T. Rowe Price Group, Inc. $TROW Shares Purchased by Bessemer Group Inc.

Bessemer Group Inc. boosted its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 3.5% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 23,122 shares of the asset manager’s stock after purchasing an additional 786 shares during the quarter. Bessemer Group Inc.’s holdings in T. Rowe Price Group were worth $2,231,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of TROW. Zions Bancorporation National Association UT acquired a new stake in shares of T. Rowe Price Group in the 1st quarter worth about $27,000. Hexagon Capital Partners LLC grew its position in T. Rowe Price Group by 44.8% in the 1st quarter. Hexagon Capital Partners LLC now owns 365 shares of the asset manager’s stock worth $34,000 after purchasing an additional 113 shares during the last quarter. Curio Wealth LLC increased its stake in shares of T. Rowe Price Group by 20,700.0% in the second quarter. Curio Wealth LLC now owns 416 shares of the asset manager’s stock valued at $40,000 after purchasing an additional 414 shares during the period. Cromwell Holdings LLC increased its stake in shares of T. Rowe Price Group by 3,483.3% in the second quarter. Cromwell Holdings LLC now owns 430 shares of the asset manager’s stock valued at $41,000 after purchasing an additional 418 shares during the period. Finally, Chilton Capital Management LLC bought a new stake in shares of T. Rowe Price Group during the first quarter valued at approximately $41,000. Institutional investors and hedge funds own 73.39% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on TROW shares. TD Cowen increased their price objective on T. Rowe Price Group from $103.00 to $108.00 and gave the stock a “hold” rating in a report on Wednesday, October 8th. Weiss Ratings reissued a “hold (c)” rating on shares of T. Rowe Price Group in a research note on Wednesday, October 8th. Zacks Research raised T. Rowe Price Group from a “hold” rating to a “strong-buy” rating in a report on Friday, October 10th. Barclays upped their price objective on shares of T. Rowe Price Group from $95.00 to $103.00 and gave the stock an “underweight” rating in a report on Tuesday, October 21st. Finally, Morgan Stanley increased their target price on shares of T. Rowe Price Group from $125.00 to $126.00 and gave the company an “equal weight” rating in a research report on Monday. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus target price of $107.62.

T. Rowe Price Group Stock Down 1.3%

Shares of TROW stock opened at $102.13 on Friday. The stock has a 50-day simple moving average of $105.19 and a 200 day simple moving average of $100.03. The stock has a market capitalization of $22.44 billion, a P/E ratio of 11.41, a P/E/G ratio of 5.61 and a beta of 1.50. T. Rowe Price Group, Inc. has a fifty-two week low of $77.85 and a fifty-two week high of $125.81.

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 for the quarter, beating analysts’ consensus estimates of $2.15 by $0.09. T. Rowe Price Group had a net margin of 28.72% and a return on equity of 19.77%. The company had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.72 billion. During the same period in the prior year, the company earned $2.26 EPS. T. Rowe Price Group’s revenue was down .6% on a year-over-year basis. On average, sell-side analysts anticipate that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 30th. Investors of record on Monday, December 15th will be paid a dividend of $1.27 per share. The ex-dividend date of this dividend is Monday, December 15th. This represents a $5.08 annualized dividend and a yield of 5.0%. T. Rowe Price Group’s dividend payout ratio is currently 56.76%.

Insiders Place Their Bets

In related news, Director Robert F. Maclellan sold 3,090 shares of the firm’s stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $105.01, for a total transaction of $324,480.90. Following the completion of the sale, the director directly owned 47,335 shares in the company, valued at approximately $4,970,648.35. This trade represents a 6.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 2.00% of the company’s stock.

T. Rowe Price Group Company 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.