T. Rowe Price Group, Inc. (TROW) Shares Sold by Ameriprise Financial Inc.

Ameriprise Financial Inc. cut its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 39.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,600,206 shares of the asset manager’s stock after selling 1,033,230 shares during the quarter. Ameriprise Financial Inc. owned about 0.67% of T. Rowe Price Group worth $118,748,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Raymond James Trust N.A. grew its holdings in shares of T. Rowe Price Group by 72.3% during the second quarter. Raymond James Trust N.A. now owns 9,410 shares of the asset manager’s stock valued at $698,000 after buying an additional 3,949 shares during the last quarter. Stephens Inc. AR grew its holdings in shares of T. Rowe Price Group by 9.9% during the second quarter. Stephens Inc. AR now owns 76,725 shares of the asset manager’s stock valued at $5,694,000 after buying an additional 6,923 shares during the last quarter. Riverhead Capital Management LLC grew its holdings in shares of T. Rowe Price Group by 5.8% during the second quarter. Riverhead Capital Management LLC now owns 4,907 shares of the asset manager’s stock valued at $364,000 after buying an additional 271 shares during the last quarter. Coastline Trust Co grew its holdings in shares of T. Rowe Price Group by 2.3% during the second quarter. Coastline Trust Co now owns 14,285 shares of the asset manager’s stock valued at $1,060,000 after buying an additional 315 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in shares of T. Rowe Price Group by 110.4% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 23,891 shares of the asset manager’s stock valued at $1,773,000 after buying an additional 12,534 shares during the last quarter. 74.20% of the stock is currently owned by hedge funds and other institutional investors.

In related news, insider David Oestreicher sold 10,394 shares of the firm’s stock in a transaction dated Thursday, July 27th. The shares were sold at an average price of $83.07, for a total value of $863,429.58. Following the completion of the sale, the insider now owns 82,299 shares in the company, valued at $6,836,577.93. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jessica M. Hiebler sold 1,000 shares of the firm’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 completion of the sale, the insider now owns 8,461 shares of the company’s stock, valued at approximately $713,177.69. The disclosure for this sale can be found here. In the last ninety days, insiders sold 19,720 shares of company stock worth $1,630,701. Insiders own 3.60% of the company’s stock.

A number of research analysts recently issued reports on TROW shares. UBS AG restated a “sell” rating and set a $63.00 target price (up from $62.00) on shares of T. Rowe Price Group in a research report on Friday, July 14th. Citigroup Inc. boosted their target price on shares of T. Rowe Price Group from $73.50 to $90.00 and gave the company a “neutral” rating in a research report on Wednesday, July 26th. Zacks Investment Research upgraded shares of T. Rowe Price Group from a “hold” rating to a “buy” rating and set a $83.00 target price for the company in a research report on Wednesday, June 28th. BidaskClub downgraded shares of T. Rowe Price Group from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, August 1st. Finally, Credit Suisse Group boosted their target price on shares of T. Rowe Price Group from $70.00 to $90.00 and gave the company a “neutral” rating in a research report on Wednesday, July 26th. Four equities research analysts have rated the stock with a sell rating, seven have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $81.30.

T. Rowe Price Group, Inc. (NASDAQ TROW) opened at 84.72 on Friday. The company’s 50-day moving average is $83.30 and its 200-day moving average is $75.19. The firm has a market capitalization of $20.36 billion, a P/E ratio of 14.55 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.

T. Rowe Price Group (NASDAQ:TROW) last issued its earnings results on Tuesday, July 25th. The asset manager reported $1.28 earnings per share for the quarter, beating the Thomson Reuters’ 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 net margin of 32.64% and a return on equity of 24.38%. The business’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.76 earnings per share. On average, analysts predict that T. Rowe Price Group, Inc. will post $5.65 EPS for the current year.

The company 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 2.69%. The ex-dividend date of this dividend 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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