International Assets Investment Management LLC Boosts Stake in T. Rowe Price Group, Inc. (NASDAQ:TROW)

International Assets Investment Management LLC boosted its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 33.7% during the 2nd quarter, Holdings Channel.com reports. The firm owned 13,194 shares of the asset manager’s stock after buying an additional 3,327 shares during the quarter. International Assets Investment Management LLC’s holdings in T. Rowe Price Group were worth $1,521,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of the stock. Atria Wealth Solutions Inc. increased its holdings in T. Rowe Price Group by 89.6% in the 4th quarter. Atria Wealth Solutions Inc. now owns 8,714 shares of the asset manager’s stock worth $939,000 after acquiring an additional 4,119 shares in the last quarter. Choreo LLC boosted its position in shares of T. Rowe Price Group by 65.0% in the fourth quarter. Choreo LLC now owns 6,677 shares of the asset manager’s stock worth $719,000 after purchasing an additional 2,631 shares during the period. Van ECK Associates Corp raised its position in shares of T. Rowe Price Group by 2.9% during the 4th quarter. Van ECK Associates Corp now owns 36,261 shares of the asset manager’s stock valued at $3,905,000 after purchasing an additional 1,025 shares during the period. Penobscot Investment Management Company Inc. lifted its stake in shares of T. Rowe Price Group by 6.7% during the 4th quarter. Penobscot Investment Management Company Inc. now owns 4,909 shares of the asset manager’s stock valued at $529,000 after buying an additional 309 shares in the last quarter. Finally, Certuity LLC bought a new position in T. Rowe Price Group in the 4th quarter worth $228,000. Institutional investors own 73.39% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on TROW shares. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $120.00 price target (down from $121.00) on shares of T. Rowe Price Group in a report on Monday, July 29th. Barclays initiated coverage on shares of T. Rowe Price Group in a research report on Tuesday. They set an “underweight” rating and a $99.00 target price for the company. Deutsche Bank Aktiengesellschaft lifted their price target on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the company a “hold” rating in a report on Thursday, August 15th. JPMorgan Chase & Co. increased 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 report on Tuesday, July 23rd. Finally, StockNews.com lowered T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Four investment analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $113.10.

Insiders Place Their Bets

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

T. Rowe Price Group Price Performance

NASDAQ:TROW opened at $106.04 on Friday. The company’s 50-day moving average is $112.17 and its two-hundred day moving average is $113.83. 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 $23.68 billion, a price-to-earnings ratio of 12.59, a PEG ratio of 1.74 and a beta of 1.42.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings data 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). The business had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.79 billion. T. Rowe Price Group had a return on equity of 19.90% and a net margin of 28.66%. The firm’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same period in the previous year, the business posted $2.02 earnings per share. As a group, equities analysts anticipate that T. Rowe Price Group, Inc. will post 9 earnings per share for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be given a $1.24 dividend. This represents a $4.96 annualized dividend and a yield of 4.68%. The ex-dividend date of this dividend is Friday, September 13th. T. Rowe Price Group’s dividend payout ratio is currently 58.91%.

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.