Daiwa Securities Group Inc. Purchases 2,411 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Daiwa Securities Group Inc. boosted its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 10.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,434 shares of the asset manager’s stock after purchasing an additional 2,411 shares during the period. Daiwa Securities Group Inc.’s holdings in T. Rowe Price Group were worth $2,817,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in TROW. Lynx Investment Advisory bought a new position in T. Rowe Price Group during the 2nd quarter worth about $29,000. Family Firm Inc. bought a new position in shares of T. Rowe Price Group in the 2nd quarter valued at about $36,000. Versant Capital Management Inc grew its holdings in shares of T. Rowe Price Group by 660.5% in the 2nd quarter. Versant Capital Management Inc now owns 327 shares of the asset manager’s stock valued at $38,000 after acquiring an additional 284 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of T. Rowe Price Group by 93.6% in the 1st quarter. EverSource Wealth Advisors LLC now owns 331 shares of the asset manager’s stock valued at $40,000 after acquiring an additional 160 shares in the last quarter. Finally, Riverview Trust Co grew its holdings in shares of T. Rowe Price Group by 136.4% in the 2nd quarter. Riverview Trust Co now owns 357 shares of the asset manager’s stock valued at $41,000 after acquiring an additional 206 shares in the last quarter. Institutional investors own 73.39% of the company’s stock.

T. Rowe Price Group Trading Down 0.3 %

T. Rowe Price Group 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 stock’s 50 day moving average is $109.60 and its 200-day moving average is $113.48. The company has a market capitalization of $23.35 billion, a price-to-earnings ratio of 12.42, a PEG ratio of 1.66 and a beta of 1.41.

T. Rowe Price Group (NASDAQ:TROW) last posted its 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). The firm had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.79 billion. T. Rowe Price Group had a net margin of 28.66% and a return on equity of 19.90%. T. Rowe Price Group’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same period in the previous year, the company posted $2.02 EPS. As a group, equities research analysts predict that T. Rowe Price Group, Inc. will post 9 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

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 paid a $1.24 dividend. This represents a $4.96 annualized dividend and a dividend yield of 4.74%. The ex-dividend date of this dividend is Friday, September 13th. T. Rowe Price Group’s dividend payout ratio (DPR) is currently 58.91%.

Insider Activity at T. Rowe Price Group

In related news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the business’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 value of $1,230,772.27. Following the completion of the sale, the vice president now directly owns 123,624 shares in the company, valued at $12,712,255.92. The sale was disclosed in a filing with the SEC, which is available at this link. In other T. Rowe Price Group news, VP Dorothy C. Sawyer sold 2,000 shares of the company’s stock in a transaction on Tuesday, June 18th. The stock was 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the company’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $102.83, for a total value of $1,230,772.27. Following the sale, the vice president now owns 123,624 shares of the company’s stock, valued at $12,712,255.92. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 15,370 shares of company stock worth $1,627,078. Company insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

TROW has been the subject of several analyst reports. JPMorgan Chase & Co. raised their price objective on T. Rowe Price Group from $102.00 to $107.00 and gave the company an “underweight” rating in a 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 report on Thursday, September 5th. Wells Fargo & Company started coverage on shares of T. Rowe Price Group in a research note on Thursday. They issued an “equal weight” rating and a $109.00 target price for the company. Barclays started 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 for the company. Finally, TD Cowen cut their target price 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. Three research analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $113.30.

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.