Lincoln National Corp boosted its holdings in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 43.8% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,786 shares of the asset manager’s stock after acquiring an additional 2,677 shares during the quarter. Lincoln National Corp’s holdings in T. Rowe Price Group were worth $1,739,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in the business. Aspire Private Capital LLC grew its holdings in shares of T. Rowe Price Group by 812.5% during the first quarter. Aspire Private Capital LLC now owns 146 shares of the asset manager’s stock worth $25,000 after purchasing an additional 130 shares in the last quarter. Fieldpoint Private Securities LLC increased its holdings in shares of T. Rowe Price Group by 319.4% in the 2nd quarter. Fieldpoint Private Securities LLC now owns 130 shares of the asset manager’s stock worth $28,000 after buying an additional 99 shares during the last quarter. Arkadios Wealth Advisors bought a new stake in shares of T. Rowe Price Group during the 2nd quarter worth $29,000. Stonebridge Capital Advisors LLC purchased a new position in shares of T. Rowe Price Group during the 1st quarter valued at about $38,000. Finally, Red Door Wealth Management LLC bought a new position in T. Rowe Price Group during the second quarter valued at approximately $38,000. 71.04% of the stock is currently owned by hedge funds and other institutional investors.
TROW has been the topic of a number of research analyst reports. UBS Group boosted their price objective on shares of T. Rowe Price Group from $183.00 to $200.00 and gave the company a “neutral” rating in a research report on Thursday, July 8th. Evercore ISI reaffirmed a “buy” rating and issued a $211.00 target price on shares of T. Rowe Price Group in a research report on Friday, October 8th. Jefferies Financial Group started coverage on shares of T. Rowe Price Group in a research note on Friday, September 10th. They issued a “buy” rating and a $245.00 price target for the company. Deutsche Bank Aktiengesellschaft upped their price objective on shares of T. Rowe Price Group from $171.00 to $185.00 and gave the stock a “hold” rating in a report on Monday, July 12th. They noted that the move was a valuation call. Finally, Citigroup boosted their price target on T. Rowe Price Group from $137.00 to $145.00 and gave the stock a “sell” rating in a research report on Monday, July 12th. Four investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $183.43.
Shares of NASDAQ:TROW opened at $191.34 on Thursday. T. Rowe Price Group, Inc. has a 1 year low of $124.94 and a 1 year high of $224.55. The company has a market cap of $43.42 billion, a P/E ratio of 15.08, a PEG ratio of 1.86 and a beta of 1.18. The stock’s fifty day moving average price is $210.58 and its 200-day moving average price is $197.96.
T. Rowe Price Group (NASDAQ:TROW) last posted its earnings results on Thursday, July 29th. The asset manager reported $3.31 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $3.20 by $0.11. The business had revenue of $1.93 billion for the quarter, compared to analysts’ expectations of $1.91 billion. T. Rowe Price Group had a net margin of 41.93% and a return on equity of 35.82%. On average, sell-side analysts expect that T. Rowe Price Group, Inc. will post 12.92 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 29th. Investors of record on Wednesday, September 15th were given a dividend of $1.08 per share. The ex-dividend date of this dividend was Tuesday, September 14th. This represents a $4.32 dividend on an annualized basis and a yield of 2.26%. T. Rowe Price Group’s dividend payout ratio (DPR) is 45.09%.
T. Rowe Price Group Company Profile
T. Rowe Price Group, Inc is a financial services holding company, which engages in the provision of investment management services through its subsidiaries. It provides an array of company sponsored U.S. mutual funds, other sponsored pooled investment vehicles, sub advisory services, separate account management, recordkeeping, and related services to individuals, advisors, institutions, financial intermediaries, and retirement plan sponsors.
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