Pacer Advisors Inc. Raises Stake in T. Rowe Price Group, Inc. (TROW)

Pacer Advisors Inc. lifted its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 1.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,259 shares of the asset manager’s stock after purchasing an additional 77 shares during the quarter. Pacer Advisors Inc.’s holdings in T. Rowe Price Group were worth $390,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the company. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its holdings in shares of T. Rowe Price Group by 15.4% in the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 58,367 shares of the asset manager’s stock worth $4,331,000 after purchasing an additional 7,789 shares during the last quarter. Andra AP fonden increased its holdings in shares of T. Rowe Price Group by 18.0% in the second quarter. Andra AP fonden now owns 55,100 shares of the asset manager’s stock worth $4,089,000 after purchasing an additional 8,400 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its holdings in shares of T. Rowe Price Group by 49.5% in the second quarter. Robeco Institutional Asset Management B.V. now owns 52,362 shares of the asset manager’s stock worth $3,885,000 after purchasing an additional 17,342 shares during the last quarter. GHP Investment Advisors Inc. increased its holdings in shares of T. Rowe Price Group by 0.3% in the second quarter. GHP Investment Advisors Inc. now owns 19,549 shares of the asset manager’s stock worth $1,451,000 after purchasing an additional 53 shares during the last quarter. Finally, Great Lakes Advisors LLC increased its holdings in shares of T. Rowe Price Group by 14.1% in the second quarter. Great Lakes Advisors LLC now owns 11,103 shares of the asset manager’s stock worth $824,000 after purchasing an additional 1,372 shares during the last quarter. 74.20% of the stock is currently owned by hedge funds and other institutional investors.

T. Rowe Price Group, Inc. (NASDAQ TROW) opened at 82.13 on Monday. The company has a market cap of $19.74 billion, a PE ratio of 14.10 and a beta of 1.24. The stock’s 50 day moving average price is $83.07 and its 200-day moving average price is $74.74. T. Rowe Price Group, Inc. has a 1-year low of $62.97 and a 1-year high of $85.42.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings results on Tuesday, July 25th. The asset manager reported $1.28 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.27 by $0.01. The business had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.16 billion. T. Rowe Price Group had a net margin of 32.64% and a return on equity of 24.38%. The business’s revenue was up 12.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.76 EPS. On average, analysts forecast that T. Rowe Price Group, Inc. will post $5.66 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 28th. Stockholders of record on Thursday, September 14th will be issued a dividend of $0.57 per share. The ex-dividend date of this dividend is Wednesday, September 13th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.78%. T. Rowe Price Group’s dividend payout ratio is currently 39.18%.

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In other news, insider Jessica M. Hiebler sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $84.29, for a total transaction of $84,290.00. Following the completion of the sale, the insider now owns 8,461 shares in the company, valued at approximately $713,177.69. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Anne M. Whittemore sold 8,326 shares of the firm’s stock in a transaction that occurred on Thursday, July 27th. The stock was sold at an average price of $82.03, for a total transaction of $682,981.78. Following the sale, the director now owns 28,982 shares of the company’s stock, valued at approximately $2,377,393.46. The disclosure for this sale can be found here. Insiders have sold a total of 19,720 shares of company stock valued at $1,630,701 in the last 90 days. Insiders own 3.60% of the company’s stock.

Several equities research analysts have recently issued reports on TROW shares. ValuEngine raised T. Rowe Price Group from a “hold” rating to a “buy” rating in a report on Wednesday, August 2nd. Wells Fargo & Company reissued a “market perform” rating on shares of T. Rowe Price Group in a research note on Thursday, July 27th. Jefferies Group LLC reissued a “buy” rating and set a $96.00 price objective on shares of T. Rowe Price Group in a research note on Sunday, August 20th. Zacks Investment Research cut T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Monday, August 21st. Finally, BidaskClub raised T. Rowe Price Group from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, June 14th. Four research analysts have rated the stock with a sell rating, seven have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Hold” and an average price target of $80.30.

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.

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

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