Kintra Wealth LLC Purchases 18,664 Shares of T. Rowe Price Group, Inc. $TROW

Kintra Wealth LLC grew its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 31.7% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 77,486 shares of the asset manager’s stock after purchasing an additional 18,664 shares during the quarter. Kintra Wealth LLC’s holdings in T. Rowe Price Group were worth $8,624,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. TD Private Client Wealth LLC boosted its holdings in shares of T. Rowe Price Group by 91.8% in the fourth quarter. TD Private Client Wealth LLC now owns 257 shares of the asset manager’s stock worth $26,000 after buying an additional 123 shares during the last quarter. DV Equities LLC purchased a new stake in T. Rowe Price Group during the fourth quarter valued at approximately $32,000. Bank & Trust Co raised its position in T. Rowe Price Group by 52.4% in the second quarter. Bank & Trust Co now owns 314 shares of the asset manager’s stock worth $36,000 after acquiring an additional 108 shares during the period. Motiv8 Investments LLC bought a new position in T. Rowe Price Group in the fourth quarter worth approximately $35,000. Finally, Keating Financial Advisory Services Inc. bought a new stake in shares of T. Rowe Price Group during the 2nd quarter valued at $39,000. Institutional investors own 73.39% of the company’s stock.

Insider Buying and Selling at T. Rowe Price Group

In related news, VP Joshua Nelson sold 10,000 shares of the firm’s stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $111.82, for a total transaction of $1,118,200.00. Following the completion of the transaction, the vice president directly owned 71,328 shares of the company’s stock, valued at approximately $7,975,896.96. This trade represents a 12.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 1.60% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $115.00 price objective (down from $120.00) on shares of T. Rowe Price Group in a research note on Monday, August 3rd. Zacks Research lowered T. Rowe Price Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 13th. BMO Capital Markets upped their price target on T. Rowe Price Group from $110.00 to $120.00 and gave the stock a “market perform” rating in a research report on Monday, August 3rd. Weiss Ratings raised T. Rowe Price Group from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday. Finally, UBS Group set a $110.00 price objective on T. Rowe Price Group in a research report on Monday, August 31st. One investment analyst has rated the stock with a Buy rating, nine have issued a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Reduce” and a consensus price target of $106.15.

T. Rowe Price Group Stock Down 1.0%

Shares of T. Rowe Price Group stock opened at $109.78 on Friday. The stock’s 50-day simple moving average is $114.64 and its 200-day simple moving average is $103.88. T. Rowe Price Group, Inc. has a 52 week low of $85.22 and a 52 week high of $122.00. The company has a market capitalization of $23.42 billion, a price-to-earnings ratio of 11.01, a PEG ratio of 3.63 and a beta of 1.46.

T. Rowe Price Group (NASDAQ:TROW) last released its earnings results on Friday, July 31st. The asset manager reported $2.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.52 by $0.05. T. Rowe Price Group had a return on equity of 20.91% and a net margin of 29.26%.The firm had revenue of $1.91 billion during the quarter, compared to analysts’ expectations of $1.89 billion. During the same quarter last year, the business posted $2.24 earnings per share. The firm’s revenue was up 10.7% on a year-over-year basis. On average, equities analysts expect that T. Rowe Price Group, Inc. will post 10.16 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th will be given a dividend of $1.30 per share. The ex-dividend date is Tuesday, September 15th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.7%. T. Rowe Price Group’s dividend payout ratio is currently 52.16%.

T. Rowe Price Group Company Profile

T. Rowe Price Group, Inc is a global investment management firm headquartered in Baltimore, Maryland, founded by Thomas Rowe Price Jr. in 1937. The company provides a broad range of investment products and services for individual investors, financial intermediaries, retirement plan sponsors and institutional clients. Its offerings are built around active investment management and in-house research across equity, fixed income and multi-asset strategies, reflecting a long history as a research-driven asset manager.

The firm’s product lineup includes mutual funds, separate accounts, collective investment trusts, target-date and target-risk funds, and managed account solutions, as well as services for defined contribution and defined benefit retirement plans.