Retireful LLC Makes New $714,000 Investment in T. Rowe Price Group, Inc. $TROW

Retireful LLC acquired a new stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) during the 3rd quarter, Holdings Channel reports. The firm acquired 6,957 shares of the asset manager’s stock, valued at approximately $714,000.

Several other large investors also recently made changes to their positions in TROW. TD Waterhouse Canada Inc. boosted its holdings in T. Rowe Price Group by 66.7% in the second quarter. TD Waterhouse Canada Inc. now owns 250 shares of the asset manager’s stock worth $25,000 after acquiring an additional 100 shares in the last quarter. Vermillion & White Wealth Management Group LLC raised its position in shares of T. Rowe Price Group by 120.0% during the second quarter. Vermillion & White Wealth Management Group LLC now owns 319 shares of the asset manager’s stock worth $31,000 after purchasing an additional 174 shares during the period. Atlantic Union Bankshares Corp bought a new position in shares of T. Rowe Price Group in the 2nd quarter worth $35,000. Curio Wealth LLC grew its position in T. Rowe Price Group by 20,700.0% in the 2nd quarter. Curio Wealth LLC now owns 416 shares of the asset manager’s stock valued at $40,000 after purchasing an additional 414 shares during the period. Finally, Cromwell Holdings LLC grew its position in T. Rowe Price Group by 3,483.3% in the 2nd quarter. Cromwell Holdings LLC now owns 430 shares of the asset manager’s stock valued at $41,000 after purchasing an additional 418 shares during the period. 73.39% of the stock is currently owned by institutional investors and hedge funds.

T. Rowe Price Group Stock Up 0.1%

T. Rowe Price Group stock opened at $104.75 on Monday. The stock has a market cap of $22.86 billion, a price-to-earnings ratio of 11.41, a PEG ratio of 2.83 and a beta of 1.53. The business has a 50-day simple moving average of $102.89 and a 200 day simple moving average of $103.21. T. Rowe Price Group, Inc. has a 52 week low of $77.85 and a 52 week high of $118.32.

T. Rowe Price Group (NASDAQ:TROW) last announced its earnings results on Friday, October 31st. The asset manager reported $2.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.55 by $0.26. T. Rowe Price Group had a net margin of 28.89% and a return on equity of 19.95%. The company had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.88 billion. During the same period in the previous year, the business earned $2.57 earnings per share. The firm’s quarterly revenue was up 6.0% compared to the same quarter last year. On average, research analysts anticipate that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 30th. Investors of record on Monday, December 15th will be given a $1.27 dividend. The ex-dividend date is Monday, December 15th. This represents a $5.08 dividend on an annualized basis and a yield of 4.8%. T. Rowe Price Group’s payout ratio is presently 55.34%.

Insiders Place Their Bets

In other T. Rowe Price Group news, VP Arif Husain sold 4,260 shares of the company’s stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $101.96, for a total value of $434,349.60. Following the completion of the sale, the vice president owned 47,102 shares of the company’s stock, valued at $4,802,519.92. This represents a 8.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.60% of the stock is owned by insiders.

Wall Street Analyst Weigh In

TROW has been the topic of several research reports. Zacks Research downgraded shares of T. Rowe Price Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 9th. JPMorgan Chase & Co. raised their price target on shares of T. Rowe Price Group from $109.00 to $111.00 and gave the company an “underweight” rating in a research report on Monday, November 3rd. Barclays increased their price objective on T. Rowe Price Group from $101.00 to $102.00 and gave the stock an “underweight” rating in a research note on Friday, December 12th. Evercore ISI reduced their target price on shares of T. Rowe Price Group from $118.00 to $115.00 and set an “in-line” rating for the company in a research note on Friday, December 5th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on shares of T. Rowe Price Group from $113.00 to $106.00 and set a “hold” rating for the company in a report on Wednesday, December 17th. Twelve research analysts have rated the stock with a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Reduce” and an average target price of $108.31.

About T. Rowe Price Group

T. Rowe Price Group, Inc is a global investment management firm headquartered in Baltimore, Maryland, founded by Thomas Rowe Price Jr. in 1937. The company provides a broad range of investment products and services for individual investors, financial intermediaries, retirement plan sponsors and institutional clients. Its offerings are built around active investment management and in-house research across equity, fixed income and multi-asset strategies, reflecting a long history as a research-driven asset manager.

The firm’s product lineup includes mutual funds, separate accounts, collective investment trusts, target-date and target-risk funds, and managed account solutions, as well as services for defined contribution and defined benefit retirement plans.