T. Rowe Price Group, Inc. (NASDAQ:TROW) Shares Acquired by Meeder Advisory Services Inc.

Meeder Advisory Services Inc. raised its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 28.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,106 shares of the asset manager’s stock after buying an additional 680 shares during the period. Meeder Advisory Services Inc.’s holdings in T. Rowe Price Group were worth $358,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Principal Securities Inc. purchased a new position in T. Rowe Price Group in the fourth quarter valued at about $53,000. Great Lakes Advisors LLC grew its position in shares of T. Rowe Price Group by 150.6% during the fourth quarter. Great Lakes Advisors LLC now owns 57,480 shares of the asset manager’s stock worth $6,190,000 after buying an additional 34,546 shares in the last quarter. Norges Bank bought a new stake in shares of T. Rowe Price Group in the fourth quarter worth $80,831,000. UBS Group AG raised its holdings in T. Rowe Price Group by 473.3% in the fourth quarter. UBS Group AG now owns 975,226 shares of the asset manager’s stock valued at $105,022,000 after acquiring an additional 805,106 shares in the last quarter. Finally, Sachetta LLC bought a new position in T. Rowe Price Group during the 4th quarter valued at $198,000. 73.39% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

TROW has been the subject of several research analyst reports. JPMorgan Chase & Co. boosted their target price on shares of T. Rowe Price Group from $102.00 to $107.00 and gave the stock an “underweight” rating in a research report on Tuesday, July 23rd. Wells Fargo & Company began coverage on T. Rowe Price Group in a research note on Thursday. They set an “equal weight” rating and a $109.00 price objective on the stock. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued 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. Deutsche Bank Aktiengesellschaft upped their price target on T. Rowe Price Group from $112.00 to $113.00 and gave the company a “hold” rating in a research report on Thursday, August 15th. Finally, Evercore ISI reduced their price objective on T. Rowe Price Group from $115.00 to $108.00 and set an “in-line” rating on the stock in a research note on Thursday, September 5th. Three research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. According to MarketBeat, T. Rowe Price Group has an average rating of “Hold” and a consensus price target of $113.30.

Insider Activity at T. Rowe Price Group

In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the company’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $102.83, for a total transaction of $1,230,772.27. Following the completion of the sale, the vice president now directly owns 123,624 shares of the company’s stock, valued at $12,712,255.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, VP Dorothy C. Sawyer sold 2,000 shares of the company’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 of the company’s stock, valued at $4,061,070. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the stock in a transaction dated 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 completion of 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. Insiders sold 15,370 shares of company stock worth $1,627,078 in the last quarter. 2.00% of the stock is owned by company insiders.

T. Rowe Price Group Stock Down 0.3 %

T. Rowe Price Group stock opened at $104.56 on Monday. The firm has a 50-day moving average price of $109.60 and a two-hundred day moving average price of $113.51. T. Rowe Price Group, Inc. has a 52-week low of $87.43 and a 52-week high of $122.27. The firm has a market capitalization of $23.28 billion, a price-to-earnings ratio of 12.42, a PEG ratio of 1.67 and a beta of 1.41.

T. Rowe Price Group (NASDAQ:TROW) last announced 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 business had revenue of $1.73 billion during 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 business’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same period in the prior year, the firm earned $2.02 EPS. Research analysts expect that T. Rowe Price Group, Inc. will post 9 earnings per share for the current year.

T. Rowe Price Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be given a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a dividend yield of 4.74%. The ex-dividend date of this dividend is Friday, September 13th. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 58.91%.

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.