Northwestern Mutual Wealth Management Co. Has $2.76 Million Stake in T. Rowe Price Group, Inc. (NASDAQ:TROW)

Northwestern Mutual Wealth Management Co. lifted its position in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 0.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,910 shares of the asset manager’s stock after buying an additional 118 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in T. Rowe Price Group were worth $2,757,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Massmutual Trust Co. FSB ADV grew its stake in shares of T. Rowe Price Group by 7.5% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 1,236 shares of the asset manager’s stock worth $151,000 after acquiring an additional 86 shares in the last quarter. ST Germain D J Co. Inc. increased its stake in T. Rowe Price Group by 0.3% in the 1st quarter. ST Germain D J Co. Inc. now owns 31,065 shares of the asset manager’s stock valued at $3,787,000 after buying an additional 88 shares during the last quarter. MCF Advisors LLC boosted its stake in shares of T. Rowe Price Group by 1.6% during the 1st quarter. MCF Advisors LLC now owns 5,953 shares of the asset manager’s stock worth $726,000 after buying an additional 92 shares during the last quarter. Paulson Wealth Management Inc. boosted its stake in shares of T. Rowe Price Group by 4.9% during the 1st quarter. Paulson Wealth Management Inc. now owns 2,028 shares of the asset manager’s stock worth $247,000 after buying an additional 95 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of T. Rowe Price Group by 29.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 430 shares of the asset manager’s stock valued at $49,000 after acquiring an additional 99 shares in the last quarter. 73.39% of the stock is currently owned by institutional investors.

T. Rowe Price Group Stock Performance

Shares of TROW opened at $106.48 on Friday. The firm has a market cap of $23.78 billion, a P/E ratio of 12.65, a price-to-earnings-growth ratio of 1.75 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. The firm’s 50-day simple moving average is $107.24 and its 200 day simple moving average is $112.77.

T. Rowe Price Group (NASDAQ:TROW) last posted its earnings results on Friday, July 26th. The asset manager reported $2.26 EPS for the quarter, missing the consensus estimate of $2.27 by ($0.01). The firm had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.79 billion. T. Rowe Price Group had a net margin of 28.66% and a return on equity of 19.90%. T. Rowe Price Group’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same period in the previous year, the company posted $2.02 EPS. As a group, equities analysts forecast that T. Rowe Price Group, Inc. will post 8.96 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were issued a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a dividend yield of 4.66%. The ex-dividend date was Friday, September 13th. T. Rowe Price Group’s dividend payout ratio is currently 58.91%.

Insider Activity

In related news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the firm’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $102.83, for a total transaction of $1,230,772.27. Following the transaction, the vice president now directly owns 123,624 shares of the company’s stock, valued at $12,712,255.92. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other 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 transaction of $50,689.32. Following the sale, the insider now directly owns 13,939 shares of the company’s stock, valued at approximately $1,459,831.47. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the business’s stock in a transaction dated 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 completion of the transaction, the vice president now directly owns 123,624 shares of the company’s stock, valued at approximately $12,712,255.92. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts recently commented on TROW shares. Wells Fargo & Company assumed coverage on T. Rowe Price Group in a research report on Thursday, September 12th. They set an “equal weight” rating and a $109.00 price target for the company. Deutsche Bank Aktiengesellschaft increased their price objective on T. Rowe Price Group from $112.00 to $113.00 and gave the company a “hold” rating in a report on Thursday, August 15th. TD Cowen lowered their target price on shares of T. Rowe Price Group from $123.00 to $118.00 and set a “hold” rating on the stock in a report on Monday, July 29th. JPMorgan Chase & Co. increased their price target on shares of T. Rowe Price Group from $102.00 to $107.00 and gave the company an “underweight” rating in a research note on Tuesday, July 23rd. Finally, The Goldman Sachs Group dropped their target price on shares of T. Rowe Price Group from $106.00 to $102.00 and set a “sell” rating on the stock in a report on Thursday. Four analysts have rated the stock with a sell rating and eight have given a hold rating to the company’s stock. According to MarketBeat.com, T. Rowe Price Group presently has a consensus rating of “Hold” and an average price target of $112.27.

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.