11,595 Shares in T. Rowe Price Group, Inc. (NASDAQ:TROW) Purchased by M&G Plc

M&G Plc acquired a new stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 11,595 shares of the asset manager’s stock, valued at approximately $1,333,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in TROW. Lynx Investment Advisory acquired a new position in T. Rowe Price Group in the 2nd quarter worth approximately $29,000. First United Bank & Trust acquired a new position in T. Rowe Price Group during the fourth quarter valued at $31,000. Versant Capital Management Inc lifted its stake in 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 worth $38,000 after acquiring an additional 284 shares in the last quarter. Signature Resources Capital Management LLC acquired a new stake in T. Rowe Price Group during the 4th quarter worth about $39,000. Finally, EverSource Wealth Advisors LLC grew its stake in T. Rowe Price Group by 93.6% during 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. 73.39% of the stock is currently owned by institutional investors and hedge funds.

T. Rowe Price Group Stock Performance

Shares of TROW traded up $0.79 during trading hours on Tuesday, hitting $105.43. 689,097 shares of the company were exchanged, compared to its average volume of 1,302,898. The company has a market cap of $23.47 billion, a PE ratio of 12.43, a PEG ratio of 1.63 and a beta of 1.42. The firm’s 50 day moving average is $114.39 and its 200-day moving average is $114.02. 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 posted its earnings results 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 net margin of 28.66% and a return on equity of 19.90%. The firm had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.79 billion. During the same quarter in the previous year, the business posted $2.02 earnings per share. The business’s quarterly revenue was up 7.6% compared to the same quarter last year. As a group, equities analysts forecast that T. Rowe Price Group, Inc. will post 8.98 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be given a $1.24 dividend. The ex-dividend date is Friday, September 13th. This represents a $4.96 annualized dividend and a yield of 4.70%. T. Rowe Price Group’s dividend payout ratio (DPR) is currently 58.91%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on TROW. TD Cowen reduced their price target 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. Evercore ISI decreased their target price on shares of T. Rowe Price Group from $110.00 to $107.00 and set an “in-line” rating for the company in a research note on Tuesday, April 30th. JPMorgan Chase & Co. upped their price target on shares of 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. StockNews.com lowered T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on T. Rowe Price Group from $122.00 to $112.00 and set a “hold” rating on the stock in a research note on Monday, July 29th. Three analysts have rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. According to data from MarketBeat, T. Rowe Price Group presently has a consensus rating of “Hold” and a consensus price target of $114.56.

Insiders Place Their Bets

In other news, insider Jessica M. Hiebler sold 1,401 shares of the firm’s stock in a transaction dated 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 directly owns 14,198 shares of the company’s stock, valued at approximately $1,644,838.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 transaction, the vice president now owns 34,710 shares of the company’s stock, valued at approximately $4,061,070. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Jessica M. Hiebler sold 1,401 shares of T. Rowe Price Group stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $115.85, for a total value 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 disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

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.