11,545 Shares in T. Rowe Price Group, Inc. $TROW Purchased by Equitable Holdings Inc.

Equitable Holdings Inc. bought a new stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) in the second quarter, Holdings Channel reports. The firm bought 11,545 shares of the asset manager’s stock, valued at approximately $1,313,000.

Several other institutional investors also recently bought and sold shares of the company. SVB Wealth LLC grew its holdings in T. Rowe Price Group by 77.5% during the fourth quarter. SVB Wealth LLC now owns 37,000 shares of the asset manager’s stock valued at $3,788,000 after purchasing an additional 16,155 shares during the last quarter. Generali Asset Management SPA SGR raised its position in shares of T. Rowe Price Group by 1,680.4% in the fourth quarter. Generali Asset Management SPA SGR now owns 17,715 shares of the asset manager’s stock valued at $1,814,000 after purchasing an additional 16,720 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of T. Rowe Price Group by 3.8% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 520,782 shares of the asset manager’s stock worth $54,489,000 after buying an additional 18,952 shares during the last quarter. Twin Tree Management LP bought a new stake in shares of T. Rowe Price Group during the 2nd quarter worth $2,989,000. Finally, Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new stake in shares of T. Rowe Price Group during the 4th quarter worth $5,935,000. 73.39% of the stock is owned by institutional investors and hedge funds.

T. Rowe Price Group Trading Down 1.0%

Shares of TROW stock opened at $111.24 on Friday. The firm has a market capitalization of $23.73 billion, a P/E ratio of 11.16, a price-to-earnings-growth ratio of 3.72 and a beta of 1.47. T. Rowe Price Group, Inc. has a 1 year low of $85.22 and a 1 year high of $122.00. The firm’s fifty day simple moving average is $114.35 and its 200 day simple moving average is $103.34.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings results on Friday, July 31st. The asset manager reported $2.57 earnings per share for the quarter, beating analysts’ consensus estimates of $2.52 by $0.05. The firm had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.89 billion. T. Rowe Price Group had a net margin of 29.26% and a return on equity of 20.91%. The business’s revenue was up 10.7% on a year-over-year basis. During the same period in the prior year, the firm earned $2.24 EPS. Equities research analysts anticipate that T. Rowe Price Group, Inc. will post 10.15 EPS for the current fiscal year.

T. Rowe Price Group Dividend Announcement

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 paid a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 4.7%. The ex-dividend date is Tuesday, September 15th. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 52.16%.

Insider Buying and Selling at T. Rowe Price Group

In related news, VP Joshua B. Nelson sold 10,000 shares of T. Rowe Price Group stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $111.82, for a total transaction of $1,118,200.00. Following the sale, the vice president directly owned 71,328 shares of the company’s stock, valued at $7,975,896.96. This trade represents a 12.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.60% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Morgan Stanley set a $116.00 target price on shares of T. Rowe Price Group in a report on Wednesday, July 29th. TD Cowen upped their price target on shares of T. Rowe Price Group from $107.00 to $108.00 and gave the company a “hold” rating in a report on Monday, August 3rd. Zacks Research downgraded T. Rowe Price Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 13th. Weiss Ratings upgraded T. Rowe Price Group from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, July 2nd. Finally, Evercore set a $118.00 price objective on T. Rowe Price Group in a research report on Monday, August 10th. Ten analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce” and an average target price of $105.67.

T. Rowe Price Group 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.