T. Rowe Price Group, Inc. $TROW Stock Holdings Lifted by Blume Capital Management Inc.

Blume Capital Management Inc. increased its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 808.8% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 7,725 shares of the asset manager’s stock after purchasing an additional 6,875 shares during the period. Blume Capital Management Inc.’s holdings in T. Rowe Price Group were worth $745,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Zions Bancorporation National Association UT acquired a new stake in shares of T. Rowe Price Group in the first quarter worth $27,000. Hexagon Capital Partners LLC raised its position 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 valued at $34,000 after buying an additional 113 shares during the period. Smallwood Wealth Investment Management LLC purchased a new stake in T. Rowe Price Group in the 1st quarter worth about $39,000. Chilton Capital Management LLC acquired a new stake in T. Rowe Price Group during the 1st quarter worth about $41,000. Finally, Cromwell Holdings LLC grew its stake in T. Rowe Price Group by 3,483.3% during the 2nd quarter. Cromwell Holdings LLC now owns 430 shares of the asset manager’s stock valued at $41,000 after acquiring an additional 418 shares in the last quarter. 73.39% of the stock is currently owned by hedge funds and other institutional investors.

T. Rowe Price Group Price Performance

Shares of NASDAQ:TROW opened at $104.25 on Wednesday. The stock has a market capitalization of $22.90 billion, a P/E ratio of 11.65, a P/E/G ratio of 5.72 and a beta of 1.50. The business has a 50-day moving average of $105.69 and a two-hundred day moving average of $99.15. T. Rowe Price Group, Inc. has a fifty-two week low of $77.85 and a fifty-two week high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings data on Friday, August 1st. The asset manager reported $2.24 EPS for the quarter, beating analysts’ consensus estimates of $2.15 by $0.09. T. Rowe Price Group had a return on equity of 19.77% and a net margin of 28.72%.The business had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.72 billion. During the same quarter in the prior year, the firm posted $2.26 EPS. The firm’s revenue for the quarter was down .6% on a year-over-year basis. As a group, 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 company also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Monday, September 15th were paid a $1.27 dividend. This represents a $5.08 dividend on an annualized basis and a dividend yield of 4.9%. The ex-dividend date was Monday, September 15th. T. Rowe Price Group’s payout ratio is presently 56.76%.

Insider Activity

In related news, Director Robert F. Maclellan sold 3,090 shares of the firm’s stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $105.01, for a total value of $324,480.90. Following the transaction, the director directly owned 47,335 shares in the company, valued at approximately $4,970,648.35. This trade represents a 6.13% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 1.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on TROW. Deutsche Bank Aktiengesellschaft increased their price target on shares of T. Rowe Price Group from $109.00 to $114.00 and gave the stock a “hold” rating in a research report on Thursday, October 9th. Barclays increased their target price on shares of T. Rowe Price Group from $95.00 to $103.00 and gave the stock an “underweight” rating in a research report on Tuesday. BMO Capital Markets began coverage on shares of T. Rowe Price Group in a research note on Friday, October 3rd. They set a “market perform” rating and a $108.00 target price for the company. Zacks Research raised shares of T. Rowe Price Group from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 10th. Finally, Jefferies Financial Group increased their price objective on T. Rowe Price Group from $104.00 to $106.00 and gave the stock a “hold” rating in a report on Tuesday, October 7th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, ten have assigned a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat.com, T. Rowe Price Group currently has a consensus rating of “Reduce” and a consensus target price of $107.54.

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.