Mission Wealth Management LP Increases Stock Position in T. Rowe Price Group Inc (NASDAQ:TROW)

Mission Wealth Management LP increased its position in T. Rowe Price Group Inc (NASDAQ:TROW) by 10.9% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,848 shares of the asset manager’s stock after acquiring an additional 182 shares during the period. Mission Wealth Management LP’s holdings in T. Rowe Price Group were worth $237,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Wealthfront Advisers LLC raised its holdings in T. Rowe Price Group by 146.5% in the 2nd quarter. Wealthfront Advisers LLC now owns 11,142 shares of the asset manager’s stock worth $1,376,000 after acquiring an additional 6,622 shares during the last quarter. O Shares Investment Advisers LLC grew its position in T. Rowe Price Group by 31.4% in the 2nd quarter. O Shares Investment Advisers LLC now owns 52,510 shares of the asset manager’s stock worth $6,485,000 after purchasing an additional 12,536 shares during the period. Balentine LLC bought a new stake in T. Rowe Price Group in the 1st quarter worth approximately $73,000. American International Group Inc. grew its position in T. Rowe Price Group by 2.0% in the 2nd quarter. American International Group Inc. now owns 148,159 shares of the asset manager’s stock worth $18,298,000 after purchasing an additional 2,948 shares during the period. Finally, AXA grew its position in T. Rowe Price Group by 101.1% in the 1st quarter. AXA now owns 267,009 shares of the asset manager’s stock worth $26,074,000 after purchasing an additional 134,242 shares during the period. Institutional investors own 68.06% of the company’s stock.

A number of equities research analysts have commented on TROW shares. ValuEngine downgraded shares of T. Rowe Price Group from a “hold” rating to a “sell” rating in a research report on Thursday, July 2nd. Credit Suisse Group lifted their target price on shares of T. Rowe Price Group from $135.00 to $147.00 in a research report on Thursday, July 30th. BMO Capital Markets lifted their target price on shares of T. Rowe Price Group from $109.00 to $128.00 and gave the stock a “market perform” rating in a research report on Monday, June 29th. Zacks Investment Research downgraded shares of T. Rowe Price Group from a “strong-buy” rating to a “hold” rating and set a $135.00 price objective for the company. in a research report on Tuesday, September 29th. Finally, Citigroup boosted their price objective on shares of T. Rowe Price Group from $135.00 to $148.00 and gave the company a “neutral” rating in a research report on Tuesday, August 4th. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $120.58.

In other T. Rowe Price Group news, VP Christopher D. Alderson sold 100,000 shares of the business’s stock in a transaction on Friday, July 31st. The shares were sold at an average price of $134.33, for a total value of $13,433,000.00. Following the sale, the vice president now owns 366,424 shares in the company, valued at approximately $49,221,735.92. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP David Oestreicher sold 5,000 shares of the business’s stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $139.20, for a total transaction of $696,000.00. Following the completion of the sale, the vice president now owns 94,295 shares in the company, valued at approximately $13,125,864. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 119,000 shares of company stock worth $16,048,400. 1.00% of the stock is owned by corporate insiders.

TROW opened at $147.03 on Friday. T. Rowe Price Group Inc has a fifty-two week low of $82.51 and a fifty-two week high of $148.70. The firm’s fifty day moving average is $132.31 and its 200 day moving average is $123.80. The stock has a market cap of $33.37 billion, a price-to-earnings ratio of 17.44, a price-to-earnings-growth ratio of 1.87 and a beta of 1.13.

T. Rowe Price Group (NASDAQ:TROW) last released its earnings results on Wednesday, July 29th. The asset manager reported $2.29 earnings per share for the quarter, beating analysts’ consensus estimates of $2.04 by $0.25. T. Rowe Price Group had a net margin of 35.05% and a return on equity of 29.65%. The company had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.41 billion. During the same quarter in the previous year, the company earned $2.03 EPS. T. Rowe Price Group’s revenue for the quarter was up 1.4% on a year-over-year basis. On average, equities research analysts anticipate that T. Rowe Price Group Inc will post 8.58 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th were paid a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.45%. The ex-dividend date of this dividend was Monday, September 14th. T. Rowe Price Group’s dividend payout ratio (DPR) is 44.61%.

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.

See Also: What are earnings reports?

Want to see what other hedge funds are holding TROW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for T. Rowe Price Group Inc (NASDAQ:TROW).

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

Receive News & Ratings for T. Rowe Price Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for T. Rowe Price Group and related companies with MarketBeat.com's FREE daily email newsletter.