5,102 Shares in T. Rowe Price Group, Inc. $TROW Purchased by Global Retirement Partners LLC

Global Retirement Partners LLC purchased a new stake in T. Rowe Price Group, Inc. (NASDAQ:TROW) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 5,102 shares of the asset manager’s stock, valued at approximately $492,000.

Several other hedge funds have also bought and sold shares of TROW. TFG Advisers LLC lifted its stake in shares of T. Rowe Price Group by 3.6% in the 2nd quarter. TFG Advisers LLC now owns 2,779 shares of the asset manager’s stock valued at $268,000 after purchasing an additional 97 shares during the period. TD Waterhouse Canada Inc. raised its position in shares of T. Rowe Price Group by 66.7% in the second quarter. TD Waterhouse Canada Inc. now owns 250 shares of the asset manager’s stock worth $25,000 after acquiring an additional 100 shares during the period. Bill Few Associates Inc. raised its position in shares of T. Rowe Price Group by 4.3% in the second quarter. Bill Few Associates Inc. now owns 2,577 shares of the asset manager’s stock worth $249,000 after acquiring an additional 107 shares during the period. Cooper Financial Group boosted its stake in shares of T. Rowe Price Group by 5.2% during the 1st quarter. Cooper Financial Group now owns 2,234 shares of the asset manager’s stock worth $205,000 after acquiring an additional 110 shares in the last quarter. Finally, Associated Banc Corp grew its position in shares of T. Rowe Price Group by 0.5% during the 1st quarter. Associated Banc Corp now owns 24,864 shares of the asset manager’s stock valued at $2,284,000 after acquiring an additional 114 shares during the period. Hedge funds and other institutional investors own 73.39% of the company’s stock.

T. Rowe Price Group Trading Up 0.3%

TROW stock opened at $102.44 on Friday. The firm has a 50-day moving average of $102.83 and a two-hundred day moving average of $101.85. T. Rowe Price Group, Inc. has a 12 month low of $77.85 and a 12 month high of $125.81. The company has a market cap of $22.36 billion, a price-to-earnings ratio of 11.45, a PEG ratio of 5.61 and a beta of 1.51.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings results on Friday, October 31st. The asset manager reported $2.81 earnings per share (EPS) 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 business had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.88 billion. During the same period in the prior year, the business earned $2.57 earnings per share. The business’s revenue was up 6.0% compared to the same quarter last year. As a group, equities analysts forecast that T. Rowe Price Group, Inc. will post 9.29 earnings per share for the current year.

T. Rowe Price Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Monday, December 15th will be issued a dividend of $1.27 per share. This represents a $5.08 annualized dividend and a dividend yield of 5.0%. The ex-dividend date is Monday, December 15th. T. Rowe Price Group’s payout ratio is currently 55.34%.

Insider Activity at T. Rowe Price Group

In other news, Director Robert F. Maclellan sold 3,090 shares of the business’s stock in a transaction dated 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 owned 47,335 shares of the company’s stock, valued at approximately $4,970,648.35. The trade was a 6.13% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.00% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have issued reports on TROW shares. The Goldman Sachs Group lowered their price target on T. Rowe Price Group from $98.00 to $93.00 and set a “sell” rating on the stock in a research report on Tuesday, November 25th. Morgan Stanley upped their target price on 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. TD Cowen lifted their price target on shares of T. Rowe Price Group from $108.00 to $112.00 and gave the company a “hold” rating in a research note on Monday, November 3rd. Barclays set a $101.00 price objective on shares of T. Rowe Price Group in a research report on Monday, November 3rd. Finally, Jefferies Financial Group increased their price objective on shares of T. Rowe Price Group from $104.00 to $106.00 and gave the company a “hold” rating in a report on Tuesday, October 7th. 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. Based on data from MarketBeat, the company has an average rating of “Reduce” and a consensus price target of $109.00.

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.