Jensen Investment Management Inc. Cuts Stake in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Jensen Investment Management Inc. trimmed its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 0.7% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 31,950 shares of the asset manager’s stock after selling 236 shares during the period. Jensen Investment Management Inc.’s holdings in T. Rowe Price Group were worth $3,684,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Massmutual Trust Co. FSB ADV grew its position in T. Rowe Price Group by 7.5% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 1,236 shares of the asset manager’s stock valued at $151,000 after purchasing an additional 86 shares during the last quarter. ST Germain D J Co. Inc. grew its position in T. Rowe Price Group by 0.3% during the 1st quarter. ST Germain D J Co. Inc. now owns 31,065 shares of the asset manager’s stock valued at $3,787,000 after purchasing an additional 88 shares during the last quarter. MCF Advisors LLC grew its position in T. Rowe Price Group by 1.6% during the 1st quarter. MCF Advisors LLC now owns 5,953 shares of the asset manager’s stock valued at $726,000 after purchasing an additional 92 shares during the last quarter. Paulson Wealth Management Inc. grew its position in T. Rowe Price Group by 4.9% during the 1st quarter. Paulson Wealth Management Inc. now owns 2,028 shares of the asset manager’s stock valued at $247,000 after purchasing an additional 95 shares during the last quarter. Finally, CVA Family Office LLC grew its position in T. Rowe Price Group by 28.3% during the 2nd quarter. CVA Family Office LLC now owns 462 shares of the asset manager’s stock valued at $53,000 after purchasing an additional 102 shares during the last quarter. 73.39% of the stock is owned by hedge funds and other institutional investors.

T. Rowe Price Group Price Performance

Shares of NASDAQ:TROW traded up $0.21 during trading on Friday, hitting $104.33. The company’s stock had a trading volume of 81,066 shares, compared to its average volume of 1,265,472. The company has a 50-day moving average of $110.95 and a 200-day moving average of $113.74. T. Rowe Price Group, Inc. has a 12 month low of $87.43 and a 12 month high of $122.27. The firm has a market cap of $23.30 billion, a price-to-earnings ratio of 12.37, a P/E/G ratio of 1.69 and a beta of 1.41.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings data on Friday, July 26th. The asset manager reported $2.26 earnings per share for the quarter, missing the consensus estimate of $2.27 by ($0.01). T. Rowe Price Group had a return on equity of 19.90% and a net margin of 28.66%. The business had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.79 billion. During the same quarter last year, the company earned $2.02 EPS. T. Rowe Price Group’s revenue for the quarter was up 7.6% on a year-over-year basis. As a group, research analysts anticipate that T. Rowe Price Group, Inc. will post 9 earnings per share for the current year.

T. Rowe Price Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be paid a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a yield of 4.75%. The ex-dividend date is Friday, September 13th. T. Rowe Price Group’s payout ratio is 58.91%.

Insiders Place Their Bets

In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 1,401 shares of the firm’s stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $115.85, for a total transaction of $162,305.85. Following the sale, the insider now owns 14,198 shares in the company, valued at approximately $1,644,838.30. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 1,401 shares of the firm’s stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $115.85, for a total transaction of $162,305.85. Following the sale, the insider now owns 14,198 shares in the company, valued at approximately $1,644,838.30. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Dorothy C. Sawyer sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $117.00, for a total transaction of $234,000.00. Following the sale, the vice president now owns 34,710 shares in the company, valued at approximately $4,061,070. The disclosure for this sale can be found here. 2.00% of the stock is owned by company insiders.

Analysts Set New Price Targets

TROW has been the topic of a number of recent analyst reports. Barclays initiated coverage on shares of T. Rowe Price Group in a report on Tuesday, August 27th. They set an “underweight” rating and a $99.00 price target on the stock. Deutsche Bank Aktiengesellschaft raised their price target on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the company a “hold” rating in a report on Thursday, August 15th. Evercore ISI dropped their price target on shares of T. Rowe Price Group from $115.00 to $108.00 and set an “in-line” rating on the stock in a report on Thursday. StockNews.com downgraded shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $120.00 price target (down previously from $121.00) on shares of T. Rowe Price Group in a report on Monday, July 29th. Four research analysts have rated the stock with a sell rating and seven have issued a hold rating to the company. According to data from MarketBeat.com, T. Rowe Price Group has a consensus rating of “Hold” and an average price target of $113.20.

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.