Northwestern Mutual Wealth Management Co. Has $1.77 Million Holdings in T. Rowe Price Group, Inc. (TROW)

Northwestern Mutual Wealth Management Co. boosted its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 110.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,891 shares of the asset manager’s stock after acquiring an additional 12,534 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in T. Rowe Price Group were worth $1,773,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of TROW. Bronfman E.L. Rothschild L.P. raised its position in T. Rowe Price Group by 6.9% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 1,593 shares of the asset manager’s stock worth $118,000 after acquiring an additional 103 shares in the last quarter. Mosaic Family Wealth LLC raised its position in T. Rowe Price Group by 4.5% during the first quarter. Mosaic Family Wealth LLC now owns 1,967 shares of the asset manager’s stock worth $134,000 after acquiring an additional 85 shares in the last quarter. FNY Partners Fund LP bought a new stake in T. Rowe Price Group during the first quarter worth $147,000. Benjamin F. Edwards & Company Inc. raised its position in T. Rowe Price Group by 103.0% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,119 shares of the asset manager’s stock worth $157,000 after acquiring an additional 1,075 shares in the last quarter. Finally, National Planning Corp bought a new stake in T. Rowe Price Group during the second quarter worth $209,000. 74.20% of the stock is currently owned by hedge funds and other institutional investors.

T. Rowe Price Group, Inc. (NASDAQ TROW) opened at 83.71 on Tuesday. T. Rowe Price Group, Inc. has a 1-year low of $62.97 and a 1-year high of $85.42. The company has a 50 day moving average of $83.14 and a 200 day moving average of $74.81. The firm has a market capitalization of $20.12 billion, a P/E ratio of 14.37 and a beta of 1.24.

T. Rowe Price Group (NASDAQ:TROW) last released its earnings results on Tuesday, July 25th. The asset manager reported $1.28 EPS for the quarter, topping the Zacks’ consensus estimate of $1.27 by $0.01. The company had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.16 billion. T. Rowe Price Group had a return on equity of 24.38% and a net margin of 32.64%. The business’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.76 EPS. On average, equities research analysts anticipate that T. Rowe Price Group, Inc. will post $5.66 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 28th. Stockholders of record on Thursday, September 14th will be paid a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.74%. The ex-dividend date is Wednesday, September 13th. T. Rowe Price Group’s payout ratio is 39.18%.

Several analysts have issued reports on TROW shares. Barclays PLC started coverage on shares of T. Rowe Price Group in a research report on Friday. They set an “underweight” rating and a $79.00 price target on the stock. Jefferies Group LLC reaffirmed a “buy” rating and set a $96.00 price target on shares of T. Rowe Price Group in a research report on Sunday, August 20th. Credit Suisse Group upped their price target on shares of T. Rowe Price Group from $70.00 to $90.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 26th. Citigroup Inc. upped their price target on shares of T. Rowe Price Group from $73.50 to $90.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 26th. Finally, Zacks Investment Research lowered shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Monday, August 21st. Four research analysts have rated the stock with a sell rating, seven have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. T. Rowe Price Group has an average rating of “Hold” and an average price target of $80.30.

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In related news, insider Jessica M. Hiebler sold 1,000 shares of T. Rowe Price Group stock in a transaction dated Thursday, August 31st. The stock was sold at an average price of $84.29, for a total value of $84,290.00. Following the completion of the sale, the insider now owns 8,461 shares of the company’s stock, valued at approximately $713,177.69. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Anne M. Whittemore sold 8,326 shares of T. Rowe Price Group stock in a transaction dated Thursday, July 27th. The stock was sold at an average price of $82.03, for a total value of $682,981.78. Following the completion of the sale, the director now directly owns 28,982 shares of the company’s stock, valued at approximately $2,377,393.46. The disclosure for this sale can be found here. In the last three months, insiders sold 19,720 shares of company stock valued at $1,630,701. 3.60% of the stock is currently owned by insiders.

T. Rowe Price Group Company Profile

T. Rowe Price Group, Inc is a financial services holding company. The Company provides global investment management services through its subsidiaries to investors across the world. The Company provides an array of Company sponsored the United States mutual funds, other sponsored pooled investment vehicles, sub advisory services, separate account management, recordkeeping, and related services to individuals, advisors, institutions, financial intermediaries and retirement plan sponsors.

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

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