Lynx Investment Advisory Takes $29,000 Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Lynx Investment Advisory bought a new stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 254 shares of the asset manager’s stock, valued at approximately $29,000.

A number of other large investors have also recently modified their holdings of the stock. Mather Group LLC. boosted its stake in shares of T. Rowe Price Group by 1.0% during the 2nd quarter. Mather Group LLC. now owns 125,369 shares of the asset manager’s stock valued at $15,285,000 after purchasing an additional 1,253 shares in the last quarter. Quent Capital LLC boosted its stake in shares of T. Rowe Price Group by 45.2% during the 2nd quarter. Quent Capital LLC now owns 504 shares of the asset manager’s stock valued at $58,000 after purchasing an additional 157 shares in the last quarter. ST Germain D J Co. Inc. boosted its stake in shares of T. Rowe Price Group by 1.6% during the 2nd quarter. ST Germain D J Co. Inc. now owns 31,553 shares of the asset manager’s stock valued at $3,638,000 after purchasing an additional 488 shares in the last quarter. Beach Investment Counsel Inc. PA bought a new stake in shares of T. Rowe Price Group during the 2nd quarter valued at about $46,000. Finally, Versant Capital Management Inc boosted its stake in shares of T. Rowe Price Group by 660.5% during the 2nd quarter. Versant Capital Management Inc now owns 327 shares of the asset manager’s stock valued at $38,000 after purchasing an additional 284 shares in the last quarter. Institutional investors own 73.39% of the company’s stock.

T. Rowe Price Group Stock Performance

Shares of TROW traded up $0.62 during mid-day trading on Wednesday, hitting $104.51. 377,505 shares of the company traded hands, compared to its average volume of 1,309,669. The stock has a 50-day moving average price of $115.34 and a two-hundred day moving average price of $114.19. T. Rowe Price Group, Inc. has a 1 year low of $87.43 and a 1 year high of $122.27. The stock has a market cap of $23.26 billion, a price-to-earnings ratio of 12.34, a P/E/G ratio of 1.65 and a beta of 1.42.

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 for the quarter, missing the consensus estimate 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 company had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.79 billion. During the same period in the previous year, the firm earned $2.02 earnings per share. The firm’s revenue for the quarter was up 7.6% on a year-over-year basis. On average, analysts forecast that T. Rowe Price Group, Inc. will post 8.98 EPS for the current year.

T. Rowe Price Group Dividend Announcement

The business also recently disclosed 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. The ex-dividend date is Friday, September 13th. This represents a $4.96 annualized dividend and a dividend yield of 4.75%. T. Rowe Price Group’s payout ratio is 58.91%.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. TD Cowen dropped their price objective on shares of T. Rowe Price Group from $123.00 to $118.00 and set a “hold” rating on the stock in a research note on Monday, July 29th. UBS Group boosted their price objective on shares of T. Rowe Price Group from $100.00 to $109.00 and gave the stock a “sell” rating in a research note on Friday, April 12th. StockNews.com lowered shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $120.00 target price (down previously from $121.00) on shares of T. Rowe Price Group in a research note on Monday, July 29th. Finally, Evercore ISI dropped their target price on shares of T. Rowe Price Group from $110.00 to $107.00 and set an “in-line” rating on the stock 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, T. Rowe Price Group has a consensus rating of “Hold” and an average target price of $114.56.

Insider Activity

In other T. Rowe Price Group news, VP Dorothy C. Sawyer sold 2,000 shares of the company’s stock in a transaction that occurred 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 sale, the vice president now directly owns 34,710 shares of the company’s stock, valued at $4,061,070. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other T. Rowe Price Group news, VP Dorothy C. Sawyer sold 2,000 shares of the company’s stock in a transaction that occurred 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 sale, the vice president now directly owns 34,710 shares of the company’s stock, valued at $4,061,070. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Jessica M. Hiebler sold 1,401 shares of the company’s stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $115.85, for a total transaction of $162,305.85. Following the sale, 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. 2.00% of the stock is owned by corporate insiders.

T. Rowe Price Group 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.