Engineers Gate Manager LP Buys 41,856 Shares of T. Rowe Price Group, Inc. $TROW

Engineers Gate Manager LP raised its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 946.3% during the second quarter, HoldingsChannel reports. The firm owned 46,279 shares of the asset manager’s stock after buying an additional 41,856 shares during the quarter. Engineers Gate Manager LP’s holdings in T. Rowe Price Group were worth $5,261,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. Woodline Partners LP lifted its position in T. Rowe Price Group by 41.0% in the first quarter. Woodline Partners LP now owns 18,809 shares of the asset manager’s stock worth $1,728,000 after buying an additional 5,467 shares during the last quarter. Focus Partners Wealth increased its position in T. Rowe Price Group by 10.6% during the first quarter. Focus Partners Wealth now owns 13,054 shares of the asset manager’s stock valued at $1,199,000 after acquiring an additional 1,250 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in T. Rowe Price Group by 44.8% during the second quarter. EverSource Wealth Advisors LLC now owns 1,546 shares of the asset manager’s stock valued at $149,000 after acquiring an additional 478 shares during the last quarter. Jump Financial LLC purchased a new stake in shares of T. Rowe Price Group in the second quarter valued at $931,000. Finally, Daiwa Securities Group Inc. raised its stake in shares of T. Rowe Price Group by 5.4% in the second quarter. Daiwa Securities Group Inc. now owns 33,245 shares of the asset manager’s stock valued at $3,208,000 after acquiring an additional 1,703 shares during the period. 73.39% of the stock is owned by institutional investors.

Insider Buying and Selling at T. Rowe Price Group

In other news, VP Joshua Nelson sold 10,000 shares of the stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $111.82, for a total transaction of $1,118,200.00. Following the transaction, the vice president owned 71,328 shares of the company’s stock, valued at approximately $7,975,896.96. This represents a 12.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Zacks Research cut shares of T. Rowe Price Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 13th. Weiss Ratings raised shares of T. Rowe Price Group from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, September 4th. Barclays decreased their price objective on shares of T. Rowe Price Group from $108.00 to $103.00 and set an “underweight” rating for the company in a research note on Monday, August 3rd. TD Cowen boosted their target price on T. Rowe Price Group from $108.00 to $110.00 and gave the company a “hold” rating in a research report on Monday, August 31st. Finally, BMO Capital Markets upped their target price on T. Rowe Price Group from $110.00 to $120.00 and gave the company a “market perform” rating in a research note on Monday, August 3rd. One research analyst has rated the stock with a Buy rating, nine have issued a Hold rating and four have given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus target price of $106.15.

T. Rowe Price Group Stock Performance

Shares of NASDAQ:TROW opened at $106.29 on Friday. The firm’s 50 day simple moving average is $113.83 and its 200-day simple moving average is $104.36. T. Rowe Price Group, Inc. has a one year low of $85.22 and a one year high of $122.00. The firm has a market cap of $22.67 billion, a PE ratio of 10.66, a price-to-earnings-growth ratio of 3.56 and a beta of 1.46.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings results on Friday, July 31st. The asset manager reported $2.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.52 by $0.05. T. Rowe Price Group had a return on equity of 20.91% and a net margin of 29.26%.The firm had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.89 billion. During the same quarter in the previous year, the business earned $2.24 earnings per share. T. Rowe Price Group’s quarterly revenue was up 10.7% on a year-over-year basis. Equities research analysts predict that T. Rowe Price Group, Inc. will post 10.16 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 Tuesday, September 29th. Shareholders of record on Tuesday, September 15th will be given a dividend of $1.30 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $5.20 dividend on an annualized basis and a yield of 4.9%. T. Rowe Price Group’s payout ratio is 52.16%.

About T. Rowe Price Group

T. Rowe Price Group, Inc is a global investment management firm headquartered in Baltimore, Maryland. Founded in 1937 by Thomas Rowe Price Jr., the company provides investment management, advisory and related services to individual investors, retirement plans, institutions, financial intermediaries and other clients.

The company offers a broad range of investment products and strategies, including mutual funds, exchange-traded funds, separately managed accounts and institutional portfolios.