Candriam S.C.A. Sells 3,691 Shares of T. Rowe Price Group, Inc. $TROW

Key Points

• Candriam S.C.A. reduced its stake in T. Rowe Price Group by 12.6%, selling 3,691 shares, leaving them with 25,695 shares valued at approximately $2.36 million.
• Several institutional investors have increased their holdings in T. Rowe Price Group, notably Wealthfront Advisers LLC with a 109.2% increase and GAMMA Investing LLC with a 9,555.5% increase.
• T. Rowe Price Group announced a quarterly dividend of $1.27 per share, with an ex-dividend date of September 15, representing an annualized dividend yield of 4.7%.

Candriam S.C.A. trimmed its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 12.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 25,695 shares of the asset manager's stock after selling 3,691 shares during the period. Candriam S.C.A.'s holdings in T. Rowe Price Group were worth $2,361,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Exchange Traded Concepts LLC increased its stake in T. Rowe Price Group by 27.9% during the first quarter. Exchange Traded Concepts LLC now owns 971 shares of the asset manager's stock valued at $89,000 after acquiring an additional 212 shares during the period. Wealthfront Advisers LLC grew its stake in shares of T. Rowe Price Group by 109.2% in the 1st quarter. Wealthfront Advisers LLC now owns 69,326 shares of the asset manager's stock valued at $6,369,000 after purchasing an additional 36,190 shares during the period. Mather Group LLC. grew its stake in shares of T. Rowe Price Group by 11.9% in the 1st quarter. Mather Group LLC. now owns 135,571 shares of the asset manager's stock valued at $12,455,000 after purchasing an additional 14,371 shares during the period. GAMMA Investing LLC grew its stake in shares of T. Rowe Price Group by 9,555.5% in the 1st quarter. GAMMA Investing LLC now owns 333,212 shares of the asset manager's stock valued at $30,612,000 after purchasing an additional 329,761 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in shares of T. Rowe Price Group by 12.8% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 213,769 shares of the asset manager's stock valued at $19,575,000 after purchasing an additional 24,323 shares during the period. 73.39% of the stock is currently owned by institutional investors.

Insider Transactions at T. Rowe Price Group

In other T. Rowe Price Group news, VP Dorothy C. Sawyer sold 2,000 shares of the company's stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $95.43, for a total transaction of $190,860.00. Following the transaction, the vice president owned 44,789 shares of the company's stock, valued at approximately $4,274,214.27. This represents a 4.27% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.00% of the company's stock.

T. Rowe Price Group Price Performance

Shares of TROW opened at $108.29 on Friday. The company has a market capitalization of $23.79 billion, a P/E ratio of 12.10, a PEG ratio of 2.84 and a beta of 1.47. T. Rowe Price Group, Inc. has a one year low of $77.85 and a one year high of $125.81. The business's 50 day simple moving average is $102.12 and its 200-day simple moving average is $97.51.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last posted its quarterly earnings data on Friday, August 1st. The asset manager reported $2.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.09. T. Rowe Price Group had a return on equity of 19.77% and a net margin of 28.72%.The firm had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.72 billion. During the same quarter in the prior year, the business earned $2.26 EPS. The business's revenue for the quarter was down .6% compared to the same quarter last year. On average, sell-side analysts anticipate that T. Rowe Price Group, Inc. will post 9.29 EPS for the current fiscal year.

T. Rowe Price Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Monday, September 15th will be issued a dividend of $1.27 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $5.08 annualized dividend and a yield of 4.7%. T. Rowe Price Group's dividend payout ratio is currently 56.76%.

Analyst Ratings Changes

TROW has been the topic of several analyst reports. Keefe, Bruyette & Woods upped their price objective on T. Rowe Price Group from $110.00 to $112.00 and gave the company a "market perform" rating in a research note on Monday, August 4th. Barclays reiterated an "underweight" rating and issued a $95.00 price objective (up from $91.00) on shares of T. Rowe Price Group in a research note on Monday, August 4th. Morgan Stanley upped their price objective on T. Rowe Price Group from $112.00 to $116.00 and gave the company an "equal weight" rating in a research note on Monday, August 4th. Cowen reiterated a "hold" rating on shares of T. Rowe Price Group in a research note on Monday, May 5th. Finally, Wells Fargo & Company upped their price objective on T. Rowe Price Group from $98.00 to $108.00 and gave the company an "equal weight" rating in a research note on Friday, July 11th. Eight research analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Reduce" and an average price target of $101.09.

T. Rowe Price Group Company Profile

T. Rowe Price Group, Inc is a publicly owned investment manager. The firm provides its services to individuals, institutional investors, retirement plans, financial intermediaries, and institutions. It launches and manages equity and fixed income mutual funds. The firm invests in the public equity and fixed income markets across the globe.

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