Coordinated Financial Services Inc. Acquires New Holdings in T. Rowe Price Group, Inc. $TROW

Coordinated Financial Services Inc. acquired a new stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) during the second quarter, HoldingsChannel reports. The fund acquired 2,275 shares of the asset manager’s stock, valued at approximately $220,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Callan Family Office LLC lifted its position in T. Rowe Price Group by 99.2% during the second quarter. Callan Family Office LLC now owns 5,076 shares of the asset manager’s stock valued at $490,000 after purchasing an additional 2,528 shares during the period. Blair William & Co. IL lifted its position in T. Rowe Price Group by 2.7% during the second quarter. Blair William & Co. IL now owns 228,706 shares of the asset manager’s stock valued at $22,070,000 after purchasing an additional 5,965 shares during the period. Windle Wealth LLC lifted its position in T. Rowe Price Group by 13.6% during the second quarter. Windle Wealth LLC now owns 73,624 shares of the asset manager’s stock valued at $7,105,000 after purchasing an additional 8,832 shares during the period. Capital Management Associates Inc bought a new position in T. Rowe Price Group during the second quarter valued at approximately $444,000. Finally, PARK CIRCLE Co raised its position in T. Rowe Price Group by 7.8% in the second quarter. PARK CIRCLE Co now owns 69,345 shares of the asset manager’s stock worth $6,692,000 after acquiring an additional 5,000 shares during the period. Institutional investors own 73.39% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Keefe, Bruyette & Woods increased their price target on shares of T. Rowe Price Group from $110.00 to $112.00 and gave the stock a “market perform” rating in a research report on Monday, August 4th. Deutsche Bank Aktiengesellschaft increased their price target on shares of T. Rowe Price Group from $109.00 to $114.00 and gave the stock a “hold” rating in a research report on Thursday. Morgan Stanley increased their price target on shares of T. Rowe Price Group from $116.00 to $125.00 and gave the stock a “positive” rating in a research report on Monday. Weiss Ratings reiterated a “hold (c)” rating on shares of T. Rowe Price Group in a research report on Wednesday. Finally, Wells Fargo & Company increased their price target on shares of T. Rowe Price Group from $98.00 to $108.00 and gave the stock an “equal weight” rating in a research report on Friday, July 11th. One investment analyst has rated the stock with a Buy rating, eleven have issued a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average price target of $104.69.

Insiders Place Their Bets

In related 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 completion of the transaction, the director directly owned 47,335 shares of the company’s stock, valued at approximately $4,970,648.35. This trade represents a 6.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 2.00% of the company’s stock.

T. Rowe Price Group Price Performance

Shares of NASDAQ TROW opened at $101.43 on Friday. The firm has a fifty day moving average price of $105.82 and a 200-day moving average price of $98.43. The stock has a market cap of $22.29 billion, a PE ratio of 11.33, a price-to-earnings-growth ratio of 6.84 and a beta of 1.50. T. Rowe Price Group, Inc. has a 1 year low of $77.85 and a 1 year high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings data on Friday, August 1st. The asset manager reported $2.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.15 by $0.09. The firm had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.72 billion. T. Rowe Price Group had a net margin of 28.72% and a return on equity of 19.77%. The company’s revenue for the quarter was down .6% compared to the same quarter last year. During the same period in the prior year, the company posted $2.26 earnings per share. On average, research analysts expect that T. Rowe Price Group, Inc. will post 9.29 EPS for the current year.

T. Rowe Price Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Monday, September 15th were paid a dividend of $1.27 per share. This represents a $5.08 annualized dividend and a yield of 5.0%. The ex-dividend date of this dividend was Monday, September 15th. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 56.76%.

T. Rowe Price Group 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.