T. Rowe Price Group, Inc. (NASDAQ:TROW) Stock Position Boosted by OV Management LLC

OV Management LLC grew its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 1.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,070 shares of the asset manager’s stock after buying an additional 170 shares during the quarter. OV Management LLC’s holdings in T. Rowe Price Group were worth $1,392,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the stock. Lynx Investment Advisory bought a new position in T. Rowe Price Group during the 2nd quarter valued at $29,000. Family Firm Inc. acquired a new stake in shares of T. Rowe Price Group in the second quarter valued at $36,000. Versant Capital Management Inc boosted its stake in 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 in the last quarter. EverSource Wealth Advisors LLC grew its holdings in T. Rowe Price Group by 93.6% during the first quarter. EverSource Wealth Advisors LLC now owns 331 shares of the asset manager’s stock worth $40,000 after acquiring an additional 160 shares during the period. Finally, Riverview Trust Co raised its position in T. Rowe Price Group by 136.4% in the second quarter. Riverview Trust Co now owns 357 shares of the asset manager’s stock worth $41,000 after acquiring an additional 206 shares in the last quarter. 73.39% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. TD Cowen reduced their price objective on shares of T. Rowe Price Group from $123.00 to $118.00 and set a “hold” rating for the company in a research report on Monday, July 29th. Evercore ISI decreased their price target on shares of T. Rowe Price Group from $115.00 to $108.00 and set an “in-line” rating on the stock in a research report on Thursday, September 5th. Wells Fargo & Company began coverage on T. Rowe Price Group in a research report on Thursday. They set an “equal weight” rating and a $109.00 price objective for the company. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $120.00 target price (down from $121.00) on shares of T. Rowe Price Group in a report on Monday, July 29th. Finally, Barclays began coverage on T. Rowe Price Group in a report on Tuesday, August 27th. They set an “underweight” rating and a $99.00 target price for the company. Three investment analysts have rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $113.30.

T. Rowe Price Group Price Performance

Shares of TROW opened at $104.56 on Friday. The business’s 50-day moving average is $109.60 and its 200-day moving average is $113.48. The company has a market capitalization of $23.35 billion, a price-to-earnings ratio of 12.42, a P/E/G ratio of 1.66 and a beta of 1.41. T. Rowe Price Group, Inc. has a fifty-two week low of $87.43 and a fifty-two week high of $122.27.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings data on Friday, July 26th. The asset manager reported $2.26 earnings per share for the quarter, missing the consensus estimate of $2.27 by ($0.01). The company had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.79 billion. T. Rowe Price Group had a net margin of 28.66% and a return on equity of 19.90%. The firm’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.02 EPS. Equities research analysts expect that T. Rowe Price Group, Inc. will post 9 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be given a dividend of $1.24 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $4.96 dividend on an annualized basis and a yield of 4.74%. T. Rowe Price Group’s payout ratio is 58.91%.

Insider Buying and Selling at T. Rowe Price Group

In related news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the firm’s stock in a transaction that occurred 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 approximately $12,712,255.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other 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 sale, the vice president now owns 34,710 shares of the company’s stock, valued at approximately $4,061,070. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of T. Rowe Price Group stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $102.83, for a total transaction 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. The disclosure for this sale can be found here. Insiders have sold 15,370 shares of company stock worth $1,627,078 over the last 90 days. 2.00% of the stock is currently owned by corporate insiders.

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.