T. Rowe Price Group, Inc. $TROW Shares Purchased by Kestra Investment Management LLC

Key Points

• Kestra Investment Management LLC increased its stake in T. Rowe Price Group by 268.4% during the first quarter, owning 35,402 shares valued at approximately $3.25 million.
• Several other investment firms also boosted their holdings, with 73.39% of the stock now owned by institutional investors.
• T. Rowe Price Group recently announced a quarterly dividend of $1.27 per share, with a dividend yield of 4.7% and a payout ratio of 56.76%.

Kestra Investment Management LLC raised its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 268.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 35,402 shares of the asset manager's stock after acquiring an additional 25,793 shares during the quarter. Kestra Investment Management LLC's holdings in T. Rowe Price Group were worth $3,252,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in TROW. Cooper Financial Group increased its position in shares of T. Rowe Price Group by 5.2% during the first quarter. Cooper Financial Group now owns 2,234 shares of the asset manager's stock worth $205,000 after purchasing an additional 110 shares in the last quarter. Hexagon Capital Partners LLC boosted its stake in T. Rowe Price Group by 44.8% during the 1st quarter. Hexagon Capital Partners LLC now owns 365 shares of the asset manager's stock worth $34,000 after purchasing an additional 113 shares during the last quarter. Associated Banc Corp grew its holdings in shares of T. Rowe Price Group by 0.5% during the first quarter. Associated Banc Corp now owns 24,864 shares of the asset manager's stock worth $2,284,000 after buying an additional 114 shares in the last quarter. Wealthcare Capital Partners LLC raised its position in shares of T. Rowe Price Group by 1.2% in the first quarter. Wealthcare Capital Partners LLC now owns 9,429 shares of the asset manager's stock valued at $866,000 after buying an additional 115 shares during the last quarter. Finally, Cullen Investment Group LTD. lifted its stake in shares of T. Rowe Price Group by 0.9% in the first quarter. Cullen Investment Group LTD. now owns 13,554 shares of the asset manager's stock worth $1,245,000 after buying an additional 117 shares in the last quarter. Hedge funds and other institutional investors own 73.39% of the company's stock.

Insider Buying and Selling at T. Rowe Price Group

In related news, VP Dorothy C. Sawyer sold 2,000 shares of T. Rowe Price Group stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $95.43, for a total value of $190,860.00. Following the completion of the sale, the vice president owned 44,789 shares in the company, valued at approximately $4,274,214.27. This trade represents a 4.27% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.60% of the company's stock.

Analysts Set New Price Targets

TROW has been the subject of several research reports. Keefe, Bruyette & Woods upped their price objective on shares of T. Rowe Price Group from $110.00 to $112.00 and gave the company a "market perform" rating in a research note on Monday, August 4th. Wells Fargo & Company upped their price target on T. Rowe Price Group from $98.00 to $108.00 and gave the company an "equal weight" rating in a research report on Friday, July 11th. Evercore ISI reaffirmed a "positive" rating on shares of T. Rowe Price Group in a report on Friday. Morgan Stanley upped their target price on T. Rowe Price Group from $112.00 to $116.00 and gave the company an "equal weight" rating in a report on Monday, August 4th. Finally, JPMorgan Chase & Co. lifted their price target on T. Rowe Price Group from $98.00 to $102.00 and gave the stock an "underweight" rating in a report on Monday, August 4th. One investment analyst has rated the stock with a Buy rating, seven have given a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat.com, T. Rowe Price Group has an average rating of "Reduce" and an average target price of $101.55.

T. Rowe Price Group Stock Performance

Shares of T. Rowe Price Group stock traded down $1.02 during trading hours on Tuesday, hitting $107.15. The company's stock had a trading volume of 1,344,135 shares, compared to its average volume of 1,347,287. The stock has a market cap of $23.54 billion, a price-to-earnings ratio of 11.97, a P/E/G ratio of 2.82 and a beta of 1.51. T. Rowe Price Group, Inc. has a twelve month low of $77.85 and a twelve month high of $125.81. The firm has a fifty day moving average of $105.34 and a 200-day moving average of $97.48.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last issued its quarterly earnings data on Friday, August 1st. The asset manager reported $2.24 earnings per share (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 firm had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.72 billion. During the same period in the previous year, the firm earned $2.26 EPS. T. Rowe Price Group's revenue was down .6% on a year-over-year basis. On average, sell-side analysts expect that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Monday, September 15th will be issued a $1.27 dividend. This represents a $5.08 annualized dividend and a dividend yield of 4.7%. The ex-dividend date is Monday, September 15th. T. Rowe Price Group's dividend payout ratio is currently 56.76%.

T. Rowe Price Group Company 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.