T. Rowe Price Group, Inc. (NASDAQ:TROW) Stock Position Lifted by Empirical Financial Services LLC d.b.a. Empirical Wealth Management

Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 12.2% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,654 shares of the asset manager’s stock after buying an additional 398 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in T. Rowe Price Group were worth $723,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in TROW. OLD Mission Capital LLC bought a new position in T. Rowe Price Group during the 3rd quarter worth approximately $5,688,000. Alberta Investment Management Corp acquired a new stake in shares of T. Rowe Price Group during the 1st quarter worth approximately $2,326,000. Cambridge Investment Research Advisors Inc. raised its position in shares of T. Rowe Price Group by 20.4% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 36,922 shares of the asset manager’s stock worth $6,336,000 after purchasing an additional 6,264 shares during the period. Advisors Asset Management Inc. raised its position in shares of T. Rowe Price Group by 4.8% during the 1st quarter. Advisors Asset Management Inc. now owns 21,854 shares of the asset manager’s stock worth $3,750,000 after purchasing an additional 1,007 shares during the period. Finally, Lincoln National Corp raised its position in shares of T. Rowe Price Group by 43.0% during the 1st quarter. Lincoln National Corp now owns 6,109 shares of the asset manager’s stock worth $1,048,000 after purchasing an additional 1,838 shares during the period. 71.04% of the stock is currently owned by institutional investors.

Shares of NASDAQ TROW opened at $211.22 on Friday. The stock has a fifty day moving average price of $212.78 and a two-hundred day moving average price of $195.66. The firm has a market cap of $47.93 billion, a P/E ratio of 16.64, a PEG ratio of 1.86 and a beta of 1.18. T. Rowe Price Group, Inc. has a 1 year low of $122.62 and a 1 year high of $224.55.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings results on Thursday, July 29th. The asset manager reported $3.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.20 by $0.11. The firm had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.91 billion. T. Rowe Price Group had a return on equity of 35.82% and a net margin of 41.93%. On average, analysts predict that T. Rowe Price Group, Inc. will post 12.92 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 29th. Stockholders of record on Wednesday, September 15th will be paid a dividend of $1.08 per share. This represents a $4.32 annualized dividend and a dividend yield of 2.05%. The ex-dividend date of this dividend is Tuesday, September 14th. T. Rowe Price Group’s dividend payout ratio is presently 45.09%.

In other news, insider Jessica M. Hiebler sold 1,150 shares of the firm’s stock in a transaction on Tuesday, August 3rd. The stock was sold at an average price of $207.70, for a total value of $238,855.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William J. Stromberg sold 8,000 shares of the firm’s stock in a transaction on Thursday, August 5th. The stock was sold at an average price of $211.17, for a total value of $1,689,360.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 16,817 shares of company stock valued at $3,622,239. Corporate insiders own 1.00% of the company’s stock.

TROW has been the topic of a number of research reports. Morgan Stanley increased their price target on T. Rowe Price Group from $208.00 to $211.00 and gave the stock an “equal weight” rating in a research report on Monday, August 2nd. UBS Group raised their target price on T. Rowe Price Group from $183.00 to $200.00 and gave the company a “neutral” rating in a research report on Thursday, July 8th. Jefferies Financial Group started coverage on T. Rowe Price Group in a research report on Friday, September 10th. They issued a “buy” rating and a $245.00 target price on the stock. Deutsche Bank Aktiengesellschaft raised their target price on T. Rowe Price Group from $171.00 to $185.00 and gave the company a “hold” rating in a research report on Monday, July 12th. They noted that the move was a valuation call. Finally, raised their target price on T. Rowe Price Group from $137.00 to $145.00 and gave the company a “sell” rating in a research report on Monday, July 12th. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, T. Rowe Price Group has an average rating of “Hold” and an average target price of $183.62.

T. Rowe Price Group Company Profile

T. Rowe Price Group, Inc is a financial services holding company, which engages in the provision of investment management services through its subsidiaries. It provides an array of company sponsored U.S. mutual funds, other sponsored pooled investment vehicles, sub advisory services, separate account management, recordkeeping, and related services to individuals, advisors, institutions, financial intermediaries, and retirement plan sponsors.

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Institutional Ownership by Quarter for T. Rowe Price Group (NASDAQ:TROW)

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