Vest Financial LLC Increases Stake in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Vest Financial LLC boosted its position in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 18.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 391,623 shares of the asset manager's stock after buying an additional 61,509 shares during the period. T. Rowe Price Group makes up approximately 1.1% of Vest Financial LLC's investment portfolio, making the stock its 23rd largest holding. Vest Financial LLC owned 0.18% of T. Rowe Price Group worth $45,158,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of TROW. Victory Capital Management Inc. boosted its position in T. Rowe Price Group by 3.8% in the 2nd 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 in the last quarter. American Century Companies Inc. boosted its position 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 purchasing an additional 107,086 shares in the last quarter. Fisher Asset Management LLC boosted its position in T. Rowe Price Group by 6.6% in the 4th quarter. Fisher Asset Management LLC now owns 1,751,405 shares of the asset manager's stock worth $188,609,000 after purchasing an additional 109,053 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of T. Rowe Price Group by 21.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,352,683 shares of the asset manager's stock worth $145,685,000 after buying an additional 236,697 shares during the period. Finally, First Trust Advisors LP raised its stake in shares of T. Rowe Price Group by 1.3% during the 4th quarter. First Trust Advisors LP now owns 1,173,858 shares of the asset manager's stock worth $126,413,000 after buying an additional 15,504 shares during the period. Hedge funds and other institutional investors own 73.39% of the company's stock.

Insider Transactions at T. Rowe Price Group

In other news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the stock in a transaction on Friday, September 6th. The stock was sold at an average price of $102.83, for a total transaction of $1,230,772.27. Following the completion of the transaction, the vice president now directly owns 123,624 shares in the company, valued at approximately $12,712,255.92. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, 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 transaction of $234,000.00. Following the completion of the transaction, the vice president now directly owns 34,710 shares in the company, valued at approximately $4,061,070. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the firm's stock in a transaction dated 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 transaction, the vice president now owns 123,624 shares of the company's stock, valued at $12,712,255.92. The disclosure for this sale can be found here. In the last ninety days, insiders sold 15,370 shares of company stock worth $1,627,078. 2.00% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on TROW. Wells Fargo & Company began coverage on T. Rowe Price Group in a research note on Thursday. They set an "equal weight" rating and a $109.00 target price for the company. StockNews.com downgraded T. Rowe Price Group from a "buy" rating to a "hold" rating in a research note on Monday, July 29th. Keefe, Bruyette & Woods reissued a "market perform" rating and issued a $120.00 price objective (down from $121.00) on shares of T. Rowe Price Group in a research note on Monday, July 29th. Barclays started coverage on T. Rowe Price Group in a research note on Tuesday, August 27th. They issued an "underweight" rating and a $99.00 price objective for the company. Finally, Evercore ISI reduced their price objective on T. Rowe Price Group from $115.00 to $108.00 and set an "in-line" rating for the company in a research note on Thursday, September 5th. Three equities research 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, the stock currently has a consensus rating of "Hold" and an average target price of $113.30.

T. Rowe Price Group Stock Up 0.7 %

Shares of TROW traded up $0.76 during midday trading on Thursday, reaching $104.87. The company had a trading volume of 1,370,755 shares, compared to its average volume of 1,272,433. 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 $23.34 billion, a PE ratio of 12.36, a price-to-earnings-growth ratio of 1.62 and a beta of 1.41. The firm has a 50 day simple moving average of $110.02 and a 200-day simple moving average of $113.58.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last issued its earnings results 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 company had revenue of $1.73 billion during 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 was up 7.6% compared to the same quarter last year. During the same period last year, the business earned $2.02 earnings per share. As a group, sell-side 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 firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be issued a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a dividend yield of 4.73%. The ex-dividend date is Friday, September 13th. T. Rowe Price Group's dividend payout ratio is presently 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.