Lafayette Investments Inc. Purchases 176 Shares of T. Rowe Price Group Inc (NASDAQ:TROW)

Lafayette Investments Inc. grew its position in T. Rowe Price Group Inc (NASDAQ:TROW) by 0.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 80,232 shares of the asset manager’s stock after purchasing an additional 176 shares during the quarter. T. Rowe Price Group makes up 3.1% of Lafayette Investments Inc.’s investment portfolio, making the stock its 5th largest position. Lafayette Investments Inc.’s holdings in T. Rowe Price Group were worth $8,802,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Sawtooth Solutions LLC raised its holdings in shares of T. Rowe Price Group by 4.6% in the 2nd quarter. Sawtooth Solutions LLC now owns 2,220 shares of the asset manager’s stock valued at $244,000 after purchasing an additional 97 shares in the last quarter. Unison Advisors LLC grew its position in shares of T. Rowe Price Group by 0.7% in the 2nd quarter. Unison Advisors LLC now owns 13,584 shares of the asset manager’s stock valued at $1,490,000 after buying an additional 100 shares during the last quarter. Kistler Tiffany Companies LLC grew its position in shares of T. Rowe Price Group by 66.7% in the 2nd quarter. Kistler Tiffany Companies LLC now owns 250 shares of the asset manager’s stock valued at $27,000 after buying an additional 100 shares during the last quarter. Duncker Streett & Co. Inc. grew its position in shares of T. Rowe Price Group by 3.1% in the 2nd quarter. Duncker Streett & Co. Inc. now owns 3,279 shares of the asset manager’s stock valued at $360,000 after buying an additional 100 shares during the last quarter. Finally, Mid Atlantic Financial Management Inc. ADV grew its position in shares of T. Rowe Price Group by 1.4% in the 1st quarter. Mid Atlantic Financial Management Inc. ADV now owns 7,352 shares of the asset manager’s stock valued at $736,000 after buying an additional 103 shares during the last quarter. Institutional investors and hedge funds own 68.80% of the company’s stock.

A number of research analysts recently commented on TROW shares. Citigroup increased their target price on shares of T. Rowe Price Group from $113.00 to $115.00 and gave the company a “neutral” rating in a research report on Tuesday, July 9th. BidaskClub raised shares of T. Rowe Price Group from a “sell” rating to a “hold” rating in a research report on Wednesday, July 24th. UBS Group increased their target price on shares of T. Rowe Price Group from $109.00 to $111.00 and gave the company a “neutral” rating in a research report on Monday, July 8th. Morgan Stanley increased their target price on shares of T. Rowe Price Group from $117.00 to $122.00 and gave the company an “equal weight” rating in a research report on Friday, July 26th. Finally, Deutsche Bank dropped their target price on shares of T. Rowe Price Group from $115.00 to $112.00 and set a “hold” rating on the stock in a research report on Friday, August 9th. One analyst has rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $109.75.

T. Rowe Price Group stock traded up $0.57 during midday trading on Friday, hitting $115.62. 686,731 shares of the company’s stock were exchanged, compared to its average volume of 847,798. T. Rowe Price Group Inc has a 12-month low of $84.59 and a 12-month high of $116.28. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.91 and a current ratio of 3.91. The stock has a market cap of $27.10 billion, a price-to-earnings ratio of 16.17, a price-to-earnings-growth ratio of 1.74 and a beta of 1.05. The firm’s 50 day simple moving average is $109.69 and its 200 day simple moving average is $105.59.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings data on Wednesday, July 24th. The asset manager reported $2.03 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.88 by $0.15. T. Rowe Price Group had a net margin of 36.17% and a return on equity of 28.80%. The company had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.39 billion. During the same period last year, the firm posted $1.87 EPS. T. Rowe Price Group’s revenue for the quarter was up 3.7% on a year-over-year basis. On average, equities research analysts forecast that T. Rowe Price Group Inc will post 7.78 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be given a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a yield of 2.63%. The ex-dividend date is Thursday, September 12th. T. Rowe Price Group’s payout ratio is currently 42.52%.

In other T. Rowe Price Group news, Director Mary K. Bush sold 3,500 shares of the firm’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $107.06, for a total transaction of $374,710.00. Following the transaction, the director now directly owns 19,243 shares of the company’s stock, valued at approximately $2,060,155.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Robert C.T. Higginbotham sold 19,393 shares of the firm’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $115.17, for a total transaction of $2,233,491.81. Following the transaction, the vice president now directly owns 68,864 shares in the company, valued at $7,931,066.88. The disclosure for this sale can be found here. Insiders have sold a total of 64,209 shares of company stock worth $7,302,649 over the last three months. 3.10% of the stock is currently owned by insiders.

T. Rowe Price Group Company 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.

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Institutional Ownership by Quarter for T. Rowe Price Group (NASDAQ:TROW)

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