OV Management LLC Has $1.39 Million Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

OV Management LLC grew its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 1.4% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 12,070 shares of the asset manager’s stock after buying an additional 170 shares during the quarter. OV Management LLC’s holdings in T. Rowe Price Group were worth $1,392,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of TROW. Lynx Investment Advisory bought a new stake in shares of T. Rowe Price Group during the 2nd quarter valued at $29,000. Family Firm Inc. acquired a new stake in shares of T. Rowe Price Group in the 2nd quarter valued at approximately $36,000. Versant Capital Management Inc grew its holdings in T. Rowe Price Group by 660.5% during the second 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 during the period. EverSource Wealth Advisors LLC increased its stake in T. Rowe Price Group by 93.6% in the first quarter. EverSource Wealth Advisors LLC now owns 331 shares of the asset manager’s stock valued at $40,000 after purchasing an additional 160 shares in the last quarter. Finally, Riverview Trust Co raised its holdings in T. Rowe Price Group by 136.4% in the second quarter. Riverview Trust Co now owns 357 shares of the asset manager’s stock worth $41,000 after purchasing an additional 206 shares during the period. 73.39% of the stock is currently owned by institutional investors and hedge funds.

T. Rowe Price Group Stock Down 0.3 %

Shares of TROW stock opened at $104.56 on Friday. T. Rowe Price Group, Inc. has a 12 month low of $87.43 and a 12 month high of $122.27. The company’s fifty day simple moving average is $109.60 and its 200-day simple moving average is $113.48. The firm has a market cap of $23.35 billion, a PE ratio of 12.42, a P/E/G ratio of 1.66 and a beta of 1.41.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings results on Friday, July 26th. The asset manager reported $2.26 EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $1.79 billion. During the same period last year, the firm earned $2.02 earnings per share. The company’s quarterly revenue was up 7.6% compared to the same quarter last year. On average, equities analysts predict that T. Rowe Price Group, Inc. will post 9 earnings per share for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be given a dividend of $1.24 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $4.96 annualized dividend and a yield of 4.74%. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 58.91%.

Insider Buying and Selling at T. Rowe Price Group

In other news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the company’s 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 sale, the vice president now owns 123,624 shares in the company, valued at approximately $12,712,255.92. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the business’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $102.83, for a total transaction of $1,230,772.27. Following the transaction, the vice president now directly owns 123,624 shares in the company, valued at approximately $12,712,255.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 transaction of $234,000.00. Following the completion of the sale, the vice president now directly owns 34,710 shares in the company, valued at $4,061,070. The disclosure for this sale can be found here. Insiders sold a total of 15,370 shares of company stock worth $1,627,078 over the last ninety days. 2.00% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on TROW shares. Barclays started coverage on shares of T. Rowe Price Group in a report on Tuesday, August 27th. They issued an “underweight” rating and a $99.00 price target for the company. TD Cowen decreased their target price on 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. JPMorgan Chase & Co. raised their price target on T. Rowe Price Group from $102.00 to $107.00 and gave the stock an “underweight” rating in a research report on Tuesday, July 23rd. Evercore ISI decreased their price objective on T. Rowe Price Group from $115.00 to $108.00 and set an “in-line” rating for the company in a research report on Thursday, September 5th. Finally, StockNews.com cut T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Three equities research analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. According to MarketBeat, T. Rowe Price Group has a consensus rating of “Hold” and an average target price of $113.30.

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.