Inceptionr LLC Takes $799,000 Position in T. Rowe Price Group, Inc. $TROW

Inceptionr LLC purchased a new position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund purchased 8,279 shares of the asset manager's stock, valued at approximately $799,000.

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A number of other institutional investors and hedge funds have also modified their holdings of TROW. Vanguard Group Inc. grew its holdings in T. Rowe Price Group by 0.5% during the 2nd quarter. Vanguard Group Inc. now owns 26,416,718 shares of the asset manager's stock worth $2,549,213,000 after acquiring an additional 130,325 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of T. Rowe Price Group by 1.8% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 7,846,636 shares of the asset manager's stock valued at $757,200,000 after purchasing an additional 140,385 shares during the period. Geode Capital Management LLC boosted its position in shares of T. Rowe Price Group by 3.4% in the 2nd quarter. Geode Capital Management LLC now owns 6,014,236 shares of the asset manager's stock worth $578,059,000 after purchasing an additional 197,024 shares during the last quarter. Invesco Ltd. boosted its position in shares of T. Rowe Price Group by 43.2% in the 1st quarter. Invesco Ltd. now owns 3,433,684 shares of the asset manager's stock worth $315,453,000 after purchasing an additional 1,035,865 shares during the last quarter. Finally, American Century Companies Inc. grew its stake in shares of T. Rowe Price Group by 4.9% during the first quarter. American Century Companies Inc. now owns 2,955,703 shares of the asset manager's stock worth $271,541,000 after purchasing an additional 138,515 shares during the period. 73.39% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. The Goldman Sachs Group cut their target price on T. Rowe Price Group from $98.00 to $93.00 and set a "sell" rating on the stock in a research note on Tuesday. Zacks Research raised T. Rowe Price Group from a "hold" rating to a "strong-buy" rating in a research note on Friday, October 10th. Bank of America lifted their price objective on shares of T. Rowe Price Group from $91.00 to $97.00 and gave the stock an "underperform" rating in a research note on Thursday, October 2nd. BMO Capital Markets assumed coverage on shares of T. Rowe Price Group in a report on Friday, October 3rd. They set a "market perform" rating and a $108.00 price objective for the company. Finally, JPMorgan Chase & Co. upped their target price on shares of T. Rowe Price Group from $109.00 to $111.00 and gave the company an "underweight" rating in a research note on Monday, November 3rd. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Hold rating and four have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, T. Rowe Price Group presently has a consensus rating of "Reduce" and an average target price of $109.00.

• 10-year yield is below 4.5%...these dividend growth yields aren’t

Check Out Our Latest Report on TROW

Insiders Place Their Bets

In other T. Rowe Price Group news, Director Robert F. Maclellan sold 3,090 shares of the stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $105.01, for a total transaction of $324,480.90. Following the completion of the transaction, the director owned 47,335 shares in the company, valued at approximately $4,970,648.35. This represents a 6.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.00% of the company's stock.

T. Rowe Price Group Stock Performance

Shares of TROW opened at $102.09 on Thursday. The stock has a 50 day simple moving average of $102.98 and a 200 day simple moving average of $101.78. 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 market capitalization of $22.28 billion, a PE ratio of 11.41, a P/E/G ratio of 5.61 and a beta of 1.51.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last announced its quarterly earnings results on Friday, October 31st. The asset manager reported $2.81 earnings per share for the quarter, beating analysts' consensus estimates of $2.55 by $0.26. The firm had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.88 billion. T. Rowe Price Group had a net margin of 28.72% and a return on equity of 19.77%. The business's revenue was up 6.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.57 earnings per share. Equities research analysts predict 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 Tuesday, December 30th. Investors of record on Monday, December 15th will be given a $1.27 dividend. This represents a $5.08 annualized dividend and a yield of 5.0%. The ex-dividend date of this dividend is Monday, December 15th. T. Rowe Price Group's payout ratio is currently 55.34%.

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.

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