Wedmont Private Capital Invests $226,000 in T. Rowe Price Group, Inc. $TROW

Wedmont Private Capital purchased a new position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 2,229 shares of the asset manager’s stock, valued at approximately $226,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of T. Rowe Price Group by 0.9% in the first quarter. Vanguard Group Inc. now owns 26,286,393 shares of the asset manager’s stock valued at $2,414,931,000 after acquiring an additional 222,556 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of T. Rowe Price Group by 7.2% in the first quarter. Charles Schwab Investment Management Inc. now owns 7,706,251 shares of the asset manager’s stock valued at $707,973,000 after acquiring an additional 519,075 shares in the last quarter. Invesco Ltd. lifted its position in shares of T. Rowe Price Group by 43.2% in the first quarter. Invesco Ltd. now owns 3,433,684 shares of the asset manager’s stock valued at $315,453,000 after acquiring an additional 1,035,865 shares in the last quarter. American Century Companies Inc. increased its holdings in shares of T. Rowe Price Group by 4.9% in the first quarter. American Century Companies Inc. now owns 2,955,703 shares of the asset manager’s stock valued at $271,541,000 after purchasing an additional 138,515 shares during the last quarter. Finally, Northern Trust Corp increased its holdings in shares of T. Rowe Price Group by 3.6% in the first quarter. Northern Trust Corp now owns 2,374,063 shares of the asset manager’s stock valued at $218,105,000 after purchasing an additional 83,324 shares during the last quarter. Hedge funds and other institutional investors own 73.39% of the company’s stock.

T. Rowe Price Group Price Performance

Shares of NASDAQ:TROW opened at $105.99 on Monday. The business’s 50 day simple moving average is $106.09 and its 200-day simple moving average is $97.55. The firm has a market capitalization of $23.29 billion, a price-to-earnings ratio of 11.84, a price-to-earnings-growth ratio of 2.75 and a beta of 1.51. 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 announced its quarterly 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 return on equity of 19.77% and a net margin of 28.72%.The business had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.72 billion. During the same quarter in the previous year, the company earned $2.26 EPS. The company’s quarterly revenue was down .6% on a year-over-year basis. On average, equities analysts anticipate 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 announced a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Monday, September 15th will be paid a $1.27 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $5.08 dividend on an annualized basis and a yield of 4.8%. T. Rowe Price Group’s dividend payout ratio is presently 56.76%.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. JPMorgan Chase & Co. increased their price target on T. Rowe Price Group from $98.00 to $102.00 and gave the company an “underweight” rating in a report on Monday, August 4th. Evercore ISI reissued a “positive” rating on shares of T. Rowe Price Group in a research note on Friday, September 5th. Barclays restated an “underweight” rating and set a $95.00 price target (up from $91.00) on shares of T. Rowe Price Group in a research report on Monday, August 4th. Zacks Research lowered T. Rowe Price Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 8th. Finally, Wells Fargo & Company lifted their target price on T. Rowe Price Group from $98.00 to $108.00 and gave the company an “equal weight” rating in a report on Friday, July 11th. One analyst has rated the stock with a Buy rating, eight have given a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat.com, T. Rowe Price Group has an average rating of “Reduce” and an average target price of $101.55.

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.