Banco Bilbao Vizcaya Argentaria S.A. Has $452,000 Stake in T. Rowe Price Group, Inc. $TROW

Banco Bilbao Vizcaya Argentaria S.A. reduced its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 11.7% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,686 shares of the asset manager’s stock after selling 618 shares during the period. Banco Bilbao Vizcaya Argentaria S.A.’s holdings in T. Rowe Price Group were worth $452,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Clearstead Trust LLC lifted its stake in shares of T. Rowe Price Group by 87.3% in the second quarter. Clearstead Trust LLC now owns 1,236 shares of the asset manager’s stock worth $119,000 after acquiring an additional 576 shares during the period. Arvest Bank Trust Division bought a new position in T. Rowe Price Group during the 2nd quarter worth approximately $1,265,000. Thompson Davis & CO. Inc. acquired a new position in shares of T. Rowe Price Group in the 2nd quarter worth approximately $1,825,000. Capital Investment Counsel Inc boosted its stake in shares of T. Rowe Price Group by 1.8% in the 2nd quarter. Capital Investment Counsel Inc now owns 54,620 shares of the asset manager’s stock valued at $5,271,000 after purchasing an additional 972 shares during the last quarter. Finally, ABN Amro Investment Solutions acquired a new stake in shares of T. Rowe Price Group during the second quarter worth $3,643,000. Institutional investors own 73.39% of the company’s stock.

T. Rowe Price Group Price Performance

Shares of T. Rowe Price Group stock opened at $97.48 on Wednesday. The business has a 50-day simple moving average of $103.62 and a 200 day simple moving average of $101.51. T. Rowe Price Group, Inc. has a one year low of $77.85 and a one year high of $125.81. The firm has a market capitalization of $21.27 billion, a price-to-earnings ratio of 10.89, a PEG ratio of 5.61 and a beta of 1.51.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings data on Friday, October 31st. The asset manager reported $2.81 EPS for the quarter, beating analysts’ consensus estimates of $2.55 by $0.26. The firm had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.88 billion. T. Rowe Price Group had a return on equity of 19.77% and a net margin of 28.72%.The company’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same quarter last year, the firm posted $2.57 earnings per share. On average, sell-side analysts expect that T. Rowe Price Group, Inc. will post 9.29 EPS for the current year.

T. Rowe Price Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Monday, December 15th will be paid a dividend of $1.27 per share. This represents a $5.08 dividend on an annualized basis and a yield of 5.2%. The ex-dividend date is Monday, December 15th. T. Rowe Price Group’s payout ratio is 55.34%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Jefferies Financial Group boosted their target price on shares of T. Rowe Price Group from $104.00 to $106.00 and gave the company a “hold” rating in a report on Tuesday, October 7th. Keefe, Bruyette & Woods lifted their price objective on T. Rowe Price Group from $115.00 to $117.00 and gave the stock a “market perform” rating in a research report on Monday, November 3rd. Deutsche Bank Aktiengesellschaft boosted their price objective on T. Rowe Price Group from $112.00 to $113.00 and gave the company a “hold” rating in a research note on Friday, November 14th. Citigroup lifted their target price on T. Rowe Price Group from $105.00 to $107.00 in a report on Monday, November 3rd. Finally, Zacks Research raised T. Rowe Price Group from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 10th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus target price of $109.38.

Insiders Place Their Bets

In other T. Rowe Price Group news, Director Robert F. Maclellan sold 3,090 shares of the firm’s stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $105.01, for a total value of $324,480.90. Following the transaction, the director directly owned 47,335 shares of the company’s stock, valued at approximately $4,970,648.35. This trade represents a 6.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.60% of the company’s stock.

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.