LifeWealth Investments LLC Invests $563,000 in T. Rowe Price Group, Inc. $TROW

Key Points

• LifeWealth Investments LLC invested approximately $563,000 in T. Rowe Price Group, acquiring 5,835 shares during the second quarter.
• Overall, 73.39% of T. Rowe Price's stock is owned by institutional investors, with several funds like Invesco and Charles Schwab increasing their stakes.
• Recent analyst ratings include a price target increase from $115.00 to $118.00 by Evercore ISI, with mixed ratings ranging from Strong Buy to Sell across different research firms.

LifeWealth Investments LLC bought a new position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) during the second quarter, according to its most recent filing with the SEC. The fund bought 5,835 shares of the asset manager's stock, valued at approximately $563,000.

A number of other hedge funds also recently made changes to their positions in TROW. Invesco Ltd. raised its stake in shares of T. Rowe Price Group by 43.2% during the 1st quarter. Invesco Ltd. now owns 3,433,684 shares of the asset manager's stock worth $315,453,000 after purchasing an additional 1,035,865 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of T. Rowe Price Group by 7.2% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 7,706,251 shares of the asset manager's stock worth $707,973,000 after purchasing an additional 519,075 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of T. Rowe Price Group during the 2nd quarter worth $37,722,000. Vanguard Group Inc. increased 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 worth $2,414,931,000 after acquiring an additional 222,556 shares during the last quarter. Finally, Vest Financial LLC increased its holdings in T. Rowe Price Group by 31.1% in the 2nd quarter. Vest Financial LLC now owns 616,351 shares of the asset manager's stock worth $59,478,000 after acquiring an additional 146,382 shares during the last quarter. 73.39% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

TROW has been the subject of several recent research reports. Evercore ISI lifted their price objective on T. Rowe Price Group from $115.00 to $118.00 and gave the stock an "in-line" rating in a report on Thursday, October 9th. Weiss Ratings reissued a "hold (c)" rating on shares of T. Rowe Price Group in a report on Wednesday, October 8th. Morgan Stanley lifted their price objective on T. Rowe Price Group from $116.00 to $125.00 and gave the stock a "positive" rating in a report on Monday, October 6th. JPMorgan Chase & Co. lifted their price objective on T. Rowe Price Group from $102.00 to $109.00 and gave the stock an "underweight" rating in a report on Wednesday, October 15th. Finally, The Goldman Sachs Group lifted their price objective on T. Rowe Price Group from $91.00 to $92.00 and gave the stock a "sell" rating in a report on Friday, October 3rd. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, ten have given a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Reduce" and an average target price of $107.54.

T. Rowe Price Group Stock Down 1.4%

TROW stock opened at $102.76 on Thursday. The firm has a market capitalization of $22.58 billion, a PE ratio of 11.48, a PEG ratio of 5.72 and a beta of 1.50. T. Rowe Price Group, Inc. has a twelve month low of $77.85 and a twelve month high of $125.81. The stock has a 50-day simple moving average of $105.55 and a two-hundred day simple moving average of $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, beating analysts' consensus estimates of $2.15 by $0.09. The firm had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.72 billion. T. Rowe Price Group had a return on equity of 19.77% and a net margin of 28.72%.The company's revenue for the quarter was down .6% on a year-over-year basis. During the same quarter last year, the company posted $2.26 EPS. On average, equities research analysts anticipate that T. Rowe Price Group, Inc. will post 9.29 EPS for the current fiscal year.

T. Rowe Price Group Announces Dividend

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

Insider Activity

In other news, Director Robert F. Maclellan sold 3,090 shares of T. Rowe Price Group stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $105.01, for a total transaction of $324,480.90. Following the completion of the sale, the director owned 47,335 shares in the company, valued at approximately $4,970,648.35. This trade represents a 6.13% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 2.00% of the company's stock.

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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