Wealthcare Advisory Partners LLC Buys 5,391 Shares of T. Rowe Price Group, Inc. $TROW

Key Points

• Wealthcare Advisory Partners LLC increased its stake in T. Rowe Price Group by 126.2%, acquiring an additional 5,391 shares, bringing their total holdings to 9,663 shares valued at approximately $932,000.
• Several institutional investors have also significantly boosted their positions in T. Rowe Price Group, with a combined ownership of 73.39% of the company’s stock.
• T. Rowe Price recently announced a quarterly dividend of $1.27, translating to an annualized dividend of $5.08 and a yield of 4.8%.

Wealthcare Advisory Partners LLC grew its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW - Free Report) by 126.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,663 shares of the asset manager's stock after acquiring an additional 5,391 shares during the period. Wealthcare Advisory Partners LLC's holdings in T. Rowe Price Group were worth $932,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in TROW. Exchange Traded Concepts LLC boosted its holdings in T. Rowe Price Group by 27.9% in the 1st quarter. Exchange Traded Concepts LLC now owns 971 shares of the asset manager's stock valued at $89,000 after purchasing an additional 212 shares during the period. Wealthfront Advisers LLC raised its position in shares of T. Rowe Price Group by 109.2% in the first quarter. Wealthfront Advisers LLC now owns 69,326 shares of the asset manager's stock valued at $6,369,000 after buying an additional 36,190 shares in the last quarter. Mather Group LLC. boosted its stake in shares of T. Rowe Price Group by 11.9% in the first quarter. Mather Group LLC. now owns 135,571 shares of the asset manager's stock valued at $12,455,000 after buying an additional 14,371 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in T. Rowe Price Group by 12.8% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 213,769 shares of the asset manager's stock worth $19,575,000 after buying an additional 24,323 shares in the last quarter. Finally, Alps Advisors Inc. increased its stake in T. Rowe Price Group by 22.9% during the 1st quarter. Alps Advisors Inc. now owns 308,837 shares of the asset manager's stock worth $28,373,000 after acquiring an additional 57,503 shares during the period. Institutional investors own 73.39% of the company's stock.

Insider Activity

In related news, Director Robert F. Maclellan sold 3,090 shares of the 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 directly owned 47,335 shares of the company's stock, valued at $4,970,648.35. This represents a 6.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.00% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on TROW. Jefferies Financial Group increased their target price on T. Rowe Price Group from $104.00 to $106.00 and gave the stock a "hold" rating in a report on Tuesday. BMO Capital Markets assumed coverage on T. Rowe Price Group in a research report on Friday, October 3rd. They set a "market perform" rating and a $108.00 price objective for the company. The Goldman Sachs Group raised their price objective on T. Rowe Price Group from $91.00 to $92.00 and gave the company a "sell" rating in a research note on Friday, October 3rd. Bank of America lifted their target price on T. Rowe Price Group from $91.00 to $97.00 and gave the company an "underperform" rating in a research report on Thursday, October 2nd. Finally, Zacks Research cut shares of T. Rowe Price Group from a "strong-buy" rating to a "hold" rating in a report on Monday, September 8th. Two research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat, T. Rowe Price Group has a consensus rating of "Reduce" and a consensus price target of $104.92.

T. Rowe Price Group Trading Up 0.0%

TROW stock opened at $105.82 on Thursday. The firm has a market cap of $23.25 billion, a PE ratio of 11.82, a price-to-earnings-growth ratio of 6.82 and a beta of 1.50. The stock has a 50-day moving average price of $105.76 and a 200-day moving average price of $98.32. T. Rowe Price Group, Inc. has a 1-year low of $77.85 and a 1-year high of $125.81.

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

T. Rowe Price Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Monday, September 15th were paid a $1.27 dividend. The ex-dividend date was Monday, September 15th. This represents a $5.08 annualized dividend and a dividend yield of 4.8%. T. Rowe Price Group's payout ratio is currently 56.76%.

T. Rowe Price Group 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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