SG Americas Securities LLC Has $2.31 Million Position in T. Rowe Price Group, Inc. (NASDAQ:TROW)

SG Americas Securities LLC lifted its holdings in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW – Free Report) by 109.7% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 20,661 shares of the asset manager’s stock after purchasing an additional 10,810 shares during the period. SG Americas Securities LLC’s holdings in T. Rowe Price Group were worth $2,314,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in TROW. Heritage Wealth Management LLC grew its holdings in shares of T. Rowe Price Group by 130.0% during the fourth quarter. Heritage Wealth Management LLC now owns 230 shares of the asset manager’s stock worth $25,000 after purchasing an additional 130 shares during the last quarter. Pacifica Partners Inc. grew its holdings in shares of T. Rowe Price Group by 400.0% during the first quarter. Pacifica Partners Inc. now owns 250 shares of the asset manager’s stock worth $27,000 after purchasing an additional 200 shares during the last quarter. Carmel Capital Partners LLC bought a new stake in shares of T. Rowe Price Group during the first quarter worth $35,000. Sunbelt Securities Inc. bought a new position in T. Rowe Price Group in the first quarter valued at about $42,000. Finally, ICA Group Wealth Management LLC bought a new position in T. Rowe Price Group in the fourth quarter valued at about $45,000. Institutional investors own 75.85% of the company’s stock.

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Insider Activity at T. Rowe Price Group

In related news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of T. Rowe Price Group stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $111.82, for a total value of $1,338,373.58. Following the sale, the vice president now owns 129,436 shares of the company’s stock, valued at approximately $14,473,533.52. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.10% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms recently issued reports on TROW. StockNews.com began coverage on T. Rowe Price Group in a report on Thursday, August 17th. They issued a “hold” rating on the stock. Morgan Stanley raised their price target on T. Rowe Price Group from $108.00 to $118.00 and gave the company an “equal weight” rating in a report on Monday, July 31st. Wells Fargo & Company raised their price target on T. Rowe Price Group from $117.00 to $123.00 and gave the company an “equal weight” rating in a report on Monday, July 31st. Citigroup raised their target price on T. Rowe Price Group from $98.00 to $100.00 and gave the stock a “sell” rating in a report on Friday, July 14th. Finally, UBS Group raised their target price on T. Rowe Price Group from $83.00 to $90.00 and gave the stock a “sell” rating in a report on Monday, July 31st. Six investment analysts have rated the stock with a sell rating and six have given a hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $96.73.

View Our Latest Stock Analysis on TROW

T. Rowe Price Group Price Performance

NASDAQ TROW opened at $108.68 on Thursday. The firm has a market cap of $24.38 billion, a P/E ratio of 16.20, a P/E/G ratio of 3.27 and a beta of 1.32. The stock’s 50-day moving average is $113.73 and its 200-day moving average is $111.15. T. Rowe Price Group, Inc. has a one year low of $93.53 and a one year high of $134.64.

T. Rowe Price Group (NASDAQ:TROW – Get Free Report) last released its quarterly earnings results on Friday, July 28th. The asset manager reported $2.02 EPS for the quarter, topping analysts’ consensus estimates of $1.73 by $0.29. The company had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.60 billion. T. Rowe Price Group had a return on equity of 18.30% and a net margin of 24.73%. T. Rowe Price Group’s revenue was up 6.4% compared to the same quarter last year. During the same quarter last year, the firm posted $1.79 earnings per share. Equities analysts anticipate that T. Rowe Price Group, Inc. will post 7.29 EPS for the current year.

T. Rowe Price Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 28th. Investors of record on Friday, September 15th will be given a $1.22 dividend. This represents a $4.88 dividend on an annualized basis and a yield of 4.49%. The ex-dividend date of this dividend is Thursday, September 14th. T. Rowe Price Group’s dividend payout ratio is presently 72.73%.

About T. Rowe Price Group

(Free Report)

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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