Cetera Investment Advisers Buys 1,385 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Cetera Investment Advisers increased its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 3.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,646 shares of the asset manager’s stock after purchasing an additional 1,385 shares during the period. Cetera Investment Advisers’ holdings in T. Rowe Price Group were worth $5,148,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of TROW. Lynx Investment Advisory bought a new position in shares of T. Rowe Price Group in the second quarter worth approximately $29,000. Family Firm Inc. bought a new position in T. Rowe Price Group in the 2nd quarter valued at approximately $36,000. Versant Capital Management Inc lifted its position 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 acquiring an additional 284 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in T. Rowe Price Group by 93.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 331 shares of the asset manager’s stock valued at $40,000 after purchasing an additional 160 shares during the last quarter. Finally, Riverview Trust Co increased its holdings in shares of T. Rowe Price Group by 136.4% in the 2nd quarter. Riverview Trust Co now owns 357 shares of the asset manager’s stock worth $41,000 after purchasing an additional 206 shares in the last quarter. 73.39% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at T. Rowe Price Group

In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 484 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $104.73, for a total transaction of $50,689.32. Following the sale, the insider now owns 13,939 shares in the company, valued at approximately $1,459,831.47. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the company’s 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 transaction, the vice president now owns 123,624 shares of the company’s stock, valued at $12,712,255.92. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Jessica M. Hiebler sold 484 shares of the 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 sale, the insider now owns 13,939 shares of the company’s stock, valued at $1,459,831.47. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by corporate insiders.

T. Rowe Price Group Trading Down 0.0 %

Shares of TROW stock opened at $106.60 on Wednesday. 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 market cap of $23.73 billion, a P/E ratio of 12.66, a P/E/G ratio of 1.81 and a beta of 1.41. The company has a 50 day simple moving average of $107.04 and a two-hundred day simple moving average of $112.57.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings data 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 company had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.79 billion. T. Rowe Price Group had a return on equity of 19.90% and a net margin of 28.66%. The company’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same quarter last year, the company earned $2.02 earnings per share. As a group, equities analysts forecast that T. Rowe Price Group, Inc. will post 8.97 earnings per share for the current year.

T. Rowe Price Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were given a dividend of $1.24 per share. The ex-dividend date was Friday, September 13th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 4.65%. T. Rowe Price Group’s payout ratio is currently 58.91%.

Analyst Ratings Changes

TROW has been the topic of a number of research analyst reports. Evercore ISI upped their price target on T. Rowe Price Group from $108.00 to $109.00 and gave the company an “in-line” rating in a report on Friday, October 4th. Barclays initiated coverage on shares of T. Rowe Price Group in a research note on Tuesday, August 27th. They set an “underweight” rating and a $99.00 target price on the stock. The Goldman Sachs Group decreased their price objective on shares of T. Rowe Price Group from $106.00 to $102.00 and set a “sell” rating for the company in a report on Thursday, October 3rd. TD Cowen lowered their price objective on shares of T. Rowe Price Group from $123.00 to $118.00 and set a “hold” rating on the stock in a research report on Monday, July 29th. Finally, Wells Fargo & Company started coverage on shares of T. Rowe Price Group in a research report on Thursday, September 12th. They issued an “equal weight” rating and a $109.00 target price for the company. Four equities research analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $112.36.

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.