Qsemble Capital Management LP Invests $1.44 Million in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Qsemble Capital Management LP purchased a new position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 12,475 shares of the asset manager's stock, valued at approximately $1,438,000.

Other institutional investors also recently bought and sold shares of the company. American Century Companies Inc. grew its holdings in T. Rowe Price Group by 4.5% in the second quarter. American Century Companies Inc. now owns 2,512,793 shares of the asset manager's stock valued at $289,750,000 after purchasing an additional 107,086 shares during the period. LPL Financial LLC increased its position in shares of T. Rowe Price Group by 9.8% during the second quarter. LPL Financial LLC now owns 270,738 shares of the asset manager's stock worth $31,219,000 after purchasing an additional 24,075 shares in the last quarter. Steigerwald Gordon & Koch Inc. grew its position in T. Rowe Price Group by 3.5% in the 2nd quarter. Steigerwald Gordon & Koch Inc. now owns 114,778 shares of the asset manager's stock valued at $13,235,000 after buying an additional 3,882 shares during the last quarter. Daiwa Securities Group Inc. boosted its position in shares of T. Rowe Price Group by 10.9% during the 2nd quarter. Daiwa Securities Group Inc. now owns 24,434 shares of the asset manager's stock worth $2,817,000 after purchasing an additional 2,411 shares in the last quarter. Finally, Royal London Asset Management Ltd. raised its position in T. Rowe Price Group by 1.6% during the second quarter. Royal London Asset Management Ltd. now owns 84,310 shares of the asset manager's stock worth $9,722,000 after acquiring an additional 1,340 shares during the last quarter. 73.39% of the stock is owned by hedge funds and other institutional investors.

T. Rowe Price Group Price Performance

NASDAQ:TROW traded down $0.31 during trading hours on Friday, hitting $104.56. The stock had a trading volume of 1,147,782 shares, compared to its average volume of 1,271,730. The company has a 50 day simple moving average of $109.80 and a two-hundred day simple moving average of $113.52. T. Rowe Price Group, Inc. has a one year low of $87.43 and a one year high of $122.27. The firm has a market capitalization of $23.35 billion, a price-to-earnings ratio of 12.45, a P/E/G ratio of 1.66 and a beta of 1.41.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last released its 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). The business had revenue of $1.73 billion for the quarter, compared to analysts' expectations of $1.79 billion. T. Rowe Price Group had a net margin of 28.66% and a return on equity of 19.90%. T. Rowe Price Group's revenue for the quarter was up 7.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.02 earnings per share. Equities research analysts anticipate that T. Rowe Price Group, Inc. will post 9 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

The business 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 $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a dividend yield of 4.74%. The ex-dividend date is Friday, September 13th. T. Rowe Price Group's payout ratio is presently 58.91%.

Insider Activity at T. Rowe Price Group

In other news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of T. Rowe Price Group stock in a transaction on 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 completion of the sale, the vice president now directly owns 123,624 shares in the company, valued at $12,712,255.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, insider Jessica M. Hiebler sold 1,401 shares of the business's 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 completion of the sale, the insider now owns 14,198 shares in the company, valued at $1,644,838.30. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the company'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 sale, the vice president now owns 123,624 shares of the company's stock, valued at approximately $12,712,255.92. The disclosure for this sale can be found here. Insiders sold 15,370 shares of company stock worth $1,627,078 over the last three months. 2.00% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on TROW shares. Keefe, Bruyette & Woods restated a "market perform" rating and issued a $120.00 price target (down previously from $121.00) on shares of T. Rowe Price Group in a report on Monday, July 29th. Wells Fargo & Company initiated coverage on T. Rowe Price Group in a report on Thursday. They set an "equal weight" rating and a $109.00 price target on the stock. Evercore ISI reduced their price objective on shares of T. Rowe Price Group from $115.00 to $108.00 and set an "in-line" rating for the company in a research report on Thursday, September 5th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the company a "hold" rating in a report on Thursday, August 15th. Finally, Barclays assumed coverage on shares of T. Rowe Price Group in a report on Tuesday, August 27th. They set an "underweight" rating and a $99.00 price target on the stock. Three equities research analysts have rated the stock with a sell rating and eight have given a hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $113.30.

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.