Nicholson Wealth Management Group LLC Makes New $635,000 Investment in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Nicholson Wealth Management Group LLC bought a new stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 5,826 shares of the asset manager’s stock, valued at approximately $635,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Wealthcare Advisory Partners LLC purchased a new stake in T. Rowe Price Group in the 1st quarter valued at about $588,000. Wealth Enhancement Advisory Services LLC increased its position in shares of T. Rowe Price Group by 2.0% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 130,590 shares of the asset manager’s stock valued at $15,921,000 after acquiring an additional 2,623 shares during the last quarter. Occidental Asset Management LLC lifted its holdings in T. Rowe Price Group by 16.1% during the first quarter. Occidental Asset Management LLC now owns 24,745 shares of the asset manager’s stock worth $3,017,000 after acquiring an additional 3,438 shares during the period. MCF Advisors LLC lifted its holdings in T. Rowe Price Group by 1.6% during the first quarter. MCF Advisors LLC now owns 5,953 shares of the asset manager’s stock worth $726,000 after acquiring an additional 92 shares during the period. Finally, Hennion & Walsh Asset Management Inc. boosted its position in T. Rowe Price Group by 34.5% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 10,436 shares of the asset manager’s stock worth $1,272,000 after purchasing an additional 2,679 shares during the last quarter. Hedge funds and other institutional investors own 73.39% of the company’s stock.

Insider Activity

In related news, insider Jessica M. Hiebler sold 484 shares of the stock in a transaction on Friday, September 13th. The stock was sold at an average price of $104.73, for a total value of $50,689.32. Following the sale, the insider now owns 13,939 shares in the company, valued at approximately $1,459,831.47. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the stock in a transaction on Friday, September 6th. The shares were sold at an average price of $102.83, for a total value of $1,230,772.27. Following the transaction, the vice president now owns 123,624 shares of the company’s stock, valued at $12,712,255.92. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jessica M. Hiebler sold 484 shares of T. Rowe Price Group stock in a transaction on Friday, September 13th. The stock was sold at an average price of $104.73, for a total transaction of $50,689.32. Following the sale, the insider now directly owns 13,939 shares of the company’s stock, valued at $1,459,831.47. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.

T. Rowe Price Group Stock Performance

NASDAQ:TROW opened at $112.01 on Friday. The business’s fifty day moving average is $107.95 and its 200 day moving average is $111.90. The firm has a market cap of $25.01 billion, a price-to-earnings ratio of 13.30, a PEG ratio of 1.86 and a beta of 1.41. T. Rowe Price Group, Inc. has a 52-week low of $87.43 and a 52-week high of $122.27.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings results on Friday, July 26th. The asset manager reported $2.26 earnings per share for the quarter, missing the consensus estimate of $2.27 by ($0.01). The company had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.79 billion. T. Rowe Price Group had a net margin of 28.66% and a return on equity of 19.90%. The company’s quarterly revenue was up 7.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.02 earnings per share. Equities analysts predict that T. Rowe Price Group, Inc. will post 9.09 EPS for the current fiscal year.

T. Rowe Price Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were issued a $1.24 dividend. This represents a $4.96 annualized dividend and a yield of 4.43%. The ex-dividend date was Friday, September 13th. T. Rowe Price Group’s payout ratio is 58.91%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on TROW shares. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $120.00 target price (down from $121.00) on shares of T. Rowe Price Group in a research report on Monday, July 29th. The Goldman Sachs Group reduced their target price on shares of T. Rowe Price Group from $106.00 to $102.00 and set a “sell” rating for the company in a research report on Thursday, October 3rd. StockNews.com cut shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Monday, July 29th. Deutsche Bank Aktiengesellschaft raised their target price on T. Rowe Price Group from $112.00 to $113.00 and gave the stock a “hold” rating in a research report on Thursday, August 15th. Finally, Evercore ISI upped their price target on T. Rowe Price Group from $108.00 to $109.00 and gave the company an “in-line” rating in a research report on Friday, October 4th. Four research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $113.00.

T. Rowe Price Group Company 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.