Verdence Capital Advisors LLC Raises Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Verdence Capital Advisors LLC lifted its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 1.5% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 25,150 shares of the asset manager’s stock after buying an additional 381 shares during the quarter. Verdence Capital Advisors LLC’s holdings in T. Rowe Price Group were worth $2,900,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in TROW. Lynx Investment Advisory acquired a new position in T. Rowe Price Group in the second quarter valued at approximately $29,000. First United Bank & Trust acquired a new position in T. Rowe Price Group in the fourth quarter valued at $31,000. Family Firm Inc. purchased a new position in shares of T. Rowe Price Group during the second quarter worth about $36,000. Versant Capital Management Inc increased its position in shares of T. Rowe Price Group by 660.5% during the second quarter. Versant Capital Management Inc now owns 327 shares of the asset manager’s stock worth $38,000 after purchasing an additional 284 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of T. Rowe Price Group by 93.6% in the 1st quarter. EverSource Wealth Advisors LLC now owns 331 shares of the asset manager’s stock valued at $40,000 after purchasing an additional 160 shares during the last quarter. 73.39% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at T. Rowe Price Group

In related news, insider Jessica M. Hiebler sold 1,401 shares of the stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $115.85, for a total transaction of $162,305.85. Following the transaction, the insider now directly owns 14,198 shares in the company, valued at $1,644,838.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 1,401 shares of the company’s stock in a transaction dated Thursday, June 27th. The stock was 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 directly owns 14,198 shares in the company, valued at $1,644,838.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Dorothy C. Sawyer sold 2,000 shares of T. Rowe Price Group stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $117.00, for a total value of $234,000.00. Following the completion of the transaction, the vice president now directly owns 34,710 shares in the company, valued at $4,061,070. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on TROW. Deutsche Bank Aktiengesellschaft lifted their price target on T. Rowe Price Group from $112.00 to $113.00 and gave the stock a “hold” rating in a research report on Thursday, August 15th. Evercore ISI lowered their price objective on shares of T. Rowe Price Group from $110.00 to $107.00 and set an “in-line” rating on the stock in a research report on Tuesday, April 30th. StockNews.com downgraded shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $120.00 price objective (down from $121.00) on shares of T. Rowe Price Group in a research note on Monday, July 29th. Finally, TD Cowen lowered their target price on T. Rowe Price Group from $123.00 to $118.00 and set a “hold” rating on the stock in a research note on Monday, July 29th. Three equities research analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $114.67.

T. Rowe Price Group Stock Down 0.3 %

Shares of TROW traded down $0.34 on Monday, reaching $109.28. The stock had a trading volume of 954,947 shares, compared to its average volume of 1,273,584. The firm has a 50-day moving average of $112.99 and a 200 day moving average of $113.92. The firm has a market capitalization of $24.33 billion, a PE ratio of 13.02, a PEG ratio of 1.74 and a beta of 1.42. T. Rowe Price Group, Inc. has a twelve month low of $87.43 and a twelve month high of $122.27.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings results on Friday, July 26th. The asset manager reported $2.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.27 by ($0.01). T. Rowe Price Group had a net margin of 28.66% and a return on equity of 19.90%. The business had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.79 billion. During the same period last year, the company earned $2.02 EPS. The firm’s revenue for the quarter was up 7.6% on a year-over-year basis. On average, sell-side analysts anticipate that T. Rowe Price Group, Inc. will post 9 earnings per share for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be given a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a dividend yield of 4.54%. The ex-dividend date is Friday, September 13th. T. Rowe Price Group’s dividend payout ratio is presently 58.91%.

T. Rowe Price Group 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.