T. Rowe Price Group, Inc. (NASDAQ:TROW) Shares Purchased by Sprucegrove Investment Management Ltd.

Sprucegrove Investment Management Ltd. grew its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 1.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 226,602 shares of the asset manager’s stock after purchasing an additional 3,300 shares during the period. T. Rowe Price Group makes up about 1.4% of Sprucegrove Investment Management Ltd.’s holdings, making the stock its 12th biggest position. Sprucegrove Investment Management Ltd. owned approximately 0.10% of T. Rowe Price Group worth $26,129,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Massmutual Trust Co. FSB ADV boosted its stake in shares of T. Rowe Price Group by 7.5% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 1,236 shares of the asset manager’s stock worth $151,000 after acquiring an additional 86 shares in the last quarter. ST Germain D J Co. Inc. boosted its stake in shares of T. Rowe Price Group by 0.3% during the 1st quarter. ST Germain D J Co. Inc. now owns 31,065 shares of the asset manager’s stock worth $3,787,000 after acquiring an additional 88 shares in the last quarter. MCF Advisors LLC boosted its stake in shares of T. Rowe Price Group by 1.6% during the 1st quarter. MCF Advisors LLC now owns 5,953 shares of the asset manager’s stock worth $726,000 after acquiring an additional 92 shares in the last quarter. Paulson Wealth Management Inc. boosted its stake in shares of T. Rowe Price Group by 4.9% during the 1st quarter. Paulson Wealth Management Inc. now owns 2,028 shares of the asset manager’s stock worth $247,000 after acquiring an additional 95 shares in the last quarter. Finally, Private Wealth Partners LLC boosted its stake in shares of T. Rowe Price Group by 3.1% during the 2nd quarter. Private Wealth Partners LLC now owns 3,300 shares of the asset manager’s stock worth $381,000 after acquiring an additional 100 shares in the last quarter. Institutional investors and hedge funds own 73.39% of the company’s stock.

T. Rowe Price Group Stock Up 2.2 %

Shares of T. Rowe Price Group stock opened at $110.55 on Friday. T. Rowe Price Group, Inc. has a fifty-two week low of $87.43 and a fifty-two week high of $122.27. The firm has a market cap of $24.61 billion, a PE ratio of 13.13, a P/E/G ratio of 1.69 and a beta of 1.41. The business’s fifty day moving average is $109.00 and its two-hundred day moving average is $113.36.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings results on Friday, July 26th. The asset manager reported $2.26 earnings per share 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 business had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.79 billion. During the same period in the prior year, the company earned $2.02 EPS. The company’s revenue for the quarter was up 7.6% compared to the same quarter last year. Equities research analysts anticipate that T. Rowe Price Group, Inc. will post 9 EPS 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. Stockholders of record on Friday, September 13th will be issued a dividend of $1.24 per share. The ex-dividend date is Friday, September 13th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 4.49%. T. Rowe Price Group’s payout ratio is 58.91%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on TROW. Wells Fargo & Company began coverage on T. Rowe Price Group in a research note on Thursday, September 12th. They issued an “equal weight” rating and a $109.00 target price on the stock. Deutsche Bank Aktiengesellschaft upped their target price on 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. Evercore ISI reduced their target price 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. Keefe, Bruyette & Woods reaffirmed 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 note on Monday, July 29th. Finally, TD Cowen reduced their target price on 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. Three research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $113.30.

Insider Transactions at T. Rowe Price Group

In other news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the company’s stock in a transaction on Friday, September 6th. The stock was 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 in the company, valued at approximately $12,712,255.92. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, insider Jessica M. Hiebler sold 484 shares of the stock in a transaction on Friday, September 13th. The stock was sold at an average price of $104.73, for a total value of $50,689.32. Following the completion of the sale, the insider now directly owns 13,939 shares in the company, valued at approximately $1,459,831.47. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the stock in a transaction on Friday, September 6th. The shares were 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 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 a total of 13,854 shares of company stock worth $1,443,767 in the last ninety days. Insiders own 2.00% of the company’s stock.

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.