Fort Washington Investment Advisors Inc. OH Has $29.70 Million Stock Holdings in T. Rowe Price Group, Inc. $TROW

Key Points

• Fort Washington Investment Advisors Inc. increased its stake in T. Rowe Price Group by 1.3% in Q2, bringing its total holdings to approximately 307,785 shares valued at $29.7 million.
• Several institutional investors, including Vanguard Group and Invesco Ltd., have also increased their positions in T. Rowe Price Group, indicating strong institutional interest.
• T. Rowe Price Group announced a quarterly dividend of $1.27 per share, with a dividend yield of 4.9% and a payout ratio of 56.76%.

Fort Washington Investment Advisors Inc. OH increased its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 1.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 307,785 shares of the asset manager's stock after purchasing an additional 3,952 shares during the quarter. Fort Washington Investment Advisors Inc. OH owned approximately 0.14% of T. Rowe Price Group worth $29,701,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in T. Rowe Price Group by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 26,286,393 shares of the asset manager's stock valued at $2,414,931,000 after acquiring an additional 222,556 shares during the period. Charles Schwab Investment Management Inc. increased its position in T. Rowe Price Group by 7.2% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 7,706,251 shares of the asset manager's stock valued at $707,973,000 after acquiring an additional 519,075 shares during the period. Invesco Ltd. increased its position in T. Rowe Price Group by 43.2% in the 1st quarter. Invesco Ltd. now owns 3,433,684 shares of the asset manager's stock valued at $315,453,000 after acquiring an additional 1,035,865 shares during the period. American Century Companies Inc. increased its position in T. Rowe Price Group by 4.9% in the 1st quarter. American Century Companies Inc. now owns 2,955,703 shares of the asset manager's stock valued at $271,541,000 after acquiring an additional 138,515 shares during the period. Finally, Northern Trust Corp increased its position in T. Rowe Price Group by 3.6% in the 1st quarter. Northern Trust Corp now owns 2,374,063 shares of the asset manager's stock valued at $218,105,000 after acquiring an additional 83,324 shares during the period. 73.39% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at T. Rowe Price Group

In related news, Director Robert F. Maclellan sold 3,090 shares of the stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $105.01, for a total transaction of $324,480.90. Following the transaction, the director directly owned 47,335 shares of the company's stock, valued at $4,970,648.35. This represents a 6.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.00% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on TROW. Keefe, Bruyette & Woods upped their price target on shares of T. Rowe Price Group from $110.00 to $112.00 and gave the company a "market perform" rating in a research report on Monday, August 4th. Morgan Stanley upped their price target on shares of T. Rowe Price Group from $112.00 to $116.00 and gave the company an "equal weight" rating in a research report on Monday, August 4th. Barclays restated an "underweight" rating and issued a $95.00 price target (up from $91.00) on shares of T. Rowe Price Group in a research report on Monday, August 4th. Wells Fargo & Company upped their price objective on shares of 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. Finally, Zacks Research lowered shares of T. Rowe Price Group from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 8th. One investment analyst has rated the stock with a Buy rating, eight have given a Hold rating and four have given a Sell rating to the company's stock. Based on data from MarketBeat, T. Rowe Price Group has a consensus rating of "Reduce" and a consensus price target of $101.55.

T. Rowe Price Group Stock Up 0.3%

Shares of NASDAQ TROW opened at $103.47 on Friday. The firm has a market cap of $22.73 billion, a PE ratio of 11.56, a P/E/G ratio of 2.68 and a beta of 1.51. T. Rowe Price Group, Inc. has a 12-month low of $77.85 and a 12-month high of $125.81. The company's fifty day simple moving average is $106.13 and its 200 day simple moving average is $97.78.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last issued its earnings results 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. The business had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.72 billion. T. Rowe Price Group had a net margin of 28.72% and a return on equity of 19.77%. T. Rowe Price Group's revenue was down .6% on a year-over-year basis. During the same period in the prior year, the firm earned $2.26 earnings per share. On average, equities analysts predict that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Monday, September 15th will be paid 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 4.9%. T. Rowe Price Group's dividend payout ratio is currently 56.76%.

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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