Ensign Peak Advisors Inc Purchases 1,425 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Ensign Peak Advisors Inc increased its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 1.0% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 139,296 shares of the asset manager’s stock after acquiring an additional 1,425 shares during the quarter. Ensign Peak Advisors Inc owned 0.06% of T. Rowe Price Group worth $16,062,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Lynx Investment Advisory purchased a new position in shares of T. Rowe Price Group during the second quarter valued at approximately $29,000. Family Firm Inc. purchased a new stake in shares of T. Rowe Price Group during the second quarter worth $36,000. Versant Capital Management Inc boosted its holdings in shares of T. Rowe Price Group by 660.5% in the second quarter. Versant Capital Management Inc now owns 327 shares of the asset manager’s stock worth $38,000 after acquiring an additional 284 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in shares of T. Rowe Price Group by 93.6% in the first quarter. EverSource Wealth Advisors LLC now owns 331 shares of the asset manager’s stock worth $40,000 after acquiring an additional 160 shares during the period. Finally, Riverview Trust Co grew its position in shares of T. Rowe Price Group by 136.4% in the second quarter. Riverview Trust Co now owns 357 shares of the asset manager’s stock valued at $41,000 after purchasing an additional 206 shares in the last quarter. Institutional investors and hedge funds own 73.39% of the company’s stock.

Insider Activity

In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 1,401 shares of T. Rowe Price Group stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $115.85, for a total transaction of $162,305.85. Following the completion of the sale, 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 SEC, which is accessible through this hyperlink. In other news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of T. Rowe Price Group stock in a transaction dated 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 sale, the vice president now owns 123,624 shares in the company, valued at $12,712,255.92. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Jessica M. Hiebler sold 1,401 shares of the business’s stock in a transaction that occurred 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 sale, the insider now owns 14,198 shares of the company’s stock, valued at $1,644,838.30. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 13,854 shares of company stock worth $1,443,767. Corporate insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on TROW shares. StockNews.com downgraded T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Evercore ISI reduced their price objective on shares of 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. Barclays initiated coverage on shares of T. Rowe Price Group in a research note on Tuesday, August 27th. They issued an “underweight” rating and a $99.00 target price on the stock. JPMorgan Chase & Co. increased their price objective on 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. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $120.00 price target (down previously from $121.00) on shares of T. Rowe Price Group in a report on Monday, July 29th. Three investment analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $113.30.

T. Rowe Price Group Price Performance

Shares of TROW stock opened at $108.10 on Tuesday. The company has a market cap of $24.14 billion, a PE ratio of 12.84, a price-to-earnings-growth ratio of 1.69 and a beta of 1.41. The stock’s 50 day simple moving average is $108.59 and its two-hundred day simple moving average is $113.19. T. Rowe Price Group, Inc. has a 1 year low of $87.43 and a 1 year high of $122.27.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings results on Friday, July 26th. The asset manager reported $2.26 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 the consensus estimate of $1.79 billion. T. Rowe Price Group had a net margin of 28.66% and a return on equity of 19.90%. The business’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.02 earnings per share. Equities research analysts expect that T. Rowe Price Group, Inc. will post 9 EPS for the current year.

T. Rowe Price Group Dividend Announcement

The business 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 dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a yield of 4.59%. The ex-dividend date is Friday, September 13th. T. Rowe Price Group’s payout ratio is currently 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.