Greenwich Investment Management Inc. reduced its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 5.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 69,658 shares of the asset manager’s stock after selling 4,140 shares during the period. T. Rowe Price Group makes up approximately 6.0% of Greenwich Investment Management Inc.’s investment portfolio, making the stock its 3rd biggest position. Greenwich Investment Management Inc.’s holdings in T. Rowe Price Group were worth $5,169,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of TROW. Vanguard Group Inc. lifted its stake in T. Rowe Price Group by 1.7% during the second quarter. Vanguard Group Inc. now owns 16,576,728 shares of the asset manager’s stock worth $1,230,159,000 after purchasing an additional 282,162 shares during the last quarter. BlackRock Inc. lifted its stake in T. Rowe Price Group by 0.4% during the second quarter. BlackRock Inc. now owns 16,440,056 shares of the asset manager’s stock worth $1,220,017,000 after purchasing an additional 61,269 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in T. Rowe Price Group by 1.3% during the second quarter. JPMorgan Chase & Co. now owns 11,756,348 shares of the asset manager’s stock worth $872,439,000 after purchasing an additional 156,326 shares during the last quarter. Geode Capital Management LLC lifted its stake in T. Rowe Price Group by 8.8% during the first quarter. Geode Capital Management LLC now owns 2,818,756 shares of the asset manager’s stock worth $191,869,000 after purchasing an additional 228,194 shares during the last quarter. Finally, American Century Companies Inc. lifted its stake in T. Rowe Price Group by 66.4% during the second quarter. American Century Companies Inc. now owns 2,544,655 shares of the asset manager’s stock worth $188,839,000 after purchasing an additional 1,015,518 shares during the last quarter. Institutional investors and hedge funds own 73.62% of the company’s stock.

TROW has been the subject of several recent analyst reports. Morgan Stanley restated an “underweight” rating and set a $70.00 target price (up from $64.00) on shares of T. Rowe Price Group in a research note on Monday, July 10th. Jefferies Group LLC set a $83.00 target price on T. Rowe Price Group and gave the stock a “buy” rating in a research note on Tuesday, June 20th. Credit Suisse Group upped their price target on shares of T. Rowe Price Group from $70.00 to $90.00 and gave the stock a “neutral” rating in a report on Wednesday, July 26th. Citigroup Inc. upped their price target on shares of T. Rowe Price Group from $73.50 to $90.00 and gave the stock a “neutral” rating in a report on Wednesday, July 26th. Finally, ValuEngine downgraded shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Four investment analysts have rated the stock with a sell rating, seven have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $81.30.

In related news, insider David Oestreicher sold 10,394 shares of the business’s stock in a transaction dated Thursday, July 27th. The shares were sold at an average price of $83.07, for a total transaction of $863,429.58. Following the transaction, the insider now owns 82,299 shares in the company, valued at $6,836,577.93. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Jessica M. Hiebler sold 1,000 shares of the business’s stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $84.29, for a total transaction of $84,290.00. Following the transaction, the insider now owns 8,461 shares in the company, valued at approximately $713,177.69. The disclosure for this sale can be found here. Insiders sold 19,720 shares of company stock worth $1,630,701 in the last 90 days. Corporate insiders own 3.60% of the company’s stock.

Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) traded up 0.84% during mid-day trading on Friday, reaching $86.69. 708,273 shares of the company’s stock were exchanged. The company has a 50 day moving average price of $83.46 and a 200-day moving average price of $75.43. T. Rowe Price Group, Inc. has a one year low of $62.97 and a one year high of $86.77. The stock has a market cap of $20.84 billion, a PE ratio of 14.88 and a beta of 1.24.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings data on Tuesday, July 25th. The asset manager reported $1.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.27 by $0.01. T. Rowe Price Group had a net margin of 32.64% and a return on equity of 24.38%. The firm had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.16 billion. During the same quarter in the previous year, the company earned $0.76 earnings per share. The company’s revenue for the quarter was up 12.1% compared to the same quarter last year. On average, analysts predict that T. Rowe Price Group, Inc. will post $5.65 EPS for the current 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 given a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.63%. The ex-dividend date is Wednesday, September 13th. T. Rowe Price Group’s payout ratio is 39.18%.

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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.

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

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