MCF Advisors LLC Buys 136 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

MCF Advisors LLC boosted its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 2.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,089 shares of the asset manager’s stock after buying an additional 136 shares during the quarter. MCF Advisors LLC’s holdings in T. Rowe Price Group were worth $702,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently added to or reduced their stakes in the company. Columbia Asset Management increased its position in shares of T. Rowe Price Group by 246.7% in the second quarter. Columbia Asset Management now owns 8,824 shares of the asset manager’s stock valued at $1,017,000 after acquiring an additional 6,279 shares during the period. National Bank of Canada FI raised its holdings in T. Rowe Price Group by 20.5% in the second quarter. National Bank of Canada FI now owns 162,748 shares of the asset manager’s stock worth $18,521,000 after purchasing an additional 27,716 shares in the last quarter. Foster & Motley Inc. lifted its position in T. Rowe Price Group by 118.3% during the 2nd quarter. Foster & Motley Inc. now owns 5,117 shares of the asset manager’s stock valued at $590,000 after acquiring an additional 2,773 shares during the period. Impact Partnership Wealth LLC lifted its holdings 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 valued at $1,009,000 after purchasing an additional 4,020 shares during the last quarter. Finally, Deseret Mutual Benefit Administrators raised its stake in T. Rowe Price Group by 7.7% during the second quarter. Deseret Mutual Benefit Administrators now owns 2,751 shares of the asset manager’s stock valued at $317,000 after buying an additional 197 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 0.5 %

TROW opened at $104.12 on Friday. The business has a fifty day moving average of $110.95 and a 200 day moving average of $113.74. The stock has a market cap of $23.25 billion, a P/E ratio of 12.37, a PEG ratio of 1.69 and a beta of 1.41. 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 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). T. Rowe Price Group had a return on equity of 19.90% and a net margin of 28.66%. The company had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.79 billion. During the same quarter in the previous year, the company posted $2.02 earnings per share. The company’s revenue for the quarter was up 7.6% on a year-over-year basis. Equities analysts anticipate that T. Rowe Price Group, Inc. will post 9 EPS for the current fiscal year.

T. Rowe Price Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be paid a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a dividend yield of 4.76%. The ex-dividend date of this dividend is Friday, September 13th. T. Rowe Price Group’s dividend payout ratio is presently 58.91%.

Wall Street Analyst Weigh In

TROW has been the subject of several recent analyst reports. Keefe, Bruyette & Woods reaffirmed 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. Evercore ISI decreased 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. StockNews.com cut T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. TD Cowen lowered their target price on shares of T. Rowe Price Group from $123.00 to $118.00 and set a “hold” rating on the stock in a research note on Monday, July 29th. Finally, Barclays began coverage on T. Rowe Price Group in a report on Tuesday, August 27th. They issued an “underweight” rating and a $99.00 price target on the stock. Four equities research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $113.20.

Insider Activity at T. Rowe Price Group

In other T. Rowe Price Group news, VP Dorothy C. Sawyer sold 2,000 shares of the firm’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 directly owns 34,710 shares in the company, valued at approximately $4,061,070. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other 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 value of $162,305.85. Following the completion of the sale, the insider now owns 14,198 shares of the company’s stock, valued at approximately $1,644,838.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Dorothy C. Sawyer sold 2,000 shares of the stock in a transaction that occurred on Tuesday, June 18th. The shares were 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 in the company, valued at $4,061,070. The disclosure for this sale can be found here. 2.00% of the stock is owned by company insiders.

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.