Private Advisor Group LLC Raises Stake in T. Rowe Price Group Inc (NASDAQ:TROW)

Private Advisor Group LLC grew its stake in shares of T. Rowe Price Group Inc (NASDAQ:TROW) by 14.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,925 shares of the asset manager’s stock after purchasing an additional 875 shares during the quarter. Private Advisor Group LLC’s holdings in T. Rowe Price Group were worth $760,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. FineMark National Bank & Trust purchased a new stake in shares of T. Rowe Price Group during the second quarter valued at $223,000. Close Asset Management Ltd boosted its stake in shares of T. Rowe Price Group by 29.4% during the second quarter. Close Asset Management Ltd now owns 17,800 shares of the asset manager’s stock valued at $1,953,000 after purchasing an additional 4,045 shares during the period. Coastal Investment Advisors Inc. boosted its stake in shares of T. Rowe Price Group by 32.2% during the second quarter. Coastal Investment Advisors Inc. now owns 1,030 shares of the asset manager’s stock valued at $112,000 after purchasing an additional 251 shares during the period. Bessemer Group Inc. boosted its stake in shares of T. Rowe Price Group by 58.3% during the second quarter. Bessemer Group Inc. now owns 71,982 shares of the asset manager’s stock valued at $7,898,000 after purchasing an additional 26,503 shares during the period. Finally, Legacy Financial Strategies LLC boosted its stake in shares of T. Rowe Price Group by 4.3% during the second quarter. Legacy Financial Strategies LLC now owns 6,272 shares of the asset manager’s stock valued at $686,000 after purchasing an additional 261 shares during the period. 68.67% of the stock is owned by hedge funds and other institutional investors.

A number of brokerages have recently issued reports on TROW. ValuEngine lowered shares of T. Rowe Price Group from a “hold” rating to a “sell” rating in a research note on Monday, September 16th. UBS Group boosted 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 note on Monday, July 8th. Morgan Stanley lifted their price objective on T. Rowe Price Group from $117.00 to $122.00 and gave the company an “equal weight” rating in a report on Friday, July 26th. Citigroup lifted their price objective on T. Rowe Price Group from $113.00 to $115.00 and gave the company a “neutral” rating in a report on Tuesday, July 9th. Finally, Deutsche Bank decreased their price objective on T. Rowe Price Group from $115.00 to $112.00 and set a “hold” rating for the company in a report on Friday, August 9th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $110.92.



Shares of TROW stock traded down $0.03 on Wednesday, hitting $114.24. The stock had a trading volume of 49,695 shares, compared to its average volume of 957,766. The company has a quick ratio of 3.91, a current ratio of 3.91 and a debt-to-equity ratio of 0.02. The business has a 50 day moving average price of $111.29 and a 200 day moving average price of $107.10. The company has a market cap of $26.92 billion, a PE ratio of 15.98, a P/E/G ratio of 1.73 and a beta of 1.05. T. Rowe Price Group Inc has a one year low of $84.59 and a one year high of $120.99.

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

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be issued a $0.76 dividend. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $3.04 dividend on an annualized basis and a yield of 2.66%. T. Rowe Price Group’s dividend payout ratio is presently 42.52%.

In other T. Rowe Price Group news, VP W. Sharps Robert sold 19,064 shares of the business’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $118.50, for a total value of $2,259,084.00. Following the completion of the transaction, the vice president now directly owns 467,715 shares in the company, valued at $55,424,227.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Sebastien Page sold 4,418 shares of the business’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $107.05, for a total transaction of $472,946.90. Following the completion of the transaction, the vice president now owns 51,302 shares of the company’s stock, valued at $5,491,879.10. The disclosure for this sale can be found here. Insiders sold 79,773 shares of company stock valued at $9,187,023 over the last quarter. 3.10% of the stock is currently owned by corporate insiders.

About T. Rowe Price Group

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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