Folger Nolan Fleming Douglas Capital Management Inc Lowers stake in T. Rowe Price Group Inc (TROW)

T. Rowe Price Group Inc (TROW) : Folger Nolan Fleming Douglas Capital Management Inc reduced its stake in T. Rowe Price Group Inc by 0.38% during the most recent quarter end. The investment management company now holds a total of 123,935 shares of T. Rowe Price Group Inc which is valued at $8,518,053 after selling 475 shares in T. Rowe Price Group Inc , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.T. Rowe Price Group Inc makes up approximately 1.41% of Folger Nolan Fleming Douglas Capital Management Inc’s portfolio.

Other Hedge Funds, Including , Greenwich Investment Management boosted its stake in TROW in the latest quarter, The investment management firm added 328 additional shares and now holds a total of 79,276 shares of T. Rowe Price Group Inc which is valued at $5,448,639. T. Rowe Price Group Inc makes up approx 5.56% of Greenwich Investment Management’s portfolio.Edge Asset Management Inc reduced its stake in TROW by selling 51,969 shares or 31.53% in the most recent quarter. The Hedge Fund company now holds 112,871 shares of TROW which is valued at $7,864,851. T. Rowe Price Group Inc makes up approx 0.07% of Edge Asset Management Inc’s portfolio.Rafferty Asset Management reduced its stake in TROW by selling 8,193 shares or 23.83% in the most recent quarter. The Hedge Fund company now holds 26,190 shares of TROW which is valued at $1,807,372. T. Rowe Price Group Inc makes up approx 0.11% of Rafferty Asset Management’s portfolio.California Public Employees Retirement System reduced its stake in TROW by selling 16,700 shares or 2.47% in the most recent quarter. The Hedge Fund company now holds 658,975 shares of TROW which is valued at $45,535,173. T. Rowe Price Group Inc makes up approx 0.07% of California Public Employees Retirement System’s portfolio.

T. Rowe Price Group Inc closed down -0.79 points or -1.14% at $68.75 with 10,94,229 shares getting traded on Thursday. Post opening the session at $69.78, the shares hit an intraday low of $68.51 and an intraday high of $69.98 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

On the company’s financial health, T. Rowe Price Group Inc reported $1.15 EPS for the quarter, beating the analyst consensus estimate by $ 0.40 according to the earnings call on Jul 26, 2016. Analyst had a consensus of $0.75. The company had revenue of $1044.70 million for the quarter, compared to analysts expectations of $1031.13 million. The company’s revenue was down -2.6 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.24 EPS.

Investors should note that on Aug 24, 2016, T. Rowe Price Group Inc announced a cash dividend of $0.5400. The company’s management has announced Sep 13, 2016 as the ex-dividend date and fixed the record date on Sep 15, 2016. The payable date has been fixed on Sep 29, 2016.

Many Wall Street Analysts have commented on T. Rowe Price Group Inc. Shares were Downgraded by Deutsche Bank on Jul 20, 2016 to ” Hold” and Lowered the Price Target to $ 75 from a previous price target of $79 .

T. Rowe Price Group Inc. is a financial services holding company. The Company provides global investment management services to individual and institutional investors in the sponsored T. Rowe Price mutual funds distributed in the United States and other investment portfolios. Its assets under management are accumulated from a client base across four primary distribution channels: third-party financial intermediaries that distribute its managed investment portfolios in the United States and other countries; individual United States investors on a direct basis; the United States defined contribution retirement plans and institutional investors globally. The assets that it manages include a range of the United States and international stock blended asset bond and money market mutual funds and other investment portfolios. It offers advisory services and a distribution management service. It provides administrative services as ancillary services to its investment advisory clients.

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