Mission Wealth Management LP Has $458,000 Stock Position in T. Rowe Price Group, Inc. $TROW

Mission Wealth Management LP decreased its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 33.0% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 4,744 shares of the asset manager’s stock after selling 2,338 shares during the quarter. Mission Wealth Management LP’s holdings in T. Rowe Price Group were worth $458,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. TFG Advisers LLC boosted its position in 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 during the period. Bill Few Associates Inc. boosted its position in T. Rowe Price Group by 4.3% during the 2nd quarter. Bill Few Associates Inc. now owns 2,577 shares of the asset manager’s stock worth $249,000 after acquiring an additional 107 shares during the period. Cooper Financial Group boosted its position in T. Rowe Price Group by 5.2% during the 1st quarter. Cooper Financial Group now owns 2,234 shares of the asset manager’s stock worth $205,000 after acquiring an additional 110 shares during the period. Hexagon Capital Partners LLC boosted its position in T. Rowe Price Group by 44.8% during the 1st quarter. Hexagon Capital Partners LLC now owns 365 shares of the asset manager’s stock worth $34,000 after acquiring an additional 113 shares during the period. Finally, Associated Banc Corp boosted its position in 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 worth $2,284,000 after acquiring an additional 114 shares during the period. Institutional investors and hedge funds own 73.39% of the company’s stock.

Insiders Place Their Bets

In related news, Director Robert F. Maclellan sold 3,090 shares of the business’s stock in a transaction that occurred 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 completion of 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 2.00% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on TROW. Citigroup raised their price objective on T. Rowe Price Group from $105.00 to $107.00 in a research report on Monday. Weiss Ratings restated a “hold (c)” rating on shares of T. Rowe Price Group in a research report on Wednesday, October 8th. Barclays set a $101.00 target price on T. Rowe Price Group in a research note on Monday. The Goldman Sachs Group boosted their target price on T. Rowe Price Group from $93.00 to $98.00 in a research note on Monday. Finally, BMO Capital Markets initiated coverage on T. Rowe Price Group in a report on Friday, October 3rd. They set a “market perform” rating and a $108.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Reduce” and an average target price of $109.31.

T. Rowe Price Group Stock Performance

TROW opened at $101.27 on Wednesday. The business has a 50 day moving average price of $104.81 and a 200 day moving average price of $100.53. T. Rowe Price Group, Inc. has a twelve month low of $77.85 and a twelve month high of $125.81. The firm has a market cap of $22.25 billion, a P/E ratio of 11.32, a price-to-earnings-growth ratio of 5.61 and a beta of 1.50.

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

T. Rowe Price Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 30th. Investors of record on Monday, December 15th will be issued a $1.27 dividend. This represents a $5.08 annualized dividend and a yield of 5.0%. The ex-dividend date is Monday, December 15th. T. Rowe Price Group’s payout ratio is 55.34%.

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.