T. Rowe Price Group, Inc. (TROW) Shares Bought by Voya Investment Management LLC
Voya Investment Management LLC boosted its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 1.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 224,475 shares of the asset manager’s stock after purchasing an additional 3,102 shares during the period. Voya Investment Management LLC owned about 0.09% of T. Rowe Price Group worth $16,658,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. Bronfman E.L. Rothschild L.P. raised its position in T. Rowe Price Group by 6.9% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 1,593 shares of the asset manager’s stock valued at $118,000 after purchasing an additional 103 shares during the last quarter. Mckinley Capital Management LLC Delaware acquired a new stake in shares of T. Rowe Price Group during the second quarter valued at about $152,000. Mosaic Family Wealth LLC boosted its stake in shares of T. Rowe Price Group by 7.1% during the second quarter. Mosaic Family Wealth LLC now owns 2,107 shares of the asset manager’s stock valued at $156,000 after purchasing an additional 140 shares in the last quarter. Benjamin F. Edwards & Company Inc. boosted its stake in shares of T. Rowe Price Group by 103.0% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,119 shares of the asset manager’s stock valued at $157,000 after purchasing an additional 1,075 shares in the last quarter. Finally, FNY Partners Fund LP acquired a new stake in shares of T. Rowe Price Group during the first quarter valued at about $147,000. 73.62% of the stock is owned by institutional investors and hedge funds.
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Several research firms have recently weighed in on TROW. Goldman Sachs Group, Inc. (The) upgraded T. Rowe Price Group from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $85.00 to $100.00 in a report on Thursday, September 28th. Zacks Investment Research upgraded shares of T. Rowe Price Group from a “hold” rating to a “buy” rating and set a $98.00 price objective for the company in a report on Tuesday, September 26th. Barclays PLC initiated coverage on shares of T. Rowe Price Group in a report on Friday, September 8th. They issued an “underweight” rating and a $79.00 price objective for the company. Jefferies Group LLC reiterated a “buy” rating and set a $96.00 target price on shares of T. Rowe Price Group in a research report on Sunday, August 20th. Finally, BidaskClub upgraded shares of T. Rowe Price Group from a “buy” rating to a “strong-buy” rating in a research report on Monday, August 14th. Four analysts have rated the stock with a sell rating, six have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $83.45.
In related news, Director Anne M. Whittemore sold 8,326 shares of T. Rowe Price Group stock in a transaction on Thursday, July 27th. The shares were sold at an average price of $82.03, for a total value of $682,981.78. Following the transaction, the director now directly owns 28,982 shares of the company’s stock, valued at $2,377,393.46. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Anne M. Whittemore sold 4,163 shares of T. Rowe Price Group stock in a transaction on Friday, September 29th. The stock was sold at an average price of $90.64, for a total transaction of $377,334.32. Following the completion of the transaction, the director now directly owns 29,070 shares in the company, valued at $2,634,904.80. The disclosure for this sale can be found here. Insiders sold 36,924 shares of company stock worth $3,187,333 in the last 90 days. Company insiders own 3.60% of the company’s stock.
T. Rowe Price Group, Inc. (NASDAQ:TROW) opened at 90.92 on Wednesday. T. Rowe Price Group, Inc. has a 52 week low of $62.97 and a 52 week high of $91.19. The company has a market cap of $21.85 billion, a P/E ratio of 15.61 and a beta of 1.25. The company’s 50-day moving average is $84.95 and its 200-day moving average is $76.67.
T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings results on Tuesday, July 25th. The asset manager reported $1.28 EPS for the quarter, topping the Zacks’ consensus estimate of $1.27 by $0.01. T. Rowe Price Group had a return on equity of 24.38% and a net margin of 32.64%. The business had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.16 billion. During the same period in the previous year, the firm earned $0.76 EPS. The business’s quarterly revenue was up 12.1% on a year-over-year basis. On average, analysts anticipate that T. Rowe Price Group, Inc. will post $5.65 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 28th. Stockholders of record on Thursday, September 14th were paid a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.51%. The ex-dividend date of this dividend was Wednesday, September 13th. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 39.18%.
T. Rowe Price Group Company Profile
T. Rowe Price Group, Inc is a financial services holding company. The Company provides global investment management services through its subsidiaries to investors across the world. The Company provides an array of Company sponsored the United States mutual funds, other sponsored pooled investment vehicles, sub advisory services, separate account management, recordkeeping, and related services to individuals, advisors, institutions, financial intermediaries and retirement plan sponsors.
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