Vest Financial LLC Purchases 61,509 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Vest Financial LLC lifted its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 18.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 391,623 shares of the asset manager’s stock after purchasing an additional 61,509 shares during the quarter. T. Rowe Price Group makes up about 1.1% of Vest Financial LLC’s investment portfolio, making the stock its 23rd largest position. Vest Financial LLC owned 0.18% of T. Rowe Price Group worth $45,158,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Nomura Asset Management Co. Ltd. raised its stake in shares of T. Rowe Price Group by 15.8% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 344,889 shares of the asset manager’s stock valued at $37,141,000 after buying an additional 47,043 shares in the last quarter. Ashton Thomas Private Wealth LLC bought a new stake in T. Rowe Price Group in the first quarter valued at about $1,008,000. Nebula Research & Development LLC acquired a new position in T. Rowe Price Group in the fourth quarter worth about $807,000. Fisher Asset Management LLC lifted its stake in T. Rowe Price Group by 6.6% during the fourth quarter. Fisher Asset Management LLC now owns 1,751,405 shares of the asset manager’s stock worth $188,609,000 after purchasing an additional 109,053 shares during the period. Finally, Envestnet Portfolio Solutions Inc. boosted its holdings in T. Rowe Price Group by 52.4% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 65,534 shares of the asset manager’s stock valued at $7,990,000 after purchasing an additional 22,533 shares in the last quarter. 73.39% of the stock is currently owned by institutional investors.

Insider Buying and Selling at T. Rowe Price Group

In related news, VP Dorothy C. Sawyer sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $117.00, for a total transaction of $234,000.00. Following the completion of the sale, the vice president now directly owns 34,710 shares of the company’s stock, valued at $4,061,070. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, VP Dorothy C. Sawyer sold 2,000 shares of T. Rowe Price Group stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $117.00, for a total transaction of $234,000.00. Following the completion of the sale, the vice president now directly owns 34,710 shares of the company’s stock, valued at $4,061,070. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the company’s stock in a transaction dated 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 sale, 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 three months, insiders have sold 15,370 shares of company stock worth $1,627,078. Company insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on TROW. Evercore ISI cut their target price 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. StockNews.com downgraded shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. JPMorgan Chase & Co. lifted their price target on shares of T. Rowe Price Group from $102.00 to $107.00 and gave the company an “underweight” rating in a report on Tuesday, July 23rd. TD Cowen cut their target price 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, Keefe, Bruyette & Woods restated a “market perform” rating and set a $120.00 price target (down from $121.00) on shares of T. Rowe Price Group in a research report on Monday, July 29th. Four research analysts have rated the stock with a sell rating and seven have given a hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $113.20.

T. Rowe Price Group Price Performance

Shares of T. Rowe Price Group stock opened at $104.11 on Thursday. The firm has a 50 day simple moving average of $110.02 and a 200 day simple moving average of $113.58. T. Rowe Price Group, Inc. has a fifty-two week low of $87.43 and a fifty-two week high of $122.27. The firm has a market cap of $23.17 billion, a P/E ratio of 12.36, a P/E/G ratio of 1.62 and a beta of 1.41.

T. Rowe Price Group (NASDAQ:TROW) last released its earnings results 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 net margin of 28.66% and a return on equity of 19.90%. The firm had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.79 billion. During the same period last year, the business posted $2.02 earnings per share. The firm’s quarterly revenue was up 7.6% on a year-over-year basis. On average, sell-side analysts expect that T. Rowe Price Group, Inc. will post 9 EPS for the current year.

T. Rowe Price Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be issued a dividend of $1.24 per share. The ex-dividend date is Friday, September 13th. This represents a $4.96 annualized dividend and a yield of 4.76%. T. Rowe Price Group’s dividend payout ratio is currently 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.