Chicago Partners Investment Group LLC Raises Stake in T. Rowe Price Group, Inc. $TROW

Chicago Partners Investment Group LLC grew its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 18.5% during the 2nd quarter, Holdings Channel.com reports. The firm owned 2,737 shares of the asset manager’s stock after acquiring an additional 427 shares during the period. Chicago Partners Investment Group LLC’s holdings in T. Rowe Price Group were worth $264,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Zions Bancorporation National Association UT bought a new position in shares of T. Rowe Price Group during the 1st quarter valued at about $27,000. Hexagon Capital Partners LLC increased its position in shares of T. Rowe Price Group by 44.8% during the 1st quarter. Hexagon Capital Partners LLC now owns 365 shares of the asset manager’s stock valued at $34,000 after purchasing an additional 113 shares during the last quarter. Smallwood Wealth Investment Management LLC bought a new position in shares of T. Rowe Price Group during the 1st quarter valued at about $39,000. Chilton Capital Management LLC bought a new position in shares of T. Rowe Price Group during the 1st quarter valued at about $41,000. Finally, Cromwell Holdings LLC increased its position in shares of T. Rowe Price Group by 3,483.3% during the 2nd quarter. Cromwell Holdings LLC now owns 430 shares of the asset manager’s stock valued at $41,000 after purchasing an additional 418 shares during the last quarter. 73.39% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on TROW shares. Zacks Research upgraded T. Rowe Price Group from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 10th. The Goldman Sachs Group raised their price target on T. Rowe Price Group from $91.00 to $92.00 and gave the stock a “sell” rating in a research report on Friday, October 3rd. TD Cowen raised their price target on T. Rowe Price Group from $103.00 to $108.00 and gave the stock a “hold” rating in a research report on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft raised their price target on T. Rowe Price Group from $109.00 to $114.00 and gave the stock a “hold” rating in a research report on Thursday, October 9th. Finally, Barclays raised their price target on T. Rowe Price Group from $95.00 to $103.00 and gave the stock an “underweight” rating in a research report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, ten have issued a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus target price of $107.54.

T. Rowe Price Group Stock Performance

Shares of TROW stock opened at $103.55 on Friday. The firm has a market cap of $22.75 billion, a P/E ratio of 11.57, a P/E/G ratio of 5.62 and a beta of 1.50. T. Rowe Price Group, Inc. has a fifty-two week low of $77.85 and a fifty-two week high of $125.81. The business’s 50 day moving average price is $105.34 and its 200-day moving average price is $99.48.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings data on Friday, August 1st. The asset manager reported $2.24 earnings per share for the quarter, topping analysts’ consensus estimates of $2.15 by $0.09. The firm had revenue of $1.72 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period last year, the company earned $2.26 EPS. As a group, equities analysts predict that T. Rowe Price Group, Inc. will post 9.29 EPS for the current year.

T. Rowe Price Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Stockholders 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 4.9%. The ex-dividend date was Monday, September 15th. T. Rowe Price Group’s dividend payout ratio (DPR) is currently 56.76%.

Insider Buying and Selling at T. Rowe Price Group

In other news, Director Robert F. Maclellan sold 3,090 shares of T. Rowe Price Group 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 sale, the director directly owned 47,335 shares in the company, valued at approximately $4,970,648.35. This trade represents a 6.13% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.00% of the company’s stock.

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.