316 Shares in T. Rowe Price Group, Inc. (NASDAQ:TROW) Purchased by Family Firm Inc.

Family Firm Inc. bought a new stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) during the 2nd quarter, Holdings Channel reports. The firm bought 316 shares of the asset manager’s stock, valued at approximately $36,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Massmutual Trust Co. FSB ADV lifted its stake in T. Rowe Price Group by 7.5% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 1,236 shares of the asset manager’s stock valued at $151,000 after acquiring an additional 86 shares during the period. ST Germain D J Co. Inc. lifted its stake in T. Rowe Price Group by 0.3% during the 1st quarter. ST Germain D J Co. Inc. now owns 31,065 shares of the asset manager’s stock valued at $3,787,000 after acquiring an additional 88 shares during the period. MCF Advisors LLC lifted its stake in T. Rowe Price Group by 1.6% during the 1st quarter. MCF Advisors LLC now owns 5,953 shares of the asset manager’s stock valued at $726,000 after acquiring an additional 92 shares during the period. Paulson Wealth Management Inc. lifted its stake in T. Rowe Price Group by 4.9% during the 1st quarter. Paulson Wealth Management Inc. now owns 2,028 shares of the asset manager’s stock valued at $247,000 after acquiring an additional 95 shares during the period. Finally, CVA Family Office LLC lifted its stake in T. Rowe Price Group by 28.3% during the 2nd quarter. CVA Family Office LLC now owns 462 shares of the asset manager’s stock valued at $53,000 after acquiring an additional 102 shares during the period. Institutional investors own 73.39% of the company’s stock.

Wall Street Analysts Forecast Growth

TROW has been the topic of several research analyst reports. Evercore ISI lowered 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. JPMorgan Chase & Co. increased their price objective 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 lowered 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. Deutsche Bank Aktiengesellschaft increased their price objective on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the stock a “hold” rating in a research note on Thursday, August 15th. Finally, Keefe, Bruyette & Woods reiterated 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 note on Monday, July 29th. Three investment analysts have rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $114.67.

Insider Buying and Selling at T. Rowe Price Group

In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 1,401 shares of the 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 completion of the sale, the insider now directly owns 14,198 shares of the company’s stock, valued at approximately $1,644,838.30. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, VP Dorothy C. Sawyer sold 2,000 shares of the firm’s stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $117.00, for a total value of $234,000.00. Following the completion of the transaction, the vice president now directly 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. Also, insider Jessica M. Hiebler sold 1,401 shares of the firm’s stock in a transaction 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 completion of the transaction, 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. Insiders own 2.00% of the company’s stock.

T. Rowe Price Group Trading Up 0.4 %

T. Rowe Price Group stock traded up $0.39 during midday trading on Friday, hitting $109.62. The stock had a trading volume of 732,690 shares, compared to its average volume of 1,275,534. The firm’s fifty day moving average is $112.99 and its two-hundred day moving average is $113.86. The company has a market capitalization of $24.48 billion, a PE ratio of 13.02, a P/E/G ratio of 1.69 and a beta of 1.42. 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 announced 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 company had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.79 billion. During the same period last year, the business earned $2.02 earnings per share. The company’s quarterly revenue was up 7.6% compared to the same quarter last year. As a group, equities research analysts predict that T. Rowe Price Group, Inc. will post 8.98 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

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 dividend on an annualized basis and a yield of 4.52%. The ex-dividend date of this dividend is Friday, September 13th. T. Rowe Price Group’s dividend payout ratio (DPR) is currently 58.91%.

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.