Cambridge Investment Research Advisors Inc. Increases Stock Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Cambridge Investment Research Advisors Inc. increased its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW – Get Rating) by 0.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 33,287 shares of the asset manager’s stock after buying an additional 244 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in T. Rowe Price Group were worth $3,782,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in TROW. Rise Advisors LLC boosted its holdings in T. Rowe Price Group by 645.8% during the first quarter. Rise Advisors LLC now owns 179 shares of the asset manager’s stock worth $27,000 after buying an additional 155 shares in the last quarter. Bivin & Associates Inc. acquired a new position in T. Rowe Price Group during the fourth quarter worth $29,000. Independence Bank of Kentucky acquired a new position in T. Rowe Price Group during the first quarter worth $29,000. Jones Financial Companies Lllp raised its position in T. Rowe Price Group by 114.6% during the first quarter. Jones Financial Companies Lllp now owns 191 shares of the asset manager’s stock worth $29,000 after acquiring an additional 102 shares during the period. Finally, Artemis Wealth Advisors LLC acquired a new position in T. Rowe Price Group during the first quarter worth $32,000. 74.94% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

TROW has been the subject of a number of research analyst reports. Morgan Stanley reduced their price objective on shares of T. Rowe Price Group from $124.00 to $123.00 and set an “equal weight” rating for the company in a research report on Friday, July 29th. UBS Group reduced their price objective on shares of T. Rowe Price Group from $88.00 to $84.00 and set a “sell” rating for the company in a research report on Friday, July 29th. TheStreet lowered shares of T. Rowe Price Group from a “b-” rating to a “c” rating in a report on Wednesday, July 13th. Deutsche Bank Aktiengesellschaft upped their target price on shares of T. Rowe Price Group from $120.00 to $138.00 and gave the stock a “hold” rating in a report on Friday, August 12th. Finally, The Goldman Sachs Group dropped their target price on shares of T. Rowe Price Group from $118.00 to $100.00 and set a “sell” rating for the company in a report on Wednesday, June 29th. Five investment analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $132.30.

Insider Activity at T. Rowe Price Group

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In related news, insider Jessica M. Hiebler sold 959 shares of the business’s stock in a transaction dated Tuesday, August 2nd. The shares were sold at an average price of $124.57, for a total value of $119,462.63. Following the sale, the insider now directly owns 12,183 shares in the company, valued at approximately $1,517,636.31. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 11,891 shares of the business’s stock in a transaction dated Thursday, August 4th. The shares were sold at an average price of $126.91, for a total transaction of $1,509,086.81. Following the sale, the vice president now directly owns 136,410 shares in the company, valued at $17,311,793.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 transaction of $119,462.63. Following the completion of the transaction, the insider now directly owns 12,183 shares of the company’s stock, valued at approximately $1,517,636.31. The disclosure for this sale can be found here. 2.00% of the stock is owned by insiders.

T. Rowe Price Group Trading Down 0.7 %

Shares of TROW stock opened at $106.76 on Wednesday. The company’s 50-day moving average price is $120.98 and its 200-day moving average price is $125.97. The stock has a market cap of $24.09 billion, a price-to-earnings ratio of 10.31, a PEG ratio of 2.20 and a beta of 1.29. T. Rowe Price Group, Inc. has a twelve month low of $104.72 and a twelve month high of $223.36.

T. Rowe Price Group (NASDAQ:TROW – Get Rating) last announced 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 $2.24 by ($0.45). The firm had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.68 billion. T. Rowe Price Group had a net margin of 33.26% and a return on equity of 28.18%. The company’s revenue was down 20.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.31 EPS. As a group, equities research analysts predict that T. Rowe Price Group, Inc. will post 8.24 EPS for the current year.

T. Rowe Price Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 29th. Investors of record on Thursday, September 15th will be issued a $1.20 dividend. The ex-dividend date is Wednesday, September 14th. This represents a $4.80 annualized dividend and a yield of 4.50%. T. Rowe Price Group’s dividend payout ratio (DPR) is currently 46.33%.

About T. Rowe Price Group

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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.