Massmutual Trust Co. FSB ADV Buys 610 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Massmutual Trust Co. FSB ADV raised its stake in T. Rowe Price Group, Inc. (NASDAQ:TROWGet Rating) by 167.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 975 shares of the asset manager’s stock after buying an additional 610 shares during the period. Massmutual Trust Co. FSB ADV’s holdings in T. Rowe Price Group were worth $111,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Covestor Ltd bought a new stake in shares of T. Rowe Price Group in the 4th quarter valued at about $27,000. Equitable Holdings Inc. bought a new stake in shares of T. Rowe Price Group in the 4th quarter valued at about $454,000. Renaissance Technologies LLC bought a new stake in shares of T. Rowe Price Group in the 4th quarter valued at about $7,522,000. Invesco Ltd. lifted its stake in shares of T. Rowe Price Group by 14.5% in the 4th quarter. Invesco Ltd. now owns 1,365,015 shares of the asset manager’s stock valued at $268,416,000 after acquiring an additional 172,734 shares during the last quarter. Finally, Schroder Investment Management Group lifted its stake in shares of T. Rowe Price Group by 36.1% in the 4th quarter. Schroder Investment Management Group now owns 770,866 shares of the asset manager’s stock valued at $151,584,000 after acquiring an additional 204,579 shares during the last quarter. Institutional investors own 74.94% of the company’s stock.

T. Rowe Price Group Stock Performance

Shares of NASDAQ:TROW opened at $113.92 on Tuesday. T. Rowe Price Group, Inc. has a 52-week low of $104.72 and a 52-week high of $223.36. The firm has a market capitalization of $25.71 billion, a P/E ratio of 11.00, a P/E/G ratio of 2.26 and a beta of 1.29. The stock has a 50 day moving average price of $121.64 and a 200-day moving average price of $127.25.

T. Rowe Price Group (NASDAQ:TROWGet Rating) last announced its earnings results on Thursday, July 28th. The asset manager reported $1.79 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.64 by ($0.85). T. Rowe Price Group had a return on equity of 28.18% and a net margin of 33.26%. The firm had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.68 billion. During the same period in the prior year, the company posted $3.31 EPS. The firm’s revenue was down 20.4% on a year-over-year basis. On average, equities analysts forecast that T. Rowe Price Group, Inc. will post 8.24 EPS for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 29th. Investors of record on Thursday, September 15th will be paid a $1.20 dividend. The ex-dividend date is Wednesday, September 14th. This represents a $4.80 annualized dividend and a dividend yield of 4.21%. T. Rowe Price Group’s payout ratio is currently 46.33%.

Insider Buying and Selling

In related news, insider Jessica M. Hiebler sold 959 shares of the company’s stock in a transaction that occurred on Tuesday, August 2nd. The stock was sold at an average price of $124.57, for a total value of $119,462.63. Following the sale, the insider now owns 12,183 shares in the company, valued at approximately $1,517,636.31. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, VP Andrew Justin Mackenzi Thomson sold 11,891 shares of the company’s stock in a transaction that occurred on Thursday, August 4th. The stock was sold at an average price of $126.91, for a total value of $1,509,086.81. Following the sale, the vice president now owns 136,410 shares in the company, valued at approximately $17,311,793.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jessica M. Hiebler sold 959 shares of the stock in a transaction on Tuesday, August 2nd. The shares were sold at an average price of $124.57, for a total value of $119,462.63. Following the sale, the insider now owns 12,183 shares in the company, valued at $1,517,636.31. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft boosted their target price on T. Rowe Price Group from $120.00 to $138.00 and gave the company a “hold” rating in a research note on Friday, August 12th. UBS Group lowered their price target on T. Rowe Price Group from $88.00 to $84.00 and set a “sell” rating for the company in a research report on Friday, July 29th. TheStreet lowered T. Rowe Price Group from a “b-” rating to a “c” rating in a research report on Wednesday, July 13th. The Goldman Sachs Group lowered their price target on T. Rowe Price Group from $118.00 to $100.00 and set a “sell” rating for the company in a research report on Wednesday, June 29th. Finally, Morgan Stanley lowered their price target on T. Rowe Price Group from $124.00 to $123.00 and set an “equal weight” rating for the company in a research report on Friday, July 29th. Five analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $132.30.

T. Rowe Price Group Profile

(Get Rating)

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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Institutional Ownership by Quarter for T. Rowe Price Group (NASDAQ:TROW)

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