T. Rowe Price Group, Inc. (NASDAQ:TROW) Position Raised by Premier Path Wealth Partners LLC

Premier Path Wealth Partners LLC grew its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 3.7% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 11,664 shares of the asset manager’s stock after purchasing an additional 416 shares during the quarter. Premier Path Wealth Partners LLC’s holdings in T. Rowe Price Group were worth $1,345,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. Nomura Asset Management Co. Ltd. boosted its stake in T. Rowe Price Group by 15.8% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 344,889 shares of the asset manager’s stock valued at $37,141,000 after purchasing an additional 47,043 shares during the period. Ashton Thomas Private Wealth LLC acquired a new position in shares of T. Rowe Price Group during the first quarter worth approximately $1,008,000. Nebula Research & Development LLC bought a new position in T. Rowe Price Group in the 4th quarter worth approximately $807,000. Fisher Asset Management LLC increased its position in T. Rowe Price Group by 6.6% in the 4th quarter. Fisher Asset Management LLC now owns 1,751,405 shares of the asset manager’s stock valued at $188,609,000 after acquiring an additional 109,053 shares during the period. Finally, Envestnet Portfolio Solutions Inc. raised its stake in T. Rowe Price Group by 52.4% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 65,534 shares of the asset manager’s stock valued at $7,990,000 after acquiring an additional 22,533 shares in the last quarter. Institutional investors own 73.39% of the company’s stock.

Insider Activity

In other news, insider Jessica M. Hiebler sold 1,401 shares of the stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $115.85, for a total value of $162,305.85. Following the completion of the sale, the insider now owns 14,198 shares in the company, valued at $1,644,838.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Jessica M. Hiebler sold 1,401 shares of the company’s stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $115.85, for a total value of $162,305.85. Following the transaction, the insider now owns 14,198 shares in the company, valued at approximately $1,644,838.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Dorothy C. Sawyer sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $117.00, for a total transaction of $234,000.00. Following the sale, the vice president now owns 34,710 shares of the company’s stock, valued at $4,061,070. The disclosure for this sale can be found here. 2.00% of the stock is owned by company insiders.

T. Rowe Price Group Price Performance

Shares of NASDAQ:TROW traded up $0.39 on Friday, reaching $109.62. 732,282 shares of the company traded hands, compared to its average volume of 1,275,534. The stock has a market capitalization of $24.48 billion, a PE ratio of 13.02, a P/E/G ratio of 1.69 and a beta of 1.42. The company’s 50 day moving average is $112.99 and its 200-day moving average is $113.86. T. Rowe Price Group, Inc. has a fifty-two week low of $87.43 and a fifty-two week high of $122.27.

T. Rowe Price Group (NASDAQ:TROW) last announced its earnings results on Friday, July 26th. The asset manager reported $2.26 EPS for the quarter, missing the consensus estimate of $2.27 by ($0.01). T. Rowe Price Group had a net margin of 28.66% and a return on equity of 19.90%. The company had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.79 billion. During the same period in the prior year, the company earned $2.02 earnings per share. The company’s revenue for the quarter was up 7.6% on a year-over-year basis. As a group, analysts expect that T. Rowe Price Group, Inc. will post 8.98 EPS for the current year.

T. Rowe Price Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be given a $1.24 dividend. This represents a $4.96 annualized dividend and a dividend yield of 4.52%. The ex-dividend date of this dividend is Friday, September 13th. T. Rowe Price Group’s dividend payout ratio (DPR) is currently 58.91%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on TROW. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $120.00 price target (down previously from $121.00) on shares of T. Rowe Price Group in a research note on Monday, July 29th. StockNews.com lowered shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. TD Cowen dropped their price target on shares of T. Rowe Price Group from $123.00 to $118.00 and set a “hold” rating on the stock in a research report on Monday, July 29th. JPMorgan Chase & Co. increased their price objective on shares of T. Rowe Price Group from $102.00 to $107.00 and gave the company an “underweight” rating in a report on Tuesday, July 23rd. Finally, Evercore ISI dropped their target price on T. Rowe Price Group from $110.00 to $107.00 and set an “in-line” rating on the stock in a report on Tuesday, April 30th. Three research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $114.67.

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.