Versor Investments LP Takes $899,000 Position in T. Rowe Price Group, Inc. $TROW

Versor Investments LP acquired a new stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 9,782 shares of the asset manager’s stock, valued at approximately $899,000.

A number of other institutional investors also recently modified their holdings of the company. Zions Bancorporation National Association UT bought a new position in T. Rowe Price Group during the first quarter worth $27,000. Hexagon Capital Partners LLC boosted its stake in T. Rowe Price Group by 44.8% during the first quarter. Hexagon Capital Partners LLC now owns 365 shares of the asset manager’s stock worth $34,000 after acquiring an additional 113 shares in the last quarter. Smallwood Wealth Investment Management LLC bought a new position in T. Rowe Price Group during the first quarter worth $39,000. Chilton Capital Management LLC bought a new position in T. Rowe Price Group during the first quarter worth $41,000. Finally, Ameriflex Group Inc. bought a new position in T. Rowe Price Group during the fourth quarter worth $42,000. 73.39% of the stock is owned by institutional investors.

Insider Transactions at T. Rowe Price Group

In related news, VP Dorothy C. Sawyer sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $95.43, for a total transaction of $190,860.00. Following the completion of the sale, the vice president owned 44,789 shares in the company, valued at approximately $4,274,214.27. This trade represents a 4.27% decrease in their ownership of the stock. The transaction was disclosed in a 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 TROW stock opened at $106.64 on Tuesday. The firm has a 50-day moving average of $101.17 and a 200-day moving average of $97.61. The company has a market cap of $23.43 billion, a P/E ratio of 11.92, a P/E/G ratio of 2.91 and a beta of 1.47. T. Rowe Price Group, Inc. has a one year low of $77.85 and a one year high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last announced its earnings results on Friday, August 1st. The asset manager reported $2.24 EPS for the quarter, beating the consensus estimate of $2.15 by $0.09. The company had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.72 billion. T. Rowe Price Group had a net margin of 28.72% and a return on equity of 19.77%. The firm’s revenue for the quarter was down .6% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.26 earnings per share. As a group, research analysts expect that T. Rowe Price Group, Inc. will post 9.29 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 Monday, September 29th. Investors of record on Monday, September 15th will be issued a dividend of $1.27 per share. This represents a $5.08 dividend on an annualized basis and a yield of 4.8%. The ex-dividend date is Monday, September 15th. T. Rowe Price Group’s dividend payout ratio (DPR) is 56.76%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on TROW. Evercore ISI increased their target price on shares of T. Rowe Price Group from $106.00 to $110.00 and gave the stock an “in-line” rating in a research note on Monday, August 4th. JPMorgan Chase & Co. increased their target price on shares of T. Rowe Price Group from $98.00 to $102.00 and gave the stock an “underweight” rating in a research note on Monday, August 4th. Cowen restated a “hold” rating on shares of T. Rowe Price Group in a report on Monday, May 5th. Wells Fargo & Company upped 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. Finally, Keefe, Bruyette & Woods upped their price objective on shares of T. Rowe Price Group from $110.00 to $112.00 and gave the stock a “market perform” rating in a report on Monday, August 4th. Four investment analysts have rated the stock with a sell rating and nine have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $101.09.

T. Rowe Price Group 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.