Integrated Wealth Concepts LLC Boosts Stake in T. Rowe Price Group, Inc. $TROW

Integrated Wealth Concepts LLC grew its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 62.0% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 18,855 shares of the asset manager’s stock after buying an additional 7,216 shares during the period. Integrated Wealth Concepts LLC’s holdings in T. Rowe Price Group were worth $2,144,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TROW. TD Private Client Wealth LLC increased its stake in T. Rowe Price Group by 91.8% in the fourth quarter. TD Private Client Wealth LLC now owns 257 shares of the asset manager’s stock valued at $26,000 after acquiring an additional 123 shares during the last quarter. Bank & Trust Co raised its position in T. Rowe Price Group by 52.4% during the second quarter. Bank & Trust Co now owns 314 shares of the asset manager’s stock valued at $36,000 after purchasing an additional 108 shares in the last quarter. Motiv8 Investments LLC bought a new stake in T. Rowe Price Group during the fourth quarter worth about $35,000. Keating Financial Advisory Services Inc. bought a new stake in T. Rowe Price Group during the second quarter worth about $39,000. Finally, Clearstead Trust LLC purchased a new position in shares of T. Rowe Price Group in the 2nd quarter worth about $41,000. 73.39% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at T. Rowe Price Group

In other news, VP Joshua Nelson sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $111.82, for a total value of $1,118,200.00. Following the transaction, the vice president owned 71,328 shares in the company, valued at approximately $7,975,896.96. This trade represents a 12.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.60% of the company’s stock.

T. Rowe Price Group Trading Down 0.5%

Shares of NASDAQ:TROW opened at $105.80 on Tuesday. The stock has a market capitalization of $22.57 billion, a P/E ratio of 10.61, a price-to-earnings-growth ratio of 3.52 and a beta of 1.46. The stock’s 50-day moving average price is $113.56 and its 200-day moving average price is $104.52. T. Rowe Price Group, Inc. has a 12-month low of $85.22 and a 12-month high of $122.00.

T. Rowe Price Group (NASDAQ:TROW) last released its earnings results on Friday, July 31st. The asset manager reported $2.57 earnings per share for the quarter, beating analysts’ consensus estimates of $2.52 by $0.05. The company had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.89 billion. T. Rowe Price Group had a return on equity of 20.91% and a net margin of 29.26%.T. Rowe Price Group’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.24 EPS. As a group, research analysts predict that T. Rowe Price Group, Inc. will post 10.16 EPS for the current year.

T. Rowe Price Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 15th will be paid a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.9%. The ex-dividend date of this dividend is Tuesday, September 15th. T. Rowe Price Group’s dividend payout ratio is 52.16%.

Analysts Set New Price Targets

TROW has been the topic of several recent research reports. Evercore set a $118.00 price objective on T. Rowe Price Group in a research report on Monday, August 10th. BMO Capital Markets boosted their target price on T. Rowe Price Group from $110.00 to $120.00 and gave the stock a “market perform” rating in a research report on Monday, August 3rd. Barclays cut their target price on T. Rowe Price Group from $108.00 to $103.00 and set an “underweight” rating for the company in a research note on Monday, August 3rd. The Goldman Sachs Group increased their price target on shares of T. Rowe Price Group from $90.00 to $92.00 and gave the company a “sell” rating in a research report on Tuesday, June 30th. Finally, UBS Group set a $110.00 price target on shares of T. Rowe Price Group in a research note on Monday, August 31st. One equities research analyst has rated the stock with a Buy rating, nine have assigned a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus target price of $106.15.

About T. Rowe Price Group

T. Rowe Price Group, Inc is a global investment management firm headquartered in Baltimore, Maryland. Founded in 1937 by Thomas Rowe Price Jr., the company provides investment management, advisory and related services to individual investors, retirement plans, institutions, financial intermediaries and other clients.

The company offers a broad range of investment products and strategies, including mutual funds, exchange-traded funds, separately managed accounts and institutional portfolios.