T. Rowe Price Group, Inc. $TROW Shares Bought by PYA Waltman Capital LLC

Key Points

• PYA Waltman Capital increased its T. Rowe Price position by 85.4% in the second quarter, adding 16,360 shares for a total of 35,516 shares valued at approximately $4.04 million. Institutional investors collectively own 73.39% of TROW.
• Analysts remain cautious, with 10 Hold ratings and four Sell ratings, resulting in a consensus “Reduce” rating and an average price target of $106.15—below the stock’s reported $108.97 price.
• T. Rowe Price exceeded quarterly earnings and revenue expectations, reporting $2.57 in EPS and $1.91 billion in revenue, while declaring a quarterly dividend of $1.30 per share, representing a 4.8% annualized yield.

PYA Waltman Capital LLC lifted its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 85.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,516 shares of the asset manager's stock after purchasing an additional 16,360 shares during the period. T. Rowe Price Group comprises 1.0% of PYA Waltman Capital LLC's portfolio, making the stock its 24th largest position. PYA Waltman Capital LLC's holdings in T. Rowe Price Group were worth $4,038,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. TD Private Client Wealth LLC lifted its holdings in T. Rowe Price Group by 91.8% in the 4th quarter. TD Private Client Wealth LLC now owns 257 shares of the asset manager's stock worth $26,000 after buying an additional 123 shares in the last quarter. DV Equities LLC acquired a new stake in shares of T. Rowe Price Group during the fourth quarter valued at about $32,000. Motiv8 Investments LLC acquired a new stake in shares of T. Rowe Price Group during the fourth quarter valued at about $35,000. Bank & Trust Co increased its position in shares of T. Rowe Price Group by 52.4% during the second quarter. Bank & Trust Co now owns 314 shares of the asset manager's stock worth $36,000 after acquiring an additional 108 shares during the last quarter. Finally, Keating Financial Advisory Services Inc. purchased a new stake in shares of T. Rowe Price Group during the second quarter worth about $39,000. 73.39% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

TROW has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and issued a $109.00 price target on shares of T. Rowe Price Group in a report on Monday, August 3rd. UBS Group set a $110.00 price objective on T. Rowe Price Group in a report on Monday. Morgan Stanley set a $116.00 target price on T. Rowe Price Group in a research report on Wednesday, July 29th. BMO Capital Markets increased their target price on T. Rowe Price Group from $110.00 to $120.00 and gave the company a "market perform" rating in a research note on Monday, August 3rd. Finally, Evercore set a $118.00 price target on shares of T. Rowe Price Group in a research report on Monday, August 10th. Ten analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Reduce" and an average price target of $106.15.

Insider Activity

In related news, VP Joshua B. Nelson sold 10,000 shares of the firm's 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 transaction, the vice president directly owned 71,328 shares in the company, valued at $7,975,896.96. This trade represents a 12.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 1.60% of the company's stock.

T. Rowe Price Group Stock Performance

Shares of TROW stock opened at $108.97 on Wednesday. The stock has a market capitalization of $23.25 billion, a price-to-earnings ratio of 10.93, a PEG ratio of 3.69 and a beta of 1.46. T. Rowe Price Group, Inc. has a one year low of $85.22 and a one year high of $122.00. The company's 50-day simple moving average is $114.48 and its 200-day simple moving average is $103.61.

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 for the quarter, beating the consensus estimate of $2.52 by $0.05. T. Rowe Price Group had a return on equity of 20.91% and a net margin of 29.26%.The firm had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.89 billion. During the same period in the previous year, the company earned $2.24 earnings per share. T. Rowe Price Group's quarterly revenue was up 10.7% on a year-over-year basis. As a group, research 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 declared a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th will be given a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 4.8%. The ex-dividend date of this dividend is Tuesday, September 15th. T. Rowe Price Group's dividend 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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