TCTC Holdings LLC Grows Stock Position in T. Rowe Price Group, Inc. $TROW

TCTC Holdings LLC increased its stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) by 11.6% in the third quarter, Holdings Channel reports. The institutional investor owned 65,045 shares of the asset manager’s stock after acquiring an additional 6,750 shares during the period. TCTC Holdings LLC’s holdings in T. Rowe Price Group were worth $6,676,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. TD Waterhouse Canada Inc. boosted its stake in shares of T. Rowe Price Group by 66.7% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 250 shares of the asset manager’s stock worth $25,000 after purchasing an additional 100 shares during the period. Root Financial Partners LLC bought a new stake in T. Rowe Price Group in the third quarter worth about $30,000. Salomon & Ludwin LLC lifted its stake 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 worth $33,000 after purchasing an additional 145 shares during the last quarter. Vermillion & White Wealth Management Group LLC boosted 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 valued at $31,000 after buying an additional 174 shares during the period. Finally, Atlantic Union Bankshares Corp bought a new position in shares of T. Rowe Price Group during the second quarter valued at approximately $35,000. Institutional investors own 73.39% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Bank of America increased their price target on T. Rowe Price Group from $85.00 to $86.00 in a report on Wednesday, January 14th. Deutsche Bank Aktiengesellschaft reduced their target price on T. Rowe Price Group from $106.00 to $100.00 and set a “hold” rating on the stock in a research note on Thursday, February 5th. Morgan Stanley lowered their target price on shares of T. Rowe Price Group from $123.00 to $115.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 10th. TD Cowen cut their price target on shares of T. Rowe Price Group from $109.00 to $97.00 and set a “hold” rating on the stock in a report on Thursday, February 5th. Finally, Citigroup lifted their price objective on shares of T. Rowe Price Group from $105.00 to $107.00 in a report on Monday, November 3rd. Twelve research analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce” and an average price target of $102.50.

T. Rowe Price Group Stock Performance

NASDAQ TROW opened at $93.76 on Friday. T. Rowe Price Group, Inc. has a one year low of $77.85 and a one year high of $118.22. The company has a market capitalization of $20.46 billion, a price-to-earnings ratio of 10.14, a price-to-earnings-growth ratio of 4.84 and a beta of 1.53. The company’s 50-day simple moving average is $103.40 and its two-hundred day simple moving average is $104.03.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings results on Wednesday, February 4th. The asset manager reported $2.44 earnings per share for the quarter, missing the consensus estimate of $2.47 by ($0.03). The business had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $1.92 billion. T. Rowe Price Group had a return on equity of 20.36% and a net margin of 28.53%.T. Rowe Price Group’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same period in the previous year, the company posted $2.12 EPS. Equities analysts expect that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current fiscal year.

T. Rowe Price Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 30th. Shareholders of record on Monday, March 16th will be given a dividend of $1.30 per share. This is a boost from T. Rowe Price Group’s previous quarterly dividend of $1.27. The ex-dividend date of this dividend is Monday, March 16th. This represents a $5.20 annualized dividend and a yield of 5.5%. T. Rowe Price Group’s payout ratio is 56.22%.

Insider Activity

In other news, VP Arif Husain sold 4,260 shares of the business’s stock in a transaction 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 transaction, the vice president directly owned 47,102 shares of the company’s stock, valued at approximately $4,802,519.92. The trade was a 8.29% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 2.00% of the company’s stock.

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.