Moran Wealth Management LLC Acquires 1,736 Shares of T. Rowe Price Group, Inc. $TROW

Moran Wealth Management LLC grew its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 2.0% during the 2nd quarter, Holdings Channel reports. The fund owned 89,611 shares of the asset manager’s stock after buying an additional 1,736 shares during the period. Moran Wealth Management LLC’s holdings in T. Rowe Price Group were worth $8,647,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Zions Bancorporation National Association UT bought a new position in T. Rowe Price Group in the first quarter worth approximately $27,000. Hexagon Capital Partners LLC raised its position in T. Rowe Price Group by 44.8% in the first quarter. Hexagon Capital Partners LLC now owns 365 shares of the asset manager’s stock worth $34,000 after acquiring an additional 113 shares during the period. Smallwood Wealth Investment Management LLC bought a new position in T. Rowe Price Group in the first quarter worth approximately $39,000. Cromwell Holdings LLC raised its position in shares of T. Rowe Price Group by 3,483.3% during the 2nd quarter. Cromwell Holdings LLC now owns 430 shares of the asset manager’s stock valued at $41,000 after purchasing an additional 418 shares during the period. Finally, Chilton Capital Management LLC bought a new stake in shares of T. Rowe Price Group during the 1st quarter valued at $41,000. 73.39% of the stock is currently owned by institutional investors.

Insider Activity at T. Rowe Price Group

In other T. Rowe Price Group news, Director Robert F. Maclellan sold 3,090 shares of T. Rowe Price Group stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $105.01, for a total value of $324,480.90. Following the completion of the transaction, the director directly owned 47,335 shares of the company’s stock, valued at $4,970,648.35. This trade represents a 6.13% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 1.60% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have recently commented on TROW shares. Weiss Ratings restated a “hold (c)” rating on shares of T. Rowe Price Group in a research report on Wednesday, October 8th. The Goldman Sachs Group raised their price objective on shares of T. Rowe Price Group from $91.00 to $92.00 and gave the company a “sell” rating in a research report on Friday, October 3rd. BMO Capital Markets started coverage on shares of T. Rowe Price Group in a research report on Friday, October 3rd. They set a “market perform” rating and a $108.00 price objective on the stock. Bank of America raised their price objective on shares of T. Rowe Price Group from $91.00 to $97.00 and gave the company an “underperform” rating in a research report on Thursday, October 2nd. Finally, Jefferies Financial Group raised their price objective on shares of T. Rowe Price Group from $104.00 to $106.00 and gave the company a “hold” rating in a research report on Tuesday, October 7th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, ten have issued a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Reduce” and an average price target of $106.38.

T. Rowe Price Group Stock Performance

TROW opened at $106.13 on Wednesday. The stock has a market capitalization of $23.32 billion, a price-to-earnings ratio of 11.86, a PEG ratio of 5.80 and a beta of 1.50. The company has a fifty day moving average of $105.82 and a 200 day moving average of $98.64. T. Rowe Price Group, Inc. has a fifty-two week low of $77.85 and a fifty-two week high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last posted its earnings results on Friday, August 1st. The asset manager reported $2.24 earnings per share for the quarter, beating the consensus estimate of $2.15 by $0.09. The company had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.72 billion. T. Rowe Price Group had a net margin of 28.72% and a return on equity of 19.77%. T. Rowe Price Group’s quarterly revenue was down .6% on a year-over-year basis. During the same period last year, the company posted $2.26 earnings per share. On average, equities research analysts forecast that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current year.

T. Rowe Price Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Monday, September 15th were paid a $1.27 dividend. This represents a $5.08 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date of this dividend was Monday, September 15th. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 56.76%.

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.