T. Rowe Price Group, Inc. (NASDAQ:TROW) Shares Bought by Columbia Asset Management

Columbia Asset Management boosted its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 246.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,824 shares of the asset manager’s stock after purchasing an additional 6,279 shares during the quarter. Columbia Asset Management’s holdings in T. Rowe Price Group were worth $1,017,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. National Bank of Canada FI grew its stake in T. Rowe Price Group by 20.5% in the 2nd quarter. National Bank of Canada FI now owns 162,748 shares of the asset manager’s stock valued at $18,521,000 after acquiring an additional 27,716 shares during the period. Foster & Motley Inc. grew its position in shares of T. Rowe Price Group by 118.3% in the second quarter. Foster & Motley Inc. now owns 5,117 shares of the asset manager’s stock valued at $590,000 after purchasing an additional 2,773 shares during the period. Impact Partnership Wealth LLC increased its stake in shares of T. Rowe Price Group by 85.0% during the second quarter. Impact Partnership Wealth LLC now owns 8,748 shares of the asset manager’s stock worth $1,009,000 after purchasing an additional 4,020 shares in the last quarter. Deseret Mutual Benefit Administrators raised its position in shares of T. Rowe Price Group by 7.7% during the 2nd quarter. Deseret Mutual Benefit Administrators now owns 2,751 shares of the asset manager’s stock worth $317,000 after purchasing an additional 197 shares during the last quarter. Finally, Mayflower Financial Advisors LLC lifted its stake in T. Rowe Price Group by 3.8% in the 2nd quarter. Mayflower Financial Advisors LLC now owns 5,530 shares of the asset manager’s stock valued at $638,000 after buying an additional 204 shares in the last quarter. 73.39% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, VP Dorothy C. Sawyer sold 2,000 shares of T. Rowe Price Group 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 completion of the sale, the vice president now directly owns 34,710 shares of the company’s stock, valued at $4,061,070. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, VP Dorothy C. Sawyer sold 2,000 shares of the 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 sale, the vice president now owns 34,710 shares of the company’s stock, valued at $4,061,070. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jessica M. Hiebler sold 1,401 shares of T. Rowe Price Group stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $115.85, for a total transaction of $162,305.85. Following the completion of the transaction, the insider now owns 14,198 shares of the company’s stock, valued at approximately $1,644,838.30. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. StockNews.com lowered T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Deutsche Bank Aktiengesellschaft increased their price objective on T. Rowe Price Group from $112.00 to $113.00 and gave the company a “hold” rating in a research note on Thursday, August 15th. Barclays initiated coverage on shares of T. Rowe Price Group in a research note on Tuesday, August 27th. They set an “underweight” rating and a $99.00 target price on the stock. 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 report on Monday, July 29th. Finally, Evercore ISI lowered their price target on shares of T. Rowe Price Group from $115.00 to $108.00 and set an “in-line” rating on the stock in a research report on Thursday. Four research analysts have rated the stock with a sell rating and seven have given a hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $113.20.

T. Rowe Price Group Stock Performance

TROW stock opened at $104.12 on Friday. T. Rowe Price Group, Inc. has a one year low of $87.43 and a one year high of $122.27. The firm has a market cap of $23.25 billion, a PE ratio of 12.37, a PEG ratio of 1.69 and a beta of 1.41. The firm’s 50 day moving average price is $110.95 and its 200-day moving average price is $113.74.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings data on Friday, July 26th. The asset manager reported $2.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $1.79 billion. During the same period in the previous year, the business posted $2.02 earnings per share. The firm’s revenue for the quarter was up 7.6% compared to the same quarter last year. Equities research analysts predict that T. Rowe Price Group, Inc. will post 9 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 given a dividend of $1.24 per share. The ex-dividend date is Friday, September 13th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 4.76%. T. Rowe Price Group’s payout ratio is currently 58.91%.

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.