Wealthcare Capital Partners LLC Buys 332 Shares of T. Rowe Price Group, Inc. $TROW

Wealthcare Capital Partners LLC boosted its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 3.5% during the second quarter, Holdings Channel reports. The firm owned 9,761 shares of the asset manager’s stock after purchasing an additional 332 shares during the quarter. Wealthcare Capital Partners LLC’s holdings in T. Rowe Price Group were worth $942,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of TROW. Vanguard Group Inc. increased its position in T. Rowe Price Group by 0.9% during the first quarter. Vanguard Group Inc. now owns 26,286,393 shares of the asset manager’s stock valued at $2,414,931,000 after acquiring an additional 222,556 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of T. Rowe Price Group by 7.2% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 7,706,251 shares of the asset manager’s stock valued at $707,973,000 after purchasing an additional 519,075 shares during the period. Invesco Ltd. increased its position in shares of T. Rowe Price Group by 43.2% during the 1st quarter. Invesco Ltd. now owns 3,433,684 shares of the asset manager’s stock valued at $315,453,000 after purchasing an additional 1,035,865 shares during the last quarter. American Century Companies Inc. lifted its stake in shares of T. Rowe Price Group by 4.9% in the 1st quarter. American Century Companies Inc. now owns 2,955,703 shares of the asset manager’s stock worth $271,541,000 after purchasing an additional 138,515 shares during the period. Finally, Northern Trust Corp grew its position in T. Rowe Price Group by 3.6% during the first quarter. Northern Trust Corp now owns 2,374,063 shares of the asset manager’s stock valued at $218,105,000 after buying an additional 83,324 shares during the period. 73.39% of the stock is owned by institutional investors.

Insider Transactions at T. Rowe Price Group

In other T. Rowe Price Group news, Director Robert F. Maclellan sold 3,090 shares of T. Rowe Price Group stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $105.01, for a total transaction of $324,480.90. Following the completion of the transaction, the director directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.00% of the stock is currently owned by corporate insiders.

T. Rowe Price Group Stock Up 1.5%

Shares of NASDAQ:TROW opened at $103.28 on Friday. The firm has a fifty day simple moving average of $105.71 and a two-hundred day simple moving average of $98.09. T. Rowe Price Group, Inc. has a 52 week low of $77.85 and a 52 week high of $125.81. The stock has a market capitalization of $22.69 billion, a P/E ratio of 11.54, a PEG ratio of 2.66 and a beta of 1.50.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings results on Friday, August 1st. The asset manager reported $2.24 EPS for the quarter, beating analysts’ consensus estimates of $2.15 by $0.09. T. Rowe Price Group had a net margin of 28.72% and a return on equity of 19.77%. The firm had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.72 billion. During the same quarter last year, the firm earned $2.26 EPS. The firm’s revenue for the quarter was down .6% compared to the same quarter last year. On average, analysts expect that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current year.

T. Rowe Price Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Monday, September 15th were issued a dividend of $1.27 per share. This represents a $5.08 annualized dividend and a yield of 4.9%. The ex-dividend date was Monday, September 15th. T. Rowe Price Group’s dividend payout ratio is presently 56.76%.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. JPMorgan Chase & Co. increased their price target on shares of T. Rowe Price Group from $98.00 to $102.00 and gave the stock an “underweight” rating in a research report on Monday, August 4th. Barclays reiterated an “underweight” rating and set a $95.00 target price (up from $91.00) on shares of T. Rowe Price Group in a research report on Monday, August 4th. Wells Fargo & Company raised their price objective on T. Rowe Price Group from $98.00 to $108.00 and gave the stock an “equal weight” rating in a research note on Friday, July 11th. Keefe, Bruyette & Woods lifted their price objective on T. Rowe Price Group from $110.00 to $112.00 and gave the company a “market perform” rating in a research report on Monday, August 4th. Finally, BMO Capital Markets began coverage on shares of T. Rowe Price Group in a report on Friday. They issued a “market perform” rating and a $108.00 target price for the company. One research analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average price target of $104.08.

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.