Stratos Wealth Partners LTD. Has $814,000 Holdings in T. Rowe Price Group Inc (TROW)

Stratos Wealth Partners LTD. raised its position in shares of T. Rowe Price Group Inc (NASDAQ:TROW) by 41.3% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,459 shares of the asset manager’s stock after buying an additional 2,179 shares during the period. Stratos Wealth Partners LTD.’s holdings in T. Rowe Price Group were worth $814,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in TROW. Focused Wealth Management Inc bought a new position in T. Rowe Price Group in the 2nd quarter worth $139,000. Townsend & Associates Inc bought a new position in T. Rowe Price Group in the 3rd quarter worth $135,000. Signature Estate & Investment Advisors LLC bought a new position in T. Rowe Price Group in the 2nd quarter worth $151,000. Parallel Advisors LLC raised its holdings in T. Rowe Price Group by 169.1% in the 2nd quarter. Parallel Advisors LLC now owns 1,448 shares of the asset manager’s stock worth $168,000 after purchasing an additional 910 shares in the last quarter. Finally, Transamerica Financial Advisors Inc. bought a new position in T. Rowe Price Group in the 2nd quarter worth $190,000. 70.99% of the stock is owned by institutional investors and hedge funds.

Shares of T. Rowe Price Group stock opened at $98.48 on Friday. The stock has a market capitalization of $24.43 billion, a P/E ratio of 14.26, a price-to-earnings-growth ratio of 1.16 and a beta of 1.21. T. Rowe Price Group Inc has a 1 year low of $92.01 and a 1 year high of $127.43.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings results on Thursday, October 25th. The asset manager reported $2.30 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.93 by $0.37. The company had revenue of $1.39 billion during the quarter, compared to analyst estimates of $1.38 billion. T. Rowe Price Group had a net margin of 33.98% and a return on equity of 29.52%. During the same period last year, the business earned $1.56 EPS. On average, analysts anticipate that T. Rowe Price Group Inc will post 7.37 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 28th. Investors of record on Friday, December 14th will be paid a $0.70 dividend. The ex-dividend date of this dividend is Thursday, December 13th. This represents a $2.80 annualized dividend and a dividend yield of 2.84%. T. Rowe Price Group’s payout ratio is 51.57%.

Several research analysts have commented on the stock. Zacks Investment Research lowered shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Monday, October 29th. Citigroup decreased their price objective on shares of T. Rowe Price Group from $113.00 to $105.00 and set a “hold” rating for the company in a report on Monday, October 29th. Credit Suisse Group decreased their price objective on shares of T. Rowe Price Group from $161.00 to $123.00 and set an “outperform” rating for the company in a report on Friday, October 26th. Wells Fargo & Co decreased their price objective on shares of T. Rowe Price Group from $115.00 to $106.00 and set a “market perform” rating for the company in a report on Friday, October 26th. Finally, Barclays decreased their price target on shares of T. Rowe Price Group from $114.00 to $95.00 and set an “underweight” rating for the company in a research note on Friday, October 26th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $114.11.

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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.

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Institutional Ownership by Quarter for T. Rowe Price Group (NASDAQ:TROW)

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