North Star Asset Management Inc. Purchases Shares of 81,977 T. Rowe Price Group, Inc. $TROW

North Star Asset Management Inc. purchased a new stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) during the second quarter, Holdings Channel reports. The fund purchased 81,977 shares of the asset manager’s stock, valued at approximately $9,320,000.

Several other large investors have also recently made changes to their positions in TROW. SVB Wealth LLC lifted its stake in T. Rowe Price Group by 77.5% during the 4th quarter. SVB Wealth LLC now owns 37,000 shares of the asset manager’s stock worth $3,788,000 after acquiring an additional 16,155 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in T. Rowe Price Group by 3.8% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 520,782 shares of the asset manager’s stock valued at $54,489,000 after acquiring an additional 18,952 shares during the period. Generali Asset Management SPA SGR grew its position in T. Rowe Price Group by 1,680.4% in the 4th quarter. Generali Asset Management SPA SGR now owns 17,715 shares of the asset manager’s stock valued at $1,814,000 after acquiring an additional 16,720 shares in the last quarter. Twin Tree Management LP acquired a new position in T. Rowe Price Group in the 2nd quarter valued at about $2,989,000. Finally, Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new position in T. Rowe Price Group in the 4th quarter valued at about $5,935,000. 73.39% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, VP Joshua B. Nelson sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $111.82, for a total value of $1,118,200.00. Following the sale, the vice president owned 71,328 shares of the company’s stock, valued at $7,975,896.96. This trade represents a 12.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.60% of the stock is currently owned by company insiders.

T. Rowe Price Group Price Performance

TROW opened at $112.36 on Friday. The business has a fifty day moving average price of $114.28 and a 200 day moving average price of $103.29. T. Rowe Price Group, Inc. has a 12 month low of $85.22 and a 12 month high of $122.00. The stock has a market capitalization of $23.97 billion, a price-to-earnings ratio of 11.27, a PEG ratio of 3.73 and a beta of 1.47.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings results on Friday, July 31st. The asset manager reported $2.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.52 by $0.05. The company had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.89 billion. T. Rowe Price Group had a return on equity of 20.91% and a net margin of 29.26%.T. Rowe Price Group’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same quarter last year, the company earned $2.24 EPS. On average, research analysts anticipate that T. Rowe Price Group, Inc. will post 10.15 earnings per share for the current year.

T. Rowe Price Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th will be paid a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date is Tuesday, September 15th. T. Rowe Price Group’s dividend payout ratio is presently 52.16%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on TROW. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $109.00 price target on shares of T. Rowe Price Group in a research report on Monday, August 3rd. Weiss Ratings upgraded shares of T. Rowe Price Group from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, July 2nd. Zacks Research downgraded shares of T. Rowe Price Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 13th. Morgan Stanley set a $116.00 target price on shares of T. Rowe Price Group in a research note on Wednesday, July 29th. Finally, Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $115.00 target price (down from $120.00) on shares of T. Rowe Price Group in a report on Monday, August 3rd. Ten investment analysts have rated the stock with a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and an average target price of $105.67.

T. Rowe Price Group Company Profile

T. Rowe Price Group, Inc is a global investment management firm headquartered in Baltimore, Maryland, founded by Thomas Rowe Price Jr. in 1937. The company provides a broad range of investment products and services for individual investors, financial intermediaries, retirement plan sponsors and institutional clients. Its offerings are built around active investment management and in-house research across equity, fixed income and multi-asset strategies, reflecting a long history as a research-driven asset manager.

The firm’s product lineup includes mutual funds, separate accounts, collective investment trusts, target-date and target-risk funds, and managed account solutions, as well as services for defined contribution and defined benefit retirement plans.