Ethic Inc. Purchases 7,125 Shares of T. Rowe Price Group, Inc. $TROW

Ethic Inc. raised its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 43.4% in the 2nd quarter, Holdings Channel.com reports. The firm owned 23,560 shares of the asset manager’s stock after acquiring an additional 7,125 shares during the quarter. Ethic Inc.’s holdings in T. Rowe Price Group were worth $2,264,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Invesco Ltd. lifted its position in shares of T. Rowe Price Group by 43.2% during the first quarter. Invesco Ltd. now owns 3,433,684 shares of the asset manager’s stock worth $315,453,000 after acquiring an additional 1,035,865 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of T. Rowe Price Group by 7.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 7,706,251 shares of the asset manager’s stock worth $707,973,000 after acquiring an additional 519,075 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of T. Rowe Price Group during the second quarter worth $37,722,000. Vanguard Group Inc. lifted its position in shares of T. Rowe Price Group by 0.9% during the first quarter. Vanguard Group Inc. now owns 26,286,393 shares of the asset manager’s stock worth $2,414,931,000 after acquiring an additional 222,556 shares in the last quarter. Finally, Vest Financial LLC lifted its position in shares of T. Rowe Price Group by 31.1% during the second quarter. Vest Financial LLC now owns 616,351 shares of the asset manager’s stock worth $59,478,000 after acquiring an additional 146,382 shares in the last quarter. 73.39% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Zacks Research upgraded T. Rowe Price Group from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 10th. Jefferies Financial Group increased their target price on T. Rowe Price Group from $104.00 to $106.00 and gave the stock a “hold” rating in a research report on Tuesday, October 7th. Weiss Ratings restated a “hold (c)” rating on shares of T. Rowe Price Group in a research report on Friday. The Goldman Sachs Group increased their target price on T. Rowe Price Group from $91.00 to $92.00 and gave the stock a “sell” rating in a research report on Friday, October 3rd. Finally, Evercore ISI increased their price objective on T. Rowe Price Group from $115.00 to $118.00 and gave the stock an “in-line” rating in a research report on Thursday, October 9th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, ten have given a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Reduce” and an average target price of $107.54.

T. Rowe Price Group Stock Up 1.0%

Shares of TROW stock opened at $103.55 on Friday. The business has a 50-day moving average price of $105.34 and a two-hundred day moving average price of $99.48. T. Rowe Price Group, Inc. has a 12-month low of $77.85 and a 12-month high of $125.81. The firm has a market cap of $22.75 billion, a P/E ratio of 11.57, a price-to-earnings-growth ratio of 5.62 and a beta of 1.50.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings results on Friday, August 1st. The asset manager reported $2.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.09. T. Rowe Price Group had a return on equity of 19.77% and a net margin of 28.72%.The firm had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.72 billion. During the same quarter in the previous year, the company posted $2.26 earnings per share. The company’s revenue was down .6% compared to the same quarter last year. As a group, research analysts expect that T. Rowe Price Group, Inc. will post 9.29 EPS for the current fiscal year.

T. Rowe Price Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Monday, September 15th were paid a dividend of $1.27 per share. The ex-dividend date of this dividend was Monday, September 15th. This represents a $5.08 annualized dividend and a yield of 4.9%. T. Rowe Price Group’s payout ratio is 56.76%.

Insider Transactions at T. Rowe Price Group

In other T. Rowe Price Group news, Director Robert F. Maclellan sold 3,090 shares of T. Rowe Price Group stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $105.01, for a total transaction of $324,480.90. Following the completion of the sale, the director owned 47,335 shares of the company’s stock, valued at $4,970,648.35. The trade was a 6.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.00% of the stock is currently owned by company insiders.

About T. Rowe Price Group

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.