Advantus Capital Management Inc Reduces Stake in T. Rowe Price Group, Inc. (TROW)

Advantus Capital Management Inc cut its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 0.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 24,298 shares of the asset manager’s stock after selling 42 shares during the period. Advantus Capital Management Inc’s holdings in T. Rowe Price Group were worth $1,656,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Daiwa Securities Group Inc. increased its position in shares of T. Rowe Price Group by 6.3% in the first quarter. Daiwa Securities Group Inc. now owns 6,750 shares of the asset manager’s stock worth $460,000 after buying an additional 400 shares in the last quarter. Gabelli Funds LLC increased its position in shares of T. Rowe Price Group by 16.6% in the first quarter. Gabelli Funds LLC now owns 516,000 shares of the asset manager’s stock worth $35,165,000 after buying an additional 73,400 shares in the last quarter. Rothschild Investment Corp IL increased its position in shares of T. Rowe Price Group by 42.0% in the first quarter. Rothschild Investment Corp IL now owns 5,750 shares of the asset manager’s stock worth $392,000 after buying an additional 1,700 shares in the last quarter. British Columbia Investment Management Corp increased its position in shares of T. Rowe Price Group by 47.4% in the first quarter. British Columbia Investment Management Corp now owns 256,180 shares of the asset manager’s stock worth $17,459,000 after buying an additional 82,409 shares in the last quarter. Finally, Zurich Insurance Group Ltd FI purchased a new position in shares of T. Rowe Price Group during the fourth quarter worth about $3,269,000. Institutional investors own 71.24% of the company’s stock.

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

Shares of T. Rowe Price Group, Inc. (NASDAQ TROW) opened at 73.74 on Monday. T. Rowe Price Group, Inc. has a 12 month low of $62.97 and a 12 month high of $78.95. The stock’s 50 day moving average is $71.60 and its 200 day moving average is $71.80. The stock has a market cap of $17.79 billion, a P/E ratio of 14.44 and a beta of 1.27.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings data on Tuesday, April 25th. The asset manager reported $1.18 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.20 by $0.02. T. Rowe Price Group had a return on equity of 24.24% and a net margin of 29.59%. The firm had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.10 billion. During the same quarter last year, the business earned $1.15 earnings per share. The business’s revenue for the quarter was up 12.0% compared to the same quarter last year. Analysts predict that T. Rowe Price Group, Inc. will post $5.17 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 29th. Investors of record on Thursday, June 15th will be paid a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 3.09%. The ex-dividend date of this dividend is Tuesday, June 13th. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 44.88%.

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TROW has been the subject of a number of recent research reports. Morgan Stanley reiterated an “underweight” rating and issued a $67.00 price target (up previously from $64.00) on shares of T. Rowe Price Group in a research note on Friday, March 17th. Deutsche Bank AG reiterated a “hold” rating and issued a $71.00 price target (down previously from $74.00) on shares of T. Rowe Price Group in a research note on Monday, May 1st. Jefferies Group LLC reiterated a “buy” rating and issued a $83.00 price target (down previously from $84.00) on shares of T. Rowe Price Group in a research note on Monday, April 17th. TheStreet downgraded shares of T. Rowe Price Group from a “b” rating to a “c+” rating in a research note on Tuesday, March 28th. Finally, BidaskClub upgraded shares of T. Rowe Price Group from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, June 14th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. T. Rowe Price Group currently has an average rating of “Hold” and a consensus price target of $73.18.

T. Rowe Price Group Company Profile

T. Rowe Price Group, Inc is a financial services holding company. The Company provides global investment management services through its subsidiaries to investors across the world. The Company provides an array of Company sponsored the United States mutual funds, other sponsored pooled investment vehicles, sub advisory services, separate account management, recordkeeping, and related services to individuals, advisors, institutions, financial intermediaries and retirement plan sponsors.

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