Victory Capital Management Inc. Increases Stock Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Victory Capital Management Inc. raised its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 3.8% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,436,019 shares of the asset manager’s stock after purchasing an additional 124,686 shares during the quarter. Victory Capital Management Inc. owned approximately 1.54% of T. Rowe Price Group worth $396,207,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in TROW. Fisher Asset Management LLC boosted its position in shares of T. Rowe Price Group by 6.6% during the fourth quarter. Fisher Asset Management LLC now owns 1,751,405 shares of the asset manager’s stock valued at $188,609,000 after purchasing an additional 109,053 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of T. Rowe Price Group by 21.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,352,683 shares of the asset manager’s stock valued at $145,685,000 after buying an additional 236,697 shares in the last quarter. First Trust Advisors LP grew its position in shares of T. Rowe Price Group by 1.3% in the 4th quarter. First Trust Advisors LP now owns 1,173,858 shares of the asset manager’s stock worth $126,413,000 after buying an additional 15,504 shares during the period. Confluence Investment Management LLC bought a new position in shares of T. Rowe Price Group in the 1st quarter worth about $130,386,000. Finally, UBS Group AG lifted its position in T. Rowe Price Group by 473.3% during the 4th quarter. UBS Group AG now owns 975,226 shares of the asset manager’s stock valued at $105,022,000 after acquiring an additional 805,106 shares during the period. 73.39% of the stock is currently owned by institutional investors.

T. Rowe Price Group Stock Down 0.5 %

Shares of TROW stock opened at $104.12 on Friday. The firm has a market capitalization of $23.25 billion, a PE ratio of 12.37, a P/E/G ratio of 1.69 and a beta of 1.41. The company has a 50 day moving average price of $110.95 and a 200-day moving average price of $113.74. T. Rowe Price Group, Inc. has a 52 week low of $87.43 and a 52 week high of $122.27.

T. Rowe Price Group (NASDAQ:TROW) last announced its 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). The company had revenue of $1.73 billion for the quarter, compared to analysts’ expectations 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 quarterly revenue was up 7.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.02 earnings per share. Analysts anticipate that T. Rowe Price Group, Inc. will post 9 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be paid 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 dividend payout ratio is currently 58.91%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on TROW shares. Deutsche Bank Aktiengesellschaft raised their target price on shares of 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. StockNews.com lowered T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $120.00 target price (down from $121.00) on shares of T. Rowe Price Group in a report on Monday, July 29th. JPMorgan Chase & Co. increased their target price on T. Rowe Price Group from $102.00 to $107.00 and gave the stock an “underweight” rating in a research note on Tuesday, July 23rd. Finally, TD Cowen lowered their price target on 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. Four research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $113.20.

Insider Activity

In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 1,401 shares of the company’s 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 sale, the insider now directly owns 14,198 shares of the company’s stock, valued at $1,644,838.30. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 1,401 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at $1,644,838.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Dorothy C. Sawyer sold 2,000 shares of the firm’s stock in a transaction dated 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 transaction, the vice president now directly owns 34,710 shares in the company, valued at approximately $4,061,070. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

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.