14,322 Shares in T. Rowe Price Group, Inc. $TROW Bought by United Capital Financial Advisors LLC

United Capital Financial Advisors LLC purchased a new stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 14,322 shares of the asset manager’s stock, valued at approximately $1,628,000.

Other large investors also recently modified their holdings of the company. BlackRock Inc. bought a new stake in T. Rowe Price Group during the second quarter worth about $2,728,119,000. State Street Corp raised its stake in shares of T. Rowe Price Group by 0.3% during the 4th quarter. State Street Corp now owns 14,159,797 shares of the asset manager’s stock worth $1,449,680,000 after purchasing an additional 45,530 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of T. Rowe Price Group by 332.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 8,770,071 shares of the asset manager’s stock valued at $897,880,000 after buying an additional 6,740,172 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in T. Rowe Price Group by 1.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 8,073,846 shares of the asset manager’s stock worth $826,600,000 after buying an additional 143,109 shares during the last quarter. Finally, First Trust Advisors LP raised its position in T. Rowe Price Group by 12.6% during the first quarter. First Trust Advisors LP now owns 3,694,171 shares of the asset manager’s stock worth $332,993,000 after acquiring an additional 413,317 shares in the last quarter. 73.39% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on TROW. Barclays lowered their price objective on shares of T. Rowe Price Group from $108.00 to $103.00 and set an “underweight” rating on the stock in a research note on Monday, August 3rd. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $109.00 price objective on shares of T. Rowe Price Group in a research note on Monday, August 3rd. The Goldman Sachs Group boosted their target price on T. Rowe Price Group from $90.00 to $92.00 and gave the stock a “sell” rating in a report on Tuesday, June 30th. Zacks Research cut shares of T. Rowe Price Group from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 13th. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $115.00 price objective (down from $120.00) on shares of T. Rowe Price Group in a research report on Monday, August 3rd. Ten investment analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Reduce” and an average price target of $105.67.

Insider Transactions at T. Rowe Price Group

In related news, VP Joshua B. Nelson sold 10,000 shares of T. Rowe Price Group stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $111.82, for a total transaction of $1,118,200.00. Following the completion of the transaction, the vice president owned 71,328 shares of the company’s stock, valued at $7,975,896.96. This trade represents a 12.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.60% of the company’s stock.

T. Rowe Price Group Trading Down 1.0%

Shares of TROW stock opened at $111.24 on Friday. The stock has a 50 day simple moving average of $114.35 and a 200 day simple moving average of $103.34. The stock has a market cap of $23.73 billion, a P/E ratio of 11.16, a price-to-earnings-growth ratio of 3.68 and a beta of 1.47. T. Rowe Price Group, Inc. has a 1 year low of $85.22 and a 1 year 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, topping the consensus estimate of $2.52 by $0.05. T. Rowe Price Group had a return on equity of 20.91% and a net margin of 29.26%.The firm had revenue of $1.91 billion during the quarter, compared to analysts’ expectations of $1.89 billion. During the same period in the prior year, the company earned $2.24 earnings per share. The company’s quarterly revenue was up 10.7% on a year-over-year basis. Analysts forecast that T. Rowe Price Group, Inc. will post 10.15 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 given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date is Tuesday, September 15th. T. Rowe Price Group’s dividend payout ratio (DPR) is 52.16%.

About T. Rowe Price Group

T. Rowe Price Group, Inc is a global investment management firm headquartered in Baltimore, Maryland, founded by Thomas Rowe Price Jr. in 1937. The company provides a broad range of investment products and services for individual investors, financial intermediaries, retirement plan sponsors and institutional clients. Its offerings are built around active investment management and in-house research across equity, fixed income and multi-asset strategies, reflecting a long history as a research-driven asset manager.

The firm’s product lineup includes mutual funds, separate accounts, collective investment trusts, target-date and target-risk funds, and managed account solutions, as well as services for defined contribution and defined benefit retirement plans.