9,025 Shares in T. Rowe Price Group, Inc. $TROW Acquired by Principle Wealth Partners LLC

Principle Wealth Partners LLC bought a new stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 9,025 shares of the asset manager’s stock, valued at approximately $1,026,000.

Other hedge funds have also bought and sold shares of the company. Wealthcare Capital Partners LLC increased its holdings in shares of T. Rowe Price Group by 1.0% in the 2nd quarter. Wealthcare Capital Partners LLC now owns 9,565 shares of the asset manager’s stock worth $1,087,000 after buying an additional 93 shares during the last quarter. Kesler Norman & Wride LLC raised its position in shares of T. Rowe Price Group by 0.6% during the 2nd quarter. Kesler Norman & Wride LLC now owns 15,914 shares of the asset manager’s stock valued at $1,809,000 after buying an additional 96 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of T. Rowe Price Group by 9.4% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,150 shares of the asset manager’s stock worth $131,000 after acquiring an additional 99 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its holdings in shares of T. Rowe Price Group by 0.4% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 25,062 shares of the asset manager’s stock worth $2,259,000 after acquiring an additional 100 shares during the last quarter. Finally, Concorde Asset Management LLC grew its position in T. Rowe Price Group by 3.9% in the first quarter. Concorde Asset Management LLC now owns 2,730 shares of the asset manager’s stock worth $246,000 after acquiring an additional 102 shares in the last quarter. 73.39% of the stock is currently owned by institutional investors.

T. Rowe Price Group Stock Down 0.1%

T. Rowe Price Group stock opened at $110.46 on Tuesday. The company has a market capitalization of $23.56 billion, a PE ratio of 11.08, a P/E/G ratio of 4.30 and a beta of 1.47. The firm has a fifty day simple moving average of $113.62 and a two-hundred day simple moving average of $102.67. T. Rowe Price Group, Inc. has a twelve month low of $85.22 and a twelve month high of $122.00.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings results on Friday, July 31st. The asset manager reported $2.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.52 by $0.05. The business had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.89 billion. T. Rowe Price Group had a net margin of 29.26% and a return on equity of 20.91%. The company’s revenue was up 10.7% on a year-over-year basis. During the same period in the prior year, the business posted $2.24 earnings per share. As a group, equities analysts expect that T. Rowe Price Group, Inc. will post 10.13 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th will be issued a dividend of $1.30 per share. The ex-dividend date is Tuesday, September 15th. This represents a $5.20 annualized dividend and a yield of 4.7%. T. Rowe Price Group’s dividend payout ratio is currently 52.16%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. BMO Capital Markets increased their target price on T. Rowe Price Group from $110.00 to $120.00 and gave the company a “market perform” rating in a research note on Monday, August 3rd. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $115.00 price objective (down from $120.00) on shares of T. Rowe Price Group in a report on Monday, August 3rd. Evercore set a $118.00 price objective on T. Rowe Price Group in a research report on Monday, August 10th. Weiss Ratings raised T. Rowe Price Group from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, July 2nd. Finally, JPMorgan Chase & Co. dropped their target price on T. Rowe Price Group from $106.00 to $103.00 and set an “underweight” rating for the company in a research report on Friday, April 24th. Ten analysts have rated the stock with a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat, T. Rowe Price Group currently has an average rating of “Reduce” and a consensus price target of $105.67.

T. Rowe Price Group Company Profile

T. Rowe Price Group, Inc is a global investment management firm headquartered in Baltimore, Maryland, founded by Thomas Rowe Price Jr. in 1937. The company provides a broad range of investment products and services for individual investors, financial intermediaries, retirement plan sponsors and institutional clients. Its offerings are built around active investment management and in-house research across equity, fixed income and multi-asset strategies, reflecting a long history as a research-driven asset manager.

The firm’s product lineup includes mutual funds, separate accounts, collective investment trusts, target-date and target-risk funds, and managed account solutions, as well as services for defined contribution and defined benefit retirement plans.