Stephens Inc. AR Sells 51,243 Shares of T. Rowe Price Group, Inc. $TROW

Key Points

• Stephens Inc. AR reduced its stake in T. Rowe Price Group by 69.9%, selling 51,243 shares, leaving it with 22,051 shares valued at approximately $2.13 million.
• Several institutional investors have increased their positions, with Invesco Ltd. and Vanguard Group owning significant stakes worth $315 million and $2.41 billion, respectively.
• T. Rowe Price Group recently declared a quarterly dividend of $1.27, yielding 4.9%, while the company currently has a market cap of $22.58 billion.

Stephens Inc. AR lessened its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 69.9% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 22,051 shares of the asset manager's stock after selling 51,243 shares during the period. Stephens Inc. AR's holdings in T. Rowe Price Group were worth $2,128,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in TROW. Invesco Ltd. lifted its stake in shares of 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 worth $315,453,000 after purchasing an additional 1,035,865 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of 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 worth $707,973,000 after purchasing an additional 519,075 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of T. Rowe Price Group in the 2nd quarter worth approximately $37,722,000. Vanguard Group Inc. lifted its stake in shares of 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 worth $2,414,931,000 after purchasing an additional 222,556 shares during the period. Finally, Vest Financial LLC lifted its stake in shares of T. Rowe Price Group by 31.1% in the 2nd quarter. Vest Financial LLC now owns 616,351 shares of the asset manager's stock worth $59,478,000 after purchasing an additional 146,382 shares during the period. Institutional investors own 73.39% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on TROW shares. Jefferies Financial Group increased their price objective on shares of T. Rowe Price Group from $104.00 to $106.00 and gave the company a "hold" rating in a report on Tuesday, October 7th. JPMorgan Chase & Co. increased their price objective on shares of T. Rowe Price Group from $102.00 to $109.00 and gave the company an "underweight" rating in a report on Wednesday, October 15th. BMO Capital Markets started coverage on shares of T. Rowe Price Group in a report on Friday, October 3rd. They set a "market perform" rating and a $108.00 price objective for the company. Morgan Stanley increased their price objective on shares of T. Rowe Price Group from $116.00 to $125.00 and gave the company a "positive" rating in a report on Monday, October 6th. Finally, Evercore ISI raised their target price on shares of T. Rowe Price Group from $115.00 to $118.00 and gave the company an "in-line" rating in a report on Thursday, October 9th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, ten have assigned a Hold rating and four have assigned a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Reduce" and an average price target of $107.54.

Insider Transactions at T. Rowe Price Group

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

T. Rowe Price Group Stock Performance

TROW stock opened at $102.76 on Thursday. The firm has a fifty day moving average price of $105.55 and a 200 day moving average price of $99.18. T. Rowe Price Group, Inc. has a fifty-two week low of $77.85 and a fifty-two week high of $125.81. The firm has a market cap of $22.58 billion, a PE ratio of 11.48, a price-to-earnings-growth ratio of 5.72 and a beta of 1.50.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last posted its earnings results on Friday, August 1st. The asset manager reported $2.24 earnings per share for the quarter, beating analysts' consensus estimates of $2.15 by $0.09. The firm had revenue of $1.72 billion during 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 for the quarter was down .6% compared to the same quarter last year. During the same period last year, the firm posted $2.26 earnings per share. On average, equities analysts predict that T. Rowe Price Group, Inc. will post 9.29 EPS for the current year.

T. Rowe Price Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Monday, September 15th were given a $1.27 dividend. The ex-dividend date was Monday, September 15th. This represents a $5.08 dividend on an annualized basis and a yield of 4.9%. T. Rowe Price Group's dividend payout ratio (DPR) 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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