United Capital Financial Advisors LLC Purchases New Shares in T. Rowe Price Group, Inc. $TROW

United Capital Financial Advisors LLC acquired a new stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 14,322 shares of the asset manager’s stock, valued at approximately $1,628,000.

Other large investors also recently modified their holdings of the company. Equitable Holdings Inc. purchased a new stake in T. Rowe Price Group during the second quarter valued at about $1,313,000. Jefferies Financial Group Inc. purchased a new stake in shares of T. Rowe Price Group during the 2nd quarter valued at $2,286,000. Public Employees Retirement System of Ohio purchased a new position in shares of T. Rowe Price Group in the 2nd quarter worth about $11,366,000. Redwood Investment Management LLC purchased a new position in shares of T. Rowe Price Group during the second quarter worth approximately $1,180,000. Finally, Corient Private Wealth LP bought a new stake in T. Rowe Price Group in the second quarter worth $14,941,000. Hedge funds and other institutional investors own 73.39% of the company’s stock.

Analysts Set New Price Targets

TROW has been the topic of a number of analyst reports. BMO Capital Markets boosted their price objective on shares of T. Rowe Price Group from $110.00 to $120.00 and gave the company a “market perform” rating in a research report on Monday, August 3rd. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $115.00 price objective (down from $120.00) on shares of T. Rowe Price Group in a research report on Monday, August 3rd. Evercore set a $118.00 target price on T. Rowe Price Group in a research note on Monday, August 10th. Morgan Stanley set a $116.00 price target on T. Rowe Price Group in a research note on Wednesday, July 29th. Finally, Weiss Ratings raised shares of T. Rowe Price Group from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, July 2nd. Ten equities research analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce” and an average price target of $105.67.

Insider Buying and Selling

In other news, VP Joshua B. 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 value of $1,118,200.00. Following the sale, the vice president directly owned 71,328 shares of the company’s stock, valued at approximately $7,975,896.96. This represents a 12.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.60% of the company’s stock.

T. Rowe Price Group Price Performance

Shares of NASDAQ TROW opened at $111.24 on Friday. T. Rowe Price Group, Inc. has a 1 year low of $85.22 and a 1 year high of $122.00. The stock has a market cap of $23.73 billion, a P/E ratio of 11.16, a price-to-earnings-growth ratio of 3.68 and a beta of 1.47. The firm has a 50-day moving average of $114.35 and a 200 day moving average of $103.34.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings data on Friday, July 31st. The asset manager reported $2.57 earnings per share for the quarter, topping analysts’ consensus estimates 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 business had revenue of $1.91 billion for the quarter, compared to analysts’ expectations of $1.89 billion. During the same quarter in the prior year, the company earned $2.24 earnings per share. The business’s revenue was up 10.7% compared to the same quarter last year. Research analysts expect that T. Rowe Price Group, Inc. will post 10.15 earnings per share for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 15th will be paid 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 yield of 4.7%. T. Rowe Price Group’s payout ratio is presently 52.16%.

T. Rowe Price Group Profile

T. Rowe Price Group, Inc is a global investment management firm headquartered in Baltimore, Maryland, founded by Thomas Rowe Price Jr. in 1937. The company provides a broad range of investment products and services for individual investors, financial intermediaries, retirement plan sponsors and institutional clients. Its offerings are built around active investment management and in-house research across equity, fixed income and multi-asset strategies, reflecting a long history as a research-driven asset manager.

The firm’s product lineup includes mutual funds, separate accounts, collective investment trusts, target-date and target-risk funds, and managed account solutions, as well as services for defined contribution and defined benefit retirement plans.