UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 20.0% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,150,561 shares of the asset manager's stock after purchasing an additional 524,544 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 1.48% of T. Rowe Price Group worth $358,187,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also recently bought and sold shares of TROW. TD Private Client Wealth LLC increased its holdings in shares of 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 valued at $26,000 after acquiring an additional 123 shares during the last quarter. DV Equities LLC bought a new position in T. Rowe Price Group during the fourth quarter worth $32,000. Motiv8 Investments LLC acquired a new position in T. Rowe Price Group in the fourth quarter worth $35,000. Bank & Trust Co boosted its holdings in T. Rowe Price Group by 52.4% in the second 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 period. Finally, Keating Financial Advisory Services Inc. bought a new stake in T. Rowe Price Group during the second quarter valued at $39,000. 73.39% of the stock is owned by institutional investors.
Insider Activity at T. Rowe Price Group
In other T. Rowe Price Group news, VP Joshua B. Nelson sold 10,000 shares of the firm'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 sale, the vice president owned 71,328 shares in the company, valued at approximately $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 Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.60% of the company's stock.
T. Rowe Price Group Stock Performance
TROW stock opened at $111.24 on Monday. T. Rowe Price Group, Inc. has a 1 year low of $85.22 and a 1 year high of $122.00. The stock has a market capitalization of $23.73 billion, a price-to-earnings ratio of 11.16, a PEG ratio of 3.68 and a beta of 1.47. The stock's fifty day moving average is $114.35 and its two-hundred day moving average is $103.40.
T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last released its quarterly earnings results on Friday, July 31st. The asset manager reported $2.57 EPS for the quarter, topping the consensus estimate 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 business had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.89 billion. During the same quarter in the prior year, the firm earned $2.24 earnings per share. The company's quarterly revenue was up 10.7% on a year-over-year basis. As a group, analysts predict that T. Rowe Price Group, Inc. will post 10.15 EPS for the current fiscal year.
T. Rowe Price Group Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 15th will be given a $1.30 dividend. The ex-dividend date is Tuesday, September 15th. This represents a $5.20 annualized dividend and a yield of 4.7%. T. Rowe Price Group's dividend payout ratio is 52.16%.
Wall Street Analyst Weigh In
A number of research firms have recently issued reports on TROW. Barclays reduced their price target on shares of 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. Keefe, Bruyette & Woods reaffirmed a "market perform" rating and set a $115.00 price objective (down from $120.00) on shares of T. Rowe Price Group in a research report on Monday, August 3rd. Zacks Research lowered shares of T. Rowe Price Group from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 13th. BMO Capital Markets raised their target price on shares of T. Rowe Price Group from $110.00 to $120.00 and gave the stock a "market perform" rating in a report on Monday, August 3rd. Finally, The Goldman Sachs Group lifted their target price on 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. Ten investment analysts have rated the stock with a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat.com, T. Rowe Price Group has an average rating of "Reduce" and a consensus price target of $105.67.
View Our Latest Stock Analysis on T. Rowe Price Group
About T. Rowe Price Group
(
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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