CVA Family Office LLC Purchases 102 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

CVA Family Office LLC boosted its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 28.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 462 shares of the asset manager’s stock after acquiring an additional 102 shares during the period. CVA Family Office LLC’s holdings in T. Rowe Price Group were worth $53,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Lynx Investment Advisory bought a new stake in shares of T. Rowe Price Group during the second quarter valued at approximately $29,000. First United Bank & Trust bought a new stake in shares of T. Rowe Price Group during the fourth quarter valued at approximately $31,000. Park Place Capital Corp raised its position in shares of T. Rowe Price Group by 1,775.0% during the fourth quarter. Park Place Capital Corp now owns 300 shares of the asset manager’s stock valued at $32,000 after buying an additional 284 shares during the last quarter. Versant Capital Management Inc raised its position in shares of T. Rowe Price Group by 660.5% during the second quarter. Versant Capital Management Inc now owns 327 shares of the asset manager’s stock valued at $38,000 after buying an additional 284 shares during the last quarter. Finally, Signature Resources Capital Management LLC bought a new stake in shares of T. Rowe Price Group during the fourth quarter valued at approximately $39,000. Institutional investors own 73.39% of the company’s stock.

Insider Activity at T. Rowe Price Group

In other news, insider Jessica M. Hiebler sold 1,401 shares of T. Rowe Price Group stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $115.85, for a total transaction of $162,305.85. Following the completion of the sale, the insider now directly owns 14,198 shares in the company, valued at $1,644,838.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other T. Rowe Price Group news, VP Dorothy C. Sawyer sold 2,000 shares of T. Rowe Price Group stock in a transaction on 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 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 can be accessed through this link. Also, insider Jessica M. Hiebler sold 1,401 shares of T. Rowe Price Group stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $115.85, for a total transaction of $162,305.85. Following the completion of the transaction, the insider now directly owns 14,198 shares of the company’s stock, valued at approximately $1,644,838.30. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by corporate insiders.

T. Rowe Price Group Stock Performance

NASDAQ TROW traded down $1.06 on Wednesday, hitting $102.83. 1,072,791 shares of the stock were exchanged, compared to its average volume of 1,314,273. The stock has a fifty day moving average price of $115.34 and a two-hundred day moving average price of $114.19. The firm has a market capitalization of $22.89 billion, a P/E ratio of 12.28, a P/E/G ratio of 1.65 and a beta of 1.42. T. Rowe Price Group, Inc. has a 52-week low of $87.43 and a 52-week high of $122.27.

T. Rowe Price Group (NASDAQ:TROW) last issued its earnings results on Friday, July 26th. The asset manager reported $2.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.79 billion. During the same period in the prior year, the firm posted $2.02 earnings per share. The firm’s revenue for the quarter was up 7.6% compared to the same quarter last year. Sell-side analysts expect that T. Rowe Price Group, Inc. will post 8.98 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be issued a $1.24 dividend. This represents a $4.96 annualized dividend and a yield of 4.82%. The ex-dividend date of this dividend is Friday, September 13th. T. Rowe Price Group’s dividend payout ratio is currently 58.91%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on TROW. JPMorgan Chase & Co. lifted their price objective on shares of T. Rowe Price Group from $102.00 to $107.00 and gave the company an “underweight” rating in a research report on Tuesday, July 23rd. Morgan Stanley boosted their price target on shares of T. Rowe Price Group from $114.00 to $125.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 17th. StockNews.com cut shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of T. Rowe Price Group from $122.00 to $112.00 and set a “hold” rating on the stock in a research report on Monday, July 29th. Finally, Evercore ISI reduced their price target on shares of T. Rowe Price Group from $110.00 to $107.00 and set an “in-line” rating on the stock in a research report on Tuesday, April 30th. Three investment analysts have rated the stock with a sell rating and seven have given a hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $114.56.

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.