Confluence Investment Management LLC Has $84.02 Million Stock Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Confluence Investment Management LLC increased its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROWGet Rating) by 482.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 739,529 shares of the asset manager’s stock after acquiring an additional 612,662 shares during the period. Confluence Investment Management LLC owned about 0.33% of T. Rowe Price Group worth $84,018,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. Covestor Ltd acquired a new stake in T. Rowe Price Group in the fourth quarter valued at approximately $27,000. Rise Advisors LLC boosted its position in T. Rowe Price Group by 645.8% in the first quarter. Rise Advisors LLC now owns 179 shares of the asset manager’s stock valued at $27,000 after buying an additional 155 shares in the last quarter. Bivin & Associates Inc. acquired a new stake in T. Rowe Price Group in the fourth quarter valued at approximately $29,000. Independence Bank of Kentucky acquired a new stake in T. Rowe Price Group in the first quarter valued at approximately $29,000. Finally, Jones Financial Companies Lllp boosted its position in T. Rowe Price Group by 114.6% in the first quarter. Jones Financial Companies Lllp now owns 191 shares of the asset manager’s stock valued at $29,000 after buying an additional 102 shares in the last quarter. Institutional investors and hedge funds own 74.94% of the company’s stock.

Insider Buying and Selling at T. Rowe Price Group

In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 959 shares of T. Rowe Price Group stock in a transaction on Tuesday, August 2nd. The shares were sold at an average price of $124.57, for a total value of $119,462.63. Following the completion of the sale, the insider now directly owns 12,183 shares of the company’s stock, valued at $1,517,636.31. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 11,891 shares of the business’s stock in a transaction that occurred on Thursday, August 4th. The stock was sold at an average price of $126.91, for a total transaction of $1,509,086.81. Following the completion of the sale, the vice president now directly owns 136,410 shares of the company’s stock, valued at approximately $17,311,793.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jessica M. Hiebler sold 959 shares of the firm’s stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of $124.57, for a total value of $119,462.63. Following the completion of the transaction, the insider now owns 12,183 shares in the company, valued at approximately $1,517,636.31. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft raised their target price on shares of T. Rowe Price Group from $120.00 to $138.00 and gave the company a “hold” rating in a research report on Friday, August 12th. BMO Capital Markets cut their price target on shares of T. Rowe Price Group from $135.00 to $115.00 in a report on Monday, August 1st. The Goldman Sachs Group cut their price target on shares of T. Rowe Price Group from $118.00 to $100.00 and set a “sell” rating on the stock in a report on Wednesday, June 29th. TheStreet lowered shares of T. Rowe Price Group from a “b-” rating to a “c” rating in a report on Wednesday, July 13th. Finally, UBS Group cut their price target on shares of T. Rowe Price Group from $88.00 to $84.00 and set a “sell” rating on the stock in a report on Friday, July 29th. Five investment analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $132.30.

T. Rowe Price Group Stock Down 1.7 %

Shares of NASDAQ TROW opened at $110.13 on Monday. T. Rowe Price Group, Inc. has a twelve month low of $104.72 and a twelve month high of $223.36. The firm has a fifty day simple moving average of $121.64 and a 200 day simple moving average of $127.36. The company has a market capitalization of $24.86 billion, a PE ratio of 10.63, a P/E/G ratio of 2.26 and a beta of 1.29.

T. Rowe Price Group (NASDAQ:TROWGet Rating) last posted its quarterly earnings results on Thursday, July 28th. The asset manager reported $1.79 earnings per share for the quarter, missing the consensus estimate of $2.64 by ($0.85). T. Rowe Price Group had a net margin of 33.26% and a return on equity of 28.18%. The company had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.68 billion. During the same period last year, the firm posted $3.31 earnings per share. The company’s revenue for the quarter was down 20.4% on a year-over-year basis. As a group, equities analysts expect that T. Rowe Price Group, Inc. will post 8.24 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 29th. Shareholders of record on Thursday, September 15th will be paid a $1.20 dividend. This represents a $4.80 annualized dividend and a yield of 4.36%. The ex-dividend date of this dividend is Wednesday, September 14th. T. Rowe Price Group’s dividend payout ratio (DPR) is currently 46.33%.

T. Rowe Price Group Profile

(Get Rating)

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

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