Benin Management CORP Purchases 150 Shares of T. Rowe Price Group, Inc. $TROW

Benin Management CORP grew its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 2.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,169 shares of the asset manager’s stock after acquiring an additional 150 shares during the quarter. Benin Management CORP’s holdings in T. Rowe Price Group were worth $692,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. GAMMA Investing LLC boosted its holdings in shares of T. Rowe Price Group by 5.1% in the 1st quarter. GAMMA Investing LLC now owns 3,627 shares of the asset manager’s stock worth $333,000 after purchasing an additional 176 shares during the period. Exchange Traded Concepts LLC boosted its holdings in shares of T. Rowe Price Group by 27.9% in the 1st quarter. Exchange Traded Concepts LLC now owns 971 shares of the asset manager’s stock worth $89,000 after purchasing an additional 212 shares during the period. Cambridge Investment Research Advisors Inc. boosted its holdings in shares of T. Rowe Price Group by 2.9% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 43,433 shares of the asset manager’s stock worth $3,990,000 after purchasing an additional 1,214 shares during the period. Asset Management One Co. Ltd. boosted its holdings in shares of T. Rowe Price Group by 8.5% in the 1st quarter. Asset Management One Co. Ltd. now owns 95,508 shares of the asset manager’s stock worth $8,774,000 after purchasing an additional 7,455 shares during the period. Finally, Moran Wealth Management LLC purchased a new position in shares of T. Rowe Price Group in the 1st quarter worth approximately $8,073,000. Institutional investors own 73.39% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. JPMorgan Chase & Co. lifted their target price on T. Rowe Price Group from $102.00 to $109.00 and gave the stock an “underweight” rating in a report on Wednesday, October 15th. Wells Fargo & Company lifted their target price on T. Rowe Price Group from $98.00 to $108.00 and gave the stock an “equal weight” rating in a report on Friday, July 11th. Barclays boosted their price objective on T. Rowe Price Group from $95.00 to $103.00 and gave the company an “underweight” rating in a report on Tuesday. Bank of America boosted their price objective on T. Rowe Price Group from $91.00 to $97.00 and gave the company an “underperform” rating in a report on Thursday, October 2nd. Finally, Jefferies Financial Group boosted their price objective on T. Rowe Price Group from $104.00 to $106.00 and gave the company a “hold” rating in a report on Tuesday, October 7th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, ten have given a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Reduce” and a consensus price target of $107.54.

T. Rowe Price Group Stock Up 0.0%

Shares of NASDAQ TROW opened at $104.25 on Wednesday. The business has a fifty day simple moving average of $105.69 and a two-hundred day simple moving average of $99.15. The firm has a market cap of $22.90 billion, a PE ratio of 11.65, a price-to-earnings-growth ratio of 5.72 and a beta of 1.50. T. Rowe Price Group, Inc. has a twelve month low of $77.85 and a twelve month high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last issued its earnings results on Friday, August 1st. The asset manager reported $2.24 earnings per share for the quarter, beating analysts’ consensus estimates of $2.15 by $0.09. The business had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.72 billion. T. Rowe Price Group had a return on equity of 19.77% and a net margin of 28.72%.T. Rowe Price Group’s revenue was down .6% on a year-over-year basis. During the same period in the previous year, the company posted $2.26 EPS. On average, research analysts expect that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current year.

T. Rowe Price Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Monday, September 15th were given a dividend of $1.27 per share. The ex-dividend date of this dividend was Monday, September 15th. This represents a $5.08 dividend on an annualized basis and a yield of 4.9%. T. Rowe Price Group’s payout ratio is 56.76%.

Insiders Place Their Bets

In other T. Rowe Price Group news, Director Robert F. Maclellan sold 3,090 shares of T. Rowe Price Group stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $105.01, for a total transaction of $324,480.90. Following the completion of the sale, the director directly owned 47,335 shares of the company’s stock, valued at $4,970,648.35. The trade was a 6.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.60% of the stock is currently owned by company 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.