Corient Private Wealth LP Has $14.58 Million Stake in T. Rowe Price Group, Inc. $TROW

Corient Private Wealth LP increased its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 9.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 128,271 shares of the asset manager's stock after purchasing an additional 10,746 shares during the period. Corient Private Wealth LP owned approximately 0.06% of T. Rowe Price Group worth $14,583,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in TROW. Wealthcare Capital Partners LLC increased its holdings in shares of T. Rowe Price Group by 1.0% during the second quarter. Wealthcare Capital Partners LLC now owns 9,565 shares of the asset manager's stock worth $1,087,000 after purchasing an additional 93 shares during the period. Kesler Norman & Wride LLC boosted its stake in shares of T. Rowe Price Group by 0.6% in the second quarter. Kesler Norman & Wride LLC now owns 15,914 shares of the asset manager's stock valued at $1,809,000 after buying an additional 96 shares during the period. MassMutual Private Wealth & Trust FSB grew its position in T. Rowe Price Group by 9.4% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,150 shares of the asset manager's stock worth $131,000 after buying an additional 99 shares in the last quarter. Oregon Public Employees Retirement Fund increased its stake in T. Rowe Price Group by 0.4% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 25,062 shares of the asset manager's stock worth $2,259,000 after acquiring an additional 100 shares during the period. Finally, Concorde Asset Management LLC increased its stake in T. Rowe Price Group by 3.9% during the 1st quarter. Concorde Asset Management LLC now owns 2,730 shares of the asset manager's stock worth $246,000 after acquiring an additional 102 shares during the period. 73.39% of the stock is owned by institutional investors and hedge funds.

T. Rowe Price Group Trading Down 1.5%

TROW stock opened at $104.23 on Wednesday. The stock has a market capitalization of $22.23 billion, a P/E ratio of 10.45, a price-to-earnings-growth ratio of 3.50 and a beta of 1.46. T. Rowe Price Group, Inc. has a 12 month low of $85.22 and a 12 month high of $122.00. The firm has a 50-day moving average price of $113.25 and a 200-day moving average price of $104.58.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last announced its quarterly earnings results on Friday, July 31st. The asset manager reported $2.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.52 by $0.05. The company had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.89 billion. T. Rowe Price Group had a net margin of 29.26% and a return on equity of 20.91%. The firm's revenue was up 10.7% on a year-over-year basis. During the same period in the previous year, the firm posted $2.24 EPS. As a group, equities analysts predict that T. Rowe Price Group, Inc. will post 10.16 EPS for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 15th will be issued a dividend of $1.30 per share. The ex-dividend date is Tuesday, September 15th. This represents a $5.20 annualized dividend and a dividend yield of 5.0%. T. Rowe Price Group's dividend payout ratio is 52.16%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Zacks Research downgraded T. Rowe Price Group from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 13th. Keefe, Bruyette & Woods restated a "market perform" rating and issued a $115.00 price target (down from $120.00) on shares of T. Rowe Price Group in a research report on Monday, August 3rd. The Goldman Sachs Group boosted their price target on T. Rowe Price Group from $90.00 to $92.00 and gave the company a "sell" rating in a research note on Tuesday, June 30th. Morgan Stanley set a $116.00 price objective on shares of T. Rowe Price Group in a research report on Wednesday, July 29th. Finally, Weiss Ratings upgraded shares of T. Rowe Price Group from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Friday, September 4th. One investment analyst has rated the stock with a Buy rating, nine have given a Hold rating and four have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Reduce" and an average target price of $106.15.

Insider Activity

In other news, VP Joshua Nelson sold 10,000 shares of the stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $111.82, for a total value of $1,118,200.00. Following the completion of the transaction, the vice president directly owned 71,328 shares in the company, valued at approximately $7,975,896.96. This represents a 12.30% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.60% of the company's stock.

T. Rowe Price Group Profile

T. Rowe Price Group, Inc is a global investment management firm headquartered in Baltimore, Maryland. Founded in 1937 by Thomas Rowe Price Jr., the company provides investment management, advisory and related services to individual investors, retirement plans, institutions, financial intermediaries and other clients.

The company offers a broad range of investment products and strategies, including mutual funds, exchange-traded funds, separately managed accounts and institutional portfolios.

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