1834 Investment Advisors Co. Acquires 1,663 Shares of T. Rowe Price Group, Inc. $TROW

1834 Investment Advisors Co. boosted its position in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 6.0% during the 2nd quarter, HoldingsChannel reports. The firm owned 29,365 shares of the asset manager’s stock after purchasing an additional 1,663 shares during the period. 1834 Investment Advisors Co.’s holdings in T. Rowe Price Group were worth $2,834,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of TROW. Invesco Ltd. boosted its position in T. Rowe Price Group by 43.2% in the first quarter. Invesco Ltd. now owns 3,433,684 shares of the asset manager’s stock worth $315,453,000 after purchasing an additional 1,035,865 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in T. Rowe Price Group by 7.2% in 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 purchasing an additional 519,075 shares during the last quarter. GAMMA Investing LLC boosted its position in T. Rowe Price Group by 9,555.5% in the first quarter. GAMMA Investing LLC now owns 333,212 shares of the asset manager’s stock worth $30,612,000 after purchasing an additional 329,761 shares during the last quarter. Vanguard Group Inc. boosted its position in T. Rowe Price Group by 0.9% in 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. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its position in T. Rowe Price Group by 505.5% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 172,709 shares of the asset manager’s stock worth $15,867,000 after purchasing an additional 144,187 shares during the last quarter. 73.39% of the stock is owned by hedge funds and other institutional investors.

T. Rowe Price Group Trading Up 0.3%

NASDAQ TROW opened at $103.47 on Friday. The stock’s 50 day moving average is $106.13 and its 200 day moving average is $97.75. T. Rowe Price Group, Inc. has a 12 month low of $77.85 and a 12 month high of $125.81. The stock has a market cap of $22.73 billion, a PE ratio of 11.56, a P/E/G ratio of 2.68 and a beta of 1.51.

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, topping analysts’ consensus estimates of $2.15 by $0.09. T. Rowe Price Group had a return on equity of 19.77% and a net margin of 28.72%.The company had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.72 billion. During the same period in the previous year, the firm earned $2.26 EPS. The firm’s revenue was down .6% compared to the same quarter last year. On average, analysts forecast that T. Rowe Price Group, Inc. will post 9.29 EPS for the current fiscal year.

T. Rowe Price Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Monday, September 15th will be issued a $1.27 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $5.08 dividend on an annualized basis and a yield of 4.9%. T. Rowe Price Group’s payout ratio is currently 56.76%.

Insider Buying and Selling

In related news, Director Robert F. Maclellan sold 3,090 shares of the business’s stock in a transaction that occurred 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 transaction, the director directly owned 47,335 shares of the company’s stock, valued at approximately $4,970,648.35. The trade was a 6.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.00% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Zacks Research cut T. Rowe Price Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 8th. Wells Fargo & Company lifted their price objective on T. Rowe Price Group from $98.00 to $108.00 and gave the company an “equal weight” rating in a research report on Friday, July 11th. Keefe, Bruyette & Woods lifted their price objective on 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. Barclays reaffirmed an “underweight” rating and set a $95.00 price objective (up from $91.00) on shares of T. Rowe Price Group in a research report on Monday, August 4th. Finally, JPMorgan Chase & Co. lifted their price objective on T. Rowe Price Group from $98.00 to $102.00 and gave the company an “underweight” rating in a research report on Monday, August 4th. One research analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average price target of $101.55.

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.