Prospera Financial Services Inc Raises Holdings in T. Rowe Price Group Inc (NASDAQ:TROW)

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Prospera Financial Services Inc grew its position in shares of T. Rowe Price Group Inc (NASDAQ:TROW) by 206.8% in the second quarter, HoldingsChannel reports. The firm owned 16,365 shares of the asset manager’s stock after buying an additional 11,031 shares during the quarter. Prospera Financial Services Inc’s holdings in T. Rowe Price Group were worth $2,021,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TROW. Tarbox Family Office Inc. raised its stake in shares of T. Rowe Price Group by 423.1% during the second quarter. Tarbox Family Office Inc. now owns 204 shares of the asset manager’s stock valued at $25,000 after acquiring an additional 165 shares in the last quarter. HHM Wealth Advisors LLC purchased a new stake in shares of T. Rowe Price Group during the first quarter valued at $28,000. Shine Investment Advisory Services Inc. grew its holdings in shares of T. Rowe Price Group by 248.4% during the first quarter. Shine Investment Advisory Services Inc. now owns 324 shares of the asset manager’s stock valued at $32,000 after buying an additional 231 shares during the last quarter. Harvest Fund Management Co. Ltd grew its holdings in shares of T. Rowe Price Group by 36.3% during the first quarter. Harvest Fund Management Co. Ltd now owns 398 shares of the asset manager’s stock valued at $38,000 after buying an additional 106 shares during the last quarter. Finally, Pearl River Capital LLC purchased a new stake in shares of T. Rowe Price Group during the first quarter valued at $39,000. Institutional investors own 70.63% of the company’s stock.

In other T. Rowe Price Group news, VP Christopher D. Alderson sold 100,000 shares of the stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $134.33, for a total value of $13,433,000.00. Following the completion of the sale, the vice president now owns 366,424 shares in the company, valued at approximately $49,221,735.92. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP David Oestreicher sold 5,000 shares of the stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $139.20, for a total transaction of $696,000.00. Following the completion of the sale, the vice president now owns 94,295 shares of the company’s stock, valued at approximately $13,125,864. The disclosure for this sale can be found here. In the last quarter, insiders sold 122,500 shares of company stock valued at $16,471,375. 1.00% of the stock is owned by insiders.

Shares of TROW traded down $0.62 during mid-day trading on Thursday, hitting $136.52. 10,875 shares of the company were exchanged, compared to its average volume of 1,041,923. The stock has a market cap of $31.15 billion, a price-to-earnings ratio of 16.20, a price-to-earnings-growth ratio of 2.06 and a beta of 1.18. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.24 and a current ratio of 3.24. T. Rowe Price Group Inc has a 1-year low of $82.51 and a 1-year high of $142.51. The company has a 50 day moving average of $132.85 and a 200-day moving average of $120.41.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings data on Wednesday, July 29th. The asset manager reported $2.29 EPS for the quarter, beating the Zacks’ consensus estimate of $2.04 by $0.25. The company had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.41 billion. T. Rowe Price Group had a net margin of 35.05% and a return on equity of 29.65%. T. Rowe Price Group’s quarterly revenue was up 1.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.03 EPS. Research analysts anticipate that T. Rowe Price Group Inc will post 8.5 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 15th will be issued a $0.90 dividend. The ex-dividend date is Monday, September 14th. This represents a $3.60 dividend on an annualized basis and a yield of 2.64%. T. Rowe Price Group’s payout ratio is 44.61%.

A number of equities research analysts have recently weighed in on TROW shares. Credit Suisse Group boosted their price objective on shares of T. Rowe Price Group from $135.00 to $147.00 in a report on Thursday, July 30th. BidaskClub downgraded shares of T. Rowe Price Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 15th. Morgan Stanley upped their price objective on shares of T. Rowe Price Group from $150.00 to $160.00 and gave the stock an “equal weight” rating in a research report on Friday, July 31st. Deutsche Bank upped their price target on shares of T. Rowe Price Group from $139.00 to $149.00 and gave the stock a “hold” rating in a research report on Thursday, July 30th. Finally, BMO Capital Markets upped their price target on shares of T. Rowe Price Group from $109.00 to $128.00 and gave the stock a “market perform” rating in a research report on Monday, June 29th. Four analysts have rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $119.17.

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.

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

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