T. Rowe Price Group, Inc. $TROW Stock Holdings Cut by Lbp Am Sa

Key Points

• Lbp Am Sa reduced its holdings in T. Rowe Price Group, Inc. by 11.5% during the second quarter, now owning approximately 0.06% of the company, worth around $12.1 million.
• T. Rowe Price Group reported quarterly earnings of $2.24 per share, exceeding analyst expectations, while revenue was down 0.6% year-over-year at $1.72 billion.
• The most recent dividend paid was $1.27 per share, representing an annualized dividend yield of 4.9%, with a payout ratio of 56.76%.

Lbp Am Sa reduced its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 11.5% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 125,548 shares of the asset manager's stock after selling 16,282 shares during the quarter. Lbp Am Sa owned about 0.06% of T. Rowe Price Group worth $12,115,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of TROW. Invesco Ltd. boosted its stake in shares of T. Rowe Price Group by 43.2% during the 1st quarter. Invesco Ltd. now owns 3,433,684 shares of the asset manager's stock worth $315,453,000 after acquiring an additional 1,035,865 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of T. Rowe Price Group by 7.2% during 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 acquiring an additional 519,075 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of T. Rowe Price Group by 9,555.5% during the 1st quarter. GAMMA Investing LLC now owns 333,212 shares of the asset manager's stock worth $30,612,000 after acquiring an additional 329,761 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of T. Rowe Price Group by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 26,286,393 shares of the asset manager's stock worth $2,414,931,000 after acquiring an additional 222,556 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of T. Rowe Price Group by 505.5% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 172,709 shares of the asset manager's stock worth $15,867,000 after acquiring an additional 144,187 shares in the last quarter. Institutional investors and hedge funds own 73.39% of the company's stock.

T. Rowe Price Group Stock Down 0.9%

TROW opened at $102.64 on Wednesday. The stock has a fifty day moving average of $106.03 and a 200-day moving average of $97.93. The firm has a market capitalization of $22.55 billion, a P/E ratio of 11.47, a PEG 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.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last announced 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 business had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.72 billion. During the same period last year, the company earned $2.26 earnings per share. T. Rowe Price Group's quarterly revenue was down .6% compared to the same quarter last year. On average, analysts expect that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current fiscal year.

T. Rowe Price Group Dividend Announcement

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

Insider Activity

In related news, Director Robert F. Maclellan sold 3,090 shares of the stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $105.01, for a total transaction of $324,480.90. Following the completion of the sale, the director directly owned 47,335 shares in the company, valued at approximately $4,970,648.35. This trade 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 is accessible through the SEC website. Corporate insiders own 1.60% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on TROW. Zacks Research lowered T. Rowe Price Group from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 8th. Wells Fargo & Company raised their price objective on T. Rowe Price Group from $98.00 to $108.00 and gave the stock an "equal weight" rating in a research note on Friday, July 11th. Morgan Stanley raised their price objective on T. Rowe Price Group from $112.00 to $116.00 and gave the stock an "equal weight" rating in a research note on Monday, August 4th. Barclays restated an "underweight" rating and issued a $95.00 target price (up previously from $91.00) on shares of T. Rowe Price Group in a report on Monday, August 4th. Finally, Keefe, Bruyette & Woods increased their target price on T. Rowe Price Group from $110.00 to $112.00 and gave the company a "market perform" rating in a report on Monday, August 4th. One research analyst has rated the stock with a Buy rating, eight have given a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat.com, T. Rowe Price Group presently has an average rating of "Reduce" and an average price target of $101.55.

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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