Clearstead Trust LLC Increases Position in T. Rowe Price Group, Inc. $TROW

Clearstead Trust LLC boosted its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 87.3% in the 2nd quarter, Holdings Channel reports. The fund owned 1,236 shares of the asset manager’s stock after purchasing an additional 576 shares during the period. Clearstead Trust LLC’s holdings in T. Rowe Price Group were worth $119,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of TROW. Vanguard Group Inc. boosted its holdings in shares of T. Rowe Price Group by 0.9% during the first quarter. Vanguard Group Inc. now owns 26,286,393 shares of the asset manager’s stock worth $2,414,931,000 after purchasing an additional 222,556 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in T. Rowe Price Group by 7.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 7,706,251 shares of the asset manager’s stock worth $707,973,000 after buying an additional 519,075 shares during the period. Geode Capital Management LLC boosted its stake in T. Rowe Price Group by 3.4% in the 2nd quarter. Geode Capital Management LLC now owns 6,014,236 shares of the asset manager’s stock worth $578,059,000 after buying an additional 197,024 shares during the last quarter. Invesco Ltd. grew its holdings in T. Rowe Price Group by 43.2% in the 1st quarter. Invesco Ltd. now owns 3,433,684 shares of the asset manager’s stock valued at $315,453,000 after buying an additional 1,035,865 shares during the period. Finally, American Century Companies Inc. grew its holdings in T. Rowe Price Group by 4.9% in the 1st quarter. American Century Companies Inc. now owns 2,955,703 shares of the asset manager’s stock valued at $271,541,000 after buying an additional 138,515 shares during the period. 73.39% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at T. Rowe Price Group

In other news, Director Robert F. Maclellan sold 3,090 shares of the company’s 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 in the company, valued at approximately $4,970,648.35. This represents a 6.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 2.00% of the company’s stock.

T. Rowe Price Group Trading Down 1.9%

NASDAQ:TROW opened at $101.72 on Friday. The firm’s fifty day simple moving average is $104.02 and its 200 day simple moving average is $101.23. T. Rowe Price Group, Inc. has a twelve month low of $77.85 and a twelve month high of $125.81. The firm has a market capitalization of $22.20 billion, a price-to-earnings ratio of 11.37, a PEG ratio of 5.61 and a beta of 1.51.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings data on Friday, October 31st. The asset manager reported $2.81 EPS for the quarter, topping analysts’ consensus estimates of $2.55 by $0.26. T. Rowe Price Group had a return on equity of 19.77% and a net margin of 28.72%.The company had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.88 billion. During the same quarter in the previous year, the firm posted $2.57 earnings per share. The firm’s quarterly revenue was up 6.0% on a year-over-year basis. On average, analysts predict that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current year.

T. Rowe Price Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Monday, December 15th will be given a dividend of $1.27 per share. This represents a $5.08 dividend on an annualized basis and a dividend yield of 5.0%. The ex-dividend date of this dividend is Monday, December 15th. T. Rowe Price Group’s payout ratio is presently 55.34%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on TROW shares. Jefferies Financial Group raised their target price on shares of T. Rowe Price Group from $104.00 to $106.00 and gave the stock a “hold” rating in a research report on Tuesday, October 7th. The Goldman Sachs Group increased their price target on shares of T. Rowe Price Group from $93.00 to $98.00 in a research note on Monday, November 3rd. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the company a “hold” rating in a research note on Friday. BMO Capital Markets assumed coverage on T. Rowe Price Group in a report on Friday, October 3rd. They set a “market perform” rating and a $108.00 price objective for the company. Finally, Keefe, Bruyette & Woods lifted their target price on T. Rowe Price Group from $115.00 to $117.00 and gave the company a “market perform” rating in a report on Monday, November 3rd. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat, T. Rowe Price Group presently has a consensus rating of “Reduce” and an average target price of $109.38.

T. Rowe Price Group Company 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.