Summit Trail Advisors LLC Has $464,000 Stock Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Summit Trail Advisors LLC increased its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 31.5% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,025 shares of the asset manager’s stock after acquiring an additional 963 shares during the period. Summit Trail Advisors LLC’s holdings in T. Rowe Price Group were worth $464,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Trexquant Investment LP acquired a new position in shares of T. Rowe Price Group in the 4th quarter worth approximately $671,000. US Bancorp DE raised its stake in T. Rowe Price Group by 2.2% during the fourth quarter. US Bancorp DE now owns 63,705 shares of the asset manager’s stock worth $6,860,000 after acquiring an additional 1,348 shares in the last quarter. Advisory Services Network LLC lifted its holdings in shares of T. Rowe Price Group by 1.4% during the fourth quarter. Advisory Services Network LLC now owns 20,021 shares of the asset manager’s stock valued at $2,156,000 after acquiring an additional 285 shares during the period. Hsbc Holdings PLC boosted its stake in shares of T. Rowe Price Group by 66.8% in the 4th quarter. Hsbc Holdings PLC now owns 765,080 shares of the asset manager’s stock valued at $82,434,000 after purchasing an additional 306,524 shares in the last quarter. Finally, TD Asset Management Inc grew its holdings in shares of T. Rowe Price Group by 6.3% in the 4th quarter. TD Asset Management Inc now owns 85,412 shares of the asset manager’s stock worth $9,198,000 after purchasing an additional 5,068 shares during the last quarter. Institutional investors own 73.39% of the company’s stock.

Insider Transactions at T. Rowe Price Group

In related news, insider Jessica M. Hiebler sold 484 shares of the company’s stock in a transaction dated 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 owns 13,939 shares in the company, valued at $1,459,831.47. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Jessica M. Hiebler sold 484 shares of the business’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $104.73, for a total transaction of $50,689.32. Following the completion of the transaction, the insider now directly owns 13,939 shares in the company, valued at approximately $1,459,831.47. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the stock in a transaction that occurred on 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 owns 123,624 shares in the company, valued at $12,712,255.92. The disclosure for this sale can be found here. Insiders have sold 13,854 shares of company stock worth $1,443,767 in the last three months. Insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $120.00 price target (down from $121.00) on shares of T. Rowe Price Group in a research report on Monday, July 29th. StockNews.com downgraded T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Wells Fargo & Company started coverage on T. Rowe Price Group in a report on Thursday, September 12th. They set an “equal weight” rating and a $109.00 price target for the company. JPMorgan Chase & Co. boosted their price objective on T. Rowe Price Group from $102.00 to $107.00 and gave the stock an “underweight” rating in a research note on Tuesday, July 23rd. Finally, Evercore ISI decreased 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 report on Thursday, September 5th. Three investment analysts have rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. According to MarketBeat.com, T. Rowe Price Group presently has a consensus rating of “Hold” and a consensus price target of $113.30.

T. Rowe Price Group Stock Down 0.2 %

Shares of TROW stock opened at $108.10 on Tuesday. The firm has a market cap of $24.14 billion, a price-to-earnings ratio of 12.84, a PEG ratio of 1.69 and a beta of 1.41. T. Rowe Price Group, Inc. has a 12 month low of $87.43 and a 12 month high of $122.27. The stock has a 50-day moving average price of $108.59 and a 200 day moving average price of $113.19.

T. Rowe Price Group (NASDAQ:TROW) last posted 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 the consensus estimate of $1.79 billion. During the same period last year, the firm earned $2.02 earnings per share. The company’s quarterly revenue was up 7.6% on a year-over-year basis. Sell-side analysts predict that T. Rowe Price Group, Inc. will post 9 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be paid a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a dividend yield of 4.59%. The ex-dividend date of this dividend is Friday, September 13th. T. Rowe Price Group’s dividend payout ratio (DPR) 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.