Guggenheim Capital LLC Buys 19,057 Shares of T. Rowe Price Group, Inc. $TROW

Guggenheim Capital LLC boosted its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 15.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 143,389 shares of the asset manager’s stock after buying an additional 19,057 shares during the period. Guggenheim Capital LLC’s holdings in T. Rowe Price Group were worth $13,837,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. EverSource Wealth Advisors LLC raised its position in shares of T. Rowe Price Group by 44.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,546 shares of the asset manager’s stock worth $149,000 after acquiring an additional 478 shares in the last quarter. Invesco Ltd. grew its stake in T. Rowe Price Group by 0.3% in the second quarter. Invesco Ltd. now owns 3,444,720 shares of the asset manager’s stock worth $332,415,000 after purchasing an additional 11,036 shares during the period. Trek Financial LLC raised its holdings in T. Rowe Price Group by 49.4% in the second quarter. Trek Financial LLC now owns 5,289 shares of the asset manager’s stock worth $510,000 after purchasing an additional 1,748 shares in the last quarter. CW Advisors LLC lifted its position in T. Rowe Price Group by 50.3% during the second quarter. CW Advisors LLC now owns 133,377 shares of the asset manager’s stock valued at $12,871,000 after buying an additional 44,646 shares during the period. Finally, JT Stratford LLC purchased a new position in T. Rowe Price Group during the second quarter valued at $1,261,000. Hedge funds and other institutional investors own 73.39% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. BMO Capital Markets assumed coverage on shares of T. Rowe Price Group in a research report on Friday, October 3rd. They issued a “market perform” rating and a $108.00 target price on the stock. Morgan Stanley boosted their price objective on shares of T. Rowe Price Group from $125.00 to $126.00 and gave the stock an “equal weight” rating in a research note on Monday, October 27th. Evercore ISI raised their target price on shares of T. Rowe Price Group from $115.00 to $118.00 and gave the company an “in-line” rating in a research note on Thursday, October 9th. Barclays set a $101.00 target price on shares of T. Rowe Price Group in a report on Monday, November 3rd. Finally, Keefe, Bruyette & Woods boosted their price target on T. Rowe Price Group from $115.00 to $117.00 and gave the stock a “market perform” rating in a research report on Monday, November 3rd. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat.com, T. Rowe Price Group presently has an average rating of “Reduce” and an average target price of $109.00.

T. Rowe Price Group Trading Up 0.7%

NASDAQ:TROW opened at $105.79 on Friday. The company has a market cap of $23.09 billion, a PE ratio of 11.52, a price-to-earnings-growth ratio of 3.47 and a beta of 1.53. The company has a 50 day simple moving average of $102.80 and a two-hundred day simple moving average of $101.99. T. Rowe Price Group, Inc. has a 12 month low of $77.85 and a 12 month high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings results on Friday, October 31st. The asset manager reported $2.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.55 by $0.26. T. Rowe Price Group had a return on equity of 19.95% and a net margin of 28.89%.The firm had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.88 billion. During the same period last year, the business posted $2.57 EPS. The company’s revenue for the quarter was up 6.0% on a year-over-year basis. Research 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 firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Monday, December 15th will be paid a $1.27 dividend. This represents a $5.08 annualized dividend and a dividend yield of 4.8%. The ex-dividend date is Monday, December 15th. T. Rowe Price Group’s dividend payout ratio is 55.34%.

Insider Activity

In related news, Director Robert F. Maclellan sold 3,090 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the director directly owned 47,335 shares in the company, valued at approximately $4,970,648.35. The trade was a 6.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 2.00% of the company’s stock.

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.