Commerce Bank reduced its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 7.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 106,354 shares of the asset manager’s stock after selling 8,581 shares during the period. Commerce Bank’s holdings in T. Rowe Price Group were worth $7,893,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in TROW. Mosaic Family Wealth LLC increased its position in shares of T. Rowe Price Group by 4.5% in the first quarter. Mosaic Family Wealth LLC now owns 1,967 shares of the asset manager’s stock worth $134,000 after buying an additional 85 shares in the last quarter. Benjamin F. Edwards & Company Inc. increased its position in shares of T. Rowe Price Group by 103.0% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,119 shares of the asset manager’s stock worth $157,000 after buying an additional 1,075 shares in the last quarter. FNY Partners Fund LP bought a new position in shares of T. Rowe Price Group during the first quarter worth $147,000. National Planning Corp bought a new position in shares of T. Rowe Price Group during the second quarter worth $209,000. Finally, Patriot Financial Group Insurance Agency LLC increased its position in shares of T. Rowe Price Group by 5.3% in the first quarter. Patriot Financial Group Insurance Agency LLC now owns 3,053 shares of the asset manager’s stock worth $210,000 after buying an additional 154 shares in the last quarter. 74.18% of the stock is owned by institutional investors.

T. Rowe Price Group, Inc. (TROW) opened at 84.22 on Thursday. The company’s 50-day moving average is $81.74 and its 200-day moving average is $73.85. T. Rowe Price Group, Inc. has a one year low of $62.97 and a one year high of $85.42. The firm has a market cap of $20.24 billion, a PE ratio of 14.46 and a beta of 1.24.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings data on Tuesday, July 25th. The asset manager reported $1.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.27 by $0.01. The business had revenue of $1.17 billion during 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%. The firm’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.76 earnings per share. On average, analysts forecast that T. Rowe Price Group, Inc. will post $5.66 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 28th. Shareholders of record on Thursday, September 14th will be issued a $0.57 dividend. The ex-dividend date is Wednesday, September 13th. This represents a $2.28 dividend on an annualized basis and a yield of 2.72%. T. Rowe Price Group’s dividend payout ratio (DPR) is 39.18%.

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A number of brokerages have weighed in on TROW. UBS AG reaffirmed a “sell” rating and issued a $61.00 target price (down from $77.00) on shares of T. Rowe Price Group in a research note on Wednesday, May 24th. BidaskClub downgraded shares of T. Rowe Price Group from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, August 1st. Jefferies Group LLC reissued a “buy” rating and set a $96.00 price target on shares of T. Rowe Price Group in a research note on Sunday, August 20th. Zacks Investment Research downgraded shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Monday, August 21st. Finally, Wells Fargo & Company reissued a “market perform” rating on shares of T. Rowe Price Group in a research note on Thursday, July 27th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. T. Rowe Price Group has a consensus rating of “Hold” and an average target price of $79.20.

In other T. Rowe Price Group news, insider David Oestreicher sold 10,394 shares of the stock in a transaction on Thursday, July 27th. The stock was sold at an average price of $83.07, for a total value of $863,429.58. Following the completion of the transaction, the insider now owns 82,299 shares in the company, valued at $6,836,577.93. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Anne M. Whittemore sold 8,326 shares of the stock in a transaction on Thursday, July 27th. The stock was 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 of the company’s stock, valued at approximately $2,377,393.46. The disclosure for this sale can be found here. 3.60% of the stock is currently owned by corporate insiders.

T. Rowe Price Group Company Profile

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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