Chicago Partners Investment Group LLC Increases Stock Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Chicago Partners Investment Group LLC raised its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 7.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,310 shares of the asset manager’s stock after purchasing an additional 161 shares during the quarter. Chicago Partners Investment Group LLC’s holdings in T. Rowe Price Group were worth $211,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of TROW. Charles Schwab Investment Management Inc. lifted its holdings in shares of T. Rowe Price Group by 7.2% in the first quarter. Charles Schwab Investment Management Inc. now owns 7,706,251 shares of the asset manager’s stock valued at $707,973,000 after purchasing an additional 519,075 shares in the last quarter. ASR Vermogensbeheer N.V. purchased a new stake in shares of T. Rowe Price Group in the first quarter valued at about $2,649,000. Citizens Financial Group Inc. RI lifted its holdings in shares of T. Rowe Price Group by 8.6% in the first quarter. Citizens Financial Group Inc. RI now owns 2,245 shares of the asset manager’s stock valued at $206,000 after purchasing an additional 178 shares in the last quarter. Provident Investment Management Inc. lifted its holdings in shares of T. Rowe Price Group by 4.4% in the first quarter. Provident Investment Management Inc. now owns 7,167 shares of the asset manager’s stock valued at $658,000 after purchasing an additional 305 shares in the last quarter. Finally, Strategy Asset Managers LLC lifted its stake in shares of T. Rowe Price Group by 39.6% during the first quarter. Strategy Asset Managers LLC now owns 3,178 shares of the asset manager’s stock valued at $292,000 after buying an additional 901 shares during the period. 73.39% of the stock is currently owned by institutional investors and hedge funds.

T. Rowe Price Group Trading Up 2.3%

TROW opened at $107.64 on Wednesday. The firm has a market cap of $23.65 billion, a price-to-earnings ratio of 12.03, a PEG ratio of 2.87 and a beta of 1.47. T. Rowe Price Group, Inc. has a twelve month low of $77.85 and a twelve month high of $125.81. The company has a fifty day simple moving average of $100.04 and a 200 day simple moving average of $97.93.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings data on Friday, August 1st. The asset manager reported $2.24 earnings per share for the quarter, topping the consensus estimate of $2.15 by $0.09. The company had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.72 billion. T. Rowe Price Group had a net margin of 28.72% and a return on equity of 19.77%. The firm’s revenue for the quarter was down .6% compared to the same quarter last year. During the same period last year, the business earned $2.26 EPS. On average, analysts forecast that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Monday, September 15th will be given a $1.27 dividend. This represents a $5.08 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date is Monday, September 15th. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 56.76%.

Insider Activity

In other news, VP Dorothy C. Sawyer sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $95.43, for a total value of $190,860.00. Following the transaction, the vice president directly owned 44,789 shares in the company, valued at approximately $4,274,214.27. This trade represents a 4.27% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 1.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Cowen reissued a “hold” rating on shares of T. Rowe Price Group in a research note on Monday, May 5th. Morgan Stanley upped their price target on shares of T. Rowe Price Group from $112.00 to $116.00 and gave the stock an “equal weight” rating in a research report on Monday, August 4th. Wells Fargo & Company upped their price target on shares of T. Rowe Price Group from $98.00 to $108.00 and gave the stock an “equal weight” rating in a research report on Friday, July 11th. Barclays reaffirmed an “underweight” rating and set a $95.00 price target (up previously from $91.00) on shares of T. Rowe Price Group in a research report on Monday, August 4th. Finally, Evercore ISI upped their price target on shares of T. Rowe Price Group from $106.00 to $110.00 and gave the stock an “in-line” rating in a research report on Monday, August 4th. Four analysts have rated the stock with a sell rating and nine have assigned a hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $101.09.

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.