Advisory Services Network LLC Has $2.30 Million Stock Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Advisory Services Network LLC increased its position in T. Rowe Price Group, Inc. (NASDAQ:TROWGet Rating) by 2.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,234 shares of the asset manager’s stock after purchasing an additional 385 shares during the quarter. Advisory Services Network LLC’s holdings in T. Rowe Price Group were worth $2,303,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Retirement Systems of Alabama grew its position in shares of T. Rowe Price Group by 2.0% during the 1st quarter. Retirement Systems of Alabama now owns 75,941 shares of the asset manager’s stock worth $11,482,000 after buying an additional 1,470 shares during the period. MML Investors Services LLC grew its position in shares of T. Rowe Price Group by 2.2% during the 4th quarter. MML Investors Services LLC now owns 15,092 shares of the asset manager’s stock worth $2,968,000 after buying an additional 328 shares during the period. King Luther Capital Management Corp acquired a new position in shares of T. Rowe Price Group during the 1st quarter worth about $973,000. Hazlett Burt & Watson Inc. acquired a new position in shares of T. Rowe Price Group during the 1st quarter worth about $120,000. Finally, CX Institutional acquired a new position in shares of T. Rowe Price Group during the 1st quarter worth about $329,000. 74.94% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. JPMorgan Chase & Co. decreased their target price on T. Rowe Price Group from $117.00 to $94.00 and set an “underweight” rating for the company in a research report on Monday, July 18th. The Goldman Sachs Group cut their price objective on T. Rowe Price Group from $118.00 to $100.00 and set a “sell” rating on the stock in a report on Wednesday, June 29th. Deutsche Bank Aktiengesellschaft lifted their price objective on T. Rowe Price Group from $120.00 to $138.00 and gave the company a “hold” rating in a report on Friday, August 12th. Morgan Stanley cut their price objective on T. Rowe Price Group from $124.00 to $123.00 and set an “equal weight” rating on the stock in a report on Friday, July 29th. Finally, UBS Group cut their price objective on T. Rowe Price Group from $88.00 to $84.00 and set a “sell” rating on the stock in a report on Friday, July 29th. Five research analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $132.30.

T. Rowe Price Group Stock Performance

NASDAQ TROW opened at $110.13 on Friday. The stock’s 50 day moving average price is $121.64 and its two-hundred day moving average price is $127.47. T. Rowe Price Group, Inc. has a 52 week low of $104.72 and a 52 week high of $223.36. The stock has a market capitalization of $24.86 billion, a price-to-earnings ratio of 10.63, a PEG ratio of 2.30 and a beta of 1.29.

T. Rowe Price Group (NASDAQ:TROWGet Rating) last released its earnings results on Thursday, July 28th. The asset manager reported $1.79 earnings per share for the quarter, missing analysts’ consensus estimates of $2.64 by ($0.85). T. Rowe Price Group had a net margin of 33.26% and a return on equity of 28.18%. The company had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.68 billion. During the same quarter in the previous year, the company posted $3.31 earnings per share. The business’s revenue was down 20.4% compared to the same quarter last year. On average, equities research analysts forecast that T. Rowe Price Group, Inc. will post 8.24 EPS for the current year.

T. Rowe Price Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 29th. Investors of record on Thursday, September 15th will be given a dividend of $1.20 per share. The ex-dividend date is Wednesday, September 14th. This represents a $4.80 annualized dividend and a dividend yield of 4.36%. T. Rowe Price Group’s dividend payout ratio is currently 46.33%.

Insider Buying and Selling at T. Rowe Price Group

In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 11,891 shares of the stock in a transaction dated Thursday, August 4th. The stock was sold at an average price of $126.91, for a total value of $1,509,086.81. Following the completion of the transaction, the vice president now directly owns 136,410 shares in the company, valued at $17,311,793.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 959 shares of the stock in a transaction dated Tuesday, August 2nd. The stock was sold at an average price of $124.57, for a total value of $119,462.63. Following the completion of the transaction, the insider now directly owns 12,183 shares in the company, valued at $1,517,636.31. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Andrew Justin Mackenzi Thomson sold 11,891 shares of the stock in a transaction dated Thursday, August 4th. The shares were sold at an average price of $126.91, for a total value of $1,509,086.81. Following the completion of the sale, the vice president now directly owns 136,410 shares of the company’s stock, valued at approximately $17,311,793.10. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company’s stock.

T. Rowe Price Group Company Profile

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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.

See Also

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

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