Brookstone Capital Management Has $10.89 Million Stake in T. Rowe Price Group, Inc. $TROW

Key Points

• Brookstone Capital Management increased its stake in T. Rowe Price Group by 5.3%, bringing its total ownership to approximately $10.89 million.
• Several other hedge funds have also boosted their positions in T. Rowe Price Group, indicating growing institutional interest in the stock.
• T. Rowe Price Group recently declared a quarterly dividend of $1.27, reflecting a 4.9% annualized yield, with a payout ratio of 56.76%.

Brookstone Capital Management grew its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 5.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 112,832 shares of the asset manager's stock after purchasing an additional 5,630 shares during the period. Brookstone Capital Management owned about 0.05% of T. Rowe Price Group worth $10,888,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. TFG Advisers LLC boosted its stake in shares of T. Rowe Price Group by 3.6% in the 2nd quarter. TFG Advisers LLC now owns 2,779 shares of the asset manager's stock valued at $268,000 after purchasing an additional 97 shares in the last quarter. Bill Few Associates Inc. boosted its stake in shares of T. Rowe Price Group by 4.3% in the 2nd quarter. Bill Few Associates Inc. now owns 2,577 shares of the asset manager's stock valued at $249,000 after purchasing an additional 107 shares in the last quarter. Cooper Financial Group boosted its stake in shares of T. Rowe Price Group by 5.2% in the 1st quarter. Cooper Financial Group now owns 2,234 shares of the asset manager's stock valued at $205,000 after purchasing an additional 110 shares in the last quarter. Hexagon Capital Partners LLC boosted its stake in shares of T. Rowe Price Group by 44.8% in the 1st quarter. Hexagon Capital Partners LLC now owns 365 shares of the asset manager's stock valued at $34,000 after purchasing an additional 113 shares in the last quarter. Finally, Associated Banc Corp boosted its stake in shares of T. Rowe Price Group by 0.5% in the 1st quarter. Associated Banc Corp now owns 24,864 shares of the asset manager's stock valued at $2,284,000 after purchasing an additional 114 shares in the last quarter. 73.39% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. BMO Capital Markets assumed coverage on shares of T. Rowe Price Group in a research note on Friday, October 3rd. They issued a "market perform" rating and a $108.00 price target on the stock. TD Cowen raised their price objective on shares of T. Rowe Price Group from $103.00 to $108.00 and gave the company a "hold" rating in a report on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of T. Rowe Price Group from $109.00 to $114.00 and gave the company a "hold" rating in a report on Thursday, October 9th. Weiss Ratings reiterated a "hold (c)" rating on shares of T. Rowe Price Group in a report on Wednesday, October 8th. Finally, Evercore ISI raised their price objective on shares of T. Rowe Price Group from $115.00 to $118.00 and gave the company an "in-line" rating in a report on Thursday, October 9th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, ten have assigned a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Reduce" and an average target price of $107.54.

Insider Activity

In other news, Director Robert F. Maclellan sold 3,090 shares of the business's stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $105.01, for a total value of $324,480.90. Following the transaction, the director owned 47,335 shares in the company, valued at approximately $4,970,648.35. The trade was a 6.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.00% of the company's stock.

T. Rowe Price Group Stock Performance

Shares of NASDAQ TROW opened at $102.76 on Thursday. The company has a market capitalization of $22.58 billion, a P/E ratio of 11.48, a price-to-earnings-growth ratio of 5.72 and a beta of 1.50. T. Rowe Price Group, Inc. has a 52-week low of $77.85 and a 52-week high of $125.81. The company's 50 day moving average price is $105.55 and its 200-day moving average price is $99.18.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last issued its quarterly earnings results on Friday, August 1st. The asset manager reported $2.24 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.15 by $0.09. The firm had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.72 billion. T. Rowe Price Group had a net margin of 28.72% and a return on equity of 19.77%. The company's revenue for the quarter was down .6% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.26 EPS. Analysts forecast that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Monday, September 15th were given a $1.27 dividend. The ex-dividend date was Monday, September 15th. This represents a $5.08 dividend on an annualized basis and a dividend yield of 4.9%. T. Rowe Price Group's payout ratio is 56.76%.

T. Rowe Price Group Company 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.

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