T. Rowe Price Group, Inc. $TROW Shares Sold by Banque Pictet & Cie SA

Banque Pictet & Cie SA reduced its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 1.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 80,960 shares of the asset manager’s stock after selling 968 shares during the period. Banque Pictet & Cie SA’s holdings in T. Rowe Price Group were worth $7,813,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Invesco Ltd. grew its position in shares of T. Rowe Price Group by 43.2% during the 1st quarter. Invesco Ltd. now owns 3,433,684 shares of the asset manager’s stock valued at $315,453,000 after acquiring an additional 1,035,865 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in T. Rowe Price Group by 7.2% in the first quarter. Charles Schwab Investment Management Inc. now owns 7,706,251 shares of the asset manager’s stock valued at $707,973,000 after purchasing an additional 519,075 shares during the period. GAMMA Investing LLC increased its position in shares of T. Rowe Price Group by 9,555.5% in the first quarter. GAMMA Investing LLC now owns 333,212 shares of the asset manager’s stock valued at $30,612,000 after buying an additional 329,761 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of T. Rowe Price Group by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 26,286,393 shares of the asset manager’s stock valued at $2,414,931,000 after buying an additional 222,556 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in T. Rowe Price Group in the 4th quarter valued at $21,113,000. Hedge funds and other institutional investors own 73.39% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on TROW. Zacks Research cut shares of T. Rowe Price Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 8th. Wells Fargo & Company boosted their price target on T. Rowe Price Group from $98.00 to $108.00 and gave the stock an “equal weight” rating in a research report on Friday, July 11th. JPMorgan Chase & Co. boosted their price target on shares of T. Rowe Price Group from $98.00 to $102.00 and gave the stock an “underweight” rating in a research report on Monday, August 4th. Evercore ISI reiterated a “positive” rating on shares of T. Rowe Price Group in a report on Friday, September 5th. Finally, Keefe, Bruyette & Woods boosted their target price on T. Rowe Price Group from $110.00 to $112.00 and gave the stock a “market perform” rating in a report on Monday, August 4th. One investment analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Reduce” and a consensus price target of $101.55.

Insider Buying and Selling

In other T. Rowe Price Group news, Director Robert F. Maclellan sold 3,090 shares of the company’s stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $105.01, for a total value 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 2.00% of the stock is owned by insiders.

T. Rowe Price Group Price Performance

T. Rowe Price Group stock opened at $103.21 on Friday. The firm has a 50 day simple moving average of $106.17 and a 200-day simple moving average of $97.70. The stock has a market cap of $22.68 billion, a price-to-earnings ratio of 11.53, a price-to-earnings-growth ratio of 2.68 and a beta of 1.51. T. Rowe Price Group, Inc. has a 1-year low of $77.85 and a 1-year high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings data on Friday, August 1st. The asset manager reported $2.24 EPS for the quarter, beating analysts’ consensus estimates of $2.15 by $0.09. The firm had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.72 billion. T. Rowe Price Group had a return on equity of 19.77% and a net margin of 28.72%.The firm’s quarterly revenue was down .6% on a year-over-year basis. During the same period in the prior year, the firm posted $2.26 earnings per share. Equities analysts expect that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Monday, September 15th will be issued a $1.27 dividend. This represents a $5.08 annualized dividend and a yield of 4.9%. The ex-dividend date is Monday, September 15th. T. Rowe Price Group’s payout ratio is 56.76%.

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.