Equitable Holdings Inc. acquired a new stake in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 11,545 shares of the asset manager's stock, valued at approximately $1,313,000.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Wealthcare Capital Partners LLC grew its holdings in shares of T. Rowe Price Group by 1.0% during the second quarter. Wealthcare Capital Partners LLC now owns 9,565 shares of the asset manager's stock worth $1,087,000 after buying an additional 93 shares in the last quarter. Kesler Norman & Wride LLC lifted its stake in shares of T. Rowe Price Group by 0.6% in the second quarter. Kesler Norman & Wride LLC now owns 15,914 shares of the asset manager's stock worth $1,809,000 after buying an additional 96 shares in the last quarter. MassMutual Private Wealth & Trust FSB boosted its position in T. Rowe Price Group by 9.4% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,150 shares of the asset manager's stock worth $131,000 after acquiring an additional 99 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its position in T. Rowe Price Group by 0.4% during the first quarter. Oregon Public Employees Retirement Fund now owns 25,062 shares of the asset manager's stock worth $2,259,000 after acquiring an additional 100 shares during the last quarter. Finally, Concorde Asset Management LLC grew its stake in T. Rowe Price Group by 3.9% during the 1st quarter. Concorde Asset Management LLC now owns 2,730 shares of the asset manager's stock valued at $246,000 after acquiring an additional 102 shares in the last quarter. Institutional investors and hedge funds own 73.39% of the company's stock.
Insider Buying and Selling at T. Rowe Price Group
In other news, VP Joshua B. Nelson sold 10,000 shares of the business's stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $111.82, for a total value of $1,118,200.00. Following the sale, the vice president directly owned 71,328 shares of the company's stock, valued at approximately $7,975,896.96. The trade was a 12.30% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.60% of the stock is currently owned by corporate insiders.
T. Rowe Price Group Stock Down 1.0%
Shares of T. Rowe Price Group stock opened at $111.24 on Friday. The firm has a market cap of $23.73 billion, a PE ratio of 11.16, a price-to-earnings-growth ratio of 3.72 and a beta of 1.47. T. Rowe Price Group, Inc. has a 52 week low of $85.22 and a 52 week high of $122.00. The business's fifty day simple moving average is $114.35 and its 200-day simple moving average is $103.34.
T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last issued its quarterly earnings data on Friday, July 31st. The asset manager reported $2.57 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.52 by $0.05. The firm had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.89 billion. T. Rowe Price Group had a return on equity of 20.91% and a net margin of 29.26%.The company's quarterly revenue was up 10.7% on a year-over-year basis. During the same period last year, the company earned $2.24 EPS. As a group, equities analysts expect that T. Rowe Price Group, Inc. will post 10.15 earnings per share for the current year.
T. Rowe Price Group Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 15th will be given a dividend of $1.30 per share. The ex-dividend date is Tuesday, September 15th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.7%. T. Rowe Price Group's dividend payout ratio (DPR) is currently 52.16%.
Analyst Ratings Changes
A number of analysts have commented on TROW shares. The Goldman Sachs Group increased their price objective on shares of T. Rowe Price Group from $90.00 to $92.00 and gave the company a "sell" rating in a report on Tuesday, June 30th. BMO Capital Markets boosted their target price on T. Rowe Price Group from $110.00 to $120.00 and gave the stock a "market perform" rating in a report on Monday, August 3rd. Morgan Stanley set a $116.00 price target on T. Rowe Price Group in a research report on Wednesday, July 29th. Keefe, Bruyette & Woods reiterated a "market perform" rating and set a $115.00 price objective (down from $120.00) on shares of T. Rowe Price Group in a research report on Monday, August 3rd. Finally, Barclays lowered their price objective on T. Rowe Price Group from $108.00 to $103.00 and set an "underweight" rating on the stock in a research note on Monday, August 3rd. Ten analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Reduce" and an average price target of $105.67.
Check Out Our Latest Analysis on TROW
T. Rowe Price Group Company Profile
(
Free Report)
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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