HPM Partners LLC lifted its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 1.3% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 42,707 shares of the asset manager’s stock after purchasing an additional 553 shares during the quarter. HPM Partners LLC’s holdings in T. Rowe Price Group were worth $3,169,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors also recently bought and sold shares of TROW. Nationwide Fund Advisors lifted its position in shares of T. Rowe Price Group by 4.4% in the first quarter. Nationwide Fund Advisors now owns 116,426 shares of the asset manager’s stock worth $7,934,000 after purchasing an additional 4,867 shares in the last quarter. Profund Advisors LLC raised its position in T. Rowe Price Group by 5.1% during the first quarter. Profund Advisors LLC now owns 7,904 shares of the asset manager’s stock valued at $539,000 after acquiring an additional 383 shares in the last quarter. Russell Investments Group Ltd. raised its position in T. Rowe Price Group by 11.2% during the first quarter. Russell Investments Group Ltd. now owns 40,642 shares of the asset manager’s stock valued at $2,771,000 after acquiring an additional 4,086 shares in the last quarter. Honeywell International Inc. bought a new position in T. Rowe Price Group during the first quarter valued at approximately $8,382,000. Finally, Schaper Benz & Wise Investment Counsel Inc. WI raised its position in shares of T. Rowe Price Group by 4.9% in the first quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 124,086 shares of the asset manager’s stock valued at $8,456,000 after purchasing an additional 5,745 shares during the period. 73.62% of the stock is owned by institutional investors and hedge funds.
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TROW has been the topic of a number of recent analyst reports. Zacks Investment Research raised shares of T. Rowe Price Group from a “hold” rating to a “buy” rating and set a $83.00 price target on the stock in a research report on Wednesday, June 28th. Jefferies Group LLC set a $83.00 price target on shares of T. Rowe Price Group and gave the company a “buy” rating in a research report on Tuesday, June 20th. ValuEngine upgraded shares of T. Rowe Price Group from a “hold” rating to a “buy” rating in a research note on Wednesday, August 2nd. BidaskClub downgraded shares of T. Rowe Price Group from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, August 1st. Finally, Wells Fargo & Company reiterated a “market perform” rating on shares of T. Rowe Price Group in a research note on Thursday, July 27th. Four equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. T. Rowe Price Group currently has a consensus rating of “Hold” and an average price target of $81.30.
In other T. Rowe Price Group news, insider David Oestreicher sold 10,394 shares of the stock in a transaction on Thursday, July 27th. The stock was sold at an average price of $83.07, for a total transaction of $863,429.58. Following the sale, the insider now directly owns 82,299 shares in the company, valued at approximately $6,836,577.93. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Jessica M. Hiebler sold 1,000 shares of the stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $84.29, for a total value of $84,290.00. Following the sale, the insider now owns 8,461 shares in the company, valued at $713,177.69. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 19,720 shares of company stock valued at $1,630,701. 3.60% of the stock is owned by corporate insiders.
Shares of T. Rowe Price Group, Inc. (TROW) opened at 86.69 on Friday. The firm’s 50-day moving average price is $83.46 and its 200 day moving average price is $75.43. The company has a market capitalization of $20.84 billion, a PE ratio of 14.88 and a beta of 1.24. T. Rowe Price Group, Inc. has a one year low of $62.97 and a one year high of $86.77.
T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings data on Tuesday, July 25th. The asset manager reported $1.28 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.27 by $0.01. T. Rowe Price Group had a return on equity of 24.38% and a net margin of 32.64%. The company had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.16 billion. During the same quarter last year, the company earned $0.76 EPS. The firm’s revenue for the quarter was up 12.1% on a year-over-year basis. Analysts anticipate that T. Rowe Price Group, Inc. will post $5.65 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 28th. Investors of record on Thursday, September 14th will be given a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 2.63%. The ex-dividend date of this dividend is Wednesday, September 13th. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 39.18%.
About T. Rowe Price Group
T. Rowe Price Group, Inc is a financial services holding company. The Company provides global investment management services through its subsidiaries to investors across the world. The Company provides an array of Company sponsored the United States mutual funds, other sponsored pooled investment vehicles, sub advisory services, separate account management, recordkeeping, and related services to individuals, advisors, institutions, financial intermediaries and retirement plan sponsors.
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