Baird Financial Group Inc. Decreases Stock Position in T. Rowe Price Group, Inc. $TROW

Baird Financial Group Inc. trimmed its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 24.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 112,353 shares of the asset manager’s stock after selling 36,883 shares during the period. Baird Financial Group Inc. owned about 0.05% of T. Rowe Price Group worth $10,842,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in shares of T. Rowe Price Group by 0.5% in the second quarter. Vanguard Group Inc. now owns 26,416,718 shares of the asset manager’s stock valued at $2,549,213,000 after acquiring an additional 130,325 shares during the period. Charles Schwab Investment Management Inc. increased its stake in T. Rowe Price Group by 1.8% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 7,846,636 shares of the asset manager’s stock valued at $757,200,000 after buying an additional 140,385 shares during the period. Geode Capital Management LLC raised its position in T. Rowe Price Group by 3.4% during the 2nd quarter. Geode Capital Management LLC now owns 6,014,236 shares of the asset manager’s stock worth $578,059,000 after buying an additional 197,024 shares during the last quarter. Invesco Ltd. lifted its stake in shares of T. Rowe Price Group by 0.3% in the 2nd quarter. Invesco Ltd. now owns 3,444,720 shares of the asset manager’s stock worth $332,415,000 after acquiring an additional 11,036 shares during the period. Finally, First Trust Advisors LP boosted its holdings in shares of T. Rowe Price Group by 137.7% in the second quarter. First Trust Advisors LP now owns 3,441,458 shares of the asset manager’s stock valued at $332,101,000 after acquiring an additional 1,993,920 shares in the last quarter. 73.39% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Keefe, Bruyette & Woods raised their price objective on shares of T. Rowe Price Group from $115.00 to $117.00 and gave the company a “market perform” rating in a research report on Monday, November 3rd. Morgan Stanley raised their target price on T. Rowe Price Group from $125.00 to $126.00 and gave the company an “equal weight” rating in a report on Monday, October 27th. JPMorgan Chase & Co. boosted their target price on shares of T. Rowe Price Group from $109.00 to $111.00 and gave the stock an “underweight” rating in a research report on Monday, November 3rd. Barclays set a $101.00 price target on shares of T. Rowe Price Group in a report on Monday, November 3rd. Finally, Deutsche Bank Aktiengesellschaft upped their target price on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the stock a “hold” rating in a research report on Friday, November 14th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus target price of $108.77.

Insiders Place Their Bets

In other T. Rowe Price Group news, Director Robert F. Maclellan sold 3,090 shares of the stock in a transaction 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 owned 47,335 shares of the company’s stock, valued at $4,970,648.35. This represents a 6.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 1.60% of the company’s stock.

T. Rowe Price Group Trading Up 0.7%

T. Rowe Price Group stock opened at $106.58 on Monday. The stock has a market cap of $23.26 billion, a PE ratio of 11.61, a P/E/G ratio of 3.52 and a beta of 1.53. The stock has a 50-day moving average price of $102.86 and a 200 day moving average price of $102.14. T. Rowe Price Group, Inc. has a 52 week low of $77.85 and a 52 week high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings results on Friday, October 31st. The asset manager reported $2.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.55 by $0.26. The company had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.88 billion. T. Rowe Price Group had a net margin of 28.89% and a return on equity of 19.95%. The firm’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same period last year, the company earned $2.57 EPS. On average, equities analysts predict that T. Rowe Price Group, Inc. will post 9.29 EPS for the current year.

T. Rowe Price Group Dividend Announcement

The company also recently announced 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 annualized dividend and a yield of 4.8%. The ex-dividend date of this dividend is Monday, December 15th. T. Rowe Price Group’s payout ratio is presently 55.34%.

T. Rowe Price Group 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.