T. Rowe Price Group, Inc. $TROW Stock Holdings Lessened by Sprucegrove Investment Management Ltd.

Key Points

• Sprucegrove Investment Management Ltd. has reduced its stake in T. Rowe Price Group by 20.9%, selling 47,234 shares, and now holds 178,868 shares, accounting for approximately 1.4% of its investment portfolio.
• T. Rowe Price Group reported earnings of $2.24 per share for the quarter, exceeding analyst expectations, while also announcing a quarterly dividend of $1.27 per share, yielding 4.7% annually.
• Institutional investors own 73.39% of T. Rowe Price Group's stock, with several recent purchases, indicating continued confidence in the asset management firm.

Sprucegrove Investment Management Ltd. decreased its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 20.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 178,868 shares of the asset manager's stock after selling 47,234 shares during the quarter. T. Rowe Price Group makes up about 1.4% of Sprucegrove Investment Management Ltd.'s investment portfolio, making the stock its 14th largest position. Sprucegrove Investment Management Ltd. owned 0.08% of T. Rowe Price Group worth $16,433,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently bought and sold shares of the company. Cooper Financial Group raised its position in shares of T. Rowe Price Group by 5.2% in the first quarter. Cooper Financial Group now owns 2,234 shares of the asset manager's stock worth $205,000 after buying an additional 110 shares in the last quarter. Hexagon Capital Partners LLC lifted its holdings in shares of T. Rowe Price Group by 44.8% during the first quarter. Hexagon Capital Partners LLC now owns 365 shares of the asset manager's stock valued at $34,000 after purchasing an additional 113 shares during the last quarter. Associated Banc Corp raised its holdings in T. Rowe Price Group by 0.5% in the 1st quarter. Associated Banc Corp now owns 24,864 shares of the asset manager's stock worth $2,284,000 after acquiring an additional 114 shares during the last quarter. Wealthcare Capital Partners LLC raised its holdings in T. Rowe Price Group by 1.2% in the 1st quarter. Wealthcare Capital Partners LLC now owns 9,429 shares of the asset manager's stock worth $866,000 after acquiring an additional 115 shares during the last quarter. Finally, Cullen Investment Group LTD. grew its position in shares of T. Rowe Price Group by 0.9% during the 1st quarter. Cullen Investment Group LTD. now owns 13,554 shares of the asset manager's stock valued at $1,245,000 after acquiring an additional 117 shares during the period. Institutional investors and hedge funds own 73.39% of the company's stock.

Insider Buying and Selling at T. Rowe Price Group

In other news, VP Dorothy C. Sawyer sold 2,000 shares of the firm's stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $95.43, for a total transaction of $190,860.00. Following the completion of the transaction, the vice president owned 44,789 shares in the company, valued at approximately $4,274,214.27. This trade represents a 4.27% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 2.00% of the company's stock.

T. Rowe Price Group Stock Down 1.6%

Shares of NASDAQ TROW traded down $1.6420 during midday trading on Thursday, hitting $104.1180. The company had a trading volume of 303,433 shares, compared to its average volume of 1,786,879. T. Rowe Price Group, Inc. has a twelve month low of $77.85 and a twelve month high of $125.81. The business has a 50-day simple moving average of $101.59 and a two-hundred day simple moving average of $97.73. The firm has a market capitalization of $22.88 billion, a price-to-earnings ratio of 11.64, a price-to-earnings-growth ratio of 2.79 and a beta of 1.47.

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

T. Rowe Price Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Monday, September 15th will be given a dividend of $1.27 per share. The ex-dividend date is Monday, September 15th. This represents a $5.08 annualized dividend and a dividend yield of 4.9%. T. Rowe Price Group's dividend payout ratio (DPR) is 56.76%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on TROW. Evercore ISI upped their target price on shares of T. Rowe Price Group from $106.00 to $110.00 and gave the company an "in-line" rating in a research report on Monday, August 4th. Cowen reissued a "hold" rating on shares of T. Rowe Price Group in a report on Monday, May 5th. Barclays restated an "underweight" rating and set 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 stock an "equal weight" rating in a report on Friday, July 11th. Finally, JPMorgan Chase & Co. increased their target price on shares of T. Rowe Price Group from $98.00 to $102.00 and gave the stock an "underweight" rating in a report on Monday, August 4th. Eight investment analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat, T. Rowe Price Group presently has a consensus rating of "Reduce" and a consensus target price 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.