American Century Companies Inc. Sells 336,782 Shares of T. Rowe Price Group, Inc. $TROW

American Century Companies Inc. trimmed its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 11.4% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 2,618,921 shares of the asset manager’s stock after selling 336,782 shares during the quarter. American Century Companies Inc. owned about 1.19% of T. Rowe Price Group worth $252,726,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of TROW. AE Wealth Management LLC bought a new stake in T. Rowe Price Group during the first quarter worth about $202,000. Pinnacle Associates Ltd. grew its holdings in shares of T. Rowe Price Group by 3.4% during the first quarter. Pinnacle Associates Ltd. now owns 15,267 shares of the asset manager’s stock worth $1,403,000 after purchasing an additional 500 shares during the last quarter. Avantax Advisory Services Inc. increased its stake in shares of T. Rowe Price Group by 20.8% in the first quarter. Avantax Advisory Services Inc. now owns 6,142 shares of the asset manager’s stock valued at $564,000 after buying an additional 1,059 shares during the period. Mediolanum International Funds Ltd raised its holdings in T. Rowe Price Group by 468.1% in the 1st quarter. Mediolanum International Funds Ltd now owns 84,425 shares of the asset manager’s stock valued at $7,731,000 after buying an additional 69,565 shares during the last quarter. Finally, TD Asset Management Inc boosted its position in T. Rowe Price Group by 0.3% during the 1st quarter. TD Asset Management Inc now owns 85,806 shares of the asset manager’s stock worth $7,883,000 after buying an additional 254 shares during the period. 73.39% of the stock is owned by institutional investors and hedge funds.

Insider Activity at T. Rowe Price Group

In other news, Director Robert F. Maclellan sold 3,090 shares of the company’s stock in a transaction that occurred 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 transaction, the director directly owned 47,335 shares of the company’s stock, valued at $4,970,648.35. This represents a 6.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.00% of the stock is currently owned by corporate insiders.

T. Rowe Price Group Trading Up 3.1%

TROW opened at $100.31 on Monday. The company has a fifty day moving average price of $103.16 and a two-hundred day moving average price of $101.67. T. Rowe Price Group, Inc. has a 1-year low of $77.85 and a 1-year high of $125.81. The company has a market cap of $21.89 billion, a P/E ratio of 11.21, a price-to-earnings-growth ratio of 5.61 and a beta of 1.51.

T. Rowe Price Group (NASDAQ:TROW) last issued its earnings results on Friday, October 31st. The asset manager reported $2.81 EPS for the quarter, beating the consensus estimate of $2.55 by $0.26. T. Rowe Price Group had a return on equity of 19.77% and a net margin of 28.72%.The company had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.88 billion. During the same period last year, the business posted $2.57 EPS. The firm’s revenue for the quarter was up 6.0% compared to the same quarter last year. On average, research analysts forecast that T. Rowe Price Group, Inc. will post 9.29 EPS for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Monday, December 15th will be paid a $1.27 dividend. This represents a $5.08 dividend on an annualized basis and a yield of 5.1%. The ex-dividend date of this dividend is Monday, December 15th. T. Rowe Price Group’s dividend payout ratio (DPR) is 55.34%.

Analyst Ratings Changes

TROW has been the subject of several recent research reports. Citigroup upped their price target on shares of T. Rowe Price Group from $105.00 to $107.00 in a research report on Monday, November 3rd. Morgan Stanley boosted their price target on shares of T. Rowe Price Group from $125.00 to $126.00 and gave the stock an “equal weight” rating in a research report on Monday, October 27th. BMO Capital Markets initiated coverage on shares of T. Rowe Price Group in a research report on Friday, October 3rd. They set a “market perform” rating and a $108.00 price objective for the company. Deutsche Bank Aktiengesellschaft boosted their target price on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the company a “hold” rating in a report on Friday, November 14th. Finally, Zacks Research raised shares of T. Rowe Price Group from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 10th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Reduce” and an average price target of $109.38.

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.