&Partners Acquires 1,140 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

&Partners lifted its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 26.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,417 shares of the asset manager’s stock after acquiring an additional 1,140 shares during the period. &Partners’ holdings in T. Rowe Price Group were worth $625,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Handelsbanken Fonder AB boosted its holdings in T. Rowe Price Group by 6.2% in the fourth quarter. Handelsbanken Fonder AB now owns 32,042 shares of the asset manager’s stock worth $3,451,000 after acquiring an additional 1,877 shares in the last quarter. GAMMA Investing LLC bought a new stake in T. Rowe Price Group in the 4th quarter valued at $139,000. Atria Wealth Solutions Inc. increased its position in T. Rowe Price Group by 89.6% in the fourth quarter. Atria Wealth Solutions Inc. now owns 8,714 shares of the asset manager’s stock worth $939,000 after purchasing an additional 4,119 shares during the last quarter. Stevens Capital Management LP bought a new stake in T. Rowe Price Group in the fourth quarter worth $337,000. Finally, Citizens Financial Group Inc. RI bought a new position in shares of T. Rowe Price Group during the fourth quarter valued at approximately $312,000. 73.39% of the stock is currently owned by institutional investors.

T. Rowe Price Group Price Performance

Shares of T. Rowe Price Group stock opened at $109.62 on Friday. The company has a market capitalization of $24.48 billion, a P/E ratio of 13.02, a P/E/G ratio of 1.69 and a beta of 1.42. The business has a 50 day moving average price of $112.99 and a 200 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.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings results on Friday, July 26th. The asset manager reported $2.26 earnings per share for the quarter, missing analysts’ consensus estimates 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 company had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.79 billion. During the same period in the prior year, the business earned $2.02 EPS. The business’s revenue for the quarter was up 7.6% on a year-over-year basis. As a group, research analysts expect that T. Rowe Price Group, Inc. will post 8.98 EPS for the current fiscal 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 given a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a dividend yield of 4.52%. The ex-dividend date is Friday, September 13th. T. Rowe Price Group’s payout ratio is 58.91%.

Insider Activity

In other news, 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 completion of the sale, the vice president now owns 34,710 shares in the company, valued at $4,061,070. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 1,401 shares of the firm’s stock in a transaction dated 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 in the company, valued at $1,644,838.30. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Dorothy C. Sawyer sold 2,000 shares of T. Rowe Price Group stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $117.00, for a total value of $234,000.00. Following the completion of the transaction, the vice president now owns 34,710 shares of the company’s stock, valued at approximately $4,061,070. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

TROW has been the topic of a number of recent research reports. TD Cowen dropped their price objective on shares of T. Rowe Price Group from $123.00 to $118.00 and set a “hold” rating on the stock in a research note on Monday, July 29th. StockNews.com lowered shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Deutsche Bank Aktiengesellschaft increased their price objective 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. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $120.00 price target (down from $121.00) on shares of T. Rowe Price Group in a research report on Monday, July 29th. Finally, Evercore ISI dropped their price target on 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. Three investment analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $114.67.

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.