J.W. Cole Advisors Inc. Purchases New Shares in T. Rowe Price Group, Inc. (NASDAQ:TROW)

J.W. Cole Advisors Inc. purchased a new stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROWGet Rating) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 177,800 shares of the asset manager’s stock, valued at approximately $51,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in T. Rowe Price Group by 3.2% during the 1st quarter. Vanguard Group Inc. now owns 20,183,563 shares of the asset manager’s stock valued at $3,051,553,000 after purchasing an additional 625,340 shares in the last quarter. BlackRock Inc. increased its holdings in T. Rowe Price Group by 4.8% during the 1st quarter. BlackRock Inc. now owns 19,713,986 shares of the asset manager’s stock valued at $2,980,558,000 after purchasing an additional 904,707 shares in the last quarter. State Street Corp increased its holdings in T. Rowe Price Group by 2.0% during the 1st quarter. State Street Corp now owns 12,340,755 shares of the asset manager’s stock valued at $1,865,799,000 after purchasing an additional 237,127 shares in the last quarter. JPMorgan Chase & Co. boosted its position in T. Rowe Price Group by 10.5% in the 1st quarter. JPMorgan Chase & Co. now owns 9,442,430 shares of the asset manager’s stock valued at $1,427,600,000 after buying an additional 900,933 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in T. Rowe Price Group by 7.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,729,424 shares of the asset manager’s stock valued at $563,852,000 after buying an additional 273,205 shares during the last quarter. 74.94% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

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

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Deutsche Bank Aktiengesellschaft increased their price objective on T. Rowe Price Group from $120.00 to $138.00 and gave the company a “hold” rating in a research report on Friday, August 12th. TheStreet lowered T. Rowe Price Group from a “b-” rating to a “c” rating in a research report on Wednesday, July 13th. Morgan Stanley decreased 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 research report on Friday, July 29th. BMO Capital Markets decreased their price objective on T. Rowe Price Group from $135.00 to $115.00 in a research report on Monday, August 1st. Finally, UBS Group reduced their price target on T. Rowe Price Group from $88.00 to $84.00 and set a “sell” rating on the stock in a research report on Friday, July 29th. Five investment analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, T. Rowe Price Group has an average rating of “Hold” and a consensus price target of $132.30.

T. Rowe Price Group Trading Down 2.1 %

TROW stock opened at $107.71 on Friday. The business’s 50-day moving average price is $121.51 and its two-hundred day moving average price is $126.67. The firm has a market cap of $24.31 billion, a PE ratio of 10.40, a P/E/G ratio of 2.29 and a beta of 1.29. T. Rowe Price Group, Inc. has a 1-year low of $104.72 and a 1-year high of $223.36.

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

T. Rowe Price Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 29th. Shareholders of record on Thursday, September 15th will be issued a dividend of $1.20 per share. The ex-dividend date of this dividend is Wednesday, September 14th. This represents a $4.80 annualized dividend and a yield of 4.46%. T. Rowe Price Group’s dividend payout ratio is presently 46.33%.

T. Rowe Price Group Profile

(Get Rating)

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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