Campbell & CO Investment Adviser LLC purchased a new position in shares of T. Rowe Price Group Inc (NASDAQ:TROW) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 2,511 shares of the asset manager’s stock, valued at approximately $292,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Signaturefd LLC purchased a new stake in T. Rowe Price Group during the 1st quarter worth about $111,000. Perigon Wealth Management LLC increased its holdings in T. Rowe Price Group by 57.5% during the 1st quarter. Perigon Wealth Management LLC now owns 1,284 shares of the asset manager’s stock worth $139,000 after purchasing an additional 469 shares during the period. Summit Trail Advisors LLC increased its holdings in T. Rowe Price Group by 23,361.8% during the 1st quarter. Summit Trail Advisors LLC now owns 179,483 shares of the asset manager’s stock worth $179,000 after purchasing an additional 178,718 shares during the period. Synovus Financial Corp purchased a new stake in T. Rowe Price Group during the 1st quarter worth about $198,000. Finally, Bailard Inc. purchased a new stake in T. Rowe Price Group during the 1st quarter worth about $200,000. Institutional investors own 72.07% of the company’s stock.

Several equities research analysts have weighed in on TROW shares. Zacks Investment Research downgraded T. Rowe Price Group from a “hold” rating to a “sell” rating in a report on Thursday, April 12th. Credit Suisse Group upped their price objective on T. Rowe Price Group from $123.00 to $128.00 and gave the stock a “neutral” rating in a research report on Thursday, April 5th. Deutsche Bank lowered their price objective on T. Rowe Price Group from $116.00 to $114.00 and set a “hold” rating for the company in a research report on Friday, April 6th. Barclays upped their price objective on T. Rowe Price Group from $101.00 to $105.00 and gave the stock an “underweight” rating in a research report on Monday, April 23rd. Finally, Wells Fargo & Co upped their price objective on T. Rowe Price Group from $114.00 to $124.00 and gave the stock a “market perform” rating in a research report on Friday, July 13th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $115.73.

T. Rowe Price Group opened at $120.41 on Wednesday, MarketBeat Ratings reports. The stock has a market cap of $28.87 billion, a PE ratio of 22.17, a price-to-earnings-growth ratio of 1.51 and a beta of 1.22. T. Rowe Price Group Inc has a 1 year low of $79.78 and a 1 year high of $127.43.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings data on Wednesday, April 25th. The asset manager reported $1.74 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.65 by $0.09. The business had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.28 billion. T. Rowe Price Group had a return on equity of 26.93% and a net margin of 31.10%. The business’s quarterly revenue was up 17.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.18 EPS. equities research analysts predict that T. Rowe Price Group Inc will post 7.12 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, June 29th. Investors of record on Friday, June 15th were given a $0.70 dividend. The ex-dividend date of this dividend was Thursday, June 14th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.33%. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 51.57%.

T. Rowe Price Group announced that its Board of Directors has initiated a share repurchase plan on Thursday, April 26th that permits the company to repurchase 10,000,000 shares. This repurchase authorization permits the asset manager to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

In related news, CEO William J. Stromberg sold 21,000 shares of the company’s stock in a transaction dated Tuesday, June 12th. The stock was sold at an average price of $125.48, for a total value of $2,635,080.00. Following the completion of the sale, the chief executive officer now directly owns 539,020 shares of the company’s stock, valued at approximately $67,636,229.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Robert F. Maclellan sold 5,000 shares of the company’s stock in a transaction dated Wednesday, May 30th. The shares were sold at an average price of $122.58, for a total value of $612,900.00. Following the completion of the sale, the director now directly owns 13,769 shares of the company’s stock, valued at $1,687,804.02. The disclosure for this sale can be found here. Over the last three months, insiders sold 102,000 shares of company stock valued at $12,746,220. Insiders own 3.10% of the company’s stock.

T. Rowe Price Group Company 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.

Further Reading: Book Value Of Equity Per Share – BVPS Explained

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

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