L. Roy Papp & Associates LLP increased its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 4.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 171,469 shares of the asset manager's stock after buying an additional 8,003 shares during the period. T. Rowe Price Group accounts for 2.4% of L. Roy Papp & Associates LLP's holdings, making the stock its 15th biggest position. L. Roy Papp & Associates LLP owned about 0.08% of T. Rowe Price Group worth $19,772,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Nomura Asset Management Co. Ltd. increased its position in shares of T. Rowe Price Group by 15.8% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 344,889 shares of the asset manager's stock valued at $37,141,000 after buying an additional 47,043 shares in the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in T. Rowe Price Group in the 1st quarter valued at $1,008,000. Nebula Research & Development LLC purchased a new stake in T. Rowe Price Group in the 4th quarter worth $807,000. Fisher Asset Management LLC raised its position in T. Rowe Price Group by 6.6% during the fourth quarter. Fisher Asset Management LLC now owns 1,751,405 shares of the asset manager's stock worth $188,609,000 after acquiring an additional 109,053 shares during the period. Finally, Envestnet Portfolio Solutions Inc. lifted its holdings in T. Rowe Price Group by 52.4% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 65,534 shares of the asset manager's stock valued at $7,990,000 after purchasing an additional 22,533 shares in the last quarter. Institutional investors and hedge funds own 73.39% of the company's stock.
Insider Activity at T. Rowe Price Group
In related news, insider Jessica M. Hiebler sold 1,401 shares of the stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $115.85, for a total transaction of $162,305.85. Following the transaction, the insider now owns 14,198 shares of the company's stock, valued at approximately $1,644,838.30. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 1,401 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the insider now owns 14,198 shares of the company's stock, valued at approximately $1,644,838.30. The sale 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 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 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. 2.00% of the stock is owned by insiders.
Wall Street Analysts Forecast Growth
A number of analysts have recently commented on the stock. 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 for the company in a research report on Tuesday, April 30th. TD Cowen reduced their target price on T. Rowe Price Group from $123.00 to $118.00 and set a "hold" rating for the company in a report on Monday, July 29th. JPMorgan Chase & Co. lifted their price target on T. Rowe Price Group from $102.00 to $107.00 and gave the stock an "underweight" rating in a research note on Tuesday, July 23rd. Deutsche Bank Aktiengesellschaft increased their price objective 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. Finally, Keefe, Bruyette & Woods reaffirmed a "market perform" rating and set a $120.00 target price (down previously from $121.00) on shares of T. Rowe Price Group in a research note on Monday, July 29th. Three equities research analysts have rated the stock with a sell rating and seven have issued a hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $114.67.
Check Out Our Latest Report on T. Rowe Price Group
T. Rowe Price Group Stock Up 0.4 %
NASDAQ:TROW traded up $0.39 on Friday, hitting $109.62. The stock had a trading volume of 732,282 shares, compared to its average volume of 1,275,534. The company has a fifty day moving average price of $112.99 and a two-hundred day moving average price of $113.86. T. Rowe Price Group, Inc. has a 1-year low of $87.43 and a 1-year high of $122.27. The stock has a market cap of $24.48 billion, a price-to-earnings ratio of 13.02, a PEG ratio of 1.69 and a beta of 1.42.
T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last released its quarterly earnings data on Friday, July 26th. The asset manager reported $2.26 EPS for the quarter, missing analysts' consensus estimates of $2.27 by ($0.01). The business 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 company's revenue was up 7.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.02 earnings per share. As a group, analysts anticipate that T. Rowe Price Group, Inc. will post 8.98 earnings per share for the current year.
T. Rowe Price Group Announces Dividend
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 given a dividend of $1.24 per share. The ex-dividend date is Friday, September 13th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 4.52%. T. Rowe Price Group's payout ratio is currently 58.91%.
T. Rowe Price Group Company Profile
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Free Report)
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.
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