Sanctuary Advisors LLC purchased a new stake in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 14,668 shares of the asset manager's stock, valued at approximately $1,668,000.
A number of other large investors have also recently bought and sold shares of the stock. Wealthcare Capital Partners LLC lifted 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 valued at $1,087,000 after acquiring an additional 93 shares during the period. Kesler Norman & Wride LLC grew its holdings in shares of T. Rowe Price Group by 0.6% in the 2nd quarter. Kesler Norman & Wride LLC now owns 15,914 shares of the asset manager's stock worth $1,809,000 after purchasing an additional 96 shares during the last quarter. MassMutual Private Wealth & Trust FSB grew its holdings in shares of T. Rowe Price Group by 9.4% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,150 shares of the asset manager's stock worth $131,000 after purchasing an additional 99 shares during the last quarter. Oregon Public Employees Retirement Fund increased its position in shares of T. Rowe Price Group by 0.4% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 25,062 shares of the asset manager's stock worth $2,259,000 after purchasing an additional 100 shares in the last quarter. Finally, Concorde Asset Management LLC lifted its holdings 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 purchasing an additional 102 shares during the last quarter. 73.39% of the stock is currently owned by institutional investors.
T. Rowe Price Group Price Performance
Shares of NASDAQ TROW opened at $112.55 on Thursday. The company's 50 day simple moving average is $114.18 and its 200 day simple moving average is $103.16. T. Rowe Price Group, Inc. has a fifty-two week low of $85.22 and a fifty-two week high of $122.00. The firm has a market capitalization of $24.01 billion, a P/E ratio of 11.29, a P/E/G ratio of 3.74 and a beta of 1.47.
T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last announced its quarterly earnings data on Friday, July 31st. The asset manager reported $2.57 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 firm had revenue of $1.91 billion for the quarter, compared to analysts' expectations of $1.89 billion. During the same period last year, the firm earned $2.24 earnings per share. The business's revenue for the quarter was up 10.7% on a year-over-year basis. Sell-side analysts expect that T. Rowe Price Group, Inc. will post 10.15 EPS for the current fiscal year.
T. Rowe Price Group Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 15th will be given a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 4.6%. The ex-dividend date is Tuesday, September 15th. T. Rowe Price Group's dividend payout ratio (DPR) is currently 52.16%.
Analyst Upgrades and Downgrades
Several research firms have recently weighed in on TROW. Morgan Stanley set a $116.00 price objective on shares of T. Rowe Price Group in a report on Wednesday, July 29th. Barclays decreased their price target on T. Rowe Price Group from $108.00 to $103.00 and set an "underweight" rating on the stock in a research report on Monday, August 3rd. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and issued a $109.00 price objective on shares of T. Rowe Price Group in a research report on Monday, August 3rd. Evercore set a $118.00 price objective on T. Rowe Price Group in a research note on Monday, August 10th. Finally, Zacks Research cut T. Rowe Price Group from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 13th. Ten research analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat.com, T. Rowe Price Group has a consensus rating of "Reduce" and an average target price of $105.67.
Check Out Our Latest Analysis on T. Rowe Price Group
Insider Activity at T. Rowe Price Group
In related news, VP Joshua B. Nelson sold 10,000 shares of T. Rowe Price Group stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $111.82, for a total transaction of $1,118,200.00. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.60% of the stock is currently owned by company insiders.
About T. Rowe Price Group
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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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