Bogart Wealth LLC Grows Stock Position in T. Rowe Price Group, Inc. $TROW

Bogart Wealth LLC grew its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 1,787.5% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 453 shares of the asset manager’s stock after buying an additional 429 shares during the quarter. Bogart Wealth LLC’s holdings in T. Rowe Price Group were worth $44,000 as of its most recent filing with the SEC.

A number of other large investors have also recently made changes to their positions in TROW. Invesco Ltd. lifted its stake in T. Rowe Price Group by 43.2% in the first quarter. Invesco Ltd. now owns 3,433,684 shares of the asset manager’s stock worth $315,453,000 after acquiring an additional 1,035,865 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of T. Rowe Price Group by 7.2% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 7,706,251 shares of the asset manager’s stock worth $707,973,000 after purchasing an additional 519,075 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of T. Rowe Price Group during the second quarter worth $37,722,000. Vanguard Group Inc. increased its holdings in shares of T. Rowe Price Group by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 26,286,393 shares of the asset manager’s stock valued at $2,414,931,000 after acquiring an additional 222,556 shares during the period. Finally, Vest Financial LLC raised its position in T. Rowe Price Group by 31.1% in the 2nd quarter. Vest Financial LLC now owns 616,351 shares of the asset manager’s stock valued at $59,478,000 after purchasing an additional 146,382 shares during the last quarter. 73.39% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

TROW has been the topic of several research reports. BMO Capital Markets initiated coverage on shares of T. Rowe Price Group in a research report on Friday, October 3rd. They set a “market perform” rating and a $108.00 price objective on the stock. Zacks Research raised T. Rowe Price Group from a “hold” rating to a “strong-buy” rating in a report on Friday, October 10th. TD Cowen upped their price objective on T. Rowe Price Group from $103.00 to $108.00 and gave the company a “hold” rating in a research note on Wednesday, October 8th. JPMorgan Chase & Co. increased their price objective on T. Rowe Price Group from $102.00 to $109.00 and gave the stock an “underweight” rating in a research report on Wednesday, October 15th. Finally, Morgan Stanley lifted their target price on T. Rowe Price Group from $116.00 to $125.00 and gave the company a “positive” rating in a research note on Monday, October 6th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, ten have assigned a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat.com, T. Rowe Price Group currently has an average rating of “Reduce” and a consensus target price of $107.54.

Insider Activity at T. Rowe Price Group

In other T. Rowe Price Group news, Director Robert F. Maclellan sold 3,090 shares of the business’s 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 in the company, valued at approximately $4,970,648.35. The trade was a 6.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.60% of the company’s stock.

T. Rowe Price Group Stock Up 0.0%

Shares of NASDAQ:TROW opened at $104.25 on Wednesday. T. Rowe Price Group, Inc. has a 52 week low of $77.85 and a 52 week high of $125.81. The company has a 50-day moving average price of $105.69 and a 200 day moving average price of $99.15. The company has a market cap of $22.90 billion, a P/E ratio of 11.65, a PEG ratio of 5.72 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 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.15 by $0.09. The business had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.72 billion. T. Rowe Price Group had a return on equity of 19.77% and a net margin of 28.72%.The company’s revenue for the quarter was down .6% on a year-over-year basis. During the same period in the prior year, the business posted $2.26 EPS. Analysts expect that T. Rowe Price Group, Inc. will post 9.29 EPS 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 issued a $1.27 dividend. The ex-dividend date of this dividend was Monday, September 15th. This represents a $5.08 dividend on an annualized basis and a yield of 4.9%. T. Rowe Price Group’s dividend payout ratio (DPR) is 56.76%.

About T. Rowe Price Group

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.