Wedmont Private Capital Grows Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Wedmont Private Capital increased its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROWGet Rating) by 68.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,739 shares of the asset manager’s stock after purchasing an additional 1,115 shares during the quarter. Wedmont Private Capital’s holdings in T. Rowe Price Group were worth $311,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. West Oak Capital LLC boosted its holdings in T. Rowe Price Group by 5.3% during the second quarter. West Oak Capital LLC now owns 6,325 shares of the asset manager’s stock worth $719,000 after purchasing an additional 320 shares during the last quarter. American National Bank boosted its holdings in T. Rowe Price Group by 66.3% during the second quarter. American National Bank now owns 9,157 shares of the asset manager’s stock worth $1,040,000 after purchasing an additional 3,651 shares during the last quarter. Brookstone Capital Management boosted its stake in T. Rowe Price Group by 41.9% in the second quarter. Brookstone Capital Management now owns 74,837 shares of the asset manager’s stock valued at $8,678,000 after acquiring an additional 22,090 shares during the last quarter. Triangle Securities Wealth Management boosted its stake in T. Rowe Price Group by 17.6% in the second quarter. Triangle Securities Wealth Management now owns 2,209 shares of the asset manager’s stock valued at $251,000 after acquiring an additional 330 shares during the last quarter. Finally, Radnor Capital Management LLC boosted its stake in T. Rowe Price Group by 5.4% in the second quarter. Radnor Capital Management LLC now owns 2,915 shares of the asset manager’s stock valued at $331,000 after acquiring an additional 150 shares during the last quarter. 74.94% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on TROW shares. Deutsche Bank Aktiengesellschaft boosted their target price on shares of T. Rowe Price Group from $120.00 to $138.00 and gave the company a “hold” rating in a research note on Friday, August 12th. TheStreet lowered shares of T. Rowe Price Group from a “b-” rating to a “c” rating in a research report on Wednesday, July 13th. The Goldman Sachs Group lowered their price target on shares of T. Rowe Price Group from $118.00 to $100.00 and set a “sell” rating on the stock in a research report on Wednesday, June 29th. UBS Group lowered their price target on shares of T. Rowe Price Group from $88.00 to $84.00 and set a “sell” rating on the stock in a research report on Friday, July 29th. Finally, JPMorgan Chase & Co. lowered their price target on shares of T. Rowe Price Group from $117.00 to $94.00 and set an “underweight” rating on the stock in a research report on Monday, July 18th. Five analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, T. Rowe Price Group presently has an average rating of “Hold” and a consensus price target of $132.30.

T. Rowe Price Group Price Performance

TROW stock opened at $113.92 on Tuesday. T. Rowe Price Group, Inc. has a one year low of $104.72 and a one year high of $223.36. The stock has a market cap of $25.71 billion, a PE ratio of 11.00, a P/E/G ratio of 2.26 and a beta of 1.29. The firm has a 50 day simple moving average of $121.64 and a two-hundred day simple moving average of $127.25.

T. Rowe Price Group (NASDAQ:TROWGet Rating) last released its quarterly earnings results on Thursday, July 28th. The asset manager reported $1.79 EPS for the quarter, missing analysts’ consensus estimates of $2.64 by ($0.85). T. Rowe Price Group had a return on equity of 28.18% and a net margin of 33.26%. The company had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.68 billion. During the same period in the prior year, the firm earned $3.31 EPS. T. Rowe Price Group’s quarterly revenue was down 20.4% on a year-over-year basis. On average, research analysts expect that T. Rowe Price Group, Inc. will post 8.24 EPS for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 29th. Shareholders of record on Thursday, September 15th will be paid a $1.20 dividend. The ex-dividend date is Wednesday, September 14th. This represents a $4.80 dividend on an annualized basis and a yield of 4.21%. T. Rowe Price Group’s dividend payout ratio is presently 46.33%.

Insider Activity

In other news, insider Jessica M. Hiebler sold 959 shares of the company’s stock in a transaction on Tuesday, August 2nd. The shares were sold at an average price of $124.57, for a total value of $119,462.63. Following the completion of the sale, the insider now owns 12,183 shares of the company’s stock, valued at approximately $1,517,636.31. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 11,891 shares of the stock in a transaction on Thursday, August 4th. The shares were sold at an average price of $126.91, for a total transaction of $1,509,086.81. Following the completion of the sale, the vice president now owns 136,410 shares of the company’s stock, valued at approximately $17,311,793.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jessica M. Hiebler sold 959 shares of the stock in a transaction on Tuesday, August 2nd. The shares were sold at an average price of $124.57, for a total transaction of $119,462.63. Following the sale, the insider now directly owns 12,183 shares of the company’s stock, valued at approximately $1,517,636.31. The disclosure for this sale can be found here. 2.00% of the stock is owned by corporate insiders.

About T. Rowe Price Group

(Get Rating)

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.

Featured Stories

Institutional Ownership by Quarter for T. Rowe Price Group (NASDAQ:TROW)

Receive News & Ratings for T. Rowe Price Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for T. Rowe Price Group and related companies with MarketBeat.com's FREE daily email newsletter.