Versor Investments LP Acquires Shares of 13,000 T. Rowe Price Group, Inc. (NASDAQ:TROW)

Versor Investments LP bought a new position in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 13,000 shares of the asset manager's stock, valued at approximately $1,499,000.

A number of other large investors have also modified their holdings of TROW. Confluence Investment Management LLC purchased a new position in T. Rowe Price Group in the 1st quarter worth approximately $130,386,000. UBS Group AG grew its holdings in T. Rowe Price Group by 473.3% during the 4th quarter. UBS Group AG now owns 975,226 shares of the asset manager's stock valued at $105,022,000 after purchasing an additional 805,106 shares in the last quarter. Norges Bank purchased a new stake in T. Rowe Price Group during the 4th quarter worth $80,831,000. Hsbc Holdings PLC increased its stake in T. Rowe Price Group by 66.8% during the 4th quarter. Hsbc Holdings PLC now owns 765,080 shares of the asset manager's stock worth $82,434,000 after buying an additional 306,524 shares during the period. Finally, Los Angeles Capital Management LLC lifted its holdings in T. Rowe Price Group by 492.3% in the 1st quarter. Los Angeles Capital Management LLC now owns 319,887 shares of the asset manager's stock worth $39,001,000 after buying an additional 265,881 shares in the last quarter. Institutional investors and hedge funds own 73.39% of the company's stock.

Insider Buying and Selling

In other news, insider Jessica M. Hiebler sold 1,401 shares of the business's 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 owns 14,198 shares of the company's stock, valued at $1,644,838.30. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, insider Jessica M. Hiebler sold 1,401 shares of T. Rowe Price Group stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $115.85, for a total transaction of $162,305.85. Following the sale, 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 SEC, which is accessible through this link. Also, VP Dorothy C. Sawyer sold 2,000 shares of the business's stock in a transaction that occurred 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 transaction, the vice president now owns 34,710 shares of the company's stock, valued at $4,061,070. The disclosure for this sale can be found here. 2.00% of the stock is owned by company insiders.

T. Rowe Price Group Stock Up 1.0 %

Shares of NASDAQ:TROW traded up $1.08 on Monday, reaching $106.04. 1,832,000 shares of the company's stock were exchanged, compared to its average volume of 1,020,586. T. Rowe Price Group, Inc. has a fifty-two week low of $87.43 and a fifty-two week high of $122.27. The business's 50-day moving average is $111.67 and its two-hundred day moving average is $113.90. The firm has a market capitalization of $23.60 billion, a price-to-earnings ratio of 12.59, a PEG ratio of 1.69 and a beta of 1.41.

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 earnings per share 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 business had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.79 billion. During the same quarter last year, the company earned $2.02 EPS. T. Rowe Price Group's revenue was up 7.6% compared to the same quarter last year. Analysts predict that T. Rowe Price Group, Inc. will post 9 earnings per share for the current fiscal 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 of this dividend is Friday, September 13th. This represents a $4.96 dividend on an annualized basis and a yield of 4.68%. T. Rowe Price Group's dividend payout ratio is currently 58.91%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on TROW shares. Keefe, Bruyette & Woods reaffirmed a "market perform" rating and set a $120.00 target price (down from $121.00) on shares of T. Rowe Price Group in a research report on Monday, July 29th. Deutsche Bank Aktiengesellschaft lifted their price objective on T. Rowe Price Group from $112.00 to $113.00 and gave the stock a "hold" rating in a report on Thursday, August 15th. StockNews.com cut T. Rowe Price Group from a "buy" rating to a "hold" rating in a research note on Monday, July 29th. TD Cowen decreased their price target 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. Finally, Barclays began coverage on shares of T. Rowe Price Group in a report on Tuesday, August 27th. They issued an "underweight" rating and a $99.00 price target on the stock. Four equities research analysts have rated the stock with a sell rating and seven have issued a hold rating to the stock. According to data from MarketBeat, T. Rowe Price Group presently has an average rating of "Hold" and a consensus target price of $113.10.

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.