Prospera Financial Services Inc Decreases Stock Position in T. Rowe Price Group, Inc. $TROW

Prospera Financial Services Inc decreased its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 55.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,076 shares of the asset manager’s stock after selling 7,616 shares during the quarter. Prospera Financial Services Inc’s holdings in T. Rowe Price Group were worth $587,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. AGF Management Ltd. acquired a new stake in T. Rowe Price Group in the second quarter valued at approximately $217,000. Summit Investment Advisors Inc. increased its position in shares of T. Rowe Price Group by 10.9% in the 1st quarter. Summit Investment Advisors Inc. now owns 15,260 shares of the asset manager’s stock valued at $1,402,000 after purchasing an additional 1,503 shares during the last quarter. AE Wealth Management LLC increased its position in shares of T. Rowe Price Group by 11,027.9% in the 2nd quarter. AE Wealth Management LLC now owns 245,037 shares of the asset manager’s stock valued at $23,646,000 after purchasing an additional 242,835 shares during the last quarter. Wedbush Securities Inc. raised its holdings in shares of T. Rowe Price Group by 3.5% in the 2nd quarter. Wedbush Securities Inc. now owns 8,307 shares of the asset manager’s stock valued at $802,000 after purchasing an additional 281 shares in the last quarter. Finally, Twin Capital Management Inc. lifted its holdings in T. Rowe Price Group by 1.7% during the 2nd quarter. Twin Capital Management Inc. now owns 30,610 shares of the asset manager’s stock worth $2,954,000 after buying an additional 498 shares during the last quarter. Institutional investors and hedge funds own 73.39% of the company’s stock.

T. Rowe Price Group Stock Performance

Shares of T. Rowe Price Group stock opened at $101.72 on Friday. T. Rowe Price Group, Inc. has a one year low of $77.85 and a one year high of $125.81. The company has a market cap of $22.20 billion, a P/E ratio of 11.37, a PEG ratio of 5.61 and a beta of 1.51. The firm has a fifty day moving average of $104.02 and a two-hundred day moving average of $101.23.

T. Rowe Price Group (NASDAQ:TROW) last issued its earnings results on Friday, October 31st. The asset manager reported $2.81 earnings per share for the quarter, beating the consensus estimate of $2.55 by $0.26. The business had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.88 billion. T. Rowe Price Group had a net margin of 28.72% and a return on equity of 19.77%. The business’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.57 earnings per share. As a group, equities analysts predict that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

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

Insiders Place Their Bets

In other T. Rowe Price Group news, Director Robert F. Maclellan sold 3,090 shares of the stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $105.01, for a total value of $324,480.90. Following the completion of the transaction, the director 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.00% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on TROW shares. Zacks Research raised T. Rowe Price Group from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 10th. Bank of America lifted their target price on T. Rowe Price Group from $91.00 to $97.00 and gave the stock an “underperform” rating in a research report on Thursday, October 2nd. The Goldman Sachs Group upped their target price on T. Rowe Price Group from $93.00 to $98.00 in a research report on Monday, November 3rd. Deutsche Bank Aktiengesellschaft lifted their price target on T. Rowe Price Group from $112.00 to $113.00 and gave the stock a “hold” rating in a research report on Friday. Finally, JPMorgan Chase & Co. lifted their target price on shares of T. Rowe Price Group from $109.00 to $111.00 and gave the company an “underweight” rating in a report on Monday, November 3rd. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Reduce” and an average price target 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.