T. Rowe Price Group, Inc. (NASDAQ:TROW) Shares Purchased by Creative Planning

Creative Planning boosted its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 5.4% in the 2nd quarter, Holdings Channel reports. The firm owned 55,147 shares of the asset manager’s stock after purchasing an additional 2,827 shares during the period. Creative Planning’s holdings in T. Rowe Price Group were worth $6,359,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Susquehanna Fundamental Investments LLC acquired a new position in shares of T. Rowe Price Group in the second quarter worth $15,907,000. Security National Bank of SO Dak grew its stake in shares of T. Rowe Price Group by 1.9% in the second quarter. Security National Bank of SO Dak now owns 14,557 shares of the asset manager’s stock worth $1,679,000 after acquiring an additional 270 shares in the last quarter. Scientech Research LLC acquired a new position in shares of T. Rowe Price Group in the second quarter worth $1,952,000. Mackenzie Financial Corp grew its stake in shares of T. Rowe Price Group by 19.2% in the second quarter. Mackenzie Financial Corp now owns 30,085 shares of the asset manager’s stock worth $3,469,000 after acquiring an additional 4,841 shares in the last quarter. Finally, MBB Public Markets I LLC acquired a new position in shares of T. Rowe Price Group in the second quarter worth $1,822,000. Institutional investors and hedge funds own 73.39% of the company’s stock.

Insider Activity

In other news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the company’s stock in a transaction dated Friday, September 6th. The shares were 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 of the company’s stock, valued at $12,712,255.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 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 $12,712,255.92. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jessica M. Hiebler sold 484 shares of the business’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $104.73, for a total transaction of $50,689.32. Following the transaction, the insider now owns 13,939 shares in the company, valued at $1,459,831.47. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

T. Rowe Price Group Price Performance

Shares of TROW opened at $107.34 on Thursday. T. Rowe Price Group, Inc. has a 1-year low of $87.43 and a 1-year high of $122.27. The stock has a market cap of $23.97 billion, a PE ratio of 12.75, a price-to-earnings-growth ratio of 1.75 and a beta of 1.41. The firm has a fifty day moving average price of $107.42 and a 200 day moving average price of $112.81.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly 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). 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 during the quarter, compared to analysts’ expectations of $1.79 billion. During the same period last year, the firm earned $2.02 earnings per share. T. Rowe Price Group’s revenue was up 7.6% on a year-over-year basis. As a group, equities analysts expect that T. Rowe Price Group, Inc. will post 8.96 EPS for the current fiscal year.

T. Rowe Price Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were issued a $1.24 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 4.62%. T. Rowe Price Group’s payout ratio is 58.91%.

Analysts Set New Price Targets

Several equities analysts have commented on TROW shares. StockNews.com downgraded shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $120.00 price objective (down from $121.00) on shares of T. Rowe Price Group in a research report on Monday, July 29th. TD Cowen decreased 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 research report on Monday, July 29th. JPMorgan Chase & Co. lifted 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 report on Tuesday, July 23rd. Finally, Barclays began coverage on shares of T. Rowe Price Group in a research report on Tuesday, August 27th. They set an “underweight” rating and a $99.00 price objective for the company. Three 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 a consensus target price of $113.30.

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.