Folger Nolan Fleming Douglas Capital Management Inc. Has $10.58 Million Stock Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Folger Nolan Fleming Douglas Capital Management Inc. raised its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROWGet Rating) by 1.2% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 93,105 shares of the asset manager’s stock after buying an additional 1,082 shares during the period. T. Rowe Price Group comprises approximately 1.4% of Folger Nolan Fleming Douglas Capital Management Inc.’s investment portfolio, making the stock its 22nd biggest holding. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in T. Rowe Price Group were worth $10,578,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of TROW. Vanguard Group Inc. increased its stake 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 worth $3,051,553,000 after acquiring an additional 625,340 shares during the period. BlackRock Inc. boosted its holdings in shares of 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 acquiring an additional 904,707 shares in the last quarter. State Street Corp boosted its holdings in shares of 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 acquiring an additional 237,127 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of T. Rowe Price Group by 10.5% during 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 acquiring an additional 900,933 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of T. Rowe Price Group by 7.9% during 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 acquiring an additional 273,205 shares in the last quarter. Institutional investors own 74.94% of the company’s stock.

T. Rowe Price Group Stock Performance

Shares of TROW stock traded down $1.98 during mid-day trading on Friday, hitting $105.73. The company’s stock had a trading volume of 33,443 shares, compared to its average volume of 1,796,453. T. Rowe Price Group, Inc. has a 52 week low of $104.72 and a 52 week high of $223.36. The company has a market cap of $23.86 billion, a PE ratio of 10.40, a P/E/G ratio of 2.26 and a beta of 1.29. The company’s fifty day simple moving average is $121.51 and its 200-day simple moving average is $126.67.

T. Rowe Price Group (NASDAQ:TROWGet Rating) last issued its earnings results on Thursday, July 28th. The asset manager reported $1.79 EPS 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 firm had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.68 billion. During the same period in the previous year, the firm earned $3.31 earnings per share. The business’s quarterly revenue was down 20.4% on a year-over-year basis. On average, equities analysts anticipate that T. Rowe Price Group, Inc. will post 8.24 earnings per share for the current year.

T. Rowe Price Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 29th. Shareholders of record on Thursday, September 15th will be paid a dividend of $1.20 per share. The ex-dividend date is Wednesday, September 14th. This represents a $4.80 dividend on an annualized basis and a yield of 4.54%. T. Rowe Price Group’s dividend payout ratio (DPR) is currently 46.33%.

Insider Buying and Selling at T. Rowe Price Group

In other news, VP Andrew Justin Mackenzi Thomson sold 11,891 shares of the business’s stock in a transaction that occurred on 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 transaction, the vice president now owns 136,410 shares in the company, valued at approximately $17,311,793.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, VP Andrew Justin Mackenzi Thomson sold 11,891 shares of the company’s stock in a transaction that occurred on 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 transaction, the vice president now owns 136,410 shares in the company, valued at $17,311,793.10. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Jessica M. Hiebler sold 959 shares of the company’s stock in a transaction that occurred on 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 transaction, the insider now owns 12,183 shares in the company, valued at approximately $1,517,636.31. The disclosure for this sale can be found here. Company insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on TROW shares. JPMorgan Chase & Co. cut their price objective on T. Rowe Price Group from $117.00 to $94.00 and set an “underweight” rating on the stock in a report on Monday, July 18th. UBS Group lowered their target price on T. Rowe Price Group from $88.00 to $84.00 and set a “sell” rating for the company in a research report on Friday, July 29th. Morgan Stanley lowered their target price on T. Rowe Price Group from $124.00 to $123.00 and set an “equal weight” rating for the company in a research report on Friday, July 29th. BMO Capital Markets lowered their target price on T. Rowe Price Group from $135.00 to $115.00 in a research report on Monday, August 1st. Finally, TheStreet lowered T. Rowe Price Group from a “b-” rating to a “c” rating in a research report on Wednesday, July 13th. Five equities research analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $132.30.

T. Rowe Price Group 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.

Further Reading

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

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