Vest Financial LLC Has $59.48 Million Stock Holdings in T. Rowe Price Group, Inc. $TROW

Key Points

• Vest Financial LLC has increased its holdings in T. Rowe Price Group, Inc. by 31.1%, now owning approximately 616,351 shares valued at $59.48 million.
• Analysts have varied price targets for T. Rowe Price Group, with a consensus average target of $106.15 and ratings ranging from "Buy" to "Sell."
• The stock has experienced a 52-week trading range of $77.85 to $125.81, with a recent market capitalization of $22.29 billion.

Vest Financial LLC increased its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 31.1% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 616,351 shares of the asset manager's stock after purchasing an additional 146,382 shares during the period. Vest Financial LLC owned approximately 0.28% of T. Rowe Price Group worth $59,478,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of TROW. Invesco Ltd. increased its holdings in shares of T. Rowe Price Group by 43.2% during the first quarter. Invesco Ltd. now owns 3,433,684 shares of the asset manager's stock worth $315,453,000 after buying an additional 1,035,865 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of T. Rowe Price Group by 7.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 7,706,251 shares of the asset manager's stock worth $707,973,000 after buying an additional 519,075 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of T. Rowe Price Group by 0.9% during the first quarter. Vanguard Group Inc. now owns 26,286,393 shares of the asset manager's stock worth $2,414,931,000 after buying an additional 222,556 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of T. Rowe Price Group by 505.5% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 172,709 shares of the asset manager's stock worth $15,867,000 after buying an additional 144,187 shares in the last quarter. Finally, American Century Companies Inc. increased its holdings in shares of T. Rowe Price Group by 4.9% during the first quarter. American Century Companies Inc. now owns 2,955,703 shares of the asset manager's stock worth $271,541,000 after buying an additional 138,515 shares in the last quarter. Institutional investors and hedge funds own 73.39% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on TROW shares. Jefferies Financial Group raised their price objective on shares of T. Rowe Price Group from $104.00 to $106.00 and gave the stock a "hold" rating in a report on Tuesday, October 7th. Wells Fargo & Company raised their price objective on shares of T. Rowe Price Group from $98.00 to $108.00 and gave the stock an "equal weight" rating in a report on Friday, July 11th. Deutsche Bank Aktiengesellschaft increased their price target on shares of T. Rowe Price Group from $109.00 to $114.00 and gave the company a "hold" rating in a research note on Thursday. Zacks Research cut shares of T. Rowe Price Group from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 8th. Finally, Bank of America increased their price target on shares of T. Rowe Price Group from $91.00 to $97.00 and gave the company an "underperform" rating in a research note on Thursday, October 2nd. One research analyst has rated the stock with a Buy rating, eleven have given a Hold rating and four have given a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Reduce" and an average price target of $106.15.

Insider Transactions at T. Rowe Price Group

In other T. Rowe Price Group news, Director Robert F. Maclellan sold 3,090 shares of the firm'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 value of $324,480.90. Following 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.60% of the company's stock.

T. Rowe Price Group Stock Performance

Shares of TROW stock opened at $101.43 on Monday. T. Rowe Price Group, Inc. has a 52-week low of $77.85 and a 52-week high of $125.81. The stock has a market cap of $22.29 billion, a PE ratio of 11.33, a PEG ratio of 6.51 and a beta of 1.50. The firm's 50 day moving average price is $105.82 and its two-hundred day moving average price is $98.49.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last announced its quarterly earnings data 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. T. Rowe Price Group had a net margin of 28.72% and a return on equity of 19.77%. The firm had revenue of $1.72 billion for the quarter, compared to analysts' expectations of $1.72 billion. During the same period last year, the firm earned $2.26 earnings per share. The business's revenue for the quarter was down .6% on a year-over-year basis. As a group, sell-side analysts predict that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Monday, September 15th were paid a $1.27 dividend. The ex-dividend date of this dividend was Monday, September 15th. This represents a $5.08 dividend on an annualized basis and a yield of 5.0%. T. Rowe Price Group's dividend payout ratio (DPR) is presently 56.76%.

T. Rowe Price Group Company 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.

Want to see what other hedge funds are holding TROW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.