AXQ Capital LP Invests $290,000 in T. Rowe Price Group, Inc. $TROW

AXQ Capital LP bought a new position in T. Rowe Price Group, Inc. (NASDAQ:TROW) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 3,010 shares of the asset manager’s stock, valued at approximately $290,000.

A number of other institutional investors have also recently bought and sold shares of TROW. TD Waterhouse Canada Inc. boosted its holdings in shares of T. Rowe Price Group by 66.7% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 250 shares of the asset manager’s stock valued at $25,000 after purchasing an additional 100 shares during the last quarter. Zions Bancorporation National Association UT purchased a new position in shares of T. Rowe Price Group in the 1st quarter worth $27,000. Atlantic Union Bankshares Corp purchased a new position in shares of T. Rowe Price Group in the 2nd quarter worth $35,000. Curio Wealth LLC boosted its holdings in T. Rowe Price Group by 20,700.0% in the second quarter. Curio Wealth LLC now owns 416 shares of the asset manager’s stock valued at $40,000 after acquiring an additional 414 shares during the last quarter. Finally, Cromwell Holdings LLC grew its position in T. Rowe Price Group by 3,483.3% during the second quarter. Cromwell Holdings LLC now owns 430 shares of the asset manager’s stock valued at $41,000 after acquiring an additional 418 shares during the period. 73.39% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Zacks Research upgraded T. Rowe Price Group from a “hold” rating to a “strong-buy” rating in a report on Friday, October 10th. JPMorgan Chase & Co. increased their target price on shares of 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. Citigroup raised their price target on shares of T. Rowe Price Group from $105.00 to $107.00 in a report on Monday, November 3rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of T. Rowe Price Group in a research report on Wednesday, October 8th. Finally, Morgan Stanley boosted their price objective on shares of T. Rowe Price Group from $125.00 to $126.00 and gave the stock an “equal weight” rating in a research note on Monday, October 27th. One research 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 stock. According to data from MarketBeat.com, T. Rowe Price Group presently has a consensus rating of “Reduce” and a consensus price target of $109.38.

T. Rowe Price Group Stock Performance

NASDAQ:TROW opened at $100.45 on Tuesday. The stock has a market cap of $21.92 billion, a price-to-earnings ratio of 11.22, a price-to-earnings-growth ratio of 5.61 and a beta of 1.51. T. Rowe Price Group, Inc. has a one year low of $77.85 and a one year high of $125.81. The business’s 50-day simple moving average is $103.08 and its 200 day simple moving average is $101.72.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings data on Friday, October 31st. The asset manager reported $2.81 earnings per share for the quarter, beating 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 firm 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. T. Rowe Price Group’s quarterly revenue was up 6.0% on a year-over-year basis. On average, equities research analysts predict that T. Rowe Price Group, Inc. will post 9.29 EPS for the current year.

T. Rowe Price Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 30th. Investors of record on Monday, December 15th will be paid a $1.27 dividend. This represents a $5.08 dividend on an annualized basis and a dividend yield of 5.1%. The ex-dividend date is Monday, December 15th. T. Rowe Price Group’s payout ratio is 55.34%.

Insider Transactions at T. Rowe Price Group

In other T. Rowe Price Group news, Director Robert F. Maclellan sold 3,090 shares of the stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $105.01, for a total transaction of $324,480.90. Following the transaction, the director directly owned 47,335 shares in the company, valued at $4,970,648.35. This represents a 6.13% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 2.00% of the stock is owned by corporate insiders.

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.