9,234 Shares in T. Rowe Price Group, Inc. $TROW Purchased by Sherman Wealth Management LLC

Sherman Wealth Management LLC acquired a new stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund acquired 9,234 shares of the asset manager’s stock, valued at approximately $961,000.

Several other institutional investors and hedge funds have also bought and sold shares of TROW. BlackRock Inc. acquired a new stake in shares of T. Rowe Price Group in the second quarter worth $2,728,119,000. Legal & General Group Plc acquired a new position in T. Rowe Price Group during the second quarter valued at $183,130,000. Bank of America Corp DE purchased a new stake in T. Rowe Price Group in the second quarter valued at $170,572,000. Bank of New York Mellon Corp purchased a new stake in T. Rowe Price Group in the second quarter valued at $167,984,000. Finally, Caisse de depot et placement du Quebec acquired a new stake in T. Rowe Price Group during the 2nd quarter worth about $132,649,000. 73.39% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other T. Rowe Price Group news, VP Joshua Nelson sold 10,000 shares of the stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $111.82, for a total transaction of $1,118,200.00. Following the transaction, the vice president owned 71,328 shares in the company, valued at approximately $7,975,896.96. This represents a 12.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.60% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on TROW shares. Weiss Ratings upgraded T. Rowe Price Group from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, September 4th. BMO Capital Markets dropped their target price on T. Rowe Price Group from $120.00 to $110.00 and set a “market perform” rating on the stock in a report on Tuesday. JPMorgan Chase & Co. reduced their price target on T. Rowe Price Group from $107.00 to $106.00 and set an “underweight” rating for the company in a research report on Tuesday. Evercore set a $109.00 price target on T. Rowe Price Group in a research report on Friday, October 9th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $109.00 price target on shares of T. Rowe Price Group in a report on Monday, August 3rd. One equities research analyst has rated the stock with a Buy rating, ten have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus price target of $104.08.

T. Rowe Price Group Stock Performance

TROW stock opened at $101.37 on Friday. T. Rowe Price Group, Inc. has a one year low of $85.22 and a one year high of $122.00. The firm’s fifty day moving average is $107.53 and its 200 day moving average is $106.71. The firm has a market cap of $21.62 billion, a PE ratio of 9.63, a P/E/G ratio of 4.33 and a beta of 1.45.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings data on Friday, July 31st. The asset manager reported $2.57 earnings per share for the quarter, topping analysts’ consensus estimates of $2.52 by $0.05. T. Rowe Price Group had a net margin of 29.26% and a return on equity of 20.91%. The business had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.89 billion. During the same quarter in the prior year, the firm posted $2.24 earnings per share. The company’s revenue was up 10.7% compared to the same quarter last year. Research analysts predict that T. Rowe Price Group, Inc. will post 10.10 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th were issued a $1.30 dividend. The ex-dividend date of this dividend was Tuesday, September 15th. This represents a $5.20 dividend on an annualized basis and a yield of 5.1%. T. Rowe Price Group’s dividend payout ratio is presently 52.16%.

Key Headlines Impacting T. Rowe Price Group

Here are the key news stories impacting T. Rowe Price Group this week:

• Positive Sentiment: T. Rowe Price’s latest reported quarter showed solid operating momentum, with earnings and revenue exceeding analyst expectations and revenue rising year over year. That performance may be supporting investor confidence ahead of the next results. T. Rowe Price Beats Stock Market Upswing: What Investors Need to Know
• Positive Sentiment: The company is expanding field-sales coverage and strengthening its wealth-leadership and product-specialist teams. The moves could improve distribution and support asset gathering over time. T. Rowe Price Expands Sales and Wealth Teams
• Neutral Sentiment: Multiple earnings previews indicate that the upcoming report is the main near-term catalyst. Investors will likely focus on earnings, revenue, net flows, fee trends and management’s outlook. T. Rowe Price Earnings Preview: What to Expect
• Neutral Sentiment: Analysts were described as neutral on T. Rowe Price among selected financial stocks, suggesting limited consensus about the shares’ next direction. Analysts Are Neutral on Top Financial Stocks
• Negative Sentiment: Barclays lowered its price target from $103 to $102 and kept an “underweight” rating, implying limited upside from the referenced share price. BMO Capital Markets Cuts T. Rowe Price Price Target
• Negative Sentiment: JPMorgan issued a pessimistic forecast, adding to concerns about valuation, asset flows or the broader outlook for active asset managers. JPMorgan Issues Pessimistic Forecast for T. Rowe Price

T. Rowe Price Group Company Profile

T. Rowe Price Group, Inc is a global investment management firm headquartered in Baltimore, Maryland. The company provides investment strategies and related services to individual investors, retirement plans, financial intermediaries, institutions, and other clients.

Its offerings include actively managed mutual funds, exchange-traded funds, separately managed accounts, collective investment trusts, and other portfolio solutions. T. Rowe Price invests across equity, fixed-income, multi-asset, and alternative strategies, and also provides retirement planning, asset allocation, advisory, and investment research services.

Founded in 1937 by Thomas Rowe Price Jr., the company serves clients through operations and distribution relationships in the United States and international markets.