Personal CFO Solutions LLC Boosts Stake in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Personal CFO Solutions LLC increased its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 6.3% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,599 shares of the asset manager’s stock after buying an additional 153 shares during the quarter. Personal CFO Solutions LLC’s holdings in T. Rowe Price Group were worth $291,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Bank Julius Baer & Co. Ltd Zurich increased its holdings in shares of T. Rowe Price Group by 98,548.0% in the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 4,336,567 shares of the asset manager’s stock valued at $485,782,000 after acquiring an additional 4,332,171 shares during the period. BlackRock Inc. increased its stake in T. Rowe Price Group by 18.3% in the first quarter. BlackRock Inc. now owns 21,766,218 shares of the asset manager’s stock valued at $2,457,406,000 after purchasing an additional 3,365,883 shares during the period. Norges Bank acquired a new stake in shares of T. Rowe Price Group during the fourth quarter worth about $208,014,000. Vanguard Group Inc. grew its holdings in shares of T. Rowe Price Group by 3.2% during the first quarter. Vanguard Group Inc. now owns 20,183,563 shares of the asset manager’s stock worth $3,051,553,000 after buying an additional 625,340 shares during the last quarter. Finally, Bank of Montreal Can acquired a new position in T. Rowe Price Group in the 2nd quarter valued at about $69,862,000. Institutional investors and hedge funds own 75.85% of the company’s stock.

Insider Transactions at T. Rowe Price Group

In related news, insider William J. Stromberg sold 10,000 shares of the stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $98.48, for a total value of $984,800.00. Following the sale, the insider now directly owns 49,000 shares of the company’s stock, valued at approximately $4,825,520. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, VP Andrew C. Mccormick sold 5,040 shares of the business’s stock in a transaction on Wednesday, September 27th. The stock was sold at an average price of $103.63, for a total value of $522,295.20. Following the completion of the transaction, the vice president now directly owns 64,440 shares of the company’s stock, valued at $6,677,917.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider William J. Stromberg sold 10,000 shares of the company’s stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $98.48, for a total value of $984,800.00. Following the completion of the sale, the insider now owns 49,000 shares in the company, valued at $4,825,520. The disclosure for this sale can be found here. Insiders sold 27,039 shares of company stock valued at $2,848,848 in the last 90 days. 2.10% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on TROW shares. Citigroup upgraded T. Rowe Price Group from a “sell” rating to a “neutral” rating and lowered their target price for the company from $100.00 to $95.00 in a research note on Tuesday, October 31st. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of T. Rowe Price Group from $113.00 to $110.00 and set a “hold” rating on the stock in a research note on Wednesday, October 11th. StockNews.com assumed coverage on shares of T. Rowe Price Group in a research note on Thursday, October 5th. They issued a “hold” rating for the company. Morgan Stanley lowered their target price on shares of T. Rowe Price Group from $109.00 to $101.00 and set an “equal weight” rating on the stock in a report on Monday, October 30th. Finally, UBS Group increased their price target on shares of T. Rowe Price Group from $83.00 to $90.00 and gave the stock a “sell” rating in a report on Monday, July 31st. Five equities research analysts have rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $94.45.

T. Rowe Price Group Trading Up 0.3 %

Shares of TROW opened at $97.79 on Monday. The firm’s 50-day moving average is $100.22 and its two-hundred day moving average is $107.68. T. Rowe Price Group, Inc. has a twelve month low of $87.43 and a twelve month high of $132.76. The firm has a market capitalization of $21.85 billion, a P/E ratio of 13.93, a PEG ratio of 2.21 and a beta of 1.32.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings results on Friday, October 27th. The asset manager reported $2.17 earnings per share for the quarter, topping analysts’ consensus estimates of $1.78 by $0.39. The business had revenue of $1.67 billion for the quarter, compared to analysts’ expectations of $1.65 billion. T. Rowe Price Group had a return on equity of 18.79% and a net margin of 25.50%. The company’s revenue was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.86 EPS. Analysts predict that T. Rowe Price Group, Inc. will post 7.36 EPS for the current year.

T. Rowe Price Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be given a $1.22 dividend. This represents a $4.88 dividend on an annualized basis and a dividend yield of 4.99%. The ex-dividend date of this dividend is Thursday, December 14th. T. Rowe Price Group’s dividend payout ratio is currently 69.52%.

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.