Allspring Global Investments Holdings LLC Acquires 1,398 Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW)

Allspring Global Investments Holdings LLC grew its stake in shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) by 10.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,056 shares of the asset manager’s stock after buying an additional 1,398 shares during the period. Allspring Global Investments Holdings LLC’s holdings in T. Rowe Price Group were worth $1,736,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of TROW. Massmutual Trust Co. FSB ADV lifted its stake in T. Rowe Price Group by 7.5% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 1,236 shares of the asset manager’s stock worth $151,000 after purchasing an additional 86 shares in the last quarter. ST Germain D J Co. Inc. lifted its position in shares of T. Rowe Price Group by 0.3% in the first quarter. ST Germain D J Co. Inc. now owns 31,065 shares of the asset manager’s stock worth $3,787,000 after buying an additional 88 shares in the last quarter. MCF Advisors LLC lifted its position in shares of T. Rowe Price Group by 1.6% in the first quarter. MCF Advisors LLC now owns 5,953 shares of the asset manager’s stock worth $726,000 after buying an additional 92 shares in the last quarter. Paulson Wealth Management Inc. boosted its stake in T. Rowe Price Group by 4.9% during the first quarter. Paulson Wealth Management Inc. now owns 2,028 shares of the asset manager’s stock valued at $247,000 after buying an additional 95 shares during the last quarter. Finally, CVA Family Office LLC grew its holdings in T. Rowe Price Group by 28.3% during the 2nd quarter. CVA Family Office LLC now owns 462 shares of the asset manager’s stock valued at $53,000 after buying an additional 102 shares in the last quarter. Hedge funds and other institutional investors own 73.39% of the company’s stock.

Analyst Ratings Changes

TROW has been the topic of several recent research reports. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $120.00 price objective (down from $121.00) on shares of T. Rowe Price Group in a report on Monday, July 29th. StockNews.com lowered shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the stock a “hold” rating in a report on Thursday, August 15th. JPMorgan Chase & Co. increased their price target on shares of T. Rowe Price Group from $102.00 to $107.00 and gave the company an “underweight” rating in a report on Tuesday, July 23rd. Finally, TD Cowen reduced their price objective on T. Rowe Price Group from $123.00 to $118.00 and set a “hold” rating on the stock in a research note on Monday, July 29th. Four investment analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $113.10.

Insider Transactions at T. Rowe Price Group

In related news, insider Jessica M. Hiebler sold 1,401 shares of the business’s stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $115.85, for a total value of $162,305.85. Following the completion of the sale, the insider now owns 14,198 shares in the company, valued at $1,644,838.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other T. Rowe Price Group news, VP Dorothy C. Sawyer sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $117.00, for a total transaction of $234,000.00. Following the transaction, the vice president now owns 34,710 shares of the company’s stock, valued at approximately $4,061,070. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jessica M. Hiebler sold 1,401 shares of the company’s stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $115.85, for a total transaction of $162,305.85. Following the completion of the sale, the insider now directly owns 14,198 shares of the company’s stock, valued at approximately $1,644,838.30. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

T. Rowe Price Group Stock Performance

Shares of NASDAQ TROW opened at $104.48 on Wednesday. T. Rowe Price Group, Inc. has a fifty-two week low of $87.43 and a fifty-two week high of $122.27. The company has a market cap of $23.26 billion, a price-to-earnings ratio of 12.41, a PEG ratio of 1.69 and a beta of 1.41. The business’s 50 day moving average price is $111.41 and its 200-day moving average price is $113.87.

T. Rowe Price Group (NASDAQ:TROW) last released its earnings results on Friday, July 26th. The asset manager reported $2.26 earnings per share for the quarter, missing the consensus estimate of $2.27 by ($0.01). The business had revenue of $1.73 billion for 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%. The firm’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same quarter last year, the business posted $2.02 earnings per share. Sell-side analysts predict that T. Rowe Price Group, Inc. will post 9 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be paid a $1.24 dividend. The ex-dividend date is Friday, September 13th. This represents a $4.96 dividend on an annualized basis and a yield of 4.75%. T. Rowe Price Group’s dividend payout ratio is currently 58.91%.

T. Rowe Price Group Profile

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.