T. Rowe Price Group, Inc. (NASDAQ:TROW) Shares Purchased by Versant Capital Management Inc

Versant Capital Management Inc boosted its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 660.5% during the 2nd quarter, Holdings Channel.com reports. The firm owned 327 shares of the asset manager’s stock after purchasing an additional 284 shares during the quarter. Versant Capital Management Inc’s holdings in T. Rowe Price Group were worth $38,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of TROW. Nomura Asset Management Co. Ltd. lifted its stake in T. Rowe Price Group by 15.8% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 344,889 shares of the asset manager’s stock worth $37,141,000 after purchasing an additional 47,043 shares in the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in shares of T. Rowe Price Group during the 1st quarter worth approximately $1,008,000. Nebula Research & Development LLC acquired a new stake in shares of T. Rowe Price Group during the 4th quarter worth approximately $807,000. Fisher Asset Management LLC increased its holdings in T. Rowe Price Group by 6.6% in the 4th quarter. Fisher Asset Management LLC now owns 1,751,405 shares of the asset manager’s stock valued at $188,609,000 after purchasing an additional 109,053 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. raised its position in T. Rowe Price Group by 52.4% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 65,534 shares of the asset manager’s stock valued at $7,990,000 after purchasing an additional 22,533 shares during the period. 73.39% of the stock is owned by hedge funds and other institutional investors.

T. Rowe Price Group Stock Performance

NASDAQ TROW traded up $1.67 during mid-day trading on Wednesday, reaching $105.56. 136,365 shares of the stock were exchanged, compared to its average volume of 1,308,072. T. Rowe Price Group, Inc. has a 1-year low of $87.43 and a 1-year high of $122.27. The business’s fifty day simple moving average is $115.34 and its 200 day simple moving average is $114.19. The stock has a market capitalization of $23.50 billion, a PE ratio of 12.34, a PEG ratio of 1.65 and a beta of 1.42.

T. Rowe Price Group (NASDAQ:TROW) last issued its earnings results on Friday, July 26th. The asset manager reported $2.26 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 business had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.79 billion. During the same period in the prior year, the business posted $2.02 EPS. The business’s revenue was up 7.6% on a year-over-year basis. On average, analysts anticipate 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. Shareholders 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 yield of 4.70%. The ex-dividend date is Friday, September 13th. T. Rowe Price Group’s dividend payout ratio is currently 58.91%.

Insiders Place Their Bets

In other news, insider Jessica M. Hiebler sold 1,401 shares of T. Rowe Price Group stock in a transaction dated Thursday, June 27th. The shares were 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 approximately $1,644,838.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other T. Rowe Price Group news, VP Dorothy C. Sawyer sold 2,000 shares of the business’s stock in a transaction dated Tuesday, June 18th. The shares were 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 legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jessica M. Hiebler sold 1,401 shares of the business’s stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $115.85, for a total transaction of $162,305.85. Following the sale, the insider now owns 14,198 shares in the company, valued at $1,644,838.30. The disclosure for this sale can be found here. 2.00% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. StockNews.com lowered T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. JPMorgan Chase & Co. boosted their target price on shares of T. Rowe Price Group from $102.00 to $107.00 and gave the stock an “underweight” rating in a research note on Tuesday, July 23rd. TD Cowen decreased their price objective 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. UBS Group upped their target price on shares of T. Rowe Price Group from $100.00 to $109.00 and gave the company a “sell” rating in a report on Friday, April 12th. Finally, Evercore ISI cut their price target on shares of T. Rowe Price Group from $110.00 to $107.00 and set an “in-line” rating for the company in a report on Tuesday, April 30th. Three research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $114.56.

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.