T. Rowe Price Group, Inc. $TROW Shares Sold by Amundi

Key Points

• Amundi reduced its T. Rowe Price Group stake by 37.9% in the second quarter, selling 550,477 shares and retaining 900,175 shares valued at approximately $102.3 million. Institutional investors collectively own 73.39% of TROW.
• Analyst sentiment remains cautious, with one Buy, nine Hold, and four Sell ratings. The stock carries a “Reduce” consensus rating and an average price target of $106.15.
• T. Rowe Price reported quarterly EPS of $2.57 and revenue of $1.91 billion, exceeding estimates, while announcing a $1.30 quarterly dividend. The annualized dividend of $5.20 represents a 4.8% yield.

Amundi lessened its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 37.9% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 900,175 shares of the asset manager's stock after selling 550,477 shares during the period. Amundi owned approximately 0.42% of T. Rowe Price Group worth $102,339,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of TROW. California State Teachers Retirement System increased its holdings in shares of T. Rowe Price Group by 10,632.8% in the 2nd quarter. California State Teachers Retirement System now owns 45,287,275 shares of the asset manager's stock valued at $5,148,710,000 after acquiring an additional 44,865,323 shares during the last quarter. BlackRock Inc. acquired a new stake in T. Rowe Price Group during the second quarter worth approximately $2,728,119,000. Goldman Sachs Group Inc. raised its holdings in T. Rowe Price Group by 332.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 8,770,071 shares of the asset manager's stock worth $897,880,000 after purchasing an additional 6,740,172 shares in the last quarter. First Trust Advisors LP lifted its position in shares of T. Rowe Price Group by 126.5% during the 4th quarter. First Trust Advisors LP now owns 3,280,854 shares of the asset manager's stock worth $335,894,000 after buying an additional 1,832,231 shares during the last quarter. Finally, Legal & General Group Plc acquired a new position in shares of T. Rowe Price Group in the 2nd quarter valued at $183,130,000. Institutional investors and hedge funds own 73.39% of the company's stock.

Analysts Set New Price Targets

TROW has been the topic of several research reports. Keefe, Bruyette & Woods reaffirmed a "market perform" rating and set a $115.00 price objective (down from $120.00) on shares of T. Rowe Price Group in a report on Monday, August 3rd. Evercore set a $118.00 target price on T. Rowe Price Group in a report on Monday, August 10th. The Goldman Sachs Group upped their target price on T. Rowe Price Group from $90.00 to $92.00 and gave the company a "sell" rating in a research report on Tuesday, June 30th. UBS Group set a $110.00 price target on T. Rowe Price Group in a research note on Monday, August 31st. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and set a $109.00 price target on shares of T. Rowe Price Group in a research report on Monday, August 3rd. One research analyst has rated the stock with a Buy rating, nine have given a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat.com, T. Rowe Price Group currently has an average rating of "Reduce" and an average price target of $106.15.

Insider Buying and Selling

In other T. Rowe Price Group news, VP Joshua Nelson sold 10,000 shares of T. Rowe Price Group stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $111.82, for a total value of $1,118,200.00. Following the completion of the sale, the vice president owned 71,328 shares in the company, valued at $7,975,896.96. The trade was a 12.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 1.60% of the company's stock.

T. Rowe Price Group Stock Performance

Shares of NASDAQ TROW opened at $107.74 on Thursday. T. Rowe Price Group, Inc. has a one year low of $85.22 and a one year high of $122.00. The firm has a market capitalization of $22.98 billion, a P/E ratio of 10.81, a PEG ratio of 3.62 and a beta of 1.46. The company's fifty day moving average is $114.30 and its two-hundred day moving average is $104.26.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last posted its earnings results on Friday, July 31st. The asset manager reported $2.57 EPS for the quarter, topping analysts' consensus estimates of $2.52 by $0.05. The company had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.89 billion. T. Rowe Price Group had a return on equity of 20.91% and a net margin of 29.26%.T. Rowe Price Group's quarterly revenue was up 10.7% compared to the same quarter last year. During the same period in the previous year, the business earned $2.24 earnings per share. On average, sell-side analysts forecast that T. Rowe Price Group, Inc. will post 10.16 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 15th will be given a $1.30 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.8%. T. Rowe Price Group's payout ratio is currently 52.16%.

T. Rowe Price Group Profile

T. Rowe Price Group, Inc is a global investment management firm headquartered in Baltimore, Maryland. Founded in 1937 by Thomas Rowe Price Jr., the company provides investment management, advisory and related services to individual investors, retirement plans, institutions, financial intermediaries and other clients.

The company offers a broad range of investment products and strategies, including mutual funds, exchange-traded funds, separately managed accounts and institutional portfolios.

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