U.S. Capital Wealth Advisors LLC Acquires Shares of 9,419 T. Rowe Price Group, Inc. $TROW

Key Points

• U.S. Capital Wealth Advisors LLC has acquired 9,419 shares of T. Rowe Price Group, valued at approximately $909,000, during the 2nd quarter.
• Analysts have mixed ratings on T. Rowe Price Group, with one Buy, eight Holds, and four Sell ratings, while recent price targets range from $95.00 to $116.00.
• T. Rowe Price Group announced a quarterly dividend of $1.27 per share, with an annualized yield of 4.9%, set to be paid on September 29th.

U.S. Capital Wealth Advisors LLC bought a new position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 9,419 shares of the asset manager's stock, valued at approximately $909,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Cooper Financial Group grew its position in shares of T. Rowe Price Group by 5.2% in the first quarter. Cooper Financial Group now owns 2,234 shares of the asset manager's stock valued at $205,000 after purchasing an additional 110 shares during the period. Hexagon Capital Partners LLC boosted its holdings in T. Rowe Price Group by 44.8% in the 1st quarter. Hexagon Capital Partners LLC now owns 365 shares of the asset manager's stock worth $34,000 after buying an additional 113 shares during the last quarter. Associated Banc Corp increased its stake in T. Rowe Price Group by 0.5% during the 1st quarter. Associated Banc Corp now owns 24,864 shares of the asset manager's stock worth $2,284,000 after buying an additional 114 shares in the last quarter. Wealthcare Capital Partners LLC raised its holdings in shares of T. Rowe Price Group by 1.2% during the first quarter. Wealthcare Capital Partners LLC now owns 9,429 shares of the asset manager's stock valued at $866,000 after acquiring an additional 115 shares during the last quarter. Finally, Cullen Investment Group LTD. lifted its position in shares of T. Rowe Price Group by 0.9% in the first quarter. Cullen Investment Group LTD. now owns 13,554 shares of the asset manager's stock valued at $1,245,000 after acquiring an additional 117 shares in the last quarter. Institutional investors and hedge funds own 73.39% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Wells Fargo & Company boosted their price target on T. Rowe Price Group from $98.00 to $108.00 and gave the stock an "equal weight" rating in a research report on Friday, July 11th. Morgan Stanley upped their target price 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. Barclays reissued an "underweight" rating and issued a $95.00 price target (up from $91.00) on shares of T. Rowe Price Group in a research note on Monday, August 4th. Keefe, Bruyette & Woods boosted their price target on shares of T. Rowe Price Group from $110.00 to $112.00 and gave the stock a "market perform" rating in a research report on Monday, August 4th. Finally, Zacks Research downgraded shares of T. Rowe Price Group from a "strong-buy" rating to a "hold" rating in a report on Monday, September 8th. One investment analyst has rated the stock with a Buy rating, eight have given a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat, T. Rowe Price Group has a consensus rating of "Reduce" and an average target price of $101.55.

Insider Buying and Selling

In other news, Director Robert F. Maclellan sold 3,090 shares of the company's stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $105.01, for a total value of $324,480.90. Following the transaction, the director owned 47,335 shares of the company's stock, valued at $4,970,648.35. This represents a 6.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.00% of the stock is owned by corporate insiders.

T. Rowe Price Group Trading Down 1.2%

Shares of TROW opened at $103.45 on Thursday. T. Rowe Price Group, Inc. has a 12-month low of $77.85 and a 12-month high of $125.81. The firm has a market capitalization of $22.73 billion, a P/E ratio of 11.56, a P/E/G ratio of 2.71 and a beta of 1.51. The firm has a 50-day moving average price of $106.24 and a 200 day moving average price of $97.67.

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

T. Rowe Price Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Monday, September 15th will be paid a dividend of $1.27 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $5.08 annualized dividend and a yield of 4.9%. T. Rowe Price Group's dividend payout ratio (DPR) is 56.76%.

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.

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