Exeter Financial LLC Boosts Holdings in T. Rowe Price Group, Inc. $TROW

Exeter Financial LLC lifted its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 7.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,115 shares of the asset manager’s stock after buying an additional 1,983 shares during the period. Exeter Financial LLC’s holdings in T. Rowe Price Group were worth $2,713,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Zions Bancorporation National Association UT purchased a new position in T. Rowe Price Group during the 1st quarter worth $27,000. Ameriflex Group Inc. purchased a new position in T. Rowe Price Group during the 4th quarter worth $42,000. Hexagon Capital Partners LLC grew its position in T. Rowe Price Group by 44.8% during the 1st quarter. Hexagon Capital Partners LLC now owns 365 shares of the asset manager’s stock worth $34,000 after purchasing an additional 113 shares during the last quarter. Smallwood Wealth Investment Management LLC purchased a new position in T. Rowe Price Group during the 1st quarter worth $39,000. Finally, Chilton Capital Management LLC purchased a new position in T. Rowe Price Group during the 1st quarter worth $41,000. 73.39% of the stock is owned by hedge funds and other institutional investors.

T. Rowe Price Group Stock Down 1.2%

Shares of NASDAQ TROW opened at $103.45 on Thursday. T. Rowe Price Group, Inc. has a 52 week low of $77.85 and a 52 week high of $125.81. The firm has a 50-day moving average price of $106.24 and a 200 day moving average price of $97.67. The stock has a market capitalization of $22.73 billion, a price-to-earnings ratio of 11.56, a price-to-earnings-growth ratio of 2.71 and a beta of 1.51.

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

T. Rowe Price Group Announces Dividend

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 paid a $1.27 dividend. The ex-dividend date is Monday, September 15th. This represents a $5.08 annualized dividend and a dividend yield of 4.9%. T. Rowe Price Group’s dividend payout ratio (DPR) is 56.76%.

Insider Activity at T. Rowe Price Group

In related news, Director Robert F. Maclellan sold 3,090 shares of the firm’s stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $105.01, for a total value of $324,480.90. Following the completion of the sale, the director owned 47,335 shares in the company, valued at $4,970,648.35. This trade represents a 6.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.00% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Evercore ISI reissued a “positive” rating on shares of T. Rowe Price Group in a research report on Friday, September 5th. Barclays reissued an “underweight” rating and set a $95.00 price objective (up from $91.00) on shares of T. Rowe Price Group in a research report on Monday, August 4th. Zacks Research cut shares of T. Rowe Price Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 8th. JPMorgan Chase & Co. raised 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. Finally, Keefe, Bruyette & Woods raised their target price on shares of T. Rowe Price Group from $110.00 to $112.00 and gave the stock a “market perform” rating in a research note on Monday, August 4th. One equities research analyst has rated the stock with a Buy rating, eight have given a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, T. Rowe Price Group presently has an average rating of “Reduce” and a consensus target price of $101.55.

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.