American Century Companies Inc. Raises Stock Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

American Century Companies Inc. boosted its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 4.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,512,793 shares of the asset manager’s stock after acquiring an additional 107,086 shares during the period. American Century Companies Inc. owned 1.13% of T. Rowe Price Group worth $289,750,000 as of its most recent SEC filing.

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

Insider Buying and Selling

In related news, VP Dorothy C. Sawyer sold 2,000 shares of the company’s stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $117.00, for a total value of $234,000.00. Following the transaction, the vice president now owns 34,710 shares in the company, valued at approximately $4,061,070. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, VP Dorothy C. Sawyer sold 2,000 shares of the stock in a transaction that occurred 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 transaction, the vice president now owns 34,710 shares in the company, valued at approximately $4,061,070. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $102.83, for a total transaction of $1,230,772.27. Following the completion of the transaction, the vice president now owns 123,624 shares in the company, valued at approximately $12,712,255.92. The disclosure for this sale can be found here. Insiders have sold a total of 15,370 shares of company stock worth $1,627,078 in the last quarter. Corporate insiders own 2.00% of the company’s stock.

T. Rowe Price Group Trading Up 0.4 %

Shares of T. Rowe Price Group stock opened at $104.11 on Thursday. The company’s fifty day simple moving average is $110.02 and its two-hundred day simple moving average is $113.58. The company has a market cap of $23.17 billion, a P/E ratio of 12.36, a PEG ratio of 1.62 and a beta of 1.41. T. Rowe Price Group, Inc. has a 12-month low of $87.43 and a 12-month high of $122.27.

T. Rowe Price Group (NASDAQ:TROW) last released its earnings results on Friday, July 26th. The asset manager reported $2.26 earnings per share for the quarter, missing analysts’ consensus estimates of $2.27 by ($0.01). The business had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.79 billion. T. Rowe Price Group had a return on equity of 19.90% and a net margin of 28.66%. The firm’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same period in the prior year, the company earned $2.02 earnings per share. Analysts predict that T. Rowe Price Group, Inc. will post 9 EPS for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be paid a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a yield of 4.76%. The ex-dividend date is Friday, September 13th. T. Rowe Price Group’s payout ratio is 58.91%.

Analyst Upgrades and Downgrades

TROW has been the subject of a number of recent research reports. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $120.00 price objective (down from $121.00) on shares of T. Rowe Price Group in a report on Monday, July 29th. TD Cowen lowered 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 report on Monday, July 29th. JPMorgan Chase & Co. boosted 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 report on Tuesday, July 23rd. Deutsche Bank Aktiengesellschaft boosted 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 report on Thursday, August 15th. Finally, Barclays assumed coverage on shares of T. Rowe Price Group in a research note on Tuesday, August 27th. They issued an “underweight” rating and a $99.00 target price on the stock. Four equities research analysts have rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $113.20.

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.