Koch Industries Inc. Acquires Shares of 308,361 T. Rowe Price Group, Inc. (TROW)

Koch Industries Inc. acquired a new position in T. Rowe Price Group, Inc. (NASDAQ:TROW) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 308,361 shares of the asset manager’s stock, valued at approximately $304,000. Koch Industries Inc. owned 0.13% of T. Rowe Price Group as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of TROW. Bronfman E.L. Rothschild L.P. grew its position in T. Rowe Price Group by 6.9% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 1,593 shares of the asset manager’s stock worth $118,000 after acquiring an additional 103 shares during the period. Quadrant Capital Group LLC grew its position in T. Rowe Price Group by 5.4% in the second quarter. Quadrant Capital Group LLC now owns 1,749 shares of the asset manager’s stock worth $121,000 after acquiring an additional 89 shares during the period. Sun Life Financial INC grew its position in T. Rowe Price Group by 19,500.0% in the second quarter. Sun Life Financial INC now owns 1,764 shares of the asset manager’s stock worth $131,000 after acquiring an additional 1,755 shares during the period. FNY Partners Fund LP purchased a new position in T. Rowe Price Group in the first quarter worth approximately $147,000. Finally, Mckinley Capital Management LLC Delaware purchased a new position in T. Rowe Price Group in the second quarter worth approximately $152,000. Institutional investors own 73.62% of the company’s stock.

T. Rowe Price Group, Inc. (NASDAQ TROW) opened at 95.25 on Thursday. T. Rowe Price Group, Inc. has a 52-week low of $62.97 and a 52-week high of $95.95. The stock has a market capitalization of $22.89 billion, a price-to-earnings ratio of 16.35 and a beta of 1.25. The stock’s 50 day moving average price is $88.10 and its 200 day moving average price is $78.59.

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 for the quarter, topping analysts’ consensus estimates of $1.27 by $0.01. T. Rowe Price Group had a net margin of 32.64% and a return on equity of 24.38%. The firm had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.16 billion. During the same period in the prior year, the company earned $0.76 EPS. The firm’s revenue was up 12.1% on a year-over-year basis. On average, analysts forecast that T. Rowe Price Group, Inc. will post $5.79 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 28th. Investors of record on Thursday, September 14th were given a dividend of $0.57 per share. The ex-dividend date of this dividend was Wednesday, September 13th. This represents a $2.28 dividend on an annualized basis and a yield of 2.38%. T. Rowe Price Group’s dividend payout ratio (DPR) is 39.18%.

In related news, insider Jessica M. Hiebler sold 1,000 shares of the company’s stock in a transaction 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 directly owns 8,461 shares of the company’s stock, valued at approximately $713,177.69. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Anne M. Whittemore sold 8,326 shares of the company’s stock in a transaction 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 directly owns 28,982 shares of the company’s stock, valued at $2,377,393.46. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 36,924 shares of company stock valued at $3,187,333. 3.60% of the stock is owned by corporate insiders.

TROW has been the subject of several analyst reports. Morgan Stanley reiterated an “underweight” rating and issued a $70.00 price objective (up from $64.00) on shares of T. Rowe Price Group in a research report on Monday, July 10th. UBS AG reiterated a “sell” rating and issued a $63.00 price objective (up from $62.00) on shares of T. Rowe Price Group in a research report on Friday, July 14th. Credit Suisse Group increased their price objective on T. Rowe Price Group from $70.00 to $90.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 26th. Citigroup Inc. increased their price objective on T. Rowe Price Group from $73.50 to $90.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 26th. Finally, Wells Fargo & Company reiterated a “market perform” rating on shares of T. Rowe Price Group in a research report on Thursday, July 27th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $87.60.

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About T. Rowe Price Group

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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