Man Group plc Purchases New Holdings in T. Rowe Price Group, Inc. $TROW

Man Group plc acquired a new position in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 70,255 shares of the asset manager's stock, valued at approximately $7,987,000.

Several other large investors have also recently bought and sold shares of TROW. TD Private Client Wealth LLC boosted its holdings in T. Rowe Price Group by 91.8% in the fourth quarter. TD Private Client Wealth LLC now owns 257 shares of the asset manager's stock valued at $26,000 after acquiring an additional 123 shares during the last quarter. DV Equities LLC acquired a new stake in T. Rowe Price Group in the fourth quarter worth about $32,000. Motiv8 Investments LLC bought a new stake in T. Rowe Price Group during the 4th quarter worth about $35,000. Bank & Trust Co raised its holdings in T. Rowe Price Group by 52.4% during the 2nd quarter. Bank & Trust Co now owns 314 shares of the asset manager's stock worth $36,000 after purchasing an additional 108 shares during the last quarter. Finally, Keating Financial Advisory Services Inc. acquired a new position in T. Rowe Price Group during the 2nd quarter valued at about $39,000. Institutional investors and hedge funds own 73.39% of the company's stock.

Insider Buying and Selling

In other T. Rowe Price Group news, VP Joshua B. Nelson sold 10,000 shares of the company'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 completion of the sale, the vice president owned 71,328 shares of the company's stock, valued at approximately $7,975,896.96. This represents a 12.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.60% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. The Goldman Sachs Group raised their target price on shares of T. Rowe Price Group from $90.00 to $92.00 and gave the company a "sell" rating in a research note on Tuesday, June 30th. Zacks Research downgraded shares of T. Rowe Price Group from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 13th. Evercore set a $118.00 price objective on shares of T. Rowe Price Group in a report on Monday, August 10th. Morgan Stanley set a $116.00 price objective on shares of T. Rowe Price Group in a research note on Wednesday, July 29th. Finally, 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 report on Monday, August 3rd. Ten analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of "Reduce" and a consensus price target of $105.67.

T. Rowe Price Group Trading Down 1.0%

Shares of TROW opened at $111.24 on Friday. The stock has a market cap of $23.73 billion, a P/E 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 1 year low of $85.22 and a 1 year high of $122.00. The stock's 50-day moving average price is $114.35 and its two-hundred day moving average price is $103.34.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last announced its quarterly earnings results on Friday, July 31st. The asset manager reported $2.57 EPS for the quarter, beating analysts' consensus estimates of $2.52 by $0.05. The company had revenue of $1.91 billion during the quarter, compared to analysts' expectations of $1.89 billion. T. Rowe Price Group had a return on equity of 20.91% and a net margin of 29.26%.T. Rowe Price Group's revenue was up 10.7% on a year-over-year basis. During the same period in the prior year, the business posted $2.24 EPS. As a group, equities analysts forecast that T. Rowe Price Group, Inc. will post 10.15 EPS for the current year.

T. Rowe Price Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th will be issued 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 yield of 4.7%. T. Rowe Price Group's payout ratio is currently 52.16%.

About T. Rowe Price Group

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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