Triton Financial Group Inc Purchases Shares of 8,147 T. Rowe Price Group, Inc. $TROW

Key Points

• Triton Financial Group Inc. acquired 8,147 shares of T. Rowe Price Group, Inc., valued at approximately $786,000, in the second quarter.
• As of now, institutional investors and hedge funds own 73.39% of T. Rowe Price Group's stock, highlighting significant institutional interest.
• The company recently declared a quarterly dividend of $1.27, which equates to an annualized dividend of $5.08 and a yield of 4.9%.

Triton Financial Group Inc acquired a new stake in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 8,147 shares of the asset manager's stock, valued at approximately $786,000.

Other hedge funds have also bought and sold shares of the company. GAMMA Investing LLC raised its stake in T. Rowe Price Group by 5.1% in the first quarter. GAMMA Investing LLC now owns 3,627 shares of the asset manager's stock valued at $333,000 after buying an additional 176 shares during the period. Exchange Traded Concepts LLC raised its stake in T. Rowe Price Group by 27.9% in the 1st quarter. Exchange Traded Concepts LLC now owns 971 shares of the asset manager's stock valued at $89,000 after acquiring an additional 212 shares during the period. State of Alaska Department of Revenue lifted its holdings in T. Rowe Price Group by 3.0% during the 1st quarter. State of Alaska Department of Revenue now owns 26,084 shares of the asset manager's stock valued at $2,396,000 after purchasing an additional 755 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its holdings in T. Rowe Price Group by 2.9% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 43,433 shares of the asset manager's stock valued at $3,990,000 after purchasing an additional 1,214 shares during the last quarter. Finally, Asset Management One Co. Ltd. boosted its position in T. Rowe Price Group by 8.5% during the first quarter. Asset Management One Co. Ltd. now owns 95,508 shares of the asset manager's stock worth $8,774,000 after purchasing an additional 7,455 shares during the period. 73.39% of the stock is currently owned by institutional investors and hedge funds.

T. Rowe Price Group Price Performance

Shares of NASDAQ TROW opened at $104.24 on Tuesday. The stock has a market capitalization of $22.90 billion, a PE ratio of 11.65, a P/E/G ratio of 5.69 and a beta of 1.50. T. Rowe Price Group, Inc. has a fifty-two week low of $77.85 and a fifty-two week high of $125.81. The business has a fifty day moving average price of $105.76 and a two-hundred day moving average price of $99.12.

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 EPS for the quarter, topping analysts' consensus estimates of $2.15 by $0.09. T. Rowe Price Group had a return on equity of 19.77% and a net margin of 28.72%.The company had revenue of $1.72 billion for the quarter, compared to analysts' expectations of $1.72 billion. During the same quarter last year, the business earned $2.26 earnings per share. T. Rowe Price Group's revenue was down .6% on a year-over-year basis. On average, equities analysts expect that T. Rowe Price Group, Inc. will post 9.29 EPS for the current year.

T. Rowe Price Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Monday, September 15th were paid a $1.27 dividend. This represents a $5.08 dividend on an annualized basis and a yield of 4.9%. The ex-dividend date of this dividend was Monday, September 15th. T. Rowe Price Group's dividend payout ratio (DPR) is 56.76%.

Insider Buying and Selling

In other T. Rowe Price Group news, Director Robert F. Maclellan sold 3,090 shares of the business's stock in a transaction that occurred on Monday, September 22nd. The shares were 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 in the company, valued at $4,970,648.35. The trade was a 6.13% 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 corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on TROW shares. Bank of America raised their target price on shares of T. Rowe Price Group from $91.00 to $97.00 and gave the stock an "underperform" rating in a research note on Thursday, October 2nd. Keefe, Bruyette & Woods boosted their price objective on T. Rowe Price Group from $112.00 to $115.00 and gave the stock a "hold" rating in a report on Monday, October 13th. Jefferies Financial Group increased their target price on T. Rowe Price Group from $104.00 to $106.00 and gave the stock a "hold" rating in a research note on Tuesday, October 7th. JPMorgan Chase & Co. lifted their price target on T. Rowe Price Group from $102.00 to $109.00 and gave the stock an "underweight" rating in a report on Wednesday, October 15th. Finally, Wells Fargo & Company upped their price objective on T. Rowe Price Group from $98.00 to $108.00 and gave the company an "equal weight" rating in a report on Friday, July 11th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, ten have given a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat.com, T. Rowe Price Group presently has an average rating of "Reduce" and a consensus target price of $106.92.

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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