Hardy Reed LLC Has $551,000 Stock Holdings in T. Rowe Price Group, Inc. $TROW

Key Points

• Hardy Reed LLC increased its stake in T. Rowe Price Group by 111.8% in Q2, now owning 5,711 shares valued at $551,000.
• T. Rowe Price Group reported a net margin of 28.72% and a return on equity of 19.77% for Q2, with a revenue of $1.72 billion.
• The firm offered a quarterly dividend of $1.27, resulting in an annualized dividend yield of 4.8% with a payout ratio of 56.76%.

Hardy Reed LLC boosted its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 111.8% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 5,711 shares of the asset manager's stock after buying an additional 3,015 shares during the period. Hardy Reed LLC's holdings in T. Rowe Price Group were worth $551,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of TROW. Bennett Associates Wealth Management bought a new stake in shares of T. Rowe Price Group during the second quarter worth approximately $333,000. SteelPeak Wealth LLC lifted its holdings in T. Rowe Price Group by 25.1% during the 2nd quarter. SteelPeak Wealth LLC now owns 2,753 shares of the asset manager's stock worth $266,000 after purchasing an additional 552 shares during the last quarter. Belpointe Asset Management LLC boosted its stake in T. Rowe Price Group by 125.5% in the 2nd quarter. Belpointe Asset Management LLC now owns 8,866 shares of the asset manager's stock valued at $856,000 after purchasing an additional 4,935 shares during the period. Confluence Wealth Services Inc. boosted its stake in T. Rowe Price Group by 3.5% in the 2nd quarter. Confluence Wealth Services Inc. now owns 12,265 shares of the asset manager's stock valued at $1,183,000 after purchasing an additional 410 shares during the period. Finally, Valeo Financial Advisors LLC grew its holdings in T. Rowe Price Group by 32.1% in the 2nd quarter. Valeo Financial Advisors LLC now owns 3,609 shares of the asset manager's stock valued at $348,000 after buying an additional 878 shares in the last quarter. 73.39% of the stock is owned by institutional investors.

Insider Transactions at T. Rowe Price Group

In other T. Rowe Price Group news, Director Robert F. Maclellan sold 3,090 shares of the business's 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 transaction, the director owned 47,335 shares of the company's stock, valued at approximately $4,970,648.35. The trade was a 6.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.60% of the stock is currently owned by corporate insiders.

T. Rowe Price Group Trading Up 2.3%

NASDAQ TROW opened at $105.69 on Tuesday. The firm has a market capitalization of $23.22 billion, a price-to-earnings ratio of 11.81, a P/E/G ratio of 6.68 and a beta of 1.50. The firm's 50 day simple moving average is $105.71 and its 200 day simple moving average is $98.22. T. Rowe Price Group, Inc. has a 1 year low of $77.85 and a 1 year high of $125.81.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last announced its quarterly earnings data on Friday, August 1st. The asset manager reported $2.24 EPS for the quarter, beating the consensus estimate 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 business had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.72 billion. During the same period in the previous year, the business earned $2.26 earnings per share. The company's revenue was down .6% on a year-over-year basis. On average, equities research analysts forecast that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current year.

T. Rowe Price Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Monday, September 15th were paid a $1.27 dividend. The ex-dividend date of this dividend was Monday, September 15th. This represents a $5.08 annualized dividend and a yield of 4.8%. T. Rowe Price Group's dividend payout ratio (DPR) is 56.76%.

Analysts Set New Price Targets

TROW has been the subject of a number of recent research reports. Bank of America boosted their target price on shares of T. Rowe Price Group from $91.00 to $97.00 and gave the company an "underperform" rating in a research report on Thursday, October 2nd. Barclays reissued an "underweight" rating and issued a $95.00 price objective (up previously from $91.00) on shares of T. Rowe Price Group in a report on Monday, August 4th. The Goldman Sachs Group lifted their price target on shares of T. Rowe Price Group from $91.00 to $92.00 and gave the company a "sell" rating in a research report on Friday. Morgan Stanley boosted their price target on T. Rowe Price Group from $116.00 to $125.00 and gave the company a "positive" rating in a research note on Monday. Finally, BMO Capital Markets initiated coverage on T. Rowe Price Group in a research note on Friday. They set a "market perform" rating and a $108.00 price objective on the stock. Two analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and four have issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Reduce" and a consensus price target of $104.83.

T. Rowe Price Group 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.