Steigerwald Gordon & Koch Inc. Raises Stock Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Steigerwald Gordon & Koch Inc. boosted its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 3.5% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 114,778 shares of the asset manager’s stock after acquiring an additional 3,882 shares during the period. Steigerwald Gordon & Koch Inc. owned about 0.05% of T. Rowe Price Group worth $13,235,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of TROW. Lynx Investment Advisory acquired a new position in shares of T. Rowe Price Group during the second quarter valued at approximately $29,000. First United Bank & Trust acquired a new stake in T. Rowe Price Group during the 4th quarter worth $31,000. Family Firm Inc. purchased a new stake in shares of T. Rowe Price Group during the second quarter worth $36,000. Versant Capital Management Inc lifted its stake in shares of T. Rowe Price Group by 660.5% in the second quarter. Versant Capital Management Inc now owns 327 shares of the asset manager’s stock worth $38,000 after buying an additional 284 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its stake in T. Rowe Price Group by 93.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 331 shares of the asset manager’s stock valued at $40,000 after acquiring an additional 160 shares in the last quarter. Institutional investors and hedge funds own 73.39% of the company’s stock.

T. Rowe Price Group Stock Down 0.4 %

T. Rowe Price Group stock traded down $0.42 during trading on Tuesday, reaching $103.12. The stock had a trading volume of 21,216 shares, compared to its average volume of 1,265,197. The stock has a market cap of $22.95 billion, a PE ratio of 12.30, a P/E/G ratio of 1.62 and a beta of 1.41. The business has a 50 day moving average price of $110.47 and a 200 day moving average price of $113.70. T. Rowe Price Group, Inc. has a 52-week low of $87.43 and a 52-week high of $122.27.

T. Rowe Price Group (NASDAQ:TROW) last issued its earnings results on Friday, July 26th. The asset manager reported $2.26 earnings per share for the quarter, missing the consensus estimate of $2.27 by ($0.01). The business had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.79 billion. T. Rowe Price Group had a return on equity of 19.90% and a net margin of 28.66%. T. Rowe Price Group’s revenue was up 7.6% on a year-over-year basis. During the same period last year, the business posted $2.02 EPS. On average, equities analysts predict that T. Rowe Price Group, Inc. will post 9 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 Friday, September 27th. Shareholders of record on Friday, September 13th will be paid a $1.24 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $4.96 annualized dividend and a yield of 4.81%. T. Rowe Price Group’s dividend payout ratio is presently 58.91%.

Insiders Place Their Bets

In related news, insider Jessica M. Hiebler sold 1,401 shares of the stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $115.85, for a total transaction of $162,305.85. Following the completion of the sale, the insider now owns 14,198 shares in the company, valued at approximately $1,644,838.30. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the business’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $102.83, for a total value of $1,230,772.27. Following the sale, the vice president now directly owns 123,624 shares in the company, valued at approximately $12,712,255.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Jessica M. Hiebler sold 1,401 shares of T. Rowe Price Group stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $115.85, for a total value of $162,305.85. Following the transaction, the insider now owns 14,198 shares of the company’s stock, valued at $1,644,838.30. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 15,370 shares of company stock valued at $1,627,078. 2.00% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on TROW shares. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $120.00 target price (down from $121.00) on shares of T. Rowe Price Group in a research note on Monday, July 29th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the company a “hold” rating in a report on Thursday, August 15th. TD Cowen lowered their price objective on T. Rowe Price Group from $123.00 to $118.00 and set a “hold” rating for the company in a research report on Monday, July 29th. Evercore ISI reduced their target price on T. Rowe Price Group from $115.00 to $108.00 and set an “in-line” rating on the stock in a research report on Thursday, September 5th. Finally, Barclays assumed coverage on shares of T. Rowe Price Group in a report on Tuesday, August 27th. They issued an “underweight” rating and a $99.00 price objective on the stock. Four analysts have rated the stock with a sell rating and seven have given a hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $113.20.

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.