Arvest Bank Trust Division Makes New $1.27 Million Investment in T. Rowe Price Group, Inc. $TROW

Arvest Bank Trust Division acquired a new stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) during the second quarter, according to its most recent filing with the SEC. The firm acquired 13,107 shares of the asset manager’s stock, valued at approximately $1,265,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in TROW. Zions Bancorporation National Association UT bought a new position in T. Rowe Price Group in the first quarter valued at about $27,000. Atlantic Union Bankshares Corp acquired a new position in T. Rowe Price Group during the 2nd quarter valued at about $35,000. Curio Wealth LLC boosted its stake in shares of 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 last quarter. Cromwell Holdings LLC boosted its stake in shares of 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 last quarter. Finally, Bogart Wealth LLC grew its position in shares of T. Rowe Price Group by 1,787.5% during the 2nd quarter. Bogart Wealth LLC now owns 453 shares of the asset manager’s stock worth $44,000 after buying an additional 429 shares during the period. Institutional investors own 73.39% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on TROW. Weiss Ratings reaffirmed a “hold (c)” rating on shares of T. Rowe Price Group in a research note on Wednesday, October 8th. JPMorgan Chase & Co. raised their price target on T. Rowe Price Group from $109.00 to $111.00 and gave the stock an “underweight” rating in a research report on Monday, November 3rd. TD Cowen lifted their price objective on T. Rowe Price Group from $108.00 to $112.00 and gave the stock a “hold” rating in a research note on Monday, November 3rd. Jefferies Financial Group increased their target price on T. Rowe Price Group from $104.00 to $106.00 and gave the company a “hold” rating in a research note on Tuesday, October 7th. Finally, Zacks Research upgraded T. Rowe Price Group from a “hold” rating to a “strong-buy” rating in a report on Friday, October 10th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Hold rating and four have given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average price target of $109.31.

Insiders Place Their Bets

In related news, Director Robert F. Maclellan sold 3,090 shares of the company’s stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $105.01, for a total value of $324,480.90. Following the completion of the transaction, the director directly owned 47,335 shares of the company’s stock, valued at approximately $4,970,648.35. This represents a 6.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.00% of the company’s stock.

T. Rowe Price Group Price Performance

NASDAQ TROW opened at $103.72 on Friday. T. Rowe Price Group, Inc. has a one year low of $77.85 and a one year high of $125.81. The firm has a market cap of $22.64 billion, a P/E ratio of 11.59, a P/E/G ratio of 5.61 and a beta of 1.51. The stock’s 50-day moving average is $104.15 and its 200-day moving average is $101.14.

T. Rowe Price Group (NASDAQ:TROW) last posted its earnings results on Friday, October 31st. The asset manager reported $2.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.55 by $0.26. T. Rowe Price Group had a return on equity of 19.77% and a net margin of 28.72%.The business had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.88 billion. During the same period in the prior year, the business earned $2.57 EPS. T. Rowe Price Group’s revenue for the quarter was up 6.0% compared to the same quarter last year. Equities analysts anticipate that T. Rowe Price Group, Inc. will post 9.29 EPS for the current year.

T. Rowe Price Group Announces Dividend

The business also recently disclosed 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. This represents a $5.08 annualized dividend and a yield of 4.9%. The ex-dividend date of this dividend is Monday, December 15th. T. Rowe Price Group’s payout ratio is currently 55.34%.

T. Rowe Price Group Company 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.