Anchor Investment Management LLC Purchases 1,139 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Anchor Investment Management LLC grew its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 4.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 27,222 shares of the asset manager’s stock after buying an additional 1,139 shares during the period. Anchor Investment Management LLC’s holdings in T. Rowe Price Group were worth $3,139,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group boosted its position in T. Rowe Price Group by 1.7% during the second quarter. Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group now owns 11,719 shares of the asset manager’s stock worth $1,351,000 after purchasing an additional 194 shares during the period. Sanctuary Advisors LLC bought a new position in T. Rowe Price Group in the 2nd quarter worth approximately $1,567,000. Cetera Investment Advisers grew its stake in T. Rowe Price Group by 3.2% in the 2nd quarter. Cetera Investment Advisers now owns 44,646 shares of the asset manager’s stock valued at $5,148,000 after buying an additional 1,385 shares in the last quarter. EP Wealth Advisors LLC bought a new stake in T. Rowe Price Group during the 2nd quarter valued at $419,000. Finally, Quarry LP purchased a new stake in shares of T. Rowe Price Group during the second quarter worth $86,000. Hedge funds and other institutional investors own 73.39% of the company’s stock.

T. Rowe Price Group Stock Up 0.2 %

Shares of TROW stock opened at $107.34 on Thursday. The business has a 50-day moving average price of $107.42 and a two-hundred day moving average price of $112.81. T. Rowe Price Group, Inc. has a 12-month low of $87.43 and a 12-month high of $122.27. The firm has a market cap of $23.97 billion, a P/E ratio of 12.75, a price-to-earnings-growth ratio of 1.75 and a beta of 1.41.

T. Rowe Price Group (NASDAQ:TROW) last issued 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 firm had revenue of $1.73 billion during the quarter, compared to analysts’ expectations 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 quarterly revenue was up 7.6% compared to the same quarter last year. During the same period in the prior year, the company earned $2.02 EPS. As a group, research analysts expect that T. Rowe Price Group, Inc. will post 8.96 EPS for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were given a dividend of $1.24 per share. The ex-dividend date was Friday, September 13th. This represents a $4.96 annualized dividend and a yield of 4.62%. T. Rowe Price Group’s payout ratio is 58.91%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on TROW shares. StockNews.com cut T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $120.00 target price (down previously from $121.00) on shares of T. Rowe Price Group in a report on Monday, July 29th. TD Cowen lowered their price target on shares of T. Rowe Price Group from $123.00 to $118.00 and set a “hold” rating on the stock in a report on Monday, July 29th. JPMorgan Chase & Co. raised their price objective on shares of T. Rowe Price Group from $102.00 to $107.00 and gave the company an “underweight” rating in a research report on Tuesday, July 23rd. Finally, Barclays started coverage on shares of T. Rowe Price Group in a research note on Tuesday, August 27th. They issued an “underweight” rating and a $99.00 target price on the stock. Three analysts have rated the stock with a sell rating and eight have given a hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $113.30.

Insider Activity

In related news, insider Jessica M. Hiebler sold 484 shares of the stock in a transaction dated 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 directly owns 13,939 shares in the company, valued at approximately $1,459,831.47. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the company’s 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 approximately $12,712,255.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jessica M. Hiebler sold 484 shares of the stock in a transaction on Friday, September 13th. The shares were sold at an average price of $104.73, for a total transaction of $50,689.32. Following the sale, the insider now directly owns 13,939 shares of the company’s stock, valued at approximately $1,459,831.47. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

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.