T. Rowe Price Group, Inc. (NASDAQ:TROW) Shares Acquired by Versant Capital Management Inc

Versant Capital Management Inc boosted its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 660.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 327 shares of the asset manager’s stock after purchasing an additional 284 shares during the quarter. Versant Capital Management Inc’s holdings in T. Rowe Price Group were worth $38,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. First United Bank & Trust acquired a new position in T. Rowe Price Group in the fourth quarter worth $31,000. Park Place Capital Corp lifted its stake in T. Rowe Price Group by 1,775.0% in the fourth quarter. Park Place Capital Corp now owns 300 shares of the asset manager’s stock valued at $32,000 after buying an additional 284 shares during the last quarter. Signature Resources Capital Management LLC bought a new stake in T. Rowe Price Group in the fourth quarter valued at $39,000. EverSource Wealth Advisors LLC lifted its stake in T. Rowe Price Group by 93.6% in the first quarter. EverSource Wealth Advisors LLC now owns 331 shares of the asset manager’s stock valued at $40,000 after buying an additional 160 shares during the last quarter. Finally, Scarborough Advisors LLC bought a new stake in T. Rowe Price Group in the fourth quarter valued at $47,000. Institutional investors and hedge funds own 73.39% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on TROW shares. UBS Group raised their target price on T. Rowe Price Group from $100.00 to $109.00 and gave the company a “sell” rating in a research note on Friday, April 12th. Keefe, Bruyette & Woods reiterated 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. StockNews.com cut shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. TD Cowen cut their price objective on shares of 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. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on shares of T. Rowe Price Group from $122.00 to $112.00 and set a “hold” rating on the stock in a research report on Monday, July 29th. Three equities research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the stock. According to data from MarketBeat.com, T. Rowe Price Group currently has an average rating of “Hold” and an average price target of $114.56.

T. Rowe Price Group Stock Performance

Shares of T. Rowe Price Group stock traded up $1.67 during trading on Wednesday, hitting $105.56. 136,365 shares of the stock traded hands, compared to its average volume of 1,308,072. The stock has a market cap of $23.50 billion, a P/E ratio of 12.34, a PEG ratio of 1.65 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. The company has a fifty day moving average price of $115.34 and a two-hundred day moving average price of $114.19.

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). The firm had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.79 billion. T. Rowe Price Group had a net margin of 28.66% and a return on equity of 19.90%. The firm’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.02 earnings per share. On average, equities research analysts expect that T. Rowe Price Group, Inc. will post 8.98 EPS for the current fiscal year.

T. Rowe Price Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be issued a dividend of $1.24 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $4.96 annualized dividend and a dividend yield of 4.70%. T. Rowe Price Group’s dividend payout ratio is 58.91%.

Insider Activity

In related news, VP Dorothy C. Sawyer sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $117.00, for a total value of $234,000.00. Following the completion of the sale, the vice president now directly owns 34,710 shares in the company, valued at approximately $4,061,070. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, insider Jessica M. Hiebler sold 1,401 shares of the company’s stock in a transaction that occurred on 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 transaction, the insider now directly owns 14,198 shares in the company, valued at $1,644,838.30. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Dorothy C. Sawyer sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $117.00, for a total value of $234,000.00. Following the transaction, the vice president now owns 34,710 shares of the company’s stock, valued at $4,061,070. The disclosure for this sale can be found here. 2.00% of the stock is owned by corporate insiders.

About T. Rowe Price Group

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.