Frank Rimerman Advisors LLC Has $1.54 Million Stock Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Frank Rimerman Advisors LLC grew its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 166,800.0% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 13,352 shares of the asset manager’s stock after buying an additional 13,344 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in T. Rowe Price Group were worth $1,540,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Lynx Investment Advisory bought a new stake in shares of T. Rowe Price Group during the second quarter worth $29,000. Family Firm Inc. bought a new position in shares of T. Rowe Price Group during the second quarter worth $36,000. Versant Capital Management Inc lifted its holdings in T. Rowe Price Group by 660.5% during 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 in the last quarter. EverSource Wealth Advisors LLC grew its stake in 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 valued at $40,000 after acquiring an additional 160 shares during the period. Finally, Riverview Trust Co increased its holdings 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 worth $41,000 after acquiring an additional 206 shares in the last quarter. 73.39% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at T. Rowe Price Group

In related news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $102.83, for a total transaction of $1,230,772.27. Following the transaction, the vice president now directly owns 123,624 shares of the company’s stock, valued at approximately $12,712,255.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The stock was 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 sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Jessica M. Hiebler sold 1,401 shares of T. Rowe Price Group 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 directly owns 14,198 shares of the company’s stock, valued at $1,644,838.30. The disclosure for this sale can be found here. Insiders have sold 13,854 shares of company stock worth $1,443,767 over the last 90 days. Company insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $120.00 price objective (down from $121.00) on shares of T. Rowe Price Group in a research report on Monday, July 29th. StockNews.com lowered shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Evercore ISI reduced their target price 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. TD Cowen cut their price target on T. Rowe Price Group from $123.00 to $118.00 and set a “hold” rating on the stock in a report on Monday, July 29th. Finally, Wells Fargo & Company assumed coverage on T. Rowe Price Group in a research report on Thursday, September 12th. They set an “equal weight” rating and a $109.00 price objective for the company. Three 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.

T. Rowe Price Group Trading Down 2.0 %

NASDAQ TROW opened at $108.29 on Monday. 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 of $108.80 and a 200-day moving average of $113.25. The company has a market cap of $24.18 billion, a PE ratio of 12.86, a PEG ratio of 1.69 and a beta of 1.41.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings results on Friday, July 26th. The asset manager reported $2.26 EPS for the quarter, missing analysts’ consensus estimates of $2.27 by ($0.01). The firm had revenue of $1.73 billion during the quarter, compared to analyst estimates 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 was up 7.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.02 EPS. As a group, sell-side analysts predict that T. Rowe Price Group, Inc. will post 9 EPS for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders 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 4.58%. The ex-dividend date of this dividend is Friday, September 13th. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 58.91%.

T. Rowe Price Group Company 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.