Wakefield Asset Management LLLP Acquires Shares of 4,087 T. Rowe Price Group, Inc. (NASDAQ:TROW)

Wakefield Asset Management LLLP bought a new position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 4,087 shares of the asset manager’s stock, valued at approximately $471,000.

A number of other institutional investors also recently modified their holdings of the business. Massmutual Trust Co. FSB ADV grew its position in T. Rowe Price Group by 7.5% during the first quarter. Massmutual Trust Co. FSB ADV now owns 1,236 shares of the asset manager’s stock worth $151,000 after buying an additional 86 shares in the last quarter. ST Germain D J Co. Inc. increased its position in shares of T. Rowe Price Group by 0.3% in the first quarter. ST Germain D J Co. Inc. now owns 31,065 shares of the asset manager’s stock worth $3,787,000 after purchasing an additional 88 shares during the period. MCF Advisors LLC raised its stake in T. Rowe Price Group by 1.6% in the first quarter. MCF Advisors LLC now owns 5,953 shares of the asset manager’s stock valued at $726,000 after purchasing an additional 92 shares in the last quarter. Paulson Wealth Management Inc. raised its stake in T. Rowe Price Group by 4.9% in the first quarter. Paulson Wealth Management Inc. now owns 2,028 shares of the asset manager’s stock valued at $247,000 after purchasing an additional 95 shares in the last quarter. Finally, CVA Family Office LLC lifted its position in T. Rowe Price Group by 28.3% during the second quarter. CVA Family Office LLC now owns 462 shares of the asset manager’s stock worth $53,000 after purchasing an additional 102 shares during the period. Institutional investors own 73.39% of the company’s stock.

Insider Buying and Selling at T. Rowe Price Group

In other news, insider Jessica M. Hiebler sold 1,401 shares of the firm’s stock in a transaction dated 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 transaction, the insider now directly owns 14,198 shares in the company, valued at $1,644,838.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other T. Rowe Price Group news, VP Dorothy C. Sawyer sold 2,000 shares of the company’s stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $117.00, for a total transaction of $234,000.00. Following the sale, the vice president now owns 34,710 shares of the company’s stock, valued at $4,061,070. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jessica M. Hiebler sold 1,401 shares of T. Rowe Price Group stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $115.85, for a total value of $162,305.85. Following the completion of the transaction, the insider now directly owns 14,198 shares of the company’s stock, valued at $1,644,838.30. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

TROW has been the subject of several analyst reports. JPMorgan Chase & Co. boosted their target price 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. StockNews.com downgraded shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Barclays started coverage on T. Rowe Price Group in a report on Tuesday, August 27th. They issued an “underweight” rating and a $99.00 target price on the stock. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $120.00 price target (down previously from $121.00) on shares of T. Rowe Price Group in a report on Monday, July 29th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on T. Rowe Price Group from $112.00 to $113.00 and gave the company a “hold” rating in a research note on Thursday, August 15th. Four research analysts have rated the stock with a sell rating and seven have issued a hold rating to the company. According to MarketBeat, T. Rowe Price Group has an average rating of “Hold” and a consensus price target of $113.20.

T. Rowe Price Group Trading Down 2.3 %

Shares of TROW stock opened at $101.69 on Friday. The firm has a market capitalization of $22.64 billion, a price-to-earnings ratio of 12.08, a PEG ratio of 1.67 and a beta of 1.41. The business’s 50-day moving average price is $110.68 and its 200-day moving average price is $113.72. T. Rowe Price Group, Inc. has a 12 month low of $87.43 and a 12 month high of $122.27.

T. Rowe Price Group (NASDAQ:TROW) last posted its 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). The business had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.79 billion. T. Rowe Price Group had a return on equity of 19.90% and a net margin of 28.66%. The company’s revenue was up 7.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.02 earnings per share. On average, sell-side analysts predict that T. Rowe Price Group, Inc. will post 9 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be issued a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a yield of 4.88%. The ex-dividend date of this dividend is Friday, September 13th. T. Rowe Price Group’s payout ratio is presently 58.91%.

About T. Rowe Price Group

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.