North Star Asset Management Inc. Takes Position in T. Rowe Price Group, Inc. $TROW

North Star Asset Management Inc. acquired a new stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 81,977 shares of the asset manager’s stock, valued at approximately $9,320,000.

A number of other institutional investors also recently bought and sold shares of the stock. Concorde Asset Management LLC acquired a new position in shares of T. Rowe Price Group in the second quarter valued at about $314,000. Empowered Funds LLC purchased a new position in T. Rowe Price Group during the 2nd quarter worth approximately $3,743,000. United Capital Financial Advisors LLC purchased a new position in shares of T. Rowe Price Group during the second quarter worth $1,628,000. Equitable Holdings Inc. acquired a new position in shares of T. Rowe Price Group in the 2nd quarter valued at about $1,313,000. Finally, Jefferies Financial Group Inc. purchased a new stake in T. Rowe Price Group in the 2nd quarter worth approximately $2,286,000. 73.39% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

TROW has been the topic of several recent analyst reports. The Goldman Sachs Group increased their target price on shares of T. Rowe Price Group from $90.00 to $92.00 and gave the stock a “sell” rating in a research note on Tuesday, June 30th. Barclays decreased their price target on shares of T. Rowe Price Group from $108.00 to $103.00 and set an “underweight” rating on the stock in a research note on Monday, August 3rd. Weiss Ratings raised T. Rowe Price Group from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, July 2nd. BMO Capital Markets lifted their price objective on T. Rowe Price Group from $110.00 to $120.00 and gave the stock a “market perform” rating in a research report on Monday, August 3rd. Finally, Morgan Stanley set a $116.00 price objective on T. Rowe Price Group in a research note on Wednesday, July 29th. Ten investment analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat, T. Rowe Price Group currently has a consensus rating of “Reduce” and an average target price of $105.67.

T. Rowe Price Group Price Performance

NASDAQ:TROW opened at $112.36 on Friday. The firm has a market capitalization of $23.97 billion, a price-to-earnings ratio of 11.27, a PEG ratio of 3.73 and a beta of 1.47. The company’s 50-day moving average is $114.28 and its two-hundred day moving average is $103.29. T. Rowe Price Group, Inc. has a 1-year low of $85.22 and a 1-year high of $122.00.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings results on Friday, July 31st. The asset manager reported $2.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.52 by $0.05. The business 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% compared to the same quarter last year. During the same quarter last year, the firm earned $2.24 EPS. As a group, equities analysts anticipate that T. Rowe Price Group, Inc. will post 10.15 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th will be given a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 4.6%. The ex-dividend date is Tuesday, September 15th. T. Rowe Price Group’s dividend payout ratio is presently 52.16%.

Insider Transactions at T. Rowe Price Group

In other T. Rowe Price Group news, VP Joshua B. Nelson sold 10,000 shares of the firm’s stock in a transaction on 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 completion of the sale, the vice president 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.60% of the stock is currently owned by company insiders.

About T. Rowe Price Group

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.