Coordinated Financial Services Inc. Takes $220,000 Position in T. Rowe Price Group, Inc. $TROW

Coordinated Financial Services Inc. purchased a new stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 2,275 shares of the asset manager’s stock, valued at approximately $220,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Exchange Traded Concepts LLC increased its position in shares of T. Rowe Price Group by 27.9% during the first quarter. Exchange Traded Concepts LLC now owns 971 shares of the asset manager’s stock valued at $89,000 after buying an additional 212 shares during the period. Wealthfront Advisers LLC increased its position in shares of T. Rowe Price Group by 109.2% during the first quarter. Wealthfront Advisers LLC now owns 69,326 shares of the asset manager’s stock valued at $6,369,000 after buying an additional 36,190 shares during the period. Mather Group LLC. increased its position in shares of T. Rowe Price Group by 11.9% during the first quarter. Mather Group LLC. now owns 135,571 shares of the asset manager’s stock valued at $12,455,000 after buying an additional 14,371 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its position in shares of T. Rowe Price Group by 12.8% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 213,769 shares of the asset manager’s stock valued at $19,575,000 after buying an additional 24,323 shares during the period. Finally, Alps Advisors Inc. increased its position in shares of T. Rowe Price Group by 22.9% during the first quarter. Alps Advisors Inc. now owns 308,837 shares of the asset manager’s stock valued at $28,373,000 after buying an additional 57,503 shares during the period. Hedge funds and other institutional investors own 73.39% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on TROW shares. Keefe, Bruyette & Woods boosted their price target on shares of T. Rowe Price Group from $110.00 to $112.00 and gave the company a “market perform” rating in a research report on Monday, August 4th. Morgan Stanley upped their price objective on shares of T. Rowe Price Group from $116.00 to $125.00 and gave the stock a “positive” rating in a report on Monday. JPMorgan Chase & Co. upped their price objective on shares of T. Rowe Price Group from $98.00 to $102.00 and gave the stock an “underweight” rating in a report on Monday, August 4th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of T. Rowe Price Group from $109.00 to $114.00 and gave the stock a “hold” rating in a report on Thursday. Finally, Zacks Research cut shares of T. Rowe Price Group from a “strong-buy” rating to a “hold” rating in a report on Monday, September 8th. One equities research analyst has rated the stock with a Buy rating, eleven have given a Hold rating and four have issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Reduce” and an average price target of $104.69.

Insider Activity at T. Rowe Price Group

In other news, Director Robert F. Maclellan sold 3,090 shares of the stock in a transaction that occurred on Monday, September 22nd. The shares were 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 in the company, valued at $4,970,648.35. This represents a 6.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 2.00% of the stock is currently owned by insiders.

T. Rowe Price Group Stock Down 4.3%

NASDAQ:TROW opened at $101.43 on Friday. The company’s 50 day moving average price is $105.82 and its 200-day moving average price is $98.43. T. Rowe Price Group, Inc. has a 52 week low of $77.85 and a 52 week high of $125.81. The stock has a market cap of $22.29 billion, a price-to-earnings ratio of 11.33, a PEG ratio of 6.84 and a beta of 1.50.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings results on Friday, August 1st. The asset manager reported $2.24 EPS for the quarter, beating analysts’ consensus estimates of $2.15 by $0.09. T. Rowe Price Group had a net margin of 28.72% and a return on equity of 19.77%. The firm had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.72 billion. During the same quarter in the prior year, the company posted $2.26 earnings per share. The business’s revenue for the quarter was down .6% on a year-over-year basis. As a group, sell-side analysts anticipate 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 declared a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Monday, September 15th were issued a dividend of $1.27 per share. The ex-dividend date was Monday, September 15th. This represents a $5.08 dividend on an annualized basis and a dividend yield of 5.0%. T. Rowe Price Group’s dividend payout ratio is presently 56.76%.

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.