Versor Investments LP Purchases Shares of 13,000 T. Rowe Price Group, Inc. (NASDAQ:TROW)

Versor Investments LP acquired a new position in T. Rowe Price Group, Inc. (NASDAQ:TROW) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 13,000 shares of the asset manager’s stock, valued at approximately $1,499,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Massmutual Trust Co. FSB ADV grew its holdings in T. Rowe Price Group by 7.5% during the first quarter. Massmutual Trust Co. FSB ADV now owns 1,236 shares of the asset manager’s stock worth $151,000 after acquiring an additional 86 shares during the period. ST Germain D J Co. Inc. raised its holdings in shares of T. Rowe Price Group by 0.3% in the 1st quarter. ST Germain D J Co. Inc. now owns 31,065 shares of the asset manager’s stock worth $3,787,000 after purchasing an additional 88 shares in the last quarter. MCF Advisors LLC raised its holdings in shares of T. Rowe Price Group by 1.6% in the 1st quarter. MCF Advisors LLC now owns 5,953 shares of the asset manager’s stock worth $726,000 after purchasing an additional 92 shares in the last quarter. Paulson Wealth Management Inc. boosted its holdings in T. Rowe Price Group by 4.9% during the first quarter. Paulson Wealth Management Inc. now owns 2,028 shares of the asset manager’s stock worth $247,000 after buying an additional 95 shares in the last quarter. Finally, CVA Family Office LLC boosted its holdings in T. Rowe Price Group by 28.3% during the second quarter. CVA Family Office LLC now owns 462 shares of the asset manager’s stock worth $53,000 after buying an additional 102 shares in the last quarter. Institutional investors own 73.39% of the company’s stock.

T. Rowe Price Group Stock Up 1.0 %

Shares of TROW traded up $1.08 during trading hours on Monday, reaching $106.04. The company’s stock had a trading volume of 1,832,000 shares, compared to its average volume of 1,275,624. The firm has a market cap of $23.60 billion, a price-to-earnings ratio of 12.59, a P/E/G ratio of 1.69 and a beta of 1.42. The company has a 50 day moving average of $111.93 and a two-hundred day moving average of $113.92. 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 EPS for the quarter, missing the consensus estimate of $2.27 by ($0.01). The business had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.79 billion. T. Rowe Price Group had a return on equity of 19.90% and a net margin of 28.66%. The business’s revenue was up 7.6% on a year-over-year basis. During the same period in the prior year, the firm earned $2.02 earnings per share. As a group, analysts forecast that T. Rowe Price Group, Inc. will post 9 EPS for the current fiscal year.

T. Rowe Price Group Announces Dividend

The company also recently announced 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 4.68%. The ex-dividend date is Friday, September 13th. T. Rowe Price Group’s dividend payout ratio is 58.91%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on TROW. StockNews.com downgraded T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Deutsche Bank Aktiengesellschaft upped their target price on T. Rowe Price Group from $112.00 to $113.00 and gave the company a “hold” rating in a report on Thursday, August 15th. TD Cowen decreased their price target on T. Rowe Price Group from $123.00 to $118.00 and set a “hold” rating for the company in a research report on Monday, July 29th. Barclays assumed coverage on T. Rowe Price Group in a report on Tuesday, August 27th. They set an “underweight” rating and a $99.00 price objective on the stock. Finally, JPMorgan Chase & Co. raised their target price on shares of T. Rowe Price Group from $102.00 to $107.00 and gave the stock an “underweight” rating in a report on Tuesday, July 23rd. Four investment analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $113.10.

Insider Activity at T. Rowe Price Group

In other T. Rowe Price Group news, VP Dorothy C. Sawyer sold 2,000 shares of the stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $117.00, for a total value 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 approximately $4,061,070. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, insider Jessica M. Hiebler sold 1,401 shares of the business’s stock in a transaction 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 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 SEC, which is available through this link. Also, VP Dorothy C. Sawyer sold 2,000 shares of the stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $117.00, for a total transaction of $234,000.00. Following the sale, the vice president now owns 34,710 shares of the company’s stock, valued at approximately $4,061,070. The disclosure for this sale can be found here. 2.00% of the stock is 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.