Nykredit A S bought a new stake in T. Rowe Price Group, Inc. (NASDAQ:TROW – Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 74,115 shares of the asset manager’s stock, valued at approximately $8,426,000.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. TD Private Client Wealth LLC raised its holdings in T. Rowe Price Group by 91.8% in the 4th quarter. TD Private Client Wealth LLC now owns 257 shares of the asset manager’s stock valued at $26,000 after buying an additional 123 shares during the last quarter. DV Equities LLC bought a new stake in T. Rowe Price Group during the 4th quarter worth approximately $32,000. Motiv8 Investments LLC bought a new stake in T. Rowe Price Group during the 4th quarter worth approximately $35,000. Bank & Trust Co increased its position in T. Rowe Price Group by 52.4% in the 2nd quarter. Bank & Trust Co now owns 314 shares of the asset manager’s stock valued at $36,000 after acquiring an additional 108 shares during the period. Finally, Keating Financial Advisory Services Inc. acquired a new position in T. Rowe Price Group in the 2nd quarter valued at approximately $39,000. 73.39% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
TROW has been the topic of a number of recent research reports. UBS Group set a $110.00 price target on shares of T. Rowe Price Group in a report on Monday, August 31st. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $109.00 price objective on shares of T. Rowe Price Group in a report on Monday, August 3rd. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $115.00 target price (down from $120.00) on shares of T. Rowe Price Group in a research report on Monday, August 3rd. Morgan Stanley set a $116.00 target price on T. Rowe Price Group in a report on Wednesday, July 29th. Finally, TD Cowen upped their price target on T. Rowe Price Group from $108.00 to $110.00 and gave the company a “hold” rating in a research report on Monday, August 31st. One analyst has rated the stock with a Buy rating, nine have assigned a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat.com, T. Rowe Price Group presently has a consensus rating of “Reduce” and a consensus target price of $106.15.
Insider Buying and Selling at T. Rowe Price Group
In other news, VP Joshua Nelson sold 10,000 shares of the business’s stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $111.82, for a total value of $1,118,200.00. Following the transaction, the vice president directly owned 71,328 shares of the company’s stock, valued at $7,975,896.96. The trade was a 12.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.60% of the company’s stock.
T. Rowe Price Group Stock Performance
Shares of NASDAQ TROW opened at $109.78 on Friday. The company has a market capitalization of $23.42 billion, a P/E ratio of 11.01, a price-to-earnings-growth ratio of 3.63 and a beta of 1.46. T. Rowe Price Group, Inc. has a 52-week low of $85.22 and a 52-week high of $122.00. The company’s 50 day moving average price is $114.64 and its 200-day moving average price is $103.88.
T. Rowe Price Group (NASDAQ:TROW – Get Free Report) last posted its quarterly earnings data on Friday, July 31st. The asset manager reported $2.57 earnings per share for the quarter, topping the consensus estimate of $2.52 by $0.05. T. Rowe Price Group had a net margin of 29.26% and a return on equity of 20.91%. The company had revenue of $1.91 billion during the quarter, compared to analysts’ expectations of $1.89 billion. During the same period in the prior year, the company posted $2.24 earnings per share. T. Rowe Price Group’s revenue for the quarter was up 10.7% compared to the same quarter last year. Analysts forecast that T. Rowe Price Group, Inc. will post 10.16 earnings per share for the current year.
T. Rowe Price Group Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 15th will be issued a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 4.7%. The ex-dividend date is Tuesday, September 15th. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 52.16%.
T. Rowe Price Group Company Profile
T. Rowe Price Group, Inc is a global investment management firm headquartered in Baltimore, Maryland, founded by Thomas Rowe Price Jr. in 1937. The company provides a broad range of investment products and services for individual investors, financial intermediaries, retirement plan sponsors and institutional clients. Its offerings are built around active investment management and in-house research across equity, fixed income and multi-asset strategies, reflecting a long history as a research-driven asset manager.
The firm’s product lineup includes mutual funds, separate accounts, collective investment trusts, target-date and target-risk funds, and managed account solutions, as well as services for defined contribution and defined benefit retirement plans.
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