Rowlandmiller & PARTNERS.ADV Boosts Holdings in T. Rowe Price Group, Inc. $TROW

Rowlandmiller & PARTNERS.ADV lifted its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 2.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 38,995 shares of the asset manager’s stock after buying an additional 794 shares during the period. Rowlandmiller & PARTNERS.ADV’s holdings in T. Rowe Price Group were worth $3,763,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. grew its position in shares of 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 valued at $2,414,931,000 after buying an additional 222,556 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of 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 valued at $707,973,000 after buying an additional 519,075 shares during the last quarter. Invesco Ltd. grew its position 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 during the last quarter. American Century Companies Inc. grew its position in shares of T. Rowe Price Group by 4.9% in the 1st quarter. American Century Companies Inc. now owns 2,955,703 shares of the asset manager’s stock valued at $271,541,000 after buying an additional 138,515 shares during the last quarter. Finally, Northern Trust Corp grew its position in shares of T. Rowe Price Group by 3.6% in the 1st quarter. Northern Trust Corp now owns 2,374,063 shares of the asset manager’s stock valued at $218,105,000 after buying an additional 83,324 shares during the last quarter. 73.39% of the stock is owned by hedge funds and other institutional investors.

T. Rowe Price Group Stock Performance

TROW stock opened at $105.63 on Friday. T. Rowe Price Group, Inc. has a one year low of $77.85 and a one year high of $125.81. The stock has a market capitalization of $23.21 billion, a PE ratio of 11.80, a price-to-earnings-growth ratio of 2.76 and a beta of 1.51. The company has a fifty day moving average of $105.69 and a 200-day moving average of $97.53.

T. Rowe Price Group (NASDAQ:TROW) 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. 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 during the quarter, compared to analysts’ expectations of $1.72 billion. During the same quarter last year, the business earned $2.26 EPS. The business’s revenue was down .6% on a year-over-year basis. Equities analysts forecast that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

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

Analysts Set New Price Targets

A number of analysts recently weighed in on TROW shares. JPMorgan Chase & Co. increased their price target on shares of T. Rowe Price Group from $98.00 to $102.00 and gave the stock an “underweight” rating in a research note on Monday, August 4th. Wells Fargo & Company increased their price target on shares of T. Rowe Price Group from $98.00 to $108.00 and gave the stock an “equal weight” rating in a research note on Friday, July 11th. Barclays reiterated an “underweight” rating and set a $95.00 price target (up previously from $91.00) on shares of T. Rowe Price Group in a research note on Monday, August 4th. Morgan Stanley increased their price target on shares of T. Rowe Price Group from $112.00 to $116.00 and gave the stock an “equal weight” rating in a research note on Monday, August 4th. Finally, Zacks Research cut shares of T. Rowe Price Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 8th. One research analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat, T. Rowe Price Group has a consensus rating of “Reduce” and a consensus price target of $101.55.

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.