GAMMA Investing LLC Increases Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

GAMMA Investing LLC increased its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 70.7% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,057 shares of the asset manager’s stock after purchasing an additional 1,266 shares during the period. GAMMA Investing LLC’s holdings in T. Rowe Price Group were worth $353,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Private Trust Co. NA boosted its holdings in shares of T. Rowe Price Group by 4.0% in the fourth quarter. Private Trust Co. NA now owns 4,122 shares of the asset manager’s stock valued at $444,000 after acquiring an additional 158 shares in the last quarter. International Assets Investment Management LLC increased its position in shares of T. Rowe Price Group by 8,968.6% in the fourth quarter. International Assets Investment Management LLC now owns 902,146 shares of the asset manager’s stock worth $97,152,000 after acquiring an additional 892,198 shares in the last quarter. Park Place Capital Corp grew its holdings in T. Rowe Price Group by 1,775.0% during the 4th quarter. Park Place Capital Corp now owns 300 shares of the asset manager’s stock valued at $32,000 after purchasing an additional 284 shares in the last quarter. Prime Capital Investment Advisors LLC grew its holdings in T. Rowe Price Group by 5.5% during the 4th quarter. Prime Capital Investment Advisors LLC now owns 10,433 shares of the asset manager’s stock valued at $1,123,000 after purchasing an additional 541 shares in the last quarter. Finally, Stratos Wealth Advisors LLC boosted its stake in T. Rowe Price Group by 5.0% during the 4th quarter. Stratos Wealth Advisors LLC now owns 4,527 shares of the asset manager’s stock valued at $488,000 after acquiring an additional 217 shares during the last quarter. Hedge funds and other institutional investors own 73.39% of the company’s stock.

T. Rowe Price Group Stock Down 3.2 %

Shares of TROW stock traded down $3.36 during mid-day trading on Monday, reaching $103.11. 1,904,651 shares of the stock traded hands, compared to its average volume of 1,314,086. The stock’s fifty day simple moving average is $115.89 and its two-hundred day simple moving average is $114.25. T. Rowe Price Group, Inc. has a 1-year low of $87.43 and a 1-year high of $122.27. The company has a market cap of $22.95 billion, a price-to-earnings ratio of 12.64, a price-to-earnings-growth ratio of 1.65 and a beta of 1.42.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings results on Friday, July 26th. The asset manager reported $2.26 EPS for the quarter, missing analysts’ consensus estimates of $2.27 by ($0.01). The firm had revenue of $1.73 billion for 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%. The business’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 business posted $2.02 earnings per share. On average, equities research analysts anticipate that T. Rowe Price Group, Inc. will post 8.98 EPS for the current fiscal year.

T. Rowe Price Group Dividend Announcement

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 paid a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a dividend yield of 4.81%. The ex-dividend date is Friday, September 13th. T. Rowe Price Group’s dividend payout ratio is currently 58.91%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on TROW shares. Deutsche Bank Aktiengesellschaft cut their price objective on shares of T. Rowe Price Group from $122.00 to $112.00 and set a “hold” rating on the stock in a research report on Monday, July 29th. TD Cowen reduced 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. UBS Group lifted their price target on shares of T. Rowe Price Group from $100.00 to $109.00 and gave the company a “sell” rating in a research report on Friday, April 12th. Morgan Stanley boosted their target price on shares of T. Rowe Price Group from $114.00 to $125.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 17th. Finally, JPMorgan Chase & Co. boosted their target price 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. Three 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.com, the stock presently has an average rating of “Hold” and an average target price of $114.56.

Insider Buying and Selling

In related news, VP Dorothy C. Sawyer sold 2,000 shares of T. Rowe Price Group stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $117.00, for a total value of $234,000.00. Following the transaction, the vice president now directly owns 34,710 shares of the company’s stock, valued at $4,061,070. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, insider Jessica M. Hiebler sold 1,401 shares of the business’s stock in a transaction that occurred on Thursday, June 27th. The stock was 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 owns 14,198 shares in the company, valued at $1,644,838.30. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, 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 value of $234,000.00. Following the sale, the vice president now owns 34,710 shares of the company’s stock, valued at approximately $4,061,070. The disclosure for this sale can be found here. 2.00% of the stock is owned by insiders.

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.