Intercontinental Wealth Advisors LLC Grows Holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Intercontinental Wealth Advisors LLC boosted its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROWGet Rating) by 4.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,011 shares of the asset manager’s stock after purchasing an additional 94 shares during the quarter. Intercontinental Wealth Advisors LLC’s holdings in T. Rowe Price Group were worth $304,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its stake in T. Rowe Price Group by 13.3% in the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 148,673 shares of the asset manager’s stock valued at $22,478,000 after buying an additional 17,406 shares during the period. M&T Bank Corp increased its stake in T. Rowe Price Group by 0.8% in the 1st quarter. M&T Bank Corp now owns 192,811 shares of the asset manager’s stock valued at $29,152,000 after buying an additional 1,523 shares during the period. Banque Cantonale Vaudoise increased its stake in T. Rowe Price Group by 14.4% in the 1st quarter. Banque Cantonale Vaudoise now owns 18,320 shares of the asset manager’s stock valued at $2,770,000 after buying an additional 2,300 shares during the period. Capital Square LLC acquired a new position in T. Rowe Price Group in the 1st quarter valued at $310,000. Finally, Retirement Planning Co of New England Inc. grew its stake in shares of T. Rowe Price Group by 3,435.8% during the 1st quarter. Retirement Planning Co of New England Inc. now owns 1,874 shares of the asset manager’s stock worth $283,000 after purchasing an additional 1,821 shares during the period. Hedge funds and other institutional investors own 71.80% of the company’s stock.

T. Rowe Price Group Trading Down 0.1 %

Shares of T. Rowe Price Group stock opened at $125.04 on Friday. T. Rowe Price Group, Inc. has a twelve month low of $104.72 and a twelve month high of $224.55. The stock has a market capitalization of $28.22 billion, a P/E ratio of 12.07, a PEG ratio of 2.56 and a beta of 1.30. The business’s fifty day moving average price is $118.03 and its 200 day moving average price is $133.06.

T. Rowe Price Group (NASDAQ:TROWGet Rating) last issued its quarterly earnings data on Thursday, July 28th. The asset manager reported $1.79 EPS for the quarter, missing analysts’ consensus estimates of $2.64 by ($0.85). The company had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.68 billion. T. Rowe Price Group had a return on equity of 28.18% and a net margin of 33.26%. The company’s revenue for the quarter was down 20.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.31 EPS. As a group, sell-side analysts predict that T. Rowe Price Group, Inc. will post 8.27 EPS for the current year.

T. Rowe Price Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 29th. Stockholders of record on Thursday, September 15th will be given a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a dividend yield of 3.84%. The ex-dividend date of this dividend is Wednesday, September 14th. T. Rowe Price Group’s payout ratio is 46.33%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on TROW shares. Deutsche Bank Aktiengesellschaft lowered their price target on shares of T. Rowe Price Group from $126.00 to $118.00 and set a “hold” rating on the stock in a research note on Wednesday, July 13th. JPMorgan Chase & Co. lowered their price objective on shares of T. Rowe Price Group from $117.00 to $94.00 and set an “underweight” rating on the stock in a research note on Monday, July 18th. Jefferies Financial Group reissued a “hold” rating and issued a $156.00 price objective on shares of T. Rowe Price Group in a research note on Monday, April 11th. Morgan Stanley lowered their price objective on shares of T. Rowe Price Group from $124.00 to $123.00 and set an “equal weight” rating on the stock in a research note on Friday, July 29th. Finally, UBS Group lowered their price objective on shares of T. Rowe Price Group from $88.00 to $84.00 and set a “sell” rating on the stock in a research note on Friday, July 29th. Five equities research analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $130.30.

Insider Transactions at T. Rowe Price Group

In other news, insider Jessica M. Hiebler sold 959 shares of T. Rowe Price Group stock in a transaction dated Tuesday, August 2nd. The stock was sold at an average price of $124.57, for a total transaction of $119,462.63. Following the sale, the insider now directly owns 12,183 shares of the company’s stock, valued at $1,517,636.31. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, VP Andrew Justin Mackenzi Thomson sold 11,891 shares of the business’s stock in a transaction dated Thursday, August 4th. The stock was sold at an average price of $126.91, for a total value of $1,509,086.81. Following the completion of the sale, the vice president now directly owns 136,410 shares of the company’s stock, valued at $17,311,793.10. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Jessica M. Hiebler sold 959 shares of the business’s stock in a transaction dated Tuesday, August 2nd. The shares were sold at an average price of $124.57, for a total value of $119,462.63. Following the completion of the sale, the insider now directly owns 12,183 shares of the company’s stock, valued at $1,517,636.31. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company’s stock.

T. Rowe Price Group Profile

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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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