DekaBank Deutsche Girozentrale Buys 18,949 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

DekaBank Deutsche Girozentrale lifted its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 18.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 119,032 shares of the asset manager’s stock after buying an additional 18,949 shares during the period. DekaBank Deutsche Girozentrale owned about 0.05% of T. Rowe Price Group worth $13,697,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Lynx Investment Advisory acquired a new stake in shares of T. Rowe Price Group during the 2nd quarter worth approximately $29,000. Family Firm Inc. acquired a new stake in T. Rowe Price Group during the second quarter worth $36,000. Versant Capital Management Inc increased its holdings 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 valued at $38,000 after buying an additional 284 shares during the period. EverSource Wealth Advisors LLC raised its stake in shares of T. Rowe Price Group by 93.6% in the 1st quarter. EverSource Wealth Advisors LLC now owns 331 shares of the asset manager’s stock valued at $40,000 after buying an additional 160 shares in the last quarter. Finally, Riverview Trust Co lifted its holdings in shares of T. Rowe Price Group by 136.4% during the 2nd quarter. Riverview Trust Co now owns 357 shares of the asset manager’s stock worth $41,000 after acquiring an additional 206 shares during the period. 73.39% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on TROW. Deutsche Bank Aktiengesellschaft upped their target price on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the company a “hold” rating in a research note on Thursday, August 15th. JPMorgan Chase & Co. increased their target price on T. Rowe Price Group from $102.00 to $107.00 and gave the stock an “underweight” rating in a report on Tuesday, July 23rd. StockNews.com lowered T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Evercore ISI dropped their price objective on T. Rowe Price Group from $115.00 to $108.00 and set an “in-line” rating for the company in a research note on Thursday, September 5th. Finally, Wells Fargo & Company began coverage on shares of T. Rowe Price Group in a research note on Thursday. They issued an “equal weight” rating and a $109.00 target price on the stock. Three analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $113.30.

T. Rowe Price Group Trading Down 0.3 %

Shares of NASDAQ TROW opened at $104.56 on Monday. T. Rowe Price Group, Inc. has a 1-year low of $87.43 and a 1-year high of $122.27. The company has a 50-day moving average of $109.60 and a two-hundred day moving average of $113.51. The company has a market cap of $23.28 billion, a PE ratio of 12.42, a P/E/G ratio of 1.67 and a beta of 1.41.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings data on Friday, July 26th. The asset manager reported $2.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.27 by ($0.01). The firm had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.79 billion. T. Rowe Price Group had a return on equity of 19.90% and a net margin of 28.66%. The firm’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same period in the prior year, the company posted $2.02 EPS. As a group, equities research analysts forecast that T. Rowe Price Group, Inc. will post 9 earnings per share for the current year.

T. Rowe Price Group Dividend Announcement

The company also recently disclosed 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 dividend on an annualized basis and a yield of 4.74%. T. Rowe Price Group’s payout ratio is 58.91%.

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 value of $162,305.85. Following the transaction, 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Jessica M. Hiebler sold 1,401 shares of the stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $115.85, for a total value of $162,305.85. Following the transaction, the insider now owns 14,198 shares of the company’s stock, valued at approximately $1,644,838.30. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of T. Rowe Price Group stock in a transaction on Friday, September 6th. The stock was sold at an average price of $102.83, for a total value of $1,230,772.27. Following the sale, the vice president now directly owns 123,624 shares of the company’s stock, valued at $12,712,255.92. The disclosure for this sale can be found here. In the last three months, insiders sold 15,370 shares of company stock valued at $1,627,078. 2.00% of the stock is currently owned by insiders.

T. Rowe Price Group Profile

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.