Lifeworks Advisors LLC Invests $230,000 in T. Rowe Price Group, Inc. $TROW

Lifeworks Advisors LLC purchased a new position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 2,383 shares of the asset manager’s stock, valued at approximately $230,000.

Several other institutional investors have also modified their holdings of the company. TFG Advisers LLC boosted its stake in shares of T. Rowe Price Group by 3.6% during the 2nd quarter. TFG Advisers LLC now owns 2,779 shares of the asset manager’s stock worth $268,000 after acquiring an additional 97 shares in the last quarter. Bill Few Associates Inc. lifted its stake in T. Rowe Price Group by 4.3% in the 2nd quarter. Bill Few Associates Inc. now owns 2,577 shares of the asset manager’s stock valued at $249,000 after buying an additional 107 shares in the last quarter. Cooper Financial Group lifted its stake in 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 buying an additional 110 shares in the last quarter. Hexagon Capital Partners LLC lifted its stake in 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 buying an additional 113 shares in the last quarter. Finally, Associated Banc Corp lifted its stake in T. Rowe Price Group by 0.5% in 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 in the last quarter. Hedge funds and other institutional investors own 73.39% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Keefe, Bruyette & Woods upped their target price on T. Rowe Price Group from $112.00 to $115.00 and gave the company a “hold” rating in a research note on Monday, October 13th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of T. Rowe Price Group in a research note on Wednesday, October 8th. JPMorgan Chase & Co. upped their target price on T. Rowe Price Group from $102.00 to $109.00 and gave the company an “underweight” rating in a research note on Wednesday, October 15th. BMO Capital Markets assumed coverage on T. Rowe Price Group in a research note on Friday, October 3rd. They issued a “market perform” rating and a $108.00 target price on the stock. Finally, Bank of America upped their target price on T. Rowe Price Group from $91.00 to $97.00 and gave the company an “underperform” rating in a research note on Thursday, October 2nd. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Reduce” and an average price target of $107.62.

T. Rowe Price Group Stock Performance

Shares of TROW opened at $102.53 on Monday. The stock has a fifty day moving average of $105.08 and a two-hundred day moving average of $100.32. The company has a market capitalization of $22.53 billion, a PE ratio of 11.46, a price-to-earnings-growth ratio of 5.61 and a beta of 1.50. T. Rowe Price Group, Inc. has a fifty-two week low of $77.85 and a fifty-two week high of $125.81.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings results on Friday, October 31st. The asset manager reported $2.81 earnings per share for the quarter, beating the consensus estimate of $2.55 by $0.26. The company had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.88 billion. T. Rowe Price Group had a return on equity of 19.77% and a net margin of 28.72%.T. Rowe Price Group’s revenue was up 6.0% on a year-over-year basis. During the same period in the previous year, the firm posted $2.57 EPS. As a group, equities research analysts forecast that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 30th. Investors of record on Monday, December 15th will be given a $1.27 dividend. This represents a $5.08 annualized dividend and a dividend yield of 5.0%. The ex-dividend date of this dividend is Monday, December 15th. T. Rowe Price Group’s dividend payout ratio (DPR) is 56.76%.

Insider Buying and Selling at T. Rowe Price Group

In related news, Director Robert F. Maclellan sold 3,090 shares of T. Rowe Price Group stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $105.01, for a total value of $324,480.90. Following the transaction, the director owned 47,335 shares in the company, valued at approximately $4,970,648.35. This trade represents a 6.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.00% of the company’s stock.

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.