DNB Asset Management AS Buys 3,112 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

DNB Asset Management AS lifted its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 8.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 38,614 shares of the asset manager’s stock after acquiring an additional 3,112 shares during the quarter. DNB Asset Management AS’s holdings in T. Rowe Price Group were worth $4,453,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in TROW. First United Bank & Trust purchased a new stake in shares of T. Rowe Price Group during the 4th quarter worth approximately $31,000. Park Place Capital Corp raised its holdings in shares of 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 worth $32,000 after acquiring an additional 284 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in shares of 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 purchasing an additional 160 shares during the last quarter. Signature Resources Capital Management LLC bought a new position in shares of T. Rowe Price Group during the 4th quarter valued at approximately $39,000. Finally, Scarborough Advisors LLC bought a new position in shares of T. Rowe Price Group during the 4th quarter valued at approximately $47,000. 73.39% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on TROW. Morgan Stanley boosted their target price on T. Rowe Price Group from $114.00 to $125.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 17th. Evercore ISI cut their target price on T. Rowe Price Group from $110.00 to $107.00 and set an “in-line” rating on the stock in a research report on Tuesday, April 30th. Deutsche Bank Aktiengesellschaft cut 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 report on Monday, July 29th. JPMorgan Chase & Co. boosted their target price on T. Rowe Price Group from $102.00 to $107.00 and gave the company an “underweight” rating in a research report on Tuesday, July 23rd. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and set a $120.00 target price (down previously from $121.00) on shares of T. Rowe Price Group in a research report on Monday, July 29th. Three equities research analysts have rated the stock with a sell rating and seven have issued a hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $114.56.

Insider Buying and Selling at T. Rowe Price Group

In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 1,401 shares of the stock in a transaction dated Thursday, June 27th. The stock was 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 in the company, valued at $1,644,838.30. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, insider Jessica M. Hiebler sold 1,401 shares of the firm’s stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $115.85, for a total value of $162,305.85. Following the completion of the transaction, the insider now directly owns 14,198 shares in the company, valued at $1,644,838.30. The sale was disclosed in a document filed with the SEC, which is available at 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 owns 34,710 shares of the company’s stock, valued at $4,061,070. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by company insiders.

T. Rowe Price Group Trading Up 0.7 %

TROW opened at $103.89 on Wednesday. The company has a market capitalization of $23.13 billion, a price-to-earnings ratio of 12.34, a PEG ratio of 1.65 and a beta of 1.42. T. Rowe Price Group, Inc. has a 12-month low of $87.43 and a 12-month high of $122.27. The business’s fifty day simple moving average is $115.34 and its 200-day simple moving average is $114.19.

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 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 return on equity of 19.90% and a net margin of 28.66%. The company’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same quarter last year, the company earned $2.02 earnings per share. On average, equities research analysts predict that T. Rowe Price Group, Inc. will post 8.98 EPS for the current year.

T. Rowe Price Group Announces Dividend

The firm 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 $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a yield of 4.77%. The ex-dividend date of this dividend is Friday, September 13th. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 58.91%.

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.