T. Rowe Price Group Inc (TROW) Position Raised by Moneta Group Investment Advisors LLC

Moneta Group Investment Advisors LLC boosted its position in shares of T. Rowe Price Group Inc (NASDAQ:TROW) by 115.4% in the second quarter, Holdings Channel reports. The institutional investor owned 6,747 shares of the asset manager’s stock after acquiring an additional 3,614 shares during the quarter. Moneta Group Investment Advisors LLC’s holdings in T. Rowe Price Group were worth $783,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Synovus Financial Corp bought a new position in T. Rowe Price Group in the 1st quarter worth $198,000. Aperio Group LLC raised its holdings in T. Rowe Price Group by 14.4% in the 1st quarter. Aperio Group LLC now owns 117,226 shares of the asset manager’s stock worth $12,657,000 after purchasing an additional 14,796 shares in the last quarter. Signaturefd LLC bought a new position in T. Rowe Price Group in the 1st quarter worth $111,000. Teacher Retirement System of Texas raised its holdings in T. Rowe Price Group by 22.6% in the 1st quarter. Teacher Retirement System of Texas now owns 132,593 shares of the asset manager’s stock worth $14,316,000 after purchasing an additional 24,468 shares in the last quarter. Finally, KCM Investment Advisors LLC raised its holdings in T. Rowe Price Group by 15.7% in the 1st quarter. KCM Investment Advisors LLC now owns 3,403 shares of the asset manager’s stock worth $367,000 after purchasing an additional 461 shares in the last quarter. Institutional investors own 70.32% of the company’s stock.

In related news, Director Freeman A. Hrabowski III sold 4,500 shares of the stock in a transaction dated Thursday, July 26th. The shares were sold at an average price of $121.74, for a total transaction of $547,830.00. Following the sale, the director now directly owns 9,640 shares of the company’s stock, valued at approximately $1,173,573.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Christopher D. Alderson sold 41,639 shares of the stock in a transaction dated Thursday, July 26th. The shares were sold at an average price of $121.89, for a total transaction of $5,075,377.71. Following the sale, the vice president now directly owns 114,860 shares in the company, valued at $14,000,285.40. The disclosure for this sale can be found here. 3.10% of the stock is owned by company insiders.

TROW has been the subject of several research reports. BidaskClub lowered shares of T. Rowe Price Group from a “hold” rating to a “sell” rating in a report on Saturday, August 18th. Deutsche Bank decreased their price objective on shares of T. Rowe Price Group from $136.00 to $135.00 and set a “buy” rating for the company in a report on Thursday, August 16th. Zacks Investment Research lowered shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Friday, August 10th. ValuEngine lowered shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Wednesday, July 25th. Finally, Morgan Stanley increased their price target on shares of T. Rowe Price Group from $114.00 to $116.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 12th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $118.27.

Shares of T. Rowe Price Group stock opened at $110.37 on Friday. The stock has a market capitalization of $26.78 billion, a P/E ratio of 20.33, a price-to-earnings-growth ratio of 1.38 and a beta of 1.18. T. Rowe Price Group Inc has a 1 year low of $83.90 and a 1 year high of $127.43.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings results on Wednesday, July 25th. The asset manager reported $1.87 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.76 by $0.11. The company had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.33 billion. T. Rowe Price Group had a net margin of 31.67% and a return on equity of 28.49%. T. Rowe Price Group’s quarterly revenue was up 13.4% compared to the same quarter last year. During the same period last year, the business earned $1.28 EPS. analysts anticipate that T. Rowe Price Group Inc will post 7.25 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 28th. Investors of record on Friday, September 14th will be paid a $0.70 dividend. The ex-dividend date is Thursday, September 13th. This represents a $2.80 annualized dividend and a dividend yield of 2.54%. T. Rowe Price Group’s payout ratio is 51.57%.

About T. Rowe Price Group

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.

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Institutional Ownership by Quarter for T. Rowe Price Group (NASDAQ:TROW)

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