Bartlett & CO. Wealth Management LLC Acquires 238 Shares of T. Rowe Price Group, Inc. $TROW

Bartlett & CO. Wealth Management LLC lifted its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 12.1% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,212 shares of the asset manager’s stock after purchasing an additional 238 shares during the quarter. Bartlett & CO. Wealth Management LLC’s holdings in T. Rowe Price Group were worth $213,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Exchange Traded Concepts LLC boosted its stake in T. Rowe Price Group by 27.9% in the 1st quarter. Exchange Traded Concepts LLC now owns 971 shares of the asset manager’s stock worth $89,000 after purchasing an additional 212 shares in the last quarter. Wealthfront Advisers LLC grew its holdings 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 last quarter. 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 acquiring an additional 14,371 shares in the last quarter. GAMMA Investing LLC increased its position in shares of T. Rowe Price Group by 9,555.5% during the first quarter. GAMMA Investing LLC now owns 333,212 shares of the asset manager’s stock valued at $30,612,000 after acquiring an additional 329,761 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in T. Rowe Price Group by 12.8% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 213,769 shares of the asset manager’s stock worth $19,575,000 after acquiring an additional 24,323 shares during the last quarter. Hedge funds and other institutional investors own 73.39% of the company’s stock.

T. Rowe Price Group Stock Performance

NASDAQ:TROW opened at $101.71 on Friday. The stock has a 50-day simple moving average of $105.78 and a two-hundred day simple moving average of $98.00. The firm has a market capitalization of $22.35 billion, a PE ratio of 11.36, a P/E/G ratio of 2.62 and a beta of 1.50. T. Rowe Price Group, Inc. has a 52-week low of $77.85 and a 52-week high of $125.81.

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

T. Rowe Price Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Monday, September 15th were given a $1.27 dividend. This represents a $5.08 dividend on an annualized basis and a dividend yield of 5.0%. The ex-dividend date was Monday, September 15th. T. Rowe Price Group’s dividend payout ratio is presently 56.76%.

Wall Street Analyst Weigh In

TROW has been the subject of a number of research analyst reports. JPMorgan Chase & Co. lifted their target price on T. Rowe Price Group from $98.00 to $102.00 and gave the stock an “underweight” rating in a report on Monday, August 4th. Morgan Stanley upped their target price on shares of T. Rowe Price Group from $112.00 to $116.00 and gave the company an “equal weight” rating in a research note on Monday, August 4th. Bank of America raised their price target on shares of T. Rowe Price Group from $91.00 to $97.00 and gave the company an “underperform” rating in a report on Thursday. Wells Fargo & Company boosted their price objective on shares of T. Rowe Price Group from $98.00 to $108.00 and gave the company an “equal weight” rating in a report on Friday, July 11th. Finally, Keefe, Bruyette & Woods raised their target price on shares of T. Rowe Price Group from $110.00 to $112.00 and gave the stock a “market perform” rating in a report on Monday, August 4th. One equities research analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat.com, T. Rowe Price Group currently has a consensus rating of “Reduce” and an average target price of $102.64.

Insider Activity at T. Rowe Price Group

In other news, Director Robert F. Maclellan sold 3,090 shares of the firm’s stock in a transaction 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 directly owned 47,335 shares in the company, valued at $4,970,648.35. This trade represents a 6.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 2.00% of the stock is owned by insiders.

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.