Banco Santander S.A. Decreases Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Banco Santander S.A. reduced its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 0.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 92,635 shares of the asset manager’s stock after selling 629 shares during the quarter. Banco Santander S.A.’s holdings in T. Rowe Price Group were worth $10,682,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Fisher Asset Management LLC raised its position in shares of T. Rowe Price Group by 6.7% in the 4th quarter. Fisher Asset Management LLC now owns 1,752,005 shares of the asset manager’s stock valued at $188,674,000 after purchasing an additional 109,653 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of T. Rowe Price Group by 21.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,352,683 shares of the asset manager’s stock worth $145,685,000 after buying an additional 236,697 shares during the period. First Trust Advisors LP grew its holdings in shares of T. Rowe Price Group by 1.3% during the fourth quarter. First Trust Advisors LP now owns 1,173,858 shares of the asset manager’s stock valued at $126,413,000 after buying an additional 15,504 shares during the last quarter. Confluence Investment Management LLC acquired a new position in shares of T. Rowe Price Group in the 1st quarter valued at $130,386,000. Finally, UBS Group AG increased its position in shares of T. Rowe Price Group by 473.3% in the 4th quarter. UBS Group AG now owns 975,226 shares of the asset manager’s stock valued at $105,022,000 after acquiring an additional 805,106 shares during the period. 73.39% of the stock is owned by institutional investors and hedge funds.

T. Rowe Price Group Stock Down 2.4 %

Shares of TROW stock traded down $2.55 during mid-day trading on Thursday, hitting $104.96. 2,070,332 shares of the stock were exchanged, compared to its average volume of 1,272,293. T. Rowe Price Group, Inc. has a 52-week low of $87.43 and a 52-week high of $122.27. The company has a market cap of $23.36 billion, a PE ratio of 12.47, a price-to-earnings-growth ratio of 1.74 and a beta of 1.42. The firm has a fifty day moving average of $112.44 and a 200 day moving average of $113.89.

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

T. Rowe Price Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be issued a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a yield of 4.73%. The ex-dividend date is Friday, September 13th. T. Rowe Price Group’s payout ratio is 58.91%.

Insider Activity

In related news, VP Dorothy C. Sawyer sold 2,000 shares of the company’s stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $117.00, for a total transaction of $234,000.00. Following the completion of the transaction, the vice president now owns 34,710 shares in the company, valued at approximately $4,061,070. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, insider Jessica M. Hiebler sold 1,401 shares of the company’s stock in a transaction 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 completion of the sale, the insider now owns 14,198 shares of the company’s stock, valued at $1,644,838.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Dorothy C. Sawyer sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $117.00, for a total transaction of $234,000.00. Following the completion of the transaction, the vice president now directly owns 34,710 shares in the company, valued at $4,061,070. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on TROW shares. 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 research report on Monday, July 29th. Barclays started coverage on T. Rowe Price Group in a research report on Tuesday. They issued an “underweight” rating and a $99.00 target price on the stock. JPMorgan Chase & Co. raised their price target on shares of T. Rowe Price Group from $102.00 to $107.00 and gave the stock an “underweight” rating in a research report on Tuesday, July 23rd. 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, Deutsche Bank Aktiengesellschaft raised their target price on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the stock a “hold” rating in a report on Thursday, August 15th. Four research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $113.10.

T. Rowe Price Group 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.