T. Rowe Price Group Inc (TROW) Position Raised by Gulf International Bank UK Ltd

Gulf International Bank UK Ltd boosted its position in T. Rowe Price Group Inc (NASDAQ:TROW) by 3.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 78,082 shares of the asset manager’s stock after purchasing an additional 2,250 shares during the period. Gulf International Bank UK Ltd’s holdings in T. Rowe Price Group were worth $9,064,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in TROW. Alliancebernstein L.P. lifted its position in shares of T. Rowe Price Group by 0.8% during the 4th quarter. Alliancebernstein L.P. now owns 468,190 shares of the asset manager’s stock valued at $49,127,000 after acquiring an additional 3,555 shares during the period. MML Investors Services LLC lifted its position in shares of T. Rowe Price Group by 23.0% during the 4th quarter. MML Investors Services LLC now owns 13,260 shares of the asset manager’s stock valued at $1,391,000 after acquiring an additional 2,479 shares during the period. Koch Industries Inc. acquired a new stake in shares of T. Rowe Price Group during the 4th quarter valued at approximately $439,000. Profund Advisors LLC lifted its position in shares of T. Rowe Price Group by 37.0% during the 4th quarter. Profund Advisors LLC now owns 8,120 shares of the asset manager’s stock valued at $852,000 after acquiring an additional 2,191 shares during the period. Finally, AMP Capital Investors Ltd lifted its position in shares of T. Rowe Price Group by 28.9% during the 4th quarter. AMP Capital Investors Ltd now owns 90,893 shares of the asset manager’s stock valued at $9,538,000 after acquiring an additional 20,393 shares during the period. Hedge funds and other institutional investors own 72.07% of the company’s stock.

A number of research firms have recently issued reports on TROW. BidaskClub downgraded shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Tuesday. Zacks Investment Research upgraded shares of T. Rowe Price Group from a “hold” rating to a “buy” rating and set a $130.00 price target for the company in a research report on Monday, July 2nd. Deutsche Bank reduced their price target on shares of T. Rowe Price Group from $116.00 to $114.00 and set a “hold” rating for the company in a research report on Friday, April 6th. Credit Suisse Group upgraded shares of T. Rowe Price Group from a “neutral” rating to an “outperform” rating and set a $123.00 price target for the company in a research report on Wednesday, May 16th. Finally, UBS Group lifted their price target on shares of T. Rowe Price Group from $113.00 to $117.00 and gave the company a “neutral” rating in a research report on Thursday, April 26th. One research analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company. T. Rowe Price Group presently has a consensus rating of “Hold” and an average price target of $114.60.

Shares of T. Rowe Price Group opened at $115.50 on Friday, according to MarketBeat. T. Rowe Price Group Inc has a 1-year low of $74.30 and a 1-year high of $127.43. The company has a market cap of $28.02 billion, a PE ratio of 21.27, a price-to-earnings-growth ratio of 1.47 and a beta of 1.22.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings data on Wednesday, April 25th. The asset manager reported $1.74 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.65 by $0.09. T. Rowe Price Group had a net margin of 31.10% and a return on equity of 26.93%. The business had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.28 billion. During the same period last year, the company posted $1.18 EPS. The company’s revenue was up 17.3% on a year-over-year basis. research analysts predict that T. Rowe Price Group Inc will post 7.05 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 29th. Stockholders of record on Friday, June 15th were paid a dividend of $0.70 per share. The ex-dividend date of this dividend was Thursday, June 14th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.42%. T. Rowe Price Group’s dividend payout ratio (DPR) is 51.57%.

T. Rowe Price Group announced that its board has approved a stock buyback program on Thursday, April 26th that permits the company to repurchase 10,000,000 shares. This repurchase authorization permits the asset manager to repurchase shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.

In other T. Rowe Price Group news, VP Edward A. Wiese sold 40,000 shares of T. Rowe Price Group stock in a transaction that occurred on Thursday, June 14th. The shares were sold at an average price of $123.75, for a total value of $4,950,000.00. Following the completion of the sale, the vice president now directly owns 132,219 shares of the company’s stock, valued at approximately $16,362,101.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO William J. Stromberg sold 21,000 shares of T. Rowe Price Group stock in a transaction that occurred on Tuesday, June 12th. The stock was sold at an average price of $125.48, for a total transaction of $2,635,080.00. Following the completion of the sale, the chief executive officer now directly owns 539,020 shares of the company’s stock, valued at $67,636,229.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 102,000 shares of company stock valued at $12,746,220. Corporate insiders own 3.10% of the company’s stock.

T. Rowe Price Group Company 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.

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

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