T. Rowe Price Group, Inc. $TROW Shares Purchased by Tidal Investments LLC

Tidal Investments LLC boosted its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 91.2% during the 2nd quarter, Holdings Channel.com reports. The firm owned 34,812 shares of the asset manager’s stock after acquiring an additional 16,603 shares during the period. Tidal Investments LLC’s holdings in T. Rowe Price Group were worth $3,958,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. California State Teachers Retirement System grew its position in shares of T. Rowe Price Group by 10,632.8% during the second quarter. California State Teachers Retirement System now owns 45,287,275 shares of the asset manager’s stock worth $5,148,710,000 after buying an additional 44,865,323 shares in the last quarter. BlackRock Inc. acquired a new stake in T. Rowe Price Group in the second quarter valued at approximately $2,728,119,000. Goldman Sachs Group Inc. raised its holdings in T. Rowe Price Group by 332.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 8,770,071 shares of the asset manager’s stock valued at $897,880,000 after acquiring an additional 6,740,172 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in T. Rowe Price Group by 20.0% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,150,561 shares of the asset manager’s stock worth $358,187,000 after acquiring an additional 524,544 shares during the last quarter. Finally, First Trust Advisors LP grew its holdings in T. Rowe Price Group by 12.6% during the 1st quarter. First Trust Advisors LP now owns 3,694,171 shares of the asset manager’s stock worth $332,993,000 after acquiring an additional 413,317 shares in the last quarter. Hedge funds and other institutional investors own 73.39% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $109.00 price objective on shares of T. Rowe Price Group in a research report on Monday, August 3rd. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $115.00 target price (down from $120.00) on shares of T. Rowe Price Group in a research note on Monday, August 3rd. Morgan Stanley set a $116.00 target price on T. Rowe Price Group in a report on Wednesday, July 29th. The Goldman Sachs Group raised their price target on T. Rowe Price Group from $90.00 to $92.00 and gave the company a “sell” rating in a research note on Tuesday, June 30th. Finally, TD Cowen upped their price objective on T. Rowe Price Group from $108.00 to $110.00 and gave the stock a “hold” rating in a research report on Monday, August 31st. One analyst has rated the stock with a Buy rating, nine have given a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat, T. Rowe Price Group currently has a consensus rating of “Reduce” and a consensus target price of $106.15.

Insider Buying and Selling at T. Rowe Price Group

In other news, VP Joshua Nelson sold 10,000 shares of the business’s stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $111.82, for a total value of $1,118,200.00. Following the completion of the sale, the vice president directly owned 71,328 shares of the company’s stock, valued at approximately $7,975,896.96. The trade was a 12.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.60% of the company’s stock.

T. Rowe Price Group Trading Down 0.5%

Shares of T. Rowe Price Group stock opened at $105.80 on Tuesday. The company has a fifty day simple moving average of $113.56 and a 200-day simple moving average of $104.52. The stock has a market cap of $22.57 billion, a price-to-earnings ratio of 10.61, a PEG ratio of 3.52 and a beta of 1.46. T. Rowe Price Group, Inc. has a 12-month low of $85.22 and a 12-month high of $122.00.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings results on Friday, July 31st. The asset manager reported $2.57 EPS for the quarter, topping the consensus estimate of $2.52 by $0.05. T. Rowe Price Group had a net margin of 29.26% and a return on equity of 20.91%. The firm had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.89 billion. During the same period last year, the business earned $2.24 EPS. T. Rowe Price Group’s revenue for the quarter was up 10.7% compared to the same quarter last year. On average, analysts forecast that T. Rowe Price Group, Inc. will post 10.16 earnings per share for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 15th will be given a dividend of $1.30 per share. The ex-dividend date is Tuesday, September 15th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.9%. T. Rowe Price Group’s payout ratio is 52.16%.

T. Rowe Price Group Profile

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.