Vantage Investment Partners LLC Acquires 2,635 Shares of T. Rowe Price Group, Inc. $TROW

Key Points

• Vantage Investment Partners LLC increased its holdings in T. Rowe Price Group by 2.1%, purchasing an additional 2,635 shares to total approximately 127,189 shares, valued at around $12.27 million.
• T. Rowe Price Group recently reported quarterly earnings of $2.24 per share, exceeding analysts' expectations, and announced a quarterly dividend of $1.27, representing an annual yield of 4.9%.
• Several brokerages have adjusted their price targets for T. Rowe Price Group, with Barclays setting a new target at $95.00 while Wells Fargo rated it at $108.00, amidst varied analyst ratings.

Vantage Investment Partners LLC grew its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 2.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 127,189 shares of the asset manager's stock after buying an additional 2,635 shares during the quarter. Vantage Investment Partners LLC owned approximately 0.06% of T. Rowe Price Group worth $12,274,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Zions Bancorporation National Association UT acquired a new position in T. Rowe Price Group during the first quarter valued at approximately $27,000. Hexagon Capital Partners LLC raised its stake in shares of 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 in the last quarter. Smallwood Wealth Investment Management LLC acquired a new stake in shares of T. Rowe Price Group in the 1st quarter valued at approximately $39,000. Cromwell Holdings LLC grew its stake in shares of T. Rowe Price Group by 3,483.3% in the second quarter. Cromwell Holdings LLC now owns 430 shares of the asset manager's stock valued at $41,000 after buying an additional 418 shares in the last quarter. Finally, Chilton Capital Management LLC bought a new position in shares of T. Rowe Price Group in the first quarter valued at $41,000. Institutional investors own 73.39% of the company's stock.

Insider Buying and Selling at T. Rowe Price Group

In other T. Rowe Price Group news, Director Robert F. Maclellan sold 3,090 shares of the business's stock in a transaction 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 sale, the director owned 47,335 shares of the company's stock, valued at approximately $4,970,648.35. The trade was a 6.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 1.60% of the company's stock.

T. Rowe Price Group Stock Up 1.5%

TROW opened at $103.28 on Monday. The stock has a market capitalization of $22.69 billion, a price-to-earnings ratio of 11.54, a P/E/G ratio of 6.68 and a beta of 1.50. T. Rowe Price Group, Inc. has a twelve month low of $77.85 and a twelve month high of $125.81. The company has a 50-day simple moving average of $105.71 and a 200 day simple moving average of $98.13.

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 for the quarter, topping analysts' consensus estimates of $2.15 by $0.09. The company had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.72 billion. T. Rowe Price Group had a net margin of 28.72% and a return on equity of 19.77%. The firm's quarterly revenue was down .6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.26 EPS. Sell-side analysts anticipate that T. Rowe Price Group, Inc. will post 9.29 EPS for the current fiscal year.

T. Rowe Price Group Announces Dividend

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

Analysts Set New Price Targets

A number of brokerages have commented on TROW. Barclays reiterated an "underweight" rating and issued a $95.00 price target (up previously from $91.00) on shares of T. Rowe Price Group in a research note on Monday, August 4th. Weiss Ratings reiterated a "hold (c)" rating on shares of T. Rowe Price Group in a research note on Saturday, September 27th. Wells Fargo & Company boosted their price target on T. Rowe Price Group from $98.00 to $108.00 and gave the stock an "equal weight" rating in a research report on Friday, July 11th. Morgan Stanley upped their price objective on T. Rowe Price Group from $112.00 to $116.00 and gave the company an "equal weight" rating in a research note on Monday, August 4th. Finally, BMO Capital Markets assumed coverage on T. Rowe Price Group in a research note on Friday. They set a "market perform" rating and a $108.00 target price for the company. One research analyst has rated the stock with a Buy rating, ten have issued a Hold rating and four have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Reduce" and an average price target of $104.08.

T. Rowe Price Group 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.

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