M&G Plc Invests $1.33 Million in T. Rowe Price Group, Inc. (NASDAQ:TROW)

M&G Plc bought a new stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 11,595 shares of the asset manager’s stock, valued at approximately $1,333,000.

Other institutional investors have also bought and sold shares of the company. Lynx Investment Advisory acquired a new position in shares of T. Rowe Price Group in the 2nd quarter valued at about $29,000. First United Bank & Trust bought a new stake in T. Rowe Price Group in the fourth quarter worth approximately $31,000. Versant Capital Management Inc lifted its stake in T. Rowe Price Group by 660.5% in the second quarter. Versant Capital Management Inc now owns 327 shares of the asset manager’s stock valued at $38,000 after buying an additional 284 shares during the period. Signature Resources Capital Management LLC bought a new position in shares of T. Rowe Price Group during the 4th quarter worth approximately $39,000. Finally, EverSource Wealth Advisors LLC grew its position in shares of T. Rowe Price Group by 93.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 331 shares of the asset manager’s stock worth $40,000 after buying an additional 160 shares during the period. Institutional investors own 73.39% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on TROW shares. Keefe, Bruyette & Woods reiterated 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 research report on Monday, July 29th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of T. Rowe Price Group from $122.00 to $112.00 and set a “hold” rating on the stock in a research report on Monday, July 29th. StockNews.com lowered T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. TD Cowen cut their price target on 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. Finally, Evercore ISI reduced their price objective on T. Rowe Price Group from $110.00 to $107.00 and set an “in-line” rating for the company in a research note on Tuesday, April 30th. Three research analysts have rated the stock with a sell rating and seven have issued a hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $114.56.

T. Rowe Price Group Trading Up 0.8 %

Shares of NASDAQ:TROW traded up $0.79 during mid-day trading on Tuesday, hitting $105.43. 689,097 shares of the company traded hands, compared to its average volume of 1,302,898. The stock has a market cap of $23.47 billion, a P/E ratio of 12.43, a P/E/G ratio of 1.63 and a beta of 1.42. The stock has a 50-day moving average price of $114.39 and a two-hundred day moving average price of $114.02. 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 quarterly earnings data on Friday, July 26th. The asset manager reported $2.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.27 by ($0.01). The firm had revenue of $1.73 billion for 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%. T. Rowe Price Group’s revenue was up 7.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.02 earnings per share. As a group, analysts expect that T. Rowe Price Group, Inc. will post 8.98 earnings per share for the current year.

T. Rowe Price Group Dividend Announcement

The firm also recently announced 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 annualized dividend and a dividend yield of 4.70%. The ex-dividend date of this dividend is Friday, September 13th. T. Rowe Price Group’s dividend payout ratio is presently 58.91%.

Insider Activity at T. Rowe Price Group

In other news, VP Dorothy C. Sawyer sold 2,000 shares of T. Rowe Price Group stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $117.00, for a total transaction of $234,000.00. Following the sale, the vice president now directly owns 34,710 shares in the company, valued at approximately $4,061,070. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Jessica M. Hiebler sold 1,401 shares of the firm’s stock in a transaction on 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Dorothy C. Sawyer sold 2,000 shares of the firm’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 completion of the transaction, the vice president now directly owns 34,710 shares of the company’s stock, valued at $4,061,070. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by company insiders.

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.