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

Nicholson Wealth Management Group LLC purchased a new stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) during the third quarter, Holdings Channel.com reports. The firm purchased 5,826 shares of the asset manager’s stock, valued at approximately $635,000.

Other large investors have also recently made changes to their positions in the company. Ashton Thomas Private Wealth LLC bought a new position in shares of T. Rowe Price Group during the 1st quarter valued at $1,008,000. Envestnet Portfolio Solutions Inc. grew its stake in shares of T. Rowe Price Group by 52.4% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 65,534 shares of the asset manager’s stock valued at $7,990,000 after buying an additional 22,533 shares during the last quarter. Norden Group LLC bought a new position in shares of T. Rowe Price Group during the first quarter valued at about $8,437,000. Forsta AP Fonden increased its holdings in shares of T. Rowe Price Group by 32.3% in the second quarter. Forsta AP Fonden now owns 70,100 shares of the asset manager’s stock worth $8,083,000 after buying an additional 17,100 shares during the period. Finally, Mizuho Markets Americas LLC lifted its stake in shares of T. Rowe Price Group by 90.0% in the 1st quarter. Mizuho Markets Americas LLC now owns 90,688 shares of the asset manager’s stock valued at $11,057,000 after acquiring an additional 42,949 shares during the last quarter. 73.39% of the stock is owned by hedge funds and other institutional investors.

T. Rowe Price Group Trading Up 2.3 %

Shares of NASDAQ TROW opened at $112.01 on Friday. The firm has a fifty day simple moving average of $107.95 and a two-hundred day simple moving average of $111.90. The firm has a market capitalization of $25.01 billion, a PE ratio of 13.30, a price-to-earnings-growth ratio of 1.86 and a beta of 1.41. T. Rowe Price Group, Inc. has a 12 month low of $87.43 and a 12 month high of $122.27.

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

T. Rowe Price Group Dividend Announcement

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

Insider Activity

In other T. Rowe Price Group 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 completion of the transaction, the insider now owns 13,939 shares in the company, valued at approximately $1,459,831.47. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, 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 transaction of $1,230,772.27. Following the sale, the vice president now owns 123,624 shares of the company’s stock, valued at $12,712,255.92. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Jessica M. Hiebler sold 484 shares of the company’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $104.73, for a total transaction of $50,689.32. Following the completion of 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 position. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Wells Fargo & Company raised their price target on T. Rowe Price Group from $109.00 to $112.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 9th. JPMorgan Chase & Co. lifted their target price on shares of T. Rowe Price Group from $102.00 to $107.00 and gave the stock an “underweight” rating in a research note on Tuesday, July 23rd. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $120.00 price target (down from $121.00) on shares of T. Rowe Price Group in a report on Monday, July 29th. Evercore ISI raised their price target on shares of T. Rowe Price Group from $108.00 to $109.00 and gave the stock an “in-line” rating in a report on Friday, October 4th. Finally, Morgan Stanley boosted their price objective on shares of T. Rowe Price Group from $125.00 to $127.00 and gave the company an “equal weight” rating in a research report on Friday, October 18th. Four analysts have rated the stock with a sell rating and eight have given a hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $113.00.

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.