Benjamin F. Edwards & Company Inc. Reduces Stock Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Benjamin F. Edwards & Company Inc. cut its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 37.3% during the second quarter, Holdings Channel reports. The institutional investor owned 79,386 shares of the asset manager’s stock after selling 47,295 shares during the period. Benjamin F. Edwards & Company Inc.’s holdings in T. Rowe Price Group were worth $9,154,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Confluence Investment Management LLC acquired a new position in shares of T. Rowe Price Group in the 1st quarter valued at $130,386,000. Norges Bank acquired a new position in T. Rowe Price Group in the fourth quarter valued at $80,831,000. Hsbc Holdings PLC grew its holdings in shares of T. Rowe Price Group by 66.8% during the fourth quarter. Hsbc Holdings PLC now owns 765,080 shares of the asset manager’s stock worth $82,434,000 after purchasing an additional 306,524 shares during the last quarter. Los Angeles Capital Management LLC increased its position in shares of T. Rowe Price Group by 492.3% during the first quarter. Los Angeles Capital Management LLC now owns 319,887 shares of the asset manager’s stock worth $39,001,000 after purchasing an additional 265,881 shares in the last quarter. Finally, Bank of Nova Scotia lifted its holdings in shares of T. Rowe Price Group by 1,278.0% in the 4th quarter. Bank of Nova Scotia now owns 252,055 shares of the asset manager’s stock valued at $27,143,000 after purchasing an additional 233,763 shares during the last quarter. 73.39% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at T. Rowe Price Group

In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 484 shares of the business’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $104.73, for a total transaction of $50,689.32. Following the sale, the insider now directly owns 13,939 shares in the company, valued at approximately $1,459,831.47. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Jessica M. Hiebler sold 484 shares of the firm’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $104.73, for a total value of $50,689.32. Following the completion of the sale, the insider now owns 13,939 shares in the company, valued at $1,459,831.47. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jessica M. Hiebler sold 1,401 shares of the company’s stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $115.85, for a total transaction of $162,305.85. Following the transaction, the insider now owns 14,198 shares in the company, valued at $1,644,838.30. The disclosure for this sale can be found here. Over the last quarter, insiders sold 13,854 shares of company stock valued at $1,443,767. 2.00% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

TROW has been the topic of a number of research reports. JPMorgan Chase & Co. raised their price target on T. Rowe Price Group from $102.00 to $107.00 and gave the stock an “underweight” rating in a research note on Tuesday, July 23rd. TD Cowen cut their target price on shares of T. Rowe Price Group from $123.00 to $118.00 and set a “hold” rating on the stock in a report on Monday, July 29th. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $120.00 price target (down previously from $121.00) on shares of T. Rowe Price Group in a research note on Monday, July 29th. Barclays initiated coverage on shares of T. Rowe Price Group in a research note on Tuesday, August 27th. They issued an “underweight” rating and a $99.00 price objective on the stock. Finally, Evercore ISI decreased their target price on shares of T. Rowe Price Group from $115.00 to $108.00 and set an “in-line” rating for the company in a research note on Thursday, September 5th. Three equities research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $113.30.

T. Rowe Price Group Stock Down 2.0 %

Shares of NASDAQ:TROW opened at $108.29 on Friday. T. Rowe Price Group, Inc. has a fifty-two week low of $87.43 and a fifty-two week high of $122.27. The firm’s 50-day simple moving average is $108.80 and its 200-day simple moving average is $113.30. The company has a market cap of $24.11 billion, a price-to-earnings ratio of 12.86, a PEG ratio of 1.69 and a beta of 1.41.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings data on Friday, July 26th. The asset manager reported $2.26 earnings per share for the quarter, missing analysts’ consensus estimates of $2.27 by ($0.01). The business had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.79 billion. T. Rowe Price Group had a net margin of 28.66% and a return on equity of 19.90%. T. Rowe Price Group’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.02 EPS. On average, research analysts forecast that T. Rowe Price Group, Inc. will post 9 EPS for the current year.

T. Rowe Price Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be given a $1.24 dividend. This represents a $4.96 annualized dividend and a yield of 4.58%. The ex-dividend date of this dividend is Friday, September 13th. T. Rowe Price Group’s payout ratio is 58.91%.

About T. Rowe Price Group

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.