Northwestern Mutual Wealth Management Co. Acquires 1,523 Shares of T. Rowe Price Group Inc (TROW)

Northwestern Mutual Wealth Management Co. boosted its holdings in T. Rowe Price Group Inc (NASDAQ:TROW) by 10.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,858 shares of the asset manager’s stock after buying an additional 1,523 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in T. Rowe Price Group were worth $1,731,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Townsend & Associates Inc purchased a new position in shares of T. Rowe Price Group during the 3rd quarter valued at $135,000. Focused Wealth Management Inc purchased a new position in shares of T. Rowe Price Group during the 2nd quarter valued at $139,000. Signature Estate & Investment Advisors LLC purchased a new position in shares of T. Rowe Price Group during the 2nd quarter valued at $151,000. Parallel Advisors LLC grew its position in shares of T. Rowe Price Group by 169.1% during the 2nd quarter. Parallel Advisors LLC now owns 1,448 shares of the asset manager’s stock valued at $168,000 after purchasing an additional 910 shares in the last quarter. Finally, Transamerica Financial Advisors Inc. purchased a new position in shares of T. Rowe Price Group during the 2nd quarter valued at $190,000. Institutional investors and hedge funds own 70.99% of the company’s stock.

NASDAQ TROW opened at $98.48 on Friday. T. Rowe Price Group Inc has a 52-week low of $92.01 and a 52-week high of $127.43. The firm has a market cap of $23.86 billion, a PE ratio of 18.14, a P/E/G ratio of 1.13 and a beta of 1.21.

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

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

A number of research firms have recently commented on TROW. Deutsche Bank reduced their price target on shares of T. Rowe Price Group from $136.00 to $135.00 and set a “buy” rating for the company in a research report on Thursday, August 16th. Citigroup reduced their price target on shares of T. Rowe Price Group from $113.00 to $105.00 and set a “hold” rating for the company in a research report on Monday, October 29th. ValuEngine lowered shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Wednesday, July 25th. Zacks Investment Research upgraded shares of T. Rowe Price Group from a “hold” rating to a “buy” rating and set a $122.00 price target for the company in a research report on Thursday, October 11th. Finally, Credit Suisse Group reduced their price target on shares of T. Rowe Price Group from $161.00 to $123.00 and set an “outperform” rating for the company in a research report on Friday, October 26th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $114.11.

ILLEGAL ACTIVITY NOTICE: “Northwestern Mutual Wealth Management Co. Acquires 1,523 Shares of T. Rowe Price Group Inc (TROW)” was reported by American Banking News and is owned by of American Banking News. If you are reading this story on another publication, it was illegally stolen and reposted in violation of international copyright and trademark law. The correct version of this story can be viewed at https://www.americanbankingnews.com/2018/11/10/northwestern-mutual-wealth-management-co-acquires-1523-shares-of-t-rowe-price-group-inc-trow.html.

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.

Recommended Story: Technical Analysis

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

Receive News & Ratings for T. Rowe Price Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for T. Rowe Price Group and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply