T. Rowe Price Group, Inc. $TROW Shares Purchased by Confluence Wealth Services Inc.

Confluence Wealth Services Inc. raised its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 3.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,265 shares of the asset manager’s stock after buying an additional 410 shares during the quarter. Confluence Wealth Services Inc.’s holdings in T. Rowe Price Group were worth $1,183,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. TFG Advisers LLC grew its holdings in T. Rowe Price Group by 3.6% in the second quarter. TFG Advisers LLC now owns 2,779 shares of the asset manager’s stock valued at $268,000 after purchasing an additional 97 shares during the period. Cooper Financial Group boosted its holdings in shares of T. Rowe Price Group by 5.2% in the 1st quarter. Cooper Financial Group now owns 2,234 shares of the asset manager’s stock valued at $205,000 after purchasing an additional 110 shares during the last quarter. Hexagon Capital Partners LLC boosted its holdings in shares of T. Rowe Price Group by 44.8% in the 1st quarter. Hexagon Capital Partners LLC now owns 365 shares of the asset manager’s stock valued at $34,000 after purchasing an additional 113 shares during the last quarter. Associated Banc Corp grew its stake in shares of T. Rowe Price Group by 0.5% during the 1st quarter. Associated Banc Corp now owns 24,864 shares of the asset manager’s stock valued at $2,284,000 after buying an additional 114 shares during the period. Finally, Dakota Wealth Management increased its holdings in shares of T. Rowe Price Group by 4.7% during the 2nd quarter. Dakota Wealth Management now owns 2,537 shares of the asset manager’s stock worth $245,000 after buying an additional 114 shares during the last quarter. Institutional investors and hedge funds own 73.39% of the company’s stock.

Analysts Set New Price Targets

TROW has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods lifted their target price on T. Rowe Price Group from $110.00 to $112.00 and gave the company a “market perform” rating in a report on Monday, August 4th. Wells Fargo & Company raised their price objective on T. Rowe Price Group from $98.00 to $108.00 and gave the stock an “equal weight” rating in a report on Friday, July 11th. Evercore ISI reiterated a “positive” rating on shares of T. Rowe Price Group in a report on Friday, September 5th. The Goldman Sachs Group increased their target price on shares of T. Rowe Price Group from $91.00 to $92.00 and gave the stock a “sell” rating in a research report on Friday. Finally, Bank of America raised their price target on shares of T. Rowe Price Group from $91.00 to $97.00 and gave the company an “underperform” rating in a report on Thursday. One research analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Reduce” and an average price target of $104.08.

Insiders Place Their Bets

In other T. Rowe Price Group news, Director Robert F. Maclellan sold 3,090 shares of the stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $105.01, for a total transaction of $324,480.90. Following the sale, the director directly owned 47,335 shares of the company’s stock, valued at approximately $4,970,648.35. This represents a 6.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.60% of the stock is currently owned by insiders.

T. Rowe Price Group Stock Up 1.5%

Shares of T. Rowe Price Group stock opened at $103.28 on Monday. The business has a 50-day moving average price of $105.71 and a 200 day moving average price of $98.13. T. Rowe Price Group, Inc. has a fifty-two week low of $77.85 and a fifty-two week high of $125.81. The firm has a market cap of $22.69 billion, a P/E ratio of 11.54, a P/E/G ratio of 6.68 and a beta of 1.50.

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

T. Rowe Price Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Monday, September 15th were paid a dividend of $1.27 per share. The ex-dividend date was Monday, September 15th. This represents a $5.08 annualized dividend and a yield of 4.9%. T. Rowe Price Group’s payout ratio is presently 56.76%.

T. Rowe Price Group 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.