Nicholson Wealth Management Group LLC Grows Position in T. Rowe Price Group, Inc. $TROW

Nicholson Wealth Management Group LLC lifted its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 3.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 14,060 shares of the asset manager’s stock after purchasing an additional 417 shares during the quarter. Nicholson Wealth Management Group LLC’s holdings in T. Rowe Price Group were worth $1,357,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of TROW. Zions Bancorporation National Association UT purchased a new position in shares of T. Rowe Price Group during the 1st quarter worth $27,000. Hexagon Capital Partners LLC boosted its holdings in T. Rowe Price Group by 44.8% during the 1st quarter. Hexagon Capital Partners LLC now owns 365 shares of the asset manager’s stock valued at $34,000 after acquiring an additional 113 shares during the period. Smallwood Wealth Investment Management LLC purchased a new position in T. Rowe Price Group during the 1st quarter valued at about $39,000. Chilton Capital Management LLC purchased a new position in T. Rowe Price Group during the 1st quarter valued at about $41,000. Finally, Cromwell Holdings LLC boosted its holdings in 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 acquiring an additional 418 shares during the period. 73.39% of the stock is currently owned by hedge funds and other institutional investors.

T. Rowe Price Group Price Performance

TROW stock opened at $103.70 on Friday. The firm has a market capitalization of $22.78 billion, a P/E ratio of 11.59, a P/E/G ratio of 5.66 and a beta of 1.50. The business’s 50-day moving average is $105.78 and its two-hundred day moving average is $98.84. T. Rowe Price Group, Inc. has a 1 year low of $77.85 and a 1 year high of $125.81.

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

T. Rowe Price Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Monday, September 15th were given a dividend of $1.27 per share. This represents a $5.08 annualized dividend and a dividend yield of 4.9%. The ex-dividend date of this dividend was Monday, September 15th. T. Rowe Price Group’s dividend payout ratio (DPR) is 56.76%.

Insider Buying and Selling at T. Rowe Price Group

In other news, Director Robert F. Maclellan sold 3,090 shares of the firm’s stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $105.01, for a total transaction of $324,480.90. Following the sale, the director owned 47,335 shares of the company’s stock, valued at approximately $4,970,648.35. This trade represents a 6.13% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on TROW shares. TD Cowen raised their target price on T. Rowe Price Group from $103.00 to $108.00 and gave the company a “hold” rating in a report on Wednesday, October 8th. Morgan Stanley raised their target price on T. Rowe Price Group from $116.00 to $125.00 and gave the company a “positive” rating in a report on Monday, October 6th. Bank of America raised their target price on T. Rowe Price Group from $91.00 to $97.00 and gave the company an “underperform” rating in a report on Thursday, October 2nd. JPMorgan Chase & Co. raised their target price on T. Rowe Price Group from $102.00 to $109.00 and gave the company an “underweight” rating in a report on Wednesday. Finally, Jefferies Financial Group raised their target price on T. Rowe Price Group from $104.00 to $106.00 and gave the company a “hold” rating in a report on Tuesday, October 7th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, ten have given a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average target price of $106.92.

About T. Rowe Price Group

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.