Sanctuary Advisors LLC Buys Shares of 14,668 T. Rowe Price Group, Inc. $TROW

Sanctuary Advisors LLC bought a new position in T. Rowe Price Group, Inc. (NASDAQ:TROW) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 14,668 shares of the asset manager’s stock, valued at approximately $1,668,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TROW. Wealthcare Capital Partners LLC increased its position in shares of T. Rowe Price Group by 1.0% in the 2nd quarter. Wealthcare Capital Partners LLC now owns 9,565 shares of the asset manager’s stock valued at $1,087,000 after buying an additional 93 shares in the last quarter. Kesler Norman & Wride LLC lifted its holdings in T. Rowe Price Group by 0.6% during the second quarter. Kesler Norman & Wride LLC now owns 15,914 shares of the asset manager’s stock worth $1,809,000 after acquiring an additional 96 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its holdings in T. Rowe Price Group by 9.4% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,150 shares of the asset manager’s stock worth $131,000 after acquiring an additional 99 shares in the last quarter. Oregon Public Employees Retirement Fund grew its stake in T. Rowe Price Group by 0.4% in the first quarter. Oregon Public Employees Retirement Fund now owns 25,062 shares of the asset manager’s stock valued at $2,259,000 after acquiring an additional 100 shares during the period. Finally, Concorde Asset Management LLC grew its stake in T. Rowe Price Group by 3.9% in the first quarter. Concorde Asset Management LLC now owns 2,730 shares of the asset manager’s stock valued at $246,000 after acquiring an additional 102 shares during the period. 73.39% of the stock is owned by institutional investors.

Insider Activity at T. Rowe Price Group

In related news, VP Joshua B. Nelson sold 10,000 shares of the company’s stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $111.82, for a total value of $1,118,200.00. Following the transaction, the vice president owned 71,328 shares in the company, valued at approximately $7,975,896.96. This represents a 12.30% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.60% of the company’s stock.

T. Rowe Price Group Trading Down 0.3%

Shares of NASDAQ TROW opened at $112.55 on Thursday. The company has a market capitalization of $24.01 billion, a P/E ratio of 11.29, a P/E/G ratio of 3.74 and a beta of 1.47. T. Rowe Price Group, Inc. has a 12 month low of $85.22 and a 12 month high of $122.00. The stock has a 50 day moving average of $114.18 and a 200-day moving average of $103.16.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings results on Friday, July 31st. The asset manager reported $2.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.52 by $0.05. T. Rowe Price Group had a return on equity of 20.91% and a net margin of 29.26%.The business had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.89 billion. During the same quarter last year, the firm posted $2.24 EPS. The company’s quarterly revenue was up 10.7% on a year-over-year basis. Analysts predict that T. Rowe Price Group, Inc. will post 10.15 EPS for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 15th will be paid a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date is Tuesday, September 15th. T. Rowe Price Group’s dividend payout ratio (DPR) is currently 52.16%.

Analyst Ratings Changes

A number of research firms have recently commented on TROW. Zacks Research lowered T. Rowe Price Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 13th. Weiss Ratings raised T. Rowe Price Group from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, July 2nd. Keefe, Bruyette & Woods restated a “market perform” rating and set a $115.00 price objective (down from $120.00) on shares of T. Rowe Price Group in a research note on Monday, August 3rd. TD Cowen raised their target price on shares of T. Rowe Price Group from $107.00 to $108.00 and gave the company a “hold” rating in a research note on Monday, August 3rd. Finally, The Goldman Sachs Group increased their price target on shares of T. Rowe Price Group from $90.00 to $92.00 and gave the company a “sell” rating in a research note on Tuesday, June 30th. Ten research analysts have rated the stock with a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average price target of $105.67.

About T. Rowe Price Group

T. Rowe Price Group, Inc is a global investment management firm headquartered in Baltimore, Maryland, founded by Thomas Rowe Price Jr. in 1937. The company provides a broad range of investment products and services for individual investors, financial intermediaries, retirement plan sponsors and institutional clients. Its offerings are built around active investment management and in-house research across equity, fixed income and multi-asset strategies, reflecting a long history as a research-driven asset manager.

The firm’s product lineup includes mutual funds, separate accounts, collective investment trusts, target-date and target-risk funds, and managed account solutions, as well as services for defined contribution and defined benefit retirement plans.