Corient Private Wealth LP Buys Shares of 131,420 T. Rowe Price Group, Inc. $TROW

Corient Private Wealth LP bought a new position in T. Rowe Price Group, Inc. (NASDAQ:TROW) in the 2nd quarter, Holdings Channel reports. The firm bought 131,420 shares of the asset manager’s stock, valued at approximately $14,941,000.

Several other hedge funds have also made changes to their positions in the company. Wealthcare Capital Partners LLC raised its holdings in shares of T. Rowe Price Group by 1.0% in the second quarter. Wealthcare Capital Partners LLC now owns 9,565 shares of the asset manager’s stock valued at $1,087,000 after acquiring an additional 93 shares in the last quarter. Kesler Norman & Wride LLC grew its holdings in T. Rowe Price Group by 0.6% during the 2nd 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 grew its holdings in T. Rowe Price Group by 9.4% during the 2nd 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 increased its position in T. Rowe Price Group by 0.4% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 25,062 shares of the asset manager’s stock valued at $2,259,000 after purchasing an additional 100 shares during the period. Finally, Concorde Asset Management LLC increased its position in T. Rowe Price Group by 3.9% during the 1st quarter. Concorde Asset Management LLC now owns 2,730 shares of the asset manager’s stock valued at $246,000 after purchasing an additional 102 shares during the period. 73.39% of the stock is currently owned by hedge funds and other institutional investors.

T. Rowe Price Group Stock Performance

TROW stock opened at $111.24 on Friday. T. Rowe Price Group, Inc. has a one year low of $85.22 and a one year high of $122.00. The firm has a market cap of $23.73 billion, a price-to-earnings ratio of 11.16, a PEG ratio of 3.68 and a beta of 1.47. The firm has a 50-day simple moving average of $114.35 and a two-hundred day simple moving average of $103.34.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings data on Friday, July 31st. The asset manager reported $2.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.52 by $0.05. The firm had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.89 billion. T. Rowe Price Group had a net margin of 29.26% and a return on equity of 20.91%. The company’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.24 EPS. As a group, equities analysts predict that T. Rowe Price Group, Inc. will post 10.15 earnings per share for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 15th will be paid a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 4.7%. The ex-dividend date is Tuesday, September 15th. T. Rowe Price Group’s dividend payout ratio (DPR) is 52.16%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on TROW shares. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $115.00 price target (down from $120.00) on shares of T. Rowe Price Group in a research report on Monday, August 3rd. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $109.00 price objective on shares of T. Rowe Price Group in a research note on Monday, August 3rd. Zacks Research lowered T. Rowe Price Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 13th. Evercore set a $118.00 target price on T. Rowe Price Group in a research report on Monday, August 10th. Finally, Morgan Stanley set a $116.00 price target on T. Rowe Price Group in a report on Wednesday, July 29th. Ten investment analysts have rated the stock with a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Reduce” and a consensus price target of $105.67.

Insider Transactions at T. Rowe Price Group

In other T. Rowe Price Group news, VP Joshua B. Nelson sold 10,000 shares of T. Rowe Price Group stock in a transaction on 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 directly owned 71,328 shares of the company’s stock, valued at approximately $7,975,896.96. The trade was a 12.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.60% of the company’s stock.

T. Rowe Price Group Profile

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.