Folger Nolan Fleming Douglas Capital Management Inc. Raises Stock Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Folger Nolan Fleming Douglas Capital Management Inc. increased its stake in T. Rowe Price Group, Inc. (NASDAQ:TROWGet Rating) by 1.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 93,105 shares of the asset manager’s stock after purchasing an additional 1,082 shares during the quarter. T. Rowe Price Group accounts for 1.4% of Folger Nolan Fleming Douglas Capital Management Inc.’s portfolio, making the stock its 22nd largest position. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in T. Rowe Price Group were worth $10,578,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Renaissance Technologies LLC bought a new stake in T. Rowe Price Group during the fourth quarter valued at about $7,522,000. Invesco Ltd. grew its holdings in T. Rowe Price Group by 14.5% during the fourth quarter. Invesco Ltd. now owns 1,365,015 shares of the asset manager’s stock valued at $268,416,000 after purchasing an additional 172,734 shares during the period. Rockefeller Capital Management L.P. grew its holdings in T. Rowe Price Group by 20.9% during the fourth quarter. Rockefeller Capital Management L.P. now owns 21,212 shares of the asset manager’s stock valued at $4,170,000 after purchasing an additional 3,668 shares during the period. Mutual Advisors LLC grew its holdings in T. Rowe Price Group by 6.5% during the fourth quarter. Mutual Advisors LLC now owns 8,416 shares of the asset manager’s stock valued at $1,655,000 after purchasing an additional 510 shares during the period. Finally, Nissay Asset Management Corp Japan ADV grew its holdings in T. Rowe Price Group by 3.0% during the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 28,661 shares of the asset manager’s stock valued at $5,636,000 after purchasing an additional 822 shares during the period. Hedge funds and other institutional investors own 74.94% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on TROW. Deutsche Bank Aktiengesellschaft upped their price objective on T. Rowe Price Group from $120.00 to $138.00 and gave the stock a “hold” rating in a research note on Friday, August 12th. The Goldman Sachs Group decreased their price objective on 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. Morgan Stanley reduced their price target on T. Rowe Price Group from $124.00 to $123.00 and set an “equal weight” rating on the stock in a report on Friday, July 29th. BMO Capital Markets reduced their price target on T. Rowe Price Group from $135.00 to $115.00 in a report on Monday, August 1st. Finally, UBS Group reduced their price target on T. Rowe Price Group from $88.00 to $84.00 and set a “sell” rating on the stock in a report on Friday, July 29th. Five investment analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $132.30.

T. Rowe Price Group Stock Down 1.8 %

NASDAQ:TROW traded down $1.98 during midday trading on Friday, hitting $105.73. The stock had a trading volume of 33,443 shares, compared to its average volume of 1,796,453. T. Rowe Price Group, Inc. has a one year low of $104.72 and a one year high of $223.36. The company has a market capitalization of $23.86 billion, a price-to-earnings ratio of 10.40, a PEG ratio of 2.26 and a beta of 1.29. The stock has a 50-day moving average of $121.51 and a 200 day moving average of $126.67.

T. Rowe Price Group (NASDAQ:TROWGet Rating) last announced its earnings results on Thursday, July 28th. The asset manager reported $1.79 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.64 by ($0.85). The company had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.68 billion. T. Rowe Price Group had a net margin of 33.26% and a return on equity of 28.18%. The firm’s revenue was down 20.4% compared to the same quarter last year. During the same period last year, the business posted $3.31 EPS. On average, sell-side analysts anticipate that T. Rowe Price Group, Inc. will post 8.24 earnings per share for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 29th. Shareholders of record on Thursday, September 15th will be given a dividend of $1.20 per share. The ex-dividend date is Wednesday, September 14th. This represents a $4.80 annualized dividend and a yield of 4.54%. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 46.33%.

Insider Buying and Selling at T. Rowe Price Group

In other news, insider Jessica M. Hiebler sold 959 shares of the stock in a transaction on Tuesday, August 2nd. The stock was sold at an average price of $124.57, for a total transaction of $119,462.63. Following the completion of the sale, the insider now owns 12,183 shares in the company, valued at approximately $1,517,636.31. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, VP Andrew Justin Mackenzi Thomson sold 11,891 shares of the firm’s stock in a transaction on Thursday, August 4th. The stock was sold at an average price of $126.91, for a total value of $1,509,086.81. Following the completion of the transaction, the vice president now owns 136,410 shares in the company, valued at approximately $17,311,793.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jessica M. Hiebler sold 959 shares of the firm’s stock in a transaction on Tuesday, August 2nd. The stock was sold at an average price of $124.57, for a total value of $119,462.63. Following the completion of the transaction, the insider now 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. Insiders own 1.00% of the company’s stock.

T. Rowe Price Group Profile

(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.

Further Reading

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

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