T. Rowe Price Group, Inc. (NASDAQ:TROW) Holdings Lifted by JPMorgan Chase & Co.

JPMorgan Chase & Co. boosted its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 1.3% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,756,348 shares of the asset manager’s stock after purchasing an additional 156,326 shares during the quarter. JPMorgan Chase & Co. owned about 4.89% of T. Rowe Price Group worth $872,439,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bronfman E.L. Rothschild L.P. grew its stake in T. Rowe Price Group by 6.9% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 1,593 shares of the asset manager’s stock valued at $118,000 after acquiring an additional 103 shares during the period. Mosaic Family Wealth LLC boosted its position in shares of T. Rowe Price Group by 4.5% during the first quarter. Mosaic Family Wealth LLC now owns 1,967 shares of the asset manager’s stock worth $134,000 after buying an additional 85 shares during the period. FNY Partners Fund LP acquired a new position in shares of T. Rowe Price Group during the first quarter worth about $147,000. Benjamin F. Edwards & Company Inc. boosted its position in shares of T. Rowe Price Group by 103.0% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,119 shares of the asset manager’s stock worth $157,000 after buying an additional 1,075 shares during the period. Finally, National Planning Corp acquired a new position in shares of T. Rowe Price Group during the second quarter worth about $209,000. Institutional investors and hedge funds own 74.20% of the company’s stock.

Shares of T. Rowe Price Group, Inc. (NASDAQ TROW) opened at 84.72 on Friday. The company’s 50-day moving average price is $83.30 and its 200-day moving average price is $75.19. The firm has a market cap of $20.36 billion, a P/E ratio of 14.55 and a beta of 1.24. T. Rowe Price Group, Inc. has a 12 month low of $62.97 and a 12 month high of $85.42.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings results on Tuesday, July 25th. The asset manager reported $1.28 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.27 by $0.01. The business had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.16 billion. T. Rowe Price Group had a net margin of 32.64% and a return on equity of 24.38%. The company’s revenue was up 12.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.76 EPS. On average, analysts predict that T. Rowe Price Group, Inc. will post $5.65 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 28th. Stockholders of record on Thursday, September 14th will be given a dividend of $0.57 per share. The ex-dividend date is Wednesday, September 13th. This represents a $2.28 annualized dividend and a dividend yield of 2.69%. T. Rowe Price Group’s payout ratio is 39.18%.

Several research analysts have recently weighed in on TROW shares. ValuEngine raised T. Rowe Price Group from a “hold” rating to a “buy” rating in a research report on Wednesday, August 2nd. Zacks Investment Research cut T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Wednesday. Wells Fargo & Company reissued a “market perform” rating on shares of T. Rowe Price Group in a research report on Thursday, July 27th. Jefferies Group LLC reissued a “buy” rating and set a $96.00 price target on shares of T. Rowe Price Group in a research report on Sunday, August 20th. Finally, BidaskClub raised T. Rowe Price Group from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, June 14th. Four research analysts have rated the stock with a sell rating, seven have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $81.30.

In other news, insider Jessica M. Hiebler sold 1,000 shares of the firm’s stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $84.29, for a total transaction of $84,290.00. Following the sale, the insider now directly owns 8,461 shares in the company, valued at approximately $713,177.69. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider David Oestreicher sold 10,394 shares of T. Rowe Price Group stock in a transaction on Thursday, July 27th. The shares were sold at an average price of $83.07, for a total transaction of $863,429.58. Following the completion of the sale, the insider now owns 82,299 shares in the company, valued at $6,836,577.93. The disclosure for this sale can be found here. Insiders have sold a total of 19,720 shares of company stock worth $1,630,701 over the last 90 days. Insiders own 3.60% of the company’s stock.

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T. Rowe Price Group Company Profile

T. Rowe Price Group, Inc is a financial services holding company. The Company provides global investment management services through its subsidiaries to investors across the world. The Company provides an array of Company sponsored the United States mutual funds, other sponsored pooled investment vehicles, sub advisory services, separate account management, recordkeeping, and related services to individuals, advisors, institutions, financial intermediaries and retirement plan sponsors.

Institutional Ownership by Quarter for T. Rowe Price Group (NASDAQ:TROW)

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