Blair William & Co. IL Raises Stock Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Blair William & Co. IL grew its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 5.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 214,777 shares of the asset manager’s stock after acquiring an additional 10,340 shares during the quarter. Blair William & Co. IL owned about 0.10% of T. Rowe Price Group worth $24,766,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in TROW. Confluence Investment Management LLC purchased a new position in T. Rowe Price Group during the first quarter worth about $130,386,000. UBS Group AG lifted its position in T. Rowe Price Group by 473.3% during the fourth quarter. UBS Group AG now owns 975,226 shares of the asset manager’s stock worth $105,022,000 after buying an additional 805,106 shares during the period. Norges Bank purchased a new position in T. Rowe Price Group during the fourth quarter worth about $80,831,000. Hsbc Holdings PLC lifted its position in T. Rowe Price Group by 66.8% during the fourth 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 position in T. Rowe Price Group by 492.3% during the first 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 during the period. 73.39% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. TD Cowen reduced their target price on T. Rowe Price Group from $123.00 to $118.00 and set a “hold” rating on the stock in a research report on Monday, July 29th. JPMorgan Chase & Co. increased their target price on T. Rowe Price Group from $102.00 to $107.00 and gave the stock an “underweight” rating in a research report on Tuesday, July 23rd. Wells Fargo & Company assumed coverage on T. Rowe Price Group in a research report on Thursday, September 12th. They set an “equal weight” rating and a $109.00 target price on the stock. Evercore ISI dropped their price target 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. Finally, Barclays assumed coverage on T. Rowe Price Group in a research note on Tuesday, August 27th. They set an “underweight” rating and a $99.00 price target for the company. Three investment analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. Based on data from MarketBeat, T. Rowe Price Group has an average rating of “Hold” and an average target price of $113.30.

Insider Buying and Selling at T. Rowe Price Group

In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 484 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $104.73, for a total transaction of $50,689.32. Following the completion of the sale, the insider now owns 13,939 shares in the company, valued at approximately $1,459,831.47. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 484 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $104.73, for a total transaction of $50,689.32. Following the completion of the sale, the insider now owns 13,939 shares in the company, valued at approximately $1,459,831.47. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the 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 transaction, the vice president now directly owns 123,624 shares in the company, valued at approximately $12,712,255.92. The disclosure for this sale can be found here. Insiders sold a total of 13,854 shares of company stock worth $1,443,767 in the last 90 days. 2.00% of the stock is owned by corporate insiders.

T. Rowe Price Group Stock Performance

TROW stock opened at $108.13 on Thursday. T. Rowe Price Group, Inc. has a 1 year low of $87.43 and a 1 year high of $122.27. The firm has a market cap of $24.07 billion, a P/E ratio of 12.84, a price-to-earnings-growth ratio of 1.69 and a beta of 1.41. The stock has a 50-day simple moving average of $109.13 and a 200-day simple moving average of $113.38.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings data 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 net margin of 28.66% and a return on equity of 19.90%. 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 business earned $2.02 EPS. T. Rowe Price Group’s revenue for the quarter was up 7.6% compared to the same quarter last year. On average, equities research analysts predict that T. Rowe Price Group, Inc. will post 9 EPS for the current year.

T. Rowe Price Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be paid 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 4.59%. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 58.91%.

T. Rowe Price Group 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.