254 Shares in T. Rowe Price Group, Inc. (NASDAQ:TROW) Acquired by Lynx Investment Advisory

Lynx Investment Advisory bought a new position in T. Rowe Price Group, Inc. (NASDAQ:TROW) during the 2nd quarter, Holdings Channel.com reports. The institutional investor bought 254 shares of the asset manager’s stock, valued at approximately $29,000.

Several other hedge funds have also modified their holdings of TROW. Confluence Investment Management LLC acquired a new position in T. Rowe Price Group during the first quarter valued at approximately $130,386,000. International Assets Investment Management LLC raised its stake in shares of T. Rowe Price Group by 8,968.6% during the fourth quarter. International Assets Investment Management LLC now owns 902,146 shares of the asset manager’s stock valued at $97,152,000 after purchasing an additional 892,198 shares during the period. UBS Group AG raised its stake in shares of T. Rowe Price Group by 473.3% during the fourth quarter. UBS Group AG now owns 975,226 shares of the asset manager’s stock valued at $105,022,000 after purchasing an additional 805,106 shares during the period. Norges Bank purchased a new stake in shares of T. Rowe Price Group during the fourth quarter valued at approximately $80,831,000. Finally, Hsbc Holdings PLC raised its stake in shares of T. Rowe Price Group by 66.8% during the fourth quarter. Hsbc Holdings PLC now owns 765,080 shares of the asset manager’s stock valued at $82,434,000 after purchasing an additional 306,524 shares during the period. 73.39% of the stock is owned by institutional investors and hedge funds.

T. Rowe Price Group Stock Performance

Shares of TROW traded up $0.62 during midday trading on Wednesday, hitting $104.51. 377,505 shares of the stock traded hands, compared to its average volume of 1,309,669. T. Rowe Price Group, Inc. has a 1-year low of $87.43 and a 1-year high of $122.27. The firm has a market capitalization of $23.26 billion, a PE ratio of 12.34, a price-to-earnings-growth ratio of 1.65 and a beta of 1.42. The business’s 50 day moving average price is $115.34 and its two-hundred day moving average price is $114.19.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings results on Friday, July 26th. The asset manager reported $2.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.27 by ($0.01). T. Rowe Price Group had a net margin of 28.66% and a return on equity of 19.90%. The firm had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.79 billion. During the same period last year, the firm posted $2.02 EPS. The business’s revenue was up 7.6% compared to the same quarter last year. As a group, equities research analysts forecast that T. Rowe Price Group, Inc. will post 8.98 EPS for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be issued a $1.24 dividend. This represents a $4.96 annualized dividend and a yield of 4.75%. The ex-dividend date is Friday, September 13th. T. Rowe Price Group’s payout ratio is currently 58.91%.

Wall Street Analysts Forecast Growth

TROW has been the topic of a number of analyst reports. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $120.00 price objective (down previously from $121.00) on shares of T. Rowe Price Group in a research note on Monday, July 29th. Evercore ISI dropped their price target on shares of T. Rowe Price Group from $110.00 to $107.00 and set an “in-line” rating for the company in a research note on Tuesday, April 30th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of T. Rowe Price Group from $122.00 to $112.00 and set a “hold” rating for the company in a research note on Monday, July 29th. UBS Group boosted their target price on shares of T. Rowe Price Group from $100.00 to $109.00 and gave the company a “sell” rating in a research note on Friday, April 12th. Finally, Morgan Stanley boosted their target price on shares of T. Rowe Price Group from $114.00 to $125.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 17th. Three equities research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the stock. According to MarketBeat.com, T. Rowe Price Group presently has a consensus rating of “Hold” and a consensus price target of $114.56.

Insider Buying and Selling

In related news, VP Dorothy C. Sawyer sold 2,000 shares of the company’s stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $117.00, for a total value of $234,000.00. Following the completion of the sale, the vice president now owns 34,710 shares of the company’s stock, valued at $4,061,070. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other T. Rowe Price Group news, VP Dorothy C. Sawyer sold 2,000 shares of the company’s stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $117.00, for a total value of $234,000.00. Following the transaction, the vice president now owns 34,710 shares of the company’s stock, valued at $4,061,070. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Jessica M. Hiebler sold 1,401 shares of the company’s stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $115.85, for a total value of $162,305.85. Following the sale, the insider now directly owns 14,198 shares of the company’s stock, valued at $1,644,838.30. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

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.