Vanguard Personalized Indexing Management LLC Buys 8,283 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Vanguard Personalized Indexing Management LLC raised its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 36.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 31,221 shares of the asset manager’s stock after buying an additional 8,283 shares during the period. Vanguard Personalized Indexing Management LLC’s holdings in T. Rowe Price Group were worth $3,600,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in TROW. Lynx Investment Advisory bought a new position in T. Rowe Price Group in the second quarter valued at $29,000. Family Firm Inc. bought a new stake in T. Rowe Price Group during the second quarter worth about $36,000. Versant Capital Management Inc boosted its holdings in shares of 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 worth $38,000 after purchasing an additional 284 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in shares of 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 raised its holdings in shares of T. Rowe Price Group by 136.4% during the 2nd quarter. Riverview Trust Co now owns 357 shares of the asset manager’s stock valued at $41,000 after buying an additional 206 shares in the last quarter. Institutional investors own 73.39% of the company’s stock.

Analysts Set New Price Targets

TROW has been the subject of several research reports. Deutsche Bank Aktiengesellschaft upped their target price on T. Rowe Price Group from $112.00 to $113.00 and gave the stock a “hold” rating in a research note on Thursday, August 15th. Evercore ISI cut 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. StockNews.com cut shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. TD Cowen lowered their price target on shares of T. Rowe Price Group from $123.00 to $118.00 and set a “hold” rating for the company in a research note on Monday, July 29th. Finally, JPMorgan Chase & Co. raised their price objective on T. Rowe Price Group from $102.00 to $107.00 and gave the company an “underweight” rating in a research note on Tuesday, July 23rd. Three equities research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. According to 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

NASDAQ TROW opened at $110.55 on Friday. The business’s 50-day moving average is $109.00 and its 200 day moving average is $113.36. The stock has a market capitalization of $24.61 billion, a PE ratio of 13.13, a PEG ratio of 1.69 and a beta of 1.41. 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 posted its earnings results 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). T. Rowe Price Group had a net margin of 28.66% and a return on equity of 19.90%. The business had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.79 billion. During the same period last year, the firm posted $2.02 earnings per share. T. Rowe Price Group’s quarterly revenue was up 7.6% on a year-over-year basis. As a group, equities research analysts anticipate that T. Rowe Price Group, Inc. will post 9 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

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 $1.24 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $4.96 annualized dividend and a dividend yield of 4.49%. T. Rowe Price Group’s dividend payout ratio is 58.91%.

Insider Activity

In related news, insider Jessica M. Hiebler sold 1,401 shares of the stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $115.85, for a total value of $162,305.85. Following the completion of the transaction, the insider now directly owns 14,198 shares of the company’s stock, valued at $1,644,838.30. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 1,401 shares of the company’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 transaction of $162,305.85. Following the transaction, the insider now owns 14,198 shares in the company, valued at approximately $1,644,838.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the firm’s stock in a transaction that occurred 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 transaction, the vice president now owns 123,624 shares of the company’s stock, valued at approximately $12,712,255.92. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 13,854 shares of company stock valued at $1,443,767. Corporate insiders own 2.00% of the company’s stock.

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.