Schaper Benz & Wise Investment Counsel Inc. WI Acquires 2,530 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Schaper Benz & Wise Investment Counsel Inc. WI raised its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 1.7% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 148,984 shares of the asset manager’s stock after acquiring an additional 2,530 shares during the quarter. Schaper Benz & Wise Investment Counsel Inc. WI’s holdings in T. Rowe Price Group were worth $16,229,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Victory Capital Management Inc. grew its holdings in shares of T. Rowe Price Group by 3.8% in the second quarter. Victory Capital Management Inc. now owns 3,436,019 shares of the asset manager’s stock worth $396,207,000 after purchasing an additional 124,686 shares during the last quarter. American Century Companies Inc. grew its stake in T. Rowe Price Group by 4.5% in the 2nd quarter. American Century Companies Inc. now owns 2,512,793 shares of the asset manager’s stock worth $289,750,000 after acquiring an additional 107,086 shares in the last quarter. ProShare Advisors LLC increased its position in shares of T. Rowe Price Group by 2.5% during the second quarter. ProShare Advisors LLC now owns 1,635,519 shares of the asset manager’s stock worth $188,592,000 after acquiring an additional 40,490 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of T. Rowe Price Group by 15.8% during the second quarter. Dimensional Fund Advisors LP now owns 1,611,307 shares of the asset manager’s stock valued at $185,810,000 after acquiring an additional 220,105 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in shares of T. Rowe Price Group by 0.7% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 654,139 shares of the asset manager’s stock valued at $75,429,000 after purchasing an additional 4,701 shares during the period. Hedge funds and other institutional investors own 73.39% of the company’s stock.

Insiders Place Their Bets

In related news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $102.83, for a total value of $1,230,772.27. Following the completion of the transaction, the vice president now directly owns 123,624 shares of the company’s stock, valued at $12,712,255.92. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the company’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $102.83, for a total value of $1,230,772.27. Following the transaction, the vice president now directly owns 123,624 shares of the company’s stock, valued at $12,712,255.92. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jessica M. Hiebler sold 484 shares of the firm’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $104.73, for a total value of $50,689.32. Following the completion of the transaction, the insider now owns 13,939 shares of the company’s stock, valued at $1,459,831.47. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

T. Rowe Price Group Stock Up 2.1 %

NASDAQ TROW opened at $115.63 on Friday. T. Rowe Price Group, Inc. has a 52 week low of $87.43 and a 52 week high of $122.27. The company has a 50 day moving average price of $107.54 and a 200 day moving average price of $112.01. The firm has a market cap of $25.82 billion, a PE ratio of 13.73, a price-to-earnings-growth ratio of 1.84 and a beta of 1.41.

T. Rowe Price Group (NASDAQ:TROW) last released 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 return on equity of 19.90% and a net margin of 28.66%. The firm had revenue of $1.73 billion during 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. T. Rowe Price Group’s revenue for the quarter was up 7.6% compared to the same quarter last year. On average, equities research analysts anticipate that T. Rowe Price Group, Inc. will post 9.04 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were paid a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a yield of 4.29%. The ex-dividend date of this dividend was Friday, September 13th. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 58.91%.

Analyst Ratings Changes

Several research firms have commented on TROW. Keefe, Bruyette & Woods restated a “market perform” rating and set a $120.00 price objective (down from $121.00) on shares of T. Rowe Price Group in a report on Monday, July 29th. Deutsche Bank Aktiengesellschaft raised their price target on T. Rowe Price Group from $112.00 to $113.00 and gave the company a “hold” rating in a research note on Thursday, August 15th. Morgan Stanley upped their price objective on shares of T. Rowe Price Group from $125.00 to $127.00 and gave the stock an “equal weight” rating in a research note on Friday. Barclays raised their target price on shares of T. Rowe Price Group from $99.00 to $101.00 and gave the company an “underweight” rating in a research report on Monday, October 14th. Finally, JPMorgan Chase & Co. upped their price target on shares of T. Rowe Price Group from $102.00 to $107.00 and gave the stock an “underweight” rating in a research report on Tuesday, July 23rd. Four research analysts have rated the stock with a sell rating and eight have given a hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $113.00.

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.