Vest Financial LLC Purchases 146,382 Shares of T. Rowe Price Group, Inc. $TROW

Vest Financial LLC lifted its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 31.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 616,351 shares of the asset manager’s stock after purchasing an additional 146,382 shares during the quarter. Vest Financial LLC’s holdings in T. Rowe Price Group were worth $59,478,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Yousif Capital Management LLC boosted its position in shares of T. Rowe Price Group by 3.7% during the second quarter. Yousif Capital Management LLC now owns 90,131 shares of the asset manager’s stock worth $8,698,000 after purchasing an additional 3,187 shares in the last quarter. Bill Few Associates Inc. boosted its position in shares of T. Rowe Price Group by 4.3% during the second quarter. Bill Few Associates Inc. now owns 2,577 shares of the asset manager’s stock worth $249,000 after purchasing an additional 107 shares in the last quarter. CWM LLC raised its holdings in shares of T. Rowe Price Group by 10.0% during the second quarter. CWM LLC now owns 158,888 shares of the asset manager’s stock worth $15,333,000 after acquiring an additional 14,420 shares during the period. OFI Invest Asset Management raised its holdings in shares of T. Rowe Price Group by 78.6% during the second quarter. OFI Invest Asset Management now owns 1,125 shares of the asset manager’s stock worth $109,000 after acquiring an additional 495 shares during the period. Finally, Vanguard Personalized Indexing Management LLC raised its holdings in shares of T. Rowe Price Group by 39.2% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 50,370 shares of the asset manager’s stock worth $4,861,000 after acquiring an additional 14,182 shares during the period. 73.39% of the stock is owned by institutional investors.

Analysts Set New Price Targets

TROW has been the topic of a number of research analyst reports. The Goldman Sachs Group raised their price objective on shares of T. Rowe Price Group from $91.00 to $92.00 and gave the stock a “sell” rating in a report on Friday, October 3rd. JPMorgan Chase & Co. raised their price objective on shares of T. Rowe Price Group from $98.00 to $102.00 and gave the stock an “underweight” rating in a report on Monday, August 4th. Wells Fargo & Company raised their price objective on shares of 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. Morgan Stanley raised their price objective on shares of T. Rowe Price Group from $116.00 to $125.00 and gave the stock a “positive” rating in a report on Monday, October 6th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of T. Rowe Price Group in a report on Wednesday, October 8th. One analyst has rated the stock with a Buy rating, eleven have issued a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, T. Rowe Price Group currently has an average rating of “Reduce” and a consensus target price of $106.15.

Insider Buying and Selling at T. Rowe Price Group

In other news, Director Robert F. Maclellan sold 3,090 shares of the business’s stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $105.01, for a total transaction of $324,480.90. Following the transaction, the director directly owned 47,335 shares in the company, valued at $4,970,648.35. The trade was a 6.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.60% of the stock is owned by corporate insiders.

T. Rowe Price Group Trading Down 4.3%

Shares of TROW stock opened at $101.43 on Monday. T. Rowe Price Group, Inc. has a 1 year low of $77.85 and a 1 year high of $125.81. The firm’s fifty day moving average price is $105.82 and its two-hundred day moving average price is $98.49. The firm has a market capitalization of $22.29 billion, a P/E ratio of 11.33, a PEG ratio of 6.51 and a beta of 1.50.

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

T. Rowe Price Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Monday, September 15th were paid a dividend of $1.27 per share. The ex-dividend date was Monday, September 15th. This represents a $5.08 annualized dividend and a dividend yield of 5.0%. T. Rowe Price Group’s payout ratio is currently 56.76%.

About T. Rowe Price Group

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.