T. Rowe Price Group Inc (TROW) Shares Bought by Wells Fargo & Company MN
Wells Fargo & Company MN raised its stake in T. Rowe Price Group Inc (NASDAQ:TROW) by 7.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,584,545 shares of the asset manager’s stock after buying an additional 104,997 shares during the period. Wells Fargo & Company MN owned 0.66% of T. Rowe Price Group worth $173,000,000 at the end of the most recent quarter.
Other institutional investors also recently modified their holdings of the company. Townsend & Associates Inc acquired a new stake in T. Rowe Price Group in the third quarter valued at approximately $135,000. Focused Wealth Management Inc acquired a new stake in T. Rowe Price Group in the second quarter valued at approximately $139,000. Signature Estate & Investment Advisors LLC acquired a new stake in T. Rowe Price Group in the second quarter valued at approximately $151,000. Parallel Advisors LLC boosted its position in T. Rowe Price Group by 169.1% in the second quarter. Parallel Advisors LLC now owns 1,448 shares of the asset manager’s stock valued at $168,000 after buying an additional 910 shares in the last quarter. Finally, Transamerica Financial Advisors Inc. acquired a new stake in T. Rowe Price Group in the second quarter valued at approximately $190,000. Hedge funds and other institutional investors own 70.99% of the company’s stock.
A number of brokerages have weighed in on TROW. Deutsche Bank cut their target price on shares of T. Rowe Price Group from $136.00 to $135.00 and set a “buy” rating on the stock in a research report on Thursday, August 16th. Citigroup cut their price target on shares of T. Rowe Price Group from $113.00 to $105.00 and set a “hold” rating on the stock in a report on Monday, October 29th. ValuEngine lowered shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Wednesday, July 25th. Zacks Investment Research upgraded shares of T. Rowe Price Group from a “hold” rating to a “buy” rating and set a $122.00 price target on the stock in a report on Thursday, October 11th. Finally, Credit Suisse Group cut their price target on shares of T. Rowe Price Group from $161.00 to $123.00 and set an “outperform” rating on the stock in a report on Friday, October 26th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $114.11.
T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings results on Thursday, October 25th. The asset manager reported $2.30 EPS for the quarter, topping analysts’ consensus estimates of $1.93 by $0.37. The company had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.38 billion. T. Rowe Price Group had a net margin of 33.98% and a return on equity of 29.52%. During the same quarter in the previous year, the business earned $1.56 earnings per share. Research analysts forecast that T. Rowe Price Group Inc will post 7.37 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 28th. Stockholders of record on Friday, December 14th will be issued a dividend of $0.70 per share. The ex-dividend date is Thursday, December 13th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.84%. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 51.57%.
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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.
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