Signal Advisors Wealth LLC Makes New Investment in T. Rowe Price Group, Inc. $TROW

Key Points

• Signal Advisors Wealth LLC has invested approximately $325,000 to acquire a new position of 3,369 shares in T. Rowe Price Group, Inc. in Q2.
• Analyst ratings for T. Rowe Price Group show a mix of outlooks, with price targets ranging from $95.00 to $116.00 and an average rating of "Reduce."
• The company recently announced a quarterly dividend of $1.27, representing a dividend yield of 4.8%, to be paid on September 29th.

Signal Advisors Wealth LLC acquired a new stake in T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 3,369 shares of the asset manager's stock, valued at approximately $325,000.

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

Insider Activity

In related news, Director Robert F. Maclellan sold 3,090 shares of the business's stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $105.01, for a total transaction of $324,480.90. Following the transaction, the director owned 47,335 shares in the company, valued at $4,970,648.35. The trade was a 6.13% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.60% of the company's stock.

T. Rowe Price Group Trading Up 0.3%

TROW traded up $0.27 during trading on Tuesday, reaching $105.56. 135,932 shares of the company's stock were exchanged, compared to its average volume of 1,760,809. The stock has a market capitalization of $23.19 billion, a PE ratio of 11.80, a price-to-earnings-growth ratio of 2.75 and a beta of 1.51. T. Rowe Price Group, Inc. has a one year low of $77.85 and a one year high of $125.81. The firm has a fifty day moving average price of $106.15 and a two-hundred day moving average price of $97.58.

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. Sell-side analysts expect that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current year.

T. Rowe Price Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Monday, September 15th will be given a $1.27 dividend. The ex-dividend date is Monday, September 15th. This represents a $5.08 dividend on an annualized basis and a dividend yield of 4.8%. T. Rowe Price Group's payout ratio is 56.76%.

Analyst Ratings Changes

Several brokerages have commented on TROW. Barclays reaffirmed an "underweight" rating and issued a $95.00 target price (up previously from $91.00) on shares of T. Rowe Price Group in a research note on Monday, August 4th. Zacks Research lowered shares of T. Rowe Price Group from a "strong-buy" rating to a "hold" rating in a report on Monday, September 8th. JPMorgan Chase & Co. raised their price objective on shares of T. Rowe Price Group from $98.00 to $102.00 and gave the stock an "underweight" rating in a report on Monday, August 4th. Morgan Stanley raised their price objective on shares of T. Rowe Price Group from $112.00 to $116.00 and gave the stock an "equal weight" rating in a report on Monday, August 4th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of 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. One investment analyst has rated the stock with a Buy rating, eight have given a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Reduce" and an average price target of $101.55.

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.