T. Rowe Price board increases buyback authorization by 15 million shares

T. Rowe Price ups buyback authorization by 15M

BALTIMORE — Investment manager T. Rowe Price Group Inc. on Wednesday said its board increased its common stock buyback authorization by 15 million shares.

That brings the total repurchase authorization remaining to about 22.4 million shares. According to Thomson Reuters, there are 256.35 million shares outstanding.

Through June 30, the company spent $175 million to repurchase 3.6 million shares.

T. Rowe Price shares closed Wednesday trading up 75 cents at $47.67. The stock has moved between $42.81 and $59.44 in the past 52 weeks.