International Assets Investment Management LLC Acquires 3,327 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

International Assets Investment Management LLC boosted its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 33.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,194 shares of the asset manager’s stock after acquiring an additional 3,327 shares during the period. International Assets Investment Management LLC’s holdings in T. Rowe Price Group were worth $1,521,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in TROW. Atria Wealth Solutions Inc. increased its holdings in shares of T. Rowe Price Group by 89.6% during the fourth quarter. Atria Wealth Solutions Inc. now owns 8,714 shares of the asset manager’s stock valued at $939,000 after acquiring an additional 4,119 shares in the last quarter. Choreo LLC increased its stake in T. Rowe Price Group by 65.0% during the 4th quarter. Choreo LLC now owns 6,677 shares of the asset manager’s stock valued at $719,000 after purchasing an additional 2,631 shares in the last quarter. Van ECK Associates Corp raised its holdings in T. Rowe Price Group by 2.9% in the fourth quarter. Van ECK Associates Corp now owns 36,261 shares of the asset manager’s stock worth $3,905,000 after buying an additional 1,025 shares during the last quarter. Penobscot Investment Management Company Inc. lifted its stake in shares of T. Rowe Price Group by 6.7% in the fourth quarter. Penobscot Investment Management Company Inc. now owns 4,909 shares of the asset manager’s stock worth $529,000 after buying an additional 309 shares in the last quarter. Finally, Certuity LLC purchased a new stake in shares of T. Rowe Price Group during the fourth quarter valued at approximately $228,000. 73.39% of the stock is owned by hedge funds and other institutional investors.

T. Rowe Price Group Trading Up 1.0 %

TROW opened at $106.04 on Friday. The company has a market capitalization of $23.68 billion, a price-to-earnings ratio of 12.59, a PEG ratio of 1.74 and a beta of 1.42. T. Rowe Price Group, Inc. has a 12-month low of $87.43 and a 12-month high of $122.27. The business’s fifty day simple moving average is $112.17 and its 200-day simple moving average is $113.83.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings data 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 return on equity of 19.90% and a net margin of 28.66%. The business had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.79 billion. During the same period last year, the firm earned $2.02 EPS. The business’s quarterly revenue was up 7.6% on a year-over-year basis. On average, equities research analysts predict that T. Rowe Price Group, Inc. will post 9 EPS for the current year.

T. Rowe Price Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be given a $1.24 dividend. This represents a $4.96 annualized dividend and a dividend yield of 4.68%. The ex-dividend date of this dividend is Friday, September 13th. T. Rowe Price Group’s payout ratio is currently 58.91%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on TROW. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $120.00 price objective (down from $121.00) on shares of T. Rowe Price Group in a research report on Monday, July 29th. Deutsche Bank Aktiengesellschaft upped their price target on T. Rowe Price Group from $112.00 to $113.00 and gave the company a “hold” rating in a report on Thursday, August 15th. StockNews.com downgraded T. Rowe Price Group from a “buy” rating to a “hold” rating in a report 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 on the stock in a research note on Monday, July 29th. Finally, Barclays initiated coverage on shares of T. Rowe Price Group in a report on Tuesday. They set an “underweight” rating and a $99.00 price target on the stock. Four investment analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $113.10.

Insiders Place Their Bets

In other news, insider Jessica M. Hiebler sold 1,401 shares of T. Rowe Price Group 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 sale, the insider now directly owns 14,198 shares in the company, valued at $1,644,838.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, VP Dorothy C. Sawyer sold 2,000 shares of the business’s stock in a transaction dated Tuesday, June 18th. The stock was 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 owns 34,710 shares of the company’s stock, valued at approximately $4,061,070. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jessica M. Hiebler sold 1,401 shares of the business’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 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 insiders.

About T. Rowe Price Group

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.