Capstone Triton Financial Group LLC Acquires 748 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Capstone Triton Financial Group LLC grew its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 14.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,821 shares of the asset manager’s stock after buying an additional 748 shares during the quarter. Capstone Triton Financial Group LLC’s holdings in T. Rowe Price Group were worth $671,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of TROW. Confluence Investment Management LLC bought a new stake in T. Rowe Price Group in the first quarter valued at approximately $130,386,000. Norges Bank purchased a new position in shares of T. Rowe Price Group in the fourth quarter worth $80,831,000. Hsbc Holdings PLC increased its stake in shares of T. Rowe Price Group by 66.8% in the fourth quarter. Hsbc Holdings PLC now owns 765,080 shares of the asset manager’s stock worth $82,434,000 after buying an additional 306,524 shares during the period. Los Angeles Capital Management LLC raised its holdings in T. Rowe Price Group by 492.3% during the 1st quarter. Los Angeles Capital Management LLC now owns 319,887 shares of the asset manager’s stock valued at $39,001,000 after buying an additional 265,881 shares during the last quarter. Finally, Bank of Nova Scotia boosted its position in T. Rowe Price Group by 1,278.0% during the 4th quarter. Bank of Nova Scotia now owns 252,055 shares of the asset manager’s stock valued at $27,143,000 after buying an additional 233,763 shares during the period. Hedge funds and other institutional investors own 73.39% of the company’s stock.

T. Rowe Price Group Trading Down 2.0 %

Shares of T. Rowe Price Group stock opened at $108.29 on Friday. T. Rowe Price Group, Inc. has a 12 month low of $87.43 and a 12 month high of $122.27. The firm has a market capitalization of $24.11 billion, a P/E ratio of 12.86, a P/E/G ratio of 1.69 and a beta of 1.41. The business has a fifty day simple moving average of $108.80 and a two-hundred day simple moving average of $113.30.

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). 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 in the previous year, the firm earned $2.02 EPS. The company’s revenue was up 7.6% on a year-over-year basis. Analysts predict that T. Rowe Price Group, Inc. will post 9 earnings per share for the current year.

T. Rowe Price Group Dividend Announcement

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 paid a $1.24 dividend. The ex-dividend date is Friday, September 13th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 4.58%. T. Rowe Price Group’s dividend payout ratio is currently 58.91%.

Analysts Set New Price Targets

TROW has been the topic of a number of analyst reports. JPMorgan Chase & Co. boosted their price objective on shares of T. Rowe Price Group from $102.00 to $107.00 and gave the company an “underweight” rating in a research report on Tuesday, July 23rd. Evercore ISI lowered their price target on T. Rowe Price Group from $115.00 to $108.00 and set an “in-line” rating for the company in a research report on Thursday, September 5th. Wells Fargo & Company initiated coverage on T. Rowe Price Group in a report on Thursday, September 12th. They issued an “equal weight” rating and a $109.00 price objective for the company. 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. Finally, StockNews.com lowered T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Three investment analysts have rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $113.30.

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 transaction of $162,305.85. Following the sale, the insider now directly 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 Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Jessica M. Hiebler sold 1,401 shares of the business’s stock in a transaction that occurred on 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 in the company, valued at approximately $1,644,838.30. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jessica M. Hiebler sold 484 shares of the stock in a transaction on Friday, September 13th. The shares were 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 in the company, valued at $1,459,831.47. The disclosure for this sale can be found here. Insiders sold 13,854 shares of company stock worth $1,443,767 over the last three months. 2.00% of the stock is currently owned by corporate insiders.

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.