L. Roy Papp & Associates LLP Purchases 8,003 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

L. Roy Papp & Associates LLP increased its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 4.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 171,469 shares of the asset manager’s stock after buying an additional 8,003 shares during the quarter. T. Rowe Price Group comprises approximately 2.4% of L. Roy Papp & Associates LLP’s holdings, making the stock its 15th largest holding. L. Roy Papp & Associates LLP owned approximately 0.08% of T. Rowe Price Group worth $19,772,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. Fisher Asset Management LLC grew its stake in shares of T. Rowe Price Group by 6.7% during the fourth quarter. Fisher Asset Management LLC now owns 1,752,005 shares of the asset manager’s stock worth $188,674,000 after acquiring an additional 109,653 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of T. Rowe Price Group by 21.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,352,683 shares of the asset manager’s stock worth $145,685,000 after purchasing an additional 236,697 shares in the last quarter. First Trust Advisors LP grew its holdings in T. Rowe Price Group by 1.3% in the 4th quarter. First Trust Advisors LP now owns 1,173,858 shares of the asset manager’s stock valued at $126,413,000 after buying an additional 15,504 shares in the last quarter. Confluence Investment Management LLC purchased a new stake in T. Rowe Price Group in the 1st quarter valued at $130,386,000. Finally, UBS Group AG lifted its stake in shares of T. Rowe Price Group by 473.3% in the 4th quarter. UBS Group AG now owns 975,226 shares of the asset manager’s stock valued at $105,022,000 after purchasing an additional 805,106 shares during the last quarter. 73.39% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on TROW shares. StockNews.com lowered T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. TD Cowen lowered their target price on shares of T. Rowe Price Group from $123.00 to $118.00 and set a “hold” rating for the company in a research note on Monday, July 29th. JPMorgan Chase & Co. boosted their target price on T. Rowe Price Group from $102.00 to $107.00 and gave the company an “underweight” rating in a report on Tuesday, July 23rd. Deutsche Bank Aktiengesellschaft raised their price target on T. Rowe Price Group from $112.00 to $113.00 and gave the stock a “hold” rating in a report on Thursday, August 15th. Finally, Keefe, Bruyette & Woods restated a “market perform” rating and issued a $120.00 price objective (down previously from $121.00) on shares of T. Rowe Price Group in a research report on Monday, July 29th. Three investment analysts have rated the stock with a sell rating and seven have assigned a hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $114.67.

T. Rowe Price Group Stock Performance

Shares of TROW traded up $0.39 during trading hours on Friday, hitting $109.62. 729,991 shares of the company were exchanged, compared to its average volume of 1,275,520. The company has a market cap of $24.48 billion, a PE ratio of 12.97, a PEG ratio of 1.69 and a beta of 1.42. The firm’s 50 day moving average is $113.09 and its 200-day moving average is $113.85. T. Rowe Price Group, Inc. has a 52 week low of $87.43 and a 52 week high of $122.27.

T. Rowe Price Group (NASDAQ:TROW) last released 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). T. Rowe Price Group had a net margin of 28.66% and a return on equity of 19.90%. The firm had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.79 billion. During the same quarter in the prior year, the firm posted $2.02 earnings per share. The business’s revenue for the quarter was up 7.6% on a year-over-year basis. As a group, equities analysts forecast that T. Rowe Price Group, Inc. will post 8.98 earnings per share for the current fiscal 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 dividend of $1.24 per share. This represents a $4.96 annualized dividend and a dividend yield of 4.52%. The ex-dividend date is Friday, September 13th. T. Rowe Price Group’s payout ratio is presently 58.91%.

Insider Transactions at T. Rowe Price Group

In other news, VP Dorothy C. Sawyer sold 2,000 shares of the firm’s stock in a transaction dated 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 owns 34,710 shares of the company’s stock, valued at $4,061,070. The transaction was disclosed in a legal filing with the SEC, 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 that occurred 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 sale, 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 legal filing with the SEC, which is accessible through this link. Also, VP Dorothy C. Sawyer sold 2,000 shares of T. Rowe Price Group stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $117.00, for a total value of $234,000.00. Following the sale, 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. Company 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.