Virtu Financial LLC Has $1.57 Million Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Key Points

• Virtu Financial LLC increased its stake in T. Rowe Price Group by 215.4% during the first quarter, acquiring an additional 11,700 shares, bringing its total holdings to 17,131 shares valued at approximately $1.57 million.
• VP Dorothy C. Sawyer sold 2,000 shares of T. Rowe Price Group, reflecting a 4.27% decrease in her ownership, with the transaction amounting to $190,860.
• T. Rowe Price Group's stock price saw a recent uptick of 1.0%, with a current trading price around $105.06 and a market capitalization of $23.08 billion.

Virtu Financial LLC raised its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 215.4% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,131 shares of the asset manager's stock after purchasing an additional 11,700 shares during the quarter. Virtu Financial LLC's holdings in T. Rowe Price Group were worth $1,574,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Envestnet Asset Management Inc. boosted its stake in shares of T. Rowe Price Group by 8.4% during the 4th quarter. Envestnet Asset Management Inc. now owns 147,010 shares of the asset manager's stock worth $16,625,000 after acquiring an additional 11,409 shares during the period. Federated Hermes Inc. boosted its position in T. Rowe Price Group by 139.0% during the fourth quarter. Federated Hermes Inc. now owns 1,979 shares of the asset manager's stock worth $224,000 after purchasing an additional 1,151 shares during the period. FIL Ltd boosted its position in T. Rowe Price Group by 89.4% during the fourth quarter. FIL Ltd now owns 6,550 shares of the asset manager's stock worth $741,000 after purchasing an additional 3,092 shares during the period. Martingale Asset Management L P increased its holdings in shares of T. Rowe Price Group by 13.7% in the fourth quarter. Martingale Asset Management L P now owns 4,659 shares of the asset manager's stock valued at $527,000 after purchasing an additional 563 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of T. Rowe Price Group in the fourth quarter valued at about $32,332,000. Institutional investors own 73.39% of the company's stock.

T. Rowe Price Group Trading Down 0.8%

T. Rowe Price Group stock traded down $0.89 during trading hours on Thursday, reaching $109.06. 940,729 shares of the stock were exchanged, compared to its average volume of 1,815,481. The stock has a 50 day moving average of $100.36 and a two-hundred day moving average of $98.02. The company has a market cap of $23.96 billion, a P/E ratio of 12.19, a price-to-earnings-growth ratio of 2.93 and a beta of 1.47. T. Rowe Price Group, Inc. has a twelve month low of $77.85 and a twelve month high of $125.81.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last posted its quarterly earnings results on Friday, August 1st. The asset manager reported $2.24 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.72 billion. During the same quarter last year, the business posted $2.26 EPS. The firm's revenue for the quarter was down .6% on a year-over-year basis. On average, analysts expect 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 business also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Monday, September 15th will be issued a dividend of $1.27 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $5.08 annualized dividend and a dividend yield of 4.7%. T. Rowe Price Group's payout ratio is 56.76%.

Insider Activity

In other T. Rowe Price Group news, VP Dorothy C. Sawyer sold 2,000 shares of the firm's stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $95.43, for a total value of $190,860.00. Following the sale, the vice president owned 44,789 shares in the company, valued at $4,274,214.27. This trade represents a 4.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 2.00% of the company's stock.

Wall Street Analysts Forecast Growth

TROW has been the topic of a number of research reports. Wells Fargo & Company upped their price target on shares of T. Rowe Price Group from $98.00 to $108.00 and gave the company an "equal weight" rating in a research note on Friday, July 11th. Keefe, Bruyette & Woods upped their target price on T. Rowe Price Group from $110.00 to $112.00 and gave the company a "market perform" rating in a research report on Monday, August 4th. Morgan Stanley lifted their price target on T. Rowe Price Group from $112.00 to $116.00 and gave the stock an "equal weight" rating in a report on Monday, August 4th. JPMorgan Chase & Co. upped their price objective on T. Rowe Price Group from $98.00 to $102.00 and gave the company an "underweight" rating in a report on Monday, August 4th. Finally, Evercore ISI lifted their target price on T. Rowe Price Group from $106.00 to $110.00 and gave the stock an "in-line" rating in a report on Monday, August 4th. Four research analysts have rated the stock with a sell rating and nine have assigned a hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $101.09.

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.