L.K. Benson & Company P.C. Raises Stock Position in T. Rowe Price Group, Inc. $TROW

L.K. Benson & Company P.C. increased its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 0.2% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 324,512 shares of the asset manager’s stock after purchasing an additional 567 shares during the period. T. Rowe Price Group makes up approximately 19.2% of L.K. Benson & Company P.C.’s holdings, making the stock its largest position. L.K. Benson & Company P.C. owned 0.15% of T. Rowe Price Group worth $31,315,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in TROW. Windle Wealth LLC grew its position in T. Rowe Price Group by 13.6% during the 2nd quarter. Windle Wealth LLC now owns 73,624 shares of the asset manager’s stock worth $7,105,000 after acquiring an additional 8,832 shares during the last quarter. Capital Management Associates Inc acquired a new stake in T. Rowe Price Group during the 2nd quarter worth $444,000. PARK CIRCLE Co raised its stake in T. Rowe Price Group by 7.8% during the 2nd quarter. PARK CIRCLE Co now owns 69,345 shares of the asset manager’s stock worth $6,692,000 after buying an additional 5,000 shares during the period. Abel Hall LLC acquired a new stake in shares of T. Rowe Price Group in the 2nd quarter valued at about $388,000. Finally, Independent Solutions Wealth Management LLC acquired a new stake in shares of T. Rowe Price Group in the second quarter valued at about $208,000. Institutional investors and hedge funds own 73.39% of the company’s stock.

Insider Buying and Selling at T. Rowe Price Group

In related news, Director Robert F. Maclellan sold 3,090 shares of the stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $105.01, for a total transaction of $324,480.90. Following the sale, the director directly owned 47,335 shares of the company’s stock, valued at approximately $4,970,648.35. This represents a 6.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 2.00% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on TROW shares. Weiss Ratings restated a “hold (c)” rating on shares of T. Rowe Price Group in a report on Wednesday. Keefe, Bruyette & Woods boosted 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 research note on Monday, August 4th. Evercore ISI reiterated a “positive” rating on shares of T. Rowe Price Group in a report on Friday, September 5th. JPMorgan Chase & Co. increased their price objective on shares of T. Rowe Price Group from $98.00 to $102.00 and gave the company an “underweight” rating in a research note on Monday, August 4th. Finally, Jefferies Financial Group increased their target price on shares of T. Rowe Price Group from $104.00 to $106.00 and gave the company a “hold” rating in a research report on Tuesday. Two research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Reduce” and an average price target of $104.92.

T. Rowe Price Group Stock Up 0.0%

Shares of T. Rowe Price Group stock opened at $105.82 on Thursday. T. Rowe Price Group, Inc. has a twelve month low of $77.85 and a twelve month high of $125.81. The company has a market cap of $23.25 billion, a price-to-earnings ratio of 11.82, a price-to-earnings-growth ratio of 6.82 and a beta of 1.50. The company’s 50 day moving average is $105.76 and its 200 day moving average is $98.32.

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 for the quarter, compared to the consensus estimate of $1.72 billion. During the same period last year, the firm earned $2.26 EPS. The company’s revenue was down .6% on a year-over-year basis. Sell-side 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 declared a quarterly dividend, which was paid on Monday, September 29th. Shareholders 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 dividend on an annualized basis and a yield of 4.8%. T. Rowe Price Group’s dividend payout ratio is presently 56.76%.

T. Rowe Price Group Company 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.