T. Rowe Price Group, Inc. $TROW Shares Purchased by Vanguard Personalized Indexing Management LLC

Key Points

• Vanguard Personalized Indexing Management LLC increased its stake in T. Rowe Price Group by 39.2%, owning 50,370 shares worth approximately $4.86 million after purchasing an additional 14,182 shares in the 2nd quarter.
• T. Rowe Price Group reported earnings of $2.24 per share for the last quarter, exceeding analysts' expectations, with revenues slightly declining by 0.6% year-over-year.
• The company declared a quarterly dividend of $1.27 per share, representing an annualized yield of 4.8%, with a dividend payout ratio of 56.76%.

Vanguard Personalized Indexing Management LLC raised its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 39.2% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 50,370 shares of the asset manager's stock after buying an additional 14,182 shares during the quarter. Vanguard Personalized Indexing Management LLC's holdings in T. Rowe Price Group were worth $4,861,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in TROW. GAMMA Investing LLC raised its position in shares of T. Rowe Price Group by 5.1% during the 1st quarter. GAMMA Investing LLC now owns 3,627 shares of the asset manager's stock worth $333,000 after purchasing an additional 176 shares during the period. CX Institutional acquired a new stake in shares of T. Rowe Price Group during the 1st quarter worth approximately $57,000. Exchange Traded Concepts LLC raised its position in shares of T. Rowe Price Group by 27.9% during the 1st quarter. Exchange Traded Concepts LLC now owns 971 shares of the asset manager's stock worth $89,000 after purchasing an additional 212 shares during the period. Bank Pictet & Cie Europe AG acquired a new stake in shares of T. Rowe Price Group during the 1st quarter worth approximately $226,000. Finally, Brown Miller Wealth Management LLC acquired a new stake in shares of T. Rowe Price Group during the 1st quarter worth approximately $289,000. 73.39% of the stock is currently owned by institutional investors and hedge funds.

T. Rowe Price Group Stock Performance

Shares of NASDAQ TROW opened at $105.36 on Tuesday. The stock has a fifty day moving average price of $105.81 and a two-hundred day moving average price of $98.58. The firm has a market cap of $23.15 billion, a P/E ratio of 11.77, a PEG ratio of 6.51 and a beta of 1.50. 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 issued its quarterly earnings results on Friday, August 1st. The asset manager reported $2.24 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.15 by $0.09. The firm had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.72 billion. T. Rowe Price Group had a return on equity of 19.77% and a net margin of 28.72%.The firm's quarterly revenue was down .6% on a year-over-year basis. During the same period last year, the company posted $2.26 EPS. On average, research analysts predict 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 company also recently declared a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Monday, September 15th were paid a dividend of $1.27 per share. This represents a $5.08 dividend on an annualized basis and a yield of 4.8%. The ex-dividend date of this dividend was Monday, September 15th. T. Rowe Price Group's dividend payout ratio (DPR) is presently 56.76%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on TROW shares. Bank of America increased their price target on T. Rowe Price Group from $91.00 to $97.00 and gave the stock an "underperform" rating in a research report on Thursday, October 2nd. Morgan Stanley increased their price target on T. Rowe Price Group from $116.00 to $125.00 and gave the stock a "positive" rating in a research report on Monday, October 6th. Evercore ISI increased their price objective on T. Rowe Price Group from $115.00 to $118.00 and gave the stock an "in-line" rating in a report on Thursday, October 9th. TD Cowen lifted their target price on T. Rowe Price Group from $103.00 to $108.00 and gave the company a "hold" rating in a research note on Wednesday, October 8th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on T. Rowe Price Group from $109.00 to $114.00 and gave the stock a "hold" rating in a research report on Thursday, October 9th. One equities research analyst has rated the stock with a Buy rating, eleven have issued a Hold rating and four have issued a Sell rating to the company's stock. According to MarketBeat.com, T. Rowe Price Group currently has an average rating of "Reduce" and an average price target of $106.38.

Insider Transactions at T. Rowe Price Group

In other T. Rowe Price Group news, Director Robert F. Maclellan sold 3,090 shares of the stock in a transaction on 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 directly owned 47,335 shares of the company's stock, valued at approximately $4,970,648.35. This trade represents a 6.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.60% of the company's stock.

About T. Rowe Price Group

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.

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