Guggenheim Capital LLC Has $11.42 Million Stock Holdings in T. Rowe Price Group, Inc. $TROW

Key Points

• Guggenheim Capital LLC increased its holdings in T. Rowe Price Group by 8.6% during the first quarter, owning 124,332 shares valued at approximately $11.42 million.
• T. Rowe Price Group recently reported $2.24 EPS for the quarter, exceeding expectations, with revenue stagnating at $1.72 billion compared to the previous year.
• The company declared a quarterly dividend of $1.27 per share, with a dividend yield of 4.6%, to be paid on September 29th to shareholders of record on September 15th.

Guggenheim Capital LLC increased its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 8.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 124,332 shares of the asset manager's stock after purchasing an additional 9,852 shares during the quarter. Guggenheim Capital LLC owned about 0.06% of T. Rowe Price Group worth $11,422,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of TROW. Vanguard Group Inc. lifted its holdings in T. Rowe Price Group by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 26,286,393 shares of the asset manager's stock valued at $2,414,931,000 after acquiring an additional 222,556 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in T. Rowe Price Group by 7.2% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 7,706,251 shares of the asset manager's stock valued at $707,973,000 after acquiring an additional 519,075 shares during the last quarter. Invesco Ltd. lifted its holdings in T. Rowe Price Group by 43.2% in the 1st quarter. Invesco Ltd. now owns 3,433,684 shares of the asset manager's stock valued at $315,453,000 after acquiring an additional 1,035,865 shares during the last quarter. American Century Companies Inc. lifted its holdings in T. Rowe Price Group by 4.9% in the 1st quarter. American Century Companies Inc. now owns 2,955,703 shares of the asset manager's stock valued at $271,541,000 after acquiring an additional 138,515 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in T. Rowe Price Group by 3.6% in the 1st quarter. Northern Trust Corp now owns 2,374,063 shares of the asset manager's stock valued at $218,105,000 after acquiring an additional 83,324 shares during the last quarter. Institutional investors and hedge funds own 73.39% of the company's stock.

Insider Buying and Selling

In other T. Rowe Price Group news, VP Dorothy C. Sawyer sold 2,000 shares of the stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $95.43, for a total transaction of $190,860.00. Following the transaction, the vice president owned 44,789 shares in the company, valued at $4,274,214.27. This trade represents a 4.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 2.00% of the company's stock.

T. Rowe Price Group Stock Down 0.6%

Shares of TROW traded down $0.66 during trading hours on Monday, reaching $107.62. The company's stock had a trading volume of 1,171,833 shares, compared to its average volume of 1,192,428. The firm has a market cap of $23.65 billion, a price-to-earnings ratio of 12.02, a P/E/G ratio of 2.81 and a beta of 1.51. T. Rowe Price Group, Inc. has a 1-year low of $77.85 and a 1-year high of $125.81. The company has a 50 day moving average of $103.70 and a two-hundred day moving average of $97.40.

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

T. Rowe Price Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Monday, September 15th will be issued a $1.27 dividend. The ex-dividend date is Monday, September 15th. This represents a $5.08 dividend on an annualized basis and a yield of 4.7%. T. Rowe Price Group's dividend payout ratio is currently 56.76%.

Analyst Ratings Changes

A number of brokerages have weighed in on TROW. Evercore ISI upped their price target on shares of T. Rowe Price Group from $106.00 to $110.00 and gave the company an "in-line" rating in a report on Monday, August 4th. Morgan Stanley upped their price target on shares of T. Rowe Price Group from $112.00 to $116.00 and gave the company an "equal weight" rating in a report on Monday, August 4th. Barclays reaffirmed an "underweight" rating and set a $95.00 price objective (up from $91.00) on shares of T. Rowe Price Group in a research note on Monday, August 4th. Cowen reaffirmed a "hold" rating on shares of T. Rowe Price Group in a research note on Monday, May 5th. Finally, JPMorgan Chase & Co. upped their price objective on shares of T. Rowe Price Group from $98.00 to $102.00 and gave the company an "underweight" rating in a research note on Monday, August 4th. Eight research analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Reduce" and a consensus price target of $101.09.

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.