T. Rowe Price Group, Inc. (NASDAQ:TROW) Shares Purchased by Blossom Wealth Management

Blossom Wealth Management boosted its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 5.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,513 shares of the asset manager’s stock after buying an additional 125 shares during the period. Blossom Wealth Management’s holdings in T. Rowe Price Group were worth $274,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TROW. Victory Capital Management Inc. lifted its position in T. Rowe Price Group by 3.8% during the second quarter. Victory Capital Management Inc. now owns 3,436,019 shares of the asset manager’s stock valued at $396,207,000 after buying an additional 124,686 shares in the last quarter. American Century Companies Inc. increased its position in shares of T. Rowe Price Group by 4.5% in the 2nd quarter. American Century Companies Inc. now owns 2,512,793 shares of the asset manager’s stock worth $289,750,000 after purchasing an additional 107,086 shares during the last quarter. ProShare Advisors LLC lifted its position in shares of T. Rowe Price Group by 2.5% during the second quarter. ProShare Advisors LLC now owns 1,635,519 shares of the asset manager’s stock worth $188,592,000 after purchasing an additional 40,490 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in T. Rowe Price Group by 15.8% during the second quarter. Dimensional Fund Advisors LP now owns 1,611,307 shares of the asset manager’s stock valued at $185,810,000 after buying an additional 220,105 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its position in shares of T. Rowe Price Group by 0.7% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 654,139 shares of the asset manager’s stock worth $75,429,000 after acquiring an additional 4,701 shares in the last quarter. Hedge funds and other institutional investors own 73.39% of the company’s stock.

Insider Buying and Selling

In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 484 shares of T. Rowe Price Group stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $104.73, for a total value of $50,689.32. Following the transaction, the insider now owns 13,939 shares in the company, valued at approximately $1,459,831.47. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 484 shares of the business’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $104.73, for a total transaction of $50,689.32. Following the sale, the insider now owns 13,939 shares in the company, valued at approximately $1,459,831.47. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $102.83, for a total transaction of $1,230,772.27. Following the completion of the transaction, the vice president now owns 123,624 shares of the company’s stock, valued at approximately $12,712,255.92. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

T. Rowe Price Group Trading Down 1.0 %

Shares of NASDAQ:TROW opened at $112.92 on Wednesday. The company has a 50 day moving average of $107.88 and a 200-day moving average of $111.92. The firm has a market cap of $25.22 billion, a P/E ratio of 13.41, a P/E/G ratio of 1.93 and a beta of 1.41. T. Rowe Price Group, Inc. has a twelve month low of $87.43 and a twelve month high of $122.27.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings results on Friday, July 26th. The asset manager reported $2.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.27 by ($0.01). T. Rowe Price Group had a net margin of 28.66% and a return on equity of 19.90%. The firm had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.79 billion. During the same period in the previous year, the business posted $2.02 earnings per share. The business’s revenue for the quarter was up 7.6% compared to the same quarter last year. Equities research analysts forecast that T. Rowe Price Group, Inc. will post 9.08 EPS for the current year.

T. Rowe Price Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were given a dividend of $1.24 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $4.96 annualized dividend and a dividend yield of 4.39%. T. Rowe Price Group’s dividend payout ratio (DPR) is 58.91%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on TROW. Barclays raised their price objective on T. Rowe Price Group from $99.00 to $101.00 and gave the stock an “underweight” rating in a research note on Monday, October 14th. TD Cowen reduced their price target on shares of T. Rowe Price Group from $123.00 to $118.00 and set a “hold” rating on the stock in a research report on Monday, July 29th. JPMorgan Chase & Co. lifted their price target on shares of T. Rowe Price Group from $102.00 to $107.00 and gave the company an “underweight” rating in a report on Tuesday, July 23rd. The Goldman Sachs Group dropped their price objective on shares of T. Rowe Price Group from $106.00 to $102.00 and set a “sell” rating on the stock in a research note on Thursday, October 3rd. Finally, Morgan Stanley raised their target price on shares of T. Rowe Price Group from $125.00 to $127.00 and gave the stock an “equal weight” rating in a report on Friday, October 18th. Four equities research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $113.00.

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.