Wellington Management Group LLP Buys 69,273 Shares of T. Rowe Price Group, Inc. $TROW

Wellington Management Group LLP lifted its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 69.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 168,537 shares of the asset manager’s stock after buying an additional 69,273 shares during the quarter. Wellington Management Group LLP’s holdings in T. Rowe Price Group were worth $19,161,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. BlackRock Inc. purchased a new stake in T. Rowe Price Group in the second quarter worth about $2,728,119,000. State Street Corp grew its holdings in shares of T. Rowe Price Group by 0.3% during the 4th quarter. State Street Corp now owns 14,159,797 shares of the asset manager’s stock worth $1,449,680,000 after acquiring an additional 45,530 shares during the period. Goldman Sachs Group Inc. grew its holdings in shares of T. Rowe Price Group by 332.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 8,770,071 shares of the asset manager’s stock worth $897,880,000 after acquiring an additional 6,740,172 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of T. Rowe Price Group by 1.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 8,073,846 shares of the asset manager’s stock worth $826,600,000 after acquiring an additional 143,109 shares in the last quarter. Finally, First Trust Advisors LP lifted its stake in shares of T. Rowe Price Group by 12.6% in the 1st quarter. First Trust Advisors LP now owns 3,694,171 shares of the asset manager’s stock valued at $332,993,000 after purchasing an additional 413,317 shares during the period. 73.39% of the stock is owned by institutional investors.

T. Rowe Price Group Price Performance

T. Rowe Price Group stock opened at $109.78 on Monday. T. Rowe Price Group, Inc. has a twelve month low of $85.22 and a twelve month high of $122.00. The company has a market capitalization of $23.42 billion, a P/E ratio of 11.01, a PEG ratio of 3.63 and a beta of 1.46. The stock’s 50 day moving average is $114.64 and its 200 day moving average is $103.95.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings data on Friday, July 31st. The asset manager reported $2.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.52 by $0.05. T. Rowe Price Group had a return on equity of 20.91% and a net margin of 29.26%.The business had revenue of $1.91 billion during the quarter, compared to analysts’ expectations of $1.89 billion. During the same quarter in the previous year, the business earned $2.24 earnings per share. The firm’s quarterly revenue was up 10.7% compared to the same quarter last year. As a group, equities analysts expect that T. Rowe Price Group, Inc. will post 10.16 EPS for the current year.

T. Rowe Price Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 15th will be issued a dividend of $1.30 per share. The ex-dividend date is Tuesday, September 15th. This represents a $5.20 annualized dividend and a dividend yield of 4.7%. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 52.16%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on TROW. Keefe, Bruyette & Woods restated a “market perform” rating and set a $115.00 price target (down from $120.00) on shares of T. Rowe Price Group in a research report on Monday, August 3rd. The Goldman Sachs Group increased their price objective on T. Rowe Price Group from $90.00 to $92.00 and gave the stock a “sell” rating in a report on Tuesday, June 30th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $109.00 price objective on shares of T. Rowe Price Group in a research report on Monday, August 3rd. Weiss Ratings upgraded shares of T. Rowe Price Group from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday. Finally, Zacks Research lowered shares of T. Rowe Price Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 13th. One investment analyst has rated the stock with a Buy rating, nine have assigned a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Reduce” and an average price target of $106.15.

Insider Activity

In other news, VP Joshua Nelson sold 10,000 shares of T. Rowe Price Group stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $111.82, for a total value of $1,118,200.00. Following the completion of the transaction, the vice president owned 71,328 shares of the company’s stock, valued at $7,975,896.96. The trade was a 12.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.60% of the stock is currently owned by corporate insiders.

T. Rowe Price Group Profile

T. Rowe Price Group, Inc is a global investment management firm headquartered in Baltimore, Maryland, founded by Thomas Rowe Price Jr. in 1937. The company provides a broad range of investment products and services for individual investors, financial intermediaries, retirement plan sponsors and institutional clients. Its offerings are built around active investment management and in-house research across equity, fixed income and multi-asset strategies, reflecting a long history as a research-driven asset manager.

The firm’s product lineup includes mutual funds, separate accounts, collective investment trusts, target-date and target-risk funds, and managed account solutions, as well as services for defined contribution and defined benefit retirement plans.