Thursday, July 27th. The shares were sold at an average price of $82.03, for a total value of $682,981.78. Following the completion of the transaction, the director now owns 28,982 shares in the company, valued at approximately $2,377,393.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider David Oestreicher sold 10,394 shares of the business’s stock in a transaction that occurred on Thursday, July 27th. The stock was sold at an average price of $83.07, for a total transaction of $863,429.58. Following the completion of the transaction, the insider now owns 82,299 shares of the company’s stock, valued at approximately $6,836,577.93. The disclosure for this sale can be found here. Insiders sold a total of 19,720 shares of company stock worth $1,630,701 over the last three months. 3.60% of the stock is owned by company insiders.

About T. Rowe Price Group

T. Rowe Price Group, Inc is a financial services holding company. The Company provides global investment management services through its subsidiaries to investors across the world. The Company provides an array of Company sponsored the United States mutual funds, other sponsored pooled investment vehicles, sub advisory services, separate account management, recordkeeping, and related services to individuals, advisors, institutions, financial intermediaries and retirement plan sponsors.

Institutional Ownership by Quarter for T. Rowe Price Group (NASDAQ:TROW)

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