Moran Wealth Management LLC Increases Holdings in T. Rowe Price Group, Inc. $TROW

Moran Wealth Management LLC raised its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 44.2% during the 3rd quarter, HoldingsChannel reports. The firm owned 129,238 shares of the asset manager’s stock after acquiring an additional 39,627 shares during the quarter. Moran Wealth Management LLC’s holdings in T. Rowe Price Group were worth $13,265,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. TD Waterhouse Canada Inc. grew its stake in shares of 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 valued at $25,000 after buying an additional 100 shares in the last quarter. Vermillion & White Wealth Management Group LLC grew its position in T. Rowe Price Group by 120.0% in the second quarter. Vermillion & White Wealth Management Group LLC now owns 319 shares of the asset manager’s stock valued at $31,000 after acquiring an additional 174 shares in the last quarter. Salomon & Ludwin LLC grew its position in T. Rowe Price Group by 84.3% in the third quarter. Salomon & Ludwin LLC now owns 317 shares of the asset manager’s stock valued at $33,000 after acquiring an additional 145 shares in the last quarter. Atlantic Union Bankshares Corp purchased a new stake in shares of T. Rowe Price Group during the second quarter valued at approximately $35,000. Finally, Curio Wealth LLC lifted its position in shares of T. Rowe Price Group by 20,700.0% during the second quarter. Curio Wealth LLC now owns 416 shares of the asset manager’s stock worth $40,000 after purchasing an additional 414 shares in the last quarter. Institutional investors and hedge funds own 73.39% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on TROW shares. Keefe, Bruyette & Woods lowered their price target on shares of T. Rowe Price Group from $117.00 to $115.00 and set a “market perform” rating for the company in a report on Tuesday, December 16th. Bank of America raised their target price on T. Rowe Price Group from $91.00 to $97.00 and gave the company an “underperform” rating in a research note on Thursday, October 2nd. Morgan Stanley boosted their price target on T. Rowe Price Group from $126.00 to $128.00 and gave the stock an “equal weight” rating in a research note on Wednesday, December 17th. Deutsche Bank Aktiengesellschaft reduced their price target on 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. Finally, The Goldman Sachs Group dropped their price objective on T. Rowe Price Group from $98.00 to $93.00 and set a “sell” rating on the stock in a report on Tuesday, November 25th. Twelve analysts have rated the stock with a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce” and an average target price of $108.31.

Insider Buying and Selling at T. Rowe Price Group

In other T. Rowe Price Group news, VP Arif Husain sold 4,260 shares of the stock in a transaction on Wednesday, December 10th. The shares were sold at an average price of $101.96, for a total transaction of $434,349.60. Following the sale, the vice president directly owned 47,102 shares of the company’s stock, valued at approximately $4,802,519.92. This represents a 8.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.00% of the company’s stock.

T. Rowe Price Group Stock Down 2.8%

Shares of T. Rowe Price Group stock opened at $106.00 on Thursday. The business has a 50-day moving average price of $103.06 and a 200 day moving average price of $103.82. T. Rowe Price Group, Inc. has a fifty-two week low of $77.85 and a fifty-two week high of $118.32. The firm has a market cap of $23.13 billion, a P/E ratio of 11.55, a P/E/G ratio of 2.76 and a beta of 1.52.

T. Rowe Price Group (NASDAQ:TROW) last issued its earnings results on Friday, October 31st. The asset manager reported $2.81 EPS for the quarter, topping the consensus estimate of $2.55 by $0.26. T. Rowe Price Group had a return on equity of 19.95% and a net margin of 28.89%.The company had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.88 billion. During the same quarter last year, the firm earned $2.57 EPS. The business’s revenue was up 6.0% on a year-over-year basis. As a group, equities 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 firm also recently announced a quarterly dividend, which was paid on Tuesday, December 30th. Shareholders of record on Monday, December 15th were paid a dividend of $1.27 per share. The ex-dividend date was Monday, December 15th. This represents a $5.08 annualized dividend and a yield of 4.8%. T. Rowe Price Group’s payout ratio is presently 55.34%.

T. Rowe Price Group Company Profile

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.