Bessemer Group Inc. Has $2.23 Million Stock Position in T. Rowe Price Group, Inc. $TROW

Bessemer Group Inc. boosted its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 3.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 23,122 shares of the asset manager’s stock after buying an additional 786 shares during the period. Bessemer Group Inc.’s holdings in T. Rowe Price Group were worth $2,231,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Banco Santander S.A. boosted its stake in T. Rowe Price Group by 56.8% in the 2nd quarter. Banco Santander S.A. now owns 175,403 shares of the asset manager’s stock worth $16,926,000 after purchasing an additional 63,529 shares during the period. Nisa Investment Advisors LLC lifted its holdings in shares of T. Rowe Price Group by 24.7% in the second quarter. Nisa Investment Advisors LLC now owns 82,865 shares of the asset manager’s stock valued at $7,996,000 after purchasing an additional 16,403 shares in the last quarter. AG2R LA Mondiale Gestion D Actifs boosted its position in shares of T. Rowe Price Group by 5.4% in the second quarter. AG2R LA Mondiale Gestion D Actifs now owns 10,123 shares of the asset manager’s stock worth $977,000 after buying an additional 519 shares during the period. Curio Wealth LLC grew its holdings in shares of T. Rowe Price Group by 20,700.0% during the second quarter. Curio Wealth LLC now owns 416 shares of the asset manager’s stock valued at $40,000 after buying an additional 414 shares in the last quarter. Finally, Leelyn Smith LLC raised its position in T. Rowe Price Group by 5.4% during the second quarter. Leelyn Smith LLC now owns 23,443 shares of the asset manager’s stock valued at $2,262,000 after buying an additional 1,210 shares during the period. 73.39% of the stock is currently owned by institutional investors and hedge funds.

T. Rowe Price Group Stock Down 1.3%

TROW stock opened at $102.13 on Friday. The firm has a 50 day moving average of $105.19 and a two-hundred day moving average of $100.03. T. Rowe Price Group, Inc. has a 12 month low of $77.85 and a 12 month high of $125.81. The company has a market capitalization of $22.44 billion, a price-to-earnings ratio of 11.41, a P/E/G ratio of 5.61 and a beta of 1.50.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings results on Friday, August 1st. The asset manager reported $2.24 earnings per share for the quarter, beating analysts’ consensus estimates of $2.15 by $0.09. The business had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.72 billion. T. Rowe Price Group had a net margin of 28.72% and a return on equity of 19.77%. T. Rowe Price Group’s revenue for the quarter was down .6% on a year-over-year basis. During the same quarter last year, the firm earned $2.26 EPS. On average, research analysts expect that T. Rowe Price Group, Inc. will post 9.29 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, December 30th. Shareholders of record on Monday, December 15th will be issued a dividend of $1.27 per share. This represents a $5.08 annualized dividend and a yield of 5.0%. The ex-dividend date is Monday, December 15th. T. Rowe Price Group’s dividend payout ratio (DPR) is 56.76%.

Insider Buying and Selling at T. Rowe Price Group

In other T. Rowe Price Group news, Director Robert F. Maclellan sold 3,090 shares of the business’s stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $105.01, for a total value of $324,480.90. Following the completion of the sale, the director owned 47,335 shares of the company’s stock, valued at $4,970,648.35. The trade was a 6.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.00% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on TROW shares. Morgan Stanley raised their price objective on T. Rowe Price Group from $125.00 to $126.00 and gave the stock an “equal weight” rating in a research report on Monday. Deutsche Bank Aktiengesellschaft raised their price target on shares of T. Rowe Price Group from $109.00 to $114.00 and gave the stock a “hold” rating in a report on Thursday, October 9th. Keefe, Bruyette & Woods upped their price objective on shares of T. Rowe Price Group from $112.00 to $115.00 and gave the company a “hold” rating in a research note on Monday, October 13th. TD Cowen increased their target price on shares of T. Rowe Price Group from $103.00 to $108.00 and gave the stock a “hold” rating in a research report on Wednesday, October 8th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of T. Rowe Price Group in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Reduce” and an average target price of $107.62.

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.