T. Rowe Price Group, Inc. $TROW Shares Bought by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC grew its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 90.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,284 shares of the asset manager’s stock after purchasing an additional 8,230 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in T. Rowe Price Group were worth $1,965,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. California State Teachers Retirement System raised its holdings in shares of T. Rowe Price Group by 10,632.8% in the second quarter. California State Teachers Retirement System now owns 45,287,275 shares of the asset manager’s stock worth $5,148,710,000 after acquiring an additional 44,865,323 shares during the last quarter. BlackRock Inc. acquired a new stake in shares of T. Rowe Price Group during the second quarter valued at $2,728,119,000. Goldman Sachs Group Inc. increased its position in T. Rowe Price Group by 332.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 8,770,071 shares of the asset manager’s stock worth $897,880,000 after purchasing an additional 6,740,172 shares in the last quarter. Legal & General Group Plc purchased a new stake in T. Rowe Price Group during the 2nd quarter worth about $183,130,000. Finally, Bank of America Corp DE purchased a new position in T. Rowe Price Group in the 2nd quarter valued at about $170,572,000. 73.39% of the stock is owned by hedge funds and other institutional investors.

T. Rowe Price Group Stock Down 0.5%

NASDAQ:TROW opened at $105.80 on Tuesday. The company has a market cap of $22.57 billion, a P/E ratio of 10.61, a P/E/G ratio of 3.52 and a beta of 1.46. The firm’s 50 day moving average is $113.56 and its two-hundred day moving average is $104.52. T. Rowe Price Group, Inc. has a fifty-two week low of $85.22 and a fifty-two week high of $122.00.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings data on Friday, July 31st. The asset manager reported $2.57 EPS for the quarter, topping analysts’ consensus estimates of $2.52 by $0.05. The business had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.89 billion. T. Rowe Price Group had a return on equity of 20.91% and a net margin of 29.26%.The business’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same period in the prior year, the firm posted $2.24 EPS. Research analysts forecast that T. Rowe Price Group, Inc. will post 10.16 earnings per share for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 15th will be paid a dividend of $1.30 per share. The ex-dividend date is Tuesday, September 15th. This represents a $5.20 annualized dividend and a yield of 4.9%. T. Rowe Price Group’s dividend payout ratio is currently 52.16%.

Insider Buying and Selling at T. Rowe Price Group

In other news, VP Joshua Nelson sold 10,000 shares of T. Rowe Price Group stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $111.82, for a total value of $1,118,200.00. Following the transaction, the vice president directly owned 71,328 shares of the company’s stock, valued at $7,975,896.96. The trade was a 12.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 1.60% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Morgan Stanley set a $116.00 price target on shares of T. Rowe Price Group in a report on Wednesday, July 29th. The Goldman Sachs Group upped their price objective on shares of T. Rowe Price Group from $90.00 to $92.00 and gave the company a “sell” rating in a research note on Tuesday, June 30th. Zacks Research cut shares of T. Rowe Price Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 13th. Evercore set a $118.00 price target on T. Rowe Price Group in a report on Monday, August 10th. Finally, TD Cowen increased their price target on T. Rowe Price Group from $108.00 to $110.00 and gave the stock a “hold” rating in a research note on Monday, August 31st. One research analyst has rated the stock with a Buy rating, nine have assigned a Hold rating and four have issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Reduce” and an average price target of $106.15.

T. Rowe Price Group Profile

T. Rowe Price Group, Inc is a global investment management firm headquartered in Baltimore, Maryland. Founded in 1937 by Thomas Rowe Price Jr., the company provides investment management, advisory and related services to individual investors, retirement plans, institutions, financial intermediaries and other clients.

The company offers a broad range of investment products and strategies, including mutual funds, exchange-traded funds, separately managed accounts and institutional portfolios.