Wealthfront Advisers LLC Has $6.07 Million Stock Holdings in T. Rowe Price Group, Inc. $TROW

Wealthfront Advisers LLC decreased its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 9.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 62,862 shares of the asset manager’s stock after selling 6,464 shares during the period. Wealthfront Advisers LLC’s holdings in T. Rowe Price Group were worth $6,066,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Zions Bancorporation National Association UT bought a new stake in shares of T. Rowe Price Group during the 1st quarter worth approximately $27,000. Hexagon Capital Partners LLC increased its holdings in T. Rowe Price Group by 44.8% during the first quarter. Hexagon Capital Partners LLC now owns 365 shares of the asset manager’s stock worth $34,000 after buying an additional 113 shares during the last quarter. Curio Wealth LLC raised its position in T. Rowe Price Group by 20,700.0% during the second quarter. Curio Wealth LLC now owns 416 shares of the asset manager’s stock worth $40,000 after acquiring an additional 414 shares in the last quarter. Smallwood Wealth Investment Management LLC acquired a new stake in T. Rowe Price Group in the first quarter valued at $39,000. Finally, Cromwell Holdings LLC grew its position in shares of T. Rowe Price Group by 3,483.3% in the 2nd quarter. Cromwell Holdings LLC now owns 430 shares of the asset manager’s stock valued at $41,000 after acquiring an additional 418 shares during the period. Institutional investors own 73.39% of the company’s stock.

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 shares were sold at an average price of $105.01, for a total value of $324,480.90. Following the completion of the sale, the director directly owned 47,335 shares in the company, valued at approximately $4,970,648.35. The trade was a 6.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.60% of the company’s stock.

T. Rowe Price Group Price Performance

TROW stock opened at $104.96 on Wednesday. T. Rowe Price Group, Inc. has a fifty-two week low of $77.85 and a fifty-two week high of $125.81. The stock has a market capitalization of $23.06 billion, a price-to-earnings ratio of 11.73, a PEG ratio of 5.75 and a beta of 1.50. The business’s fifty day moving average price is $105.28 and its two-hundred day moving average price is $99.92.

T. Rowe Price Group (NASDAQ:TROW) last announced its earnings results on Friday, August 1st. The asset manager reported $2.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.15 by $0.09. T. Rowe Price Group had a net margin of 28.72% and a return on equity of 19.77%. The company had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.72 billion. During the same quarter in the previous year, the business posted $2.26 earnings per share. T. Rowe Price Group’s quarterly revenue was down .6% on a year-over-year basis. Research analysts expect 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 announced a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Monday, September 15th were issued a dividend of $1.27 per share. The ex-dividend date of this dividend was Monday, September 15th. This represents a $5.08 annualized dividend and a dividend yield of 4.8%. T. Rowe Price Group’s dividend payout ratio (DPR) is currently 56.76%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on TROW shares. Keefe, Bruyette & Woods raised their target price on shares of T. Rowe Price Group from $112.00 to $115.00 and gave the company a “hold” rating in a research note on Monday, October 13th. Jefferies Financial Group raised their price objective on T. Rowe Price Group from $104.00 to $106.00 and gave the company a “hold” rating in a research report on Tuesday, October 7th. BMO Capital Markets began coverage on T. Rowe Price Group in a research note on Friday, October 3rd. They set a “market perform” rating and a $108.00 target price for the company. Deutsche Bank Aktiengesellschaft increased their price target on T. Rowe Price Group from $109.00 to $114.00 and gave the company a “hold” rating in a research note on Thursday, October 9th. Finally, JPMorgan Chase & Co. raised their price target on T. Rowe Price Group from $102.00 to $109.00 and gave the company an “underweight” rating in a report on Wednesday, October 15th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Hold rating and four have given a Sell rating to the stock. According to MarketBeat.com, T. Rowe Price Group has a consensus rating of “Reduce” and an average price target of $107.62.

About T. Rowe Price Group

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.