Northwestern Mutual Wealth Management Co. Has $3.13 Million Stake in T. Rowe Price Group, Inc. $TROW

Key Points

• Northwestern Mutual Wealth Management Co. increased its stake in T. Rowe Price Group by 15.7% during the first quarter, acquiring an additional 4,608 shares, bringing its total holdings to 34,040 shares valued at $3,127,000.
• Analysts have mixed ratings for T. Rowe Price Group, with JPMorgan raising the target price from $98 to $102, while Barclays set a lower target price of $95, maintaining an "underweight" rating.
• The firm announced a quarterly dividend of $1.27 per share, scheduled for payment on September 29th, which represents an annualized yield of 4.7%.

Northwestern Mutual Wealth Management Co. lifted its position in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 15.7% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 34,040 shares of the asset manager's stock after buying an additional 4,608 shares during the quarter. Northwestern Mutual Wealth Management Co.'s holdings in T. Rowe Price Group were worth $3,127,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in TROW. Invesco Ltd. grew its stake in shares of 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 buying an additional 1,035,865 shares in 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 worth $707,973,000 after purchasing an additional 519,075 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in T. Rowe Price Group by 28.2% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,762,910 shares of the asset manager's stock worth $199,367,000 after purchasing an additional 387,604 shares during the last quarter. GAMMA Investing LLC lifted its holdings in T. Rowe Price Group by 9,555.5% in the 1st quarter. GAMMA Investing LLC now owns 333,212 shares of the asset manager's stock worth $30,612,000 after purchasing an additional 329,761 shares during the last quarter. Finally, 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 worth $2,414,931,000 after purchasing an additional 222,556 shares during the last quarter. Institutional investors own 73.39% of the company's stock.

T. Rowe Price Group Stock Down 0.6%

Shares of TROW stock traded down $0.66 during trading hours on Friday, reaching $107.62. 1,171,833 shares of the company's stock were exchanged, compared to its average volume of 1,192,428. T. Rowe Price Group, Inc. has a fifty-two week low of $77.85 and a fifty-two week high of $125.81. The stock has a market capitalization of $23.65 billion, a P/E ratio of 12.02, a P/E/G ratio of 2.81 and a beta of 1.51. The business has a fifty day moving average price of $103.70 and a 200-day moving average price of $97.47.

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 EPS for the quarter, topping 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 during the quarter, compared to analyst estimates of $1.72 billion. During the same period in the previous year, the company earned $2.26 earnings per share. The company's quarterly revenue was down .6% compared to the same quarter last year. As a group, research analysts expect that T. Rowe Price Group, Inc. will post 9.29 EPS for the current fiscal year.

T. Rowe Price Group Announces Dividend

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

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Keefe, Bruyette & Woods boosted their target price on T. Rowe Price Group from $110.00 to $112.00 and gave the stock a "market perform" rating in a report on Monday, August 4th. JPMorgan Chase & Co. boosted their target price on T. Rowe Price Group from $98.00 to $102.00 and gave the stock an "underweight" rating in a report on Monday, August 4th. Evercore ISI boosted their target price on T. Rowe Price Group from $106.00 to $110.00 and gave the stock an "in-line" rating in a report on Monday, August 4th. Barclays restated an "underweight" rating and issued a $95.00 target price (up from $91.00) on shares of T. Rowe Price Group in a report on Monday, August 4th. Finally, Wells Fargo & Company boosted their target price on T. Rowe Price Group from $98.00 to $108.00 and gave the stock an "equal weight" rating in a report on Friday, July 11th. Eight investment analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company's stock. Based on data from MarketBeat, T. Rowe Price Group presently has an average rating of "Reduce" and an average price target of $101.09.

Insider Activity at T. Rowe Price Group

In related news, VP Dorothy C. Sawyer sold 2,000 shares of the company's stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $95.43, for a total value of $190,860.00. Following the completion of the transaction, the vice president directly owned 44,789 shares in the company, valued at approximately $4,274,214.27. This 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 through this hyperlink. Insiders own 1.60% of the company's stock.

About T. Rowe Price Group

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.