Zurich Insurance Group Ltd FI increased its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 80.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 60,245 shares of the asset manager’s stock after purchasing an additional 26,906 shares during the quarter. Zurich Insurance Group Ltd FI’s holdings in T. Rowe Price Group were worth $4,471,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of the stock. Russell Investments Group Ltd. increased its stake in T. Rowe Price Group by 11.2% in the 1st quarter. Russell Investments Group Ltd. now owns 40,642 shares of the asset manager’s stock valued at $2,771,000 after buying an additional 4,086 shares during the period. UBS Asset Management Americas Inc. lifted its position in T. Rowe Price Group by 10.7% in the 1st quarter. UBS Asset Management Americas Inc. now owns 1,374,372 shares of the asset manager’s stock worth $93,663,000 after buying an additional 132,516 shares in the last quarter. First National Trust Co. purchased a new stake in T. Rowe Price Group in the 1st quarter worth approximately $954,000. Dean Investment Associates LLC boosted its stake in shares of T. Rowe Price Group by 60.2% during the 1st quarter. Dean Investment Associates LLC now owns 29,500 shares of the asset manager’s stock valued at $2,010,000 after buying an additional 11,086 shares during the period. Finally, Great Lakes Advisors LLC boosted its stake in shares of T. Rowe Price Group by 53.6% during the 1st quarter. Great Lakes Advisors LLC now owns 9,731 shares of the asset manager’s stock valued at $663,000 after buying an additional 3,395 shares during the period. Institutional investors and hedge funds own 73.62% of the company’s stock.

In related news, insider David Oestreicher sold 10,394 shares of T. Rowe Price Group stock in a transaction dated Thursday, July 27th. The stock was sold at an average price of $83.07, for a total value of $863,429.58. Following the sale, the insider now owns 82,299 shares of the company’s stock, valued at $6,836,577.93. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jessica M. Hiebler sold 1,000 shares of T. Rowe Price Group stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $84.29, for a total value of $84,290.00. Following the completion of the sale, the insider now directly owns 8,461 shares in the company, valued at approximately $713,177.69. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 19,720 shares of company stock valued at $1,630,701. Company insiders own 3.60% of the company’s stock.

Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) traded down 0.66% on Tuesday, hitting $90.08. The company had a trading volume of 94,694 shares. The firm has a market capitalization of $21.65 billion, a P/E ratio of 15.47 and a beta of 1.25. T. Rowe Price Group, Inc. has a 12-month low of $62.97 and a 12-month high of $91.19. The firm has a 50 day moving average of $84.75 and a 200-day moving average of $76.52.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings results on Tuesday, July 25th. The asset manager reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analyst estimates of $1.16 billion. During the same period in the previous year, the business earned $0.76 EPS. The company’s revenue was up 12.1% compared to the same quarter last year. On average, equities analysts predict that T. Rowe Price Group, Inc. will post $5.65 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 28th. Stockholders of record on Thursday, September 14th were paid a dividend of $0.57 per share. The ex-dividend date was Wednesday, September 13th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.51%. T. Rowe Price Group’s dividend payout ratio is 39.18%.

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Several equities analysts have recently commented on the stock. BidaskClub upgraded shares of T. Rowe Price Group from a “buy” rating to a “strong-buy” rating in a report on Wednesday, June 14th. Jefferies Group LLC set a $83.00 price target on shares of T. Rowe Price Group and gave the stock a “buy” rating in a research note on Tuesday, June 20th. Zacks Investment Research upgraded T. Rowe Price Group from a “hold” rating to a “buy” rating and set a $83.00 price objective for the company in a report on Wednesday, June 28th. Morgan Stanley reiterated an “underweight” rating and set a $70.00 price objective (up from $64.00) on shares of T. Rowe Price Group in a report on Monday, July 10th. Finally, UBS AG reissued a “sell” rating and set a $63.00 price objective (up previously from $62.00) on shares of T. Rowe Price Group in a research report on Friday, July 14th. Four research analysts have rated the stock with a sell rating, six have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $83.45.

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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